Diatom DAO Liquidity & Protocol Launch
Febraury 14 update – launch delayed by 48 hours for February 16.
OHM fork with the missions of protecting the ocean. The first project and investment for the DAO is the creation of Plastic Removal Credits, similar to carbon credits (like Klima leverages their treasury to buy Base Carbon Tonnes).
- Treasury is multisig
- 50% of the WL / public sale tokens are vested over 3 months
- Listing price: $19.51 / DIAT on SushiSwap
- Initial supply: 390,000 DIAT
- Target for initial staking rewards is 10,000% APY
- After launch, they will focus on the PRC (Plastic Removal Credits) bridge, and minting the first PRC
- Rather than strictly yield farming, the team plans to use the treasury for:
- Creating the Plastic Removal Credits asset, as well as potential other projects and assets like Blue Carbon Credits, Whale Carbon Credits, etc.
- Investing in plastic removal infrastructure, such as river booms, ocean drones, smart material recovery facilities and ocean protection focused crowdsourcing apps
- Off-chain, private companies focused on ocean protection
- On-chain defi investments