Private Token Sale
The Carrot Fndn seeks to raise $30 million in a private sale of $CARROT tokens. The funds will be used for technology and business development, marketing and other expenses, broken down according to the pie chart below. As expected, more than 50% of total spend will be in technology development. Community development and management is part of marketing expenses.
Use of Funds
The funds from the Private Sale will be dedicated to building the Web3 token product, which will include: Carrot Fndn Auditor smart contracts for TRC and TCC minting and $CARROT distribution to contributor wallets; a Burn-As-A-Service solution; a Credits Registry and Leaderboard for ESG and EPR compliance; liquidity pools; Wallets offerings (claimed and unclaimed;) Anti-Money Laundering (AML) and Know Your Customer (KYC) solutions; DAO community management and CIP proposal solutions; hiring of developers; customer success teams, community managers, partnerships and business development teams, to name a few. Providing a user experience that is almost completely “non-crypto” will be key for just about every one of our stakeholders and is a top priority. In addition, moving the technology to open source and to become a multi-client platform for full technological decentralization will be a central part of the execution strategy. For more information, see product roadmap and Carrot DAO’s progressive decentralization.
Adoption and Growth
Our initial focus is to scale TRC and TCC minting from existing recycling operations. This will drive ecosystem fees and begin $CARROT distribution and adoption. We aim to impact the recycling markets immediately and at their core with an initial focus on two waste types that are 100% recyclable and which, when sorted, can scale total recycling rates; they are biological waste (food and green waste) and glass. Food waste is typically seen as a contaminant in recycling systems, while glass is viewed as a hazard. Because glass offers low resale value and composting services come at a cost, both are by and large ignored by the existing waste management systems. Remember biological waste represents 50% of total waste volumes.
Demand for Carbon Credits continues to grow, and because the Voluntary Carbon Market is currently more established than the EPR (Extended Producer Responsibility) markets we will focus on minting TCCs first. As we extend our solution geographically we will work with our community, our partners and the glass bottling industry to scale TRC minting from cullet that is captured in the market and recycling in glass furnaces at bottling plants. Once we have a foothold in these two markets we can gradually include other large recyclable categories before moving on to electronic waste, hazardous waste, textiles and other more complex waste materials.
We believe that with a vibrant community behind us, strong partners and network effects can deliver strong environmental and financial results quickly. For more information on how fees will be generated by the $CARROT ecosystem see Tokenomics section.
Last updated
