Convert XELS XELS to Maker MKR

XELS is an eco-conscious blockchain platform enabling corporations and individuals alike the ability to easily and transparently offset their carbon footprint by purchasing tokenized carbon offset credits. Since the birth of carbon offset markets in the wake of the Kyoto and Paris agreements, fraud has been a serious problem. Bad actors have been known to sell fake or expired carbon credits, and credit “recycling” fraud can lead to double spending of unretired carbon credits (see here for an example of one of the biggest fraud cases to hit carbon credits, which even ensnared Deutsche Bank. Blockchain’s distributed ledger technology is the perfect use case for carbon credits, as it cannot be changed, reversed, or double spent. Digital assets can also be “burned,” along with a transaction hash that proves the associated credit has been retired forever. We’re initially launching the eponymous XELS token as a “platform token” to access a future suite of stable tokens pegged 1:1 to various industry-standard voluntary carbon offset credits – think of those as being the “USDT” of carbon credits.

Maker is an Ethereum token that describes itself as “a utility token, governance token, and recapitalization resource of the Maker system.” The purpose of the Maker system is to generate another Ethereum token, called Dai, that seeks to trade on exchanges at a value of exactly US$1.00.