What Is Dovu (DOV)?

Dovu (DOV) is a platform that aims to offset the carbon footprint left by the cryptocurrency market and support carbon capture worldwide. The platform aims to use a carbon calculator to measure the carbon footprints and helps the users to offset or rectify them through their platform.

The website also aims to use credible sources for calculating carbon captures, such as blockchain and Hedera hashgraph, to calculate data. Hashgraphs are algorithm that utilizes blockchain benefits to fast-forward data delivery. Dovu utility tokens, DOV is the token offering of the platform, and users can use it in the marketplace. The tokens are awarded to the users depending upon the carbon credits calculated.

Utility tokens are tokens that can help users to perform an action or service on the website. The platform aims to use the tokens for positive action against active crypto projects' carbon footprint and carbon debt. According to its whitepaper, the platform aims to keep the value of the DOV tokens at par with the carbon price. The tokens representing the carbon value per unit are then named cDOV. cDOV is set as an elastic supply token or rebase token that can match the value of carbon supply. An elastic supply token is one whose supply and value change according to the market value.

Accordingly, a three-way system works for the delivery of assets in a unique manner such as:

• A rebase token(cDOV): a single-use, real-life asset and a burning mechanic

• A verified asset (DOV): an auditable asset in the crypto market

• An engine that schedules the liquidation of cDOV tokens to the asset owners over a period of time and within predefined rules The platform aims to reward the users of cDOV with DOV tokens, the NFT offering. Coin burning is a process of removal of tokens from circulation to manage the value. Additionally, the platform aims to mint cDOV tokens to offset the carbon footprint. According to the whitepaper, one cDOV equals one tonne of carbon. The initial supply is at 1100 cDOV.

So, with the supply of cDOV, the platform plans to use farmers, asset owners and users to encourage carbon offset and reduce carbon footprint.

History of DOVU(DOV):

The launch of the whitepaper with the vision and mission of DOVU came into effect in January 2021. The team comprises Irfon Watkins, the co-founder and CEO, and Krasina Mileva, another co-founder and COO. Jelena Keatley works towards business development, Matt Smithies as CTO, and Nimrod Cohen as the head of product.