GDP #006: DIA’s Carbon Neutral Oracle Initiative

Problem

One of the major criticisms of blockchains has been the environmental impact of their energy consumption. Especially blockchains that leverage proof-of-work consensus mechanisms like Ethereum require large and increasing amounts of energy to operate.

Context

At DIA, being a blockchain-native project, we are aware of the responsibility which the use of energy-intensive networks entails. As a data provider, we not only leverage blockchain to supply smart contracts with oracles, we are also in a unique position to estimate the impact that the use of decentralised ledgers have.

Solution

Embracing this responsibility, we propose to take the first steps to counter externalities of on-chain operations, starting with DIA’s oracle usage. Leveraging DIA’s data infrastructure, we are able to track the volume of on-chain oracle transactions across ledgers and calculate the associated energy consumption. This, in turn, will enable us to approximate the resulting carbon emissions in order to be able to offset them.

Benefits

Deliver carbon-neutral oracle services to dApps Contribute to creating a more sustainable DeFi ecosystem Position DIA as an environmentally friendly blockchain project Promote sustainable practices in the blockchain space.

Costs

To carry out this initiative, DIA Association will partner with one of the above projects and pay a fee defined by the chosen off-setting association.

Risks

We do not perceive significant risks with this proposal.

Parameters

We have identified a number of potential partners that can operationalise the offsetting and ask you, the DIA DAO, to help us choose the right one. We introduce each potential partner in the DIA DAO Forum here.

• Option 1 - MyClimate

• Option 2 - AtmosFair

• Option 3 - ClimateTrade

• Option 4 - Wren

• Option 5 - Moss

• Option 6 - None of the above