By using Spirals, validators directly fund public goods projects by allocating a portion of their yield rewards to a treasury governed by the membership community.
Any individual or DAO can choose to stake with validators running Spirals, turning their staking token balance into a climate impact funding machine!
Staking to a validator running Spirals allows one to receive normal staking rewards as well as voting rights, used to decide on core protocol changes, climate expert committee members, natural asset treasury management, and more.
Q: What is the mission and vision of Spirals?
Our mission at Spirals is to build a better tomorrow by aligning ecological and financial outcomes.
We want to build a world where natural assets are properly valued and no longer an externality of our economic system.
A world where humanity recognizes that it is in their benefit to live within boundaries of our ecosystem. Where humanity as a whole flourishes, thriving equitably.
Q: How does Spirals work?
We take a dual approach to addressing systemic problems in climate:
- build regenerative, value-backed blockchain primitives (like a revenue split method for Celo validators)
- finance high quality projects that look beyond climate symptom management
Spirals enables innovative climate impact projects to receive funding immediately.
Our climate council is comprised of a multidisciplinary committee of experts which will assess impact and feasibility.
Upon review, projects receive a “Spirals Seal” and are whitelisted for evergreen funding.
Legacy audits will make increasingly less sense as we move towards dMRV solutions were data is end-to-end on chain.
Spirals is perfect for projects that have proof built in to their protocol.
Spirals empowers anyone to effortlessly contribute to climate impact, and earn yield while doing so.
For example, with our cUSD staking option, you can simply hold your cUSD with Spirals and contribute continuously, passively, to impact.
Spirals captures the yield and never touches the principle. In return, you are issued SPRL.
Q: Why is staking Celo important?
Staking on an L1 is a way for those staking to earn yield, while the system as a whole becoming more resilient and less volatile.
In proof of stake consensus, staking with a validator signals trust.
Staking, however, barely scratches the surface of what we’re building at spirals.
Q: What can I do with $SPRL?
SPRL adopts a lot of governance incentives from Curve. Locking it up, into veSPRL gives you governance in the following:
- proposing new projects to receive funding
- vouching for projects in the review queue, to accelerate their review
- creating reward boosts on Project Pools
Anyone contributing to Spirals, wether directly or by staking, earns SPRL and can allocate their portion of contributions across any of the whitelisted projects.
Projects undergo an impact & feasibility assessment by our Climate Council, so any contributor to Spirals can allocate funds without worrying about quality: they can’t choose wrong.
Members choosing to allocate their funds, likely will choose to fund pools with greater Boosts. This incentivizes project developers to gain governance to boost their pools.
Listed projects immediately qualify for evergreen funding that’s captured through the ecosystem and various partners like the Climate Collective.
Q: How do you differentiate between high quality carbon projects vs low quality carbon projects?
We look at Impact in a very holistic way, focusing primarily on treating causes, not symptoms.
The classic additionally and permanence arguments still come in to play, but truly focusing on long term, systemic solutions, we’ve found is the only way.
To solve the climate problem, we need to:
(a) Reduce Emissions
(b) Remove Emissions
(c) Create Systemic Change
Carbon markets are a vehicle for reducing and removing emissions (a &b)
At Spirals, are missing tools for systemic change to address the core root causes (c)