0xA3C0
November 1st, 2021

It was approximately 12:30 am in Amsterdam. I had a flight back to the states the next morning which I’d have to get up early for. Still, there I was, trying every cheap trick I knew (hard refresh, switch to Firefox?) to get Klima DAO’s application to work for me. I needed to claim my aKLIMA to swap them for KLIMA tokens. Then I’d ‘stake’ my KLIMA and start reaping a 300,000% annual percentage yield (“APY”). Or I could sell my KLIMA tokens, which had just launched public trading hours earlier at a price of $323. Post launch, KLIMA immediately skyrocketed north of $1,200. Then it kept climbing.

If all of this sounds like a foreign language, it’s because the processes can indeed be pretty labyrinthine for the uninitiated. I’ve been deep in the crypto and ‘DeFi’ trenches for months. Navigating the Klima DAO launch was still challenging. My interest was less motivated by ‘generational wealth’ (as opposed to the majority of the folks in the #price-talk channel in Klima DAO’s Discord server). Rather, I ‘reserved’ a few aKLIMA ~6 weeks ago to properly diligence this emergent, ambitious, complicated entity, whose stated goal is to make carbon offsets more expensive.

In the short time since they first crossed my radar, Klima DAO has tapped a very powerful asset, namely the confluence of two major memes in today’s zeitgeist ⚡. The first is the need for climate action. People know we need to take action about climate. The chance to feel like you’re doing something is irresistible, especially when so much discussion about climate is couched in the language of certain doom. In parallel, the allure of making money, whether it be in sports betting, stocks, or crypto is oozing out of every pore of our increasingly digital, gamified society 📈.

Klima DAO has harnessed both these movements to gain a massive amount of momentum. But what is Klima DAO? It is at once a discord server with 30,000 members, an organization with aims of being “decentralized” and “autonomous” (read as: governed by their own members, ideally leveraging as much code as process for the autonomous part). It has its own crypto token, KLIMA, and a corresponding set of monetary policies. And its aim is to impact prices in a very ‘real-world’ market.