Menthol Protocol brings eco-transparency and carbon credits to the Economy of Things on peaq

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by KnowESG
Image of peaq and Menthol protocol logos

May 23peaq, the Web3 network powering the Economy of Things, unveils integration with Menthol Protocol, the first multi-chain decentralized sustainability protocol with automatic carbon offsetting. Menthol Protocol joins the peaq ecosystem to build a carbon footprint calculator for decentralized applications and Decentralized Physical Infrastructure Networks (DePINs) running on peaq and its canary network krest. In following  stages, the integration will unlock automatic on-chain carbon offsets for any projects building on peaq, make its energy consumption more transparent, and bring more liquidity into the ecosystem.

While Proof-of-Work blockchain networks have seen their fair share of criticism over their appetite for electricity, the Web3 space is experimenting with other, less demanding consensus models. By spearheading its eco-friendly Nominated Proof-of-Stake model and leveraging a hub-and-spokes architecture, Polkadot, the layer-0 blockchain hosting 100 mission-specific parachains, has become the greenest major blockchain network in the world. Soon to be a Polkadot parachain, peaq also works toward greater sustainability, which demands greater transparency and clear-cut metrics.

The integration with Menthol Protocol will bring the observability of the network’s carbon footprint to a whole new level, while also allowing it to become even more sustainable via automated offsets. Menthol Protocol works toward a more sustainable Web3 by bringing dApp builders and decentralized communities a handy and versatile tool for measuring and offsetting their carbon footprint with on-chain credits. The protocol handles the off-sets automatically in line with the user’s needs and preferences, leveraging pools of trusted on-chain sustainability and impact projects.

Menthol’s integration with peaq will begin with a custom set of metrics that the project will develop to measure the carbon footprints of dApps and DePINs on peaq. It will look into the network’s overall hash rate, or computational power, as well as the energy sources the network relies on. These metrics will eventually power the first version of its peaq-specific carbon calculator, which will offer the community a whole new level of transparency into peaq’s sustainability. 

Besides an overview of the network’s eco-stats, the calculator will also work as the basis for an offsetting mechanism that will enable any dApps and DePINs on peaq to go carbon-neutral. The mechanism will leverage automated transactions powered by various sustainability and impact on-chain projects via Menthol Protocol. The tool will be easy to integrate and set up, enabling a smooth drive toward greater sustainability within the ecosystem. It will also encourage more IoT device manufacturers and machine-focused projects to join the peaq ecosystem to leverage the automated offsets, thus bringing more liquidity and promoting its growth.

In the longer run, the calculator will be updated to reflect the carbon footprints of the machines on the network, including those running as part of various peaq-powered DePINs. This will enable the community to get a better understanding of how their machines impact the environment and give preference to devices with more sustainable carbon profiles.

“Becoming carbon-neutral is one of the key conditions for real-world Web3 adoption. Menthol Protocol enables developers, builders, and entire decentralized communities to easily track and offset their carbon footprints. Bringing these capabilities to peaq, we are upping this by a notch and linking real-world machines and services with on-chain sustainability mechanisms — a clear-cut showcase of how Web3 can change the world for the better.” — Amir Sultan Awan, CMO of Menthol Protocol. 

“The Economy of Things must be as transparent as possible, and giving the community a detailed breakdown of how sustainable it is is an important step toward that. The peaq network will run on Web3’s greenest foundation, and Menthol Protocol will enable it to become even greener through increased visibility and automated offsets built into dApps and DePINs.” — Till Wendler, co-founder of peaq.  

About Menthol Protocol

Menthol Protocol is a multisided platform offering a one-stop solution to automate companies' and individuals' sustainability goals, with transparent, verifiable, automated, and customer-engaging climate action together with marketing tools. With only a few clicks, Menthol Protocol will enable climate action and climate finance on auto-pilot.

For more information, visit Menthol Protocol.

About peaq

peaq is the Web3 network powering the Economy of Things (EoT) on Polkadot, the most environmentally friendly blockchain network. peaq enables entrepreneurs and developers to build decentralized applications and DePINs for vehicles, robots, and devices, while empowering users to govern and earn as connected machines provide goods and services. Together with leading consortia such as , peaq is co-creating the standards that will power the future of mobility and other connected industries while working to democratize abundance in the Age of Automation.

For more information, visit peaq.

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