Is Dovu (DOV) crypto migrating to HTS after US$100 mln boost?

March 10, 2022 10:37 AM PST | By Versha Jain

Google News:

Is Dovu (DOV) crypto migrating to HTS after US$100 mln boost? — Image source: Thongden Studio,Shutterstock.com

Recent News

Debt Use in Steel Sector and Its Influence on Metals & Mining

Duolingo Inc Sees Gains Amid Mixed ROE Trends S&P 500

DigitalOcean DOCN Drops Despite AI Growth Boost in NYSE Composite Sect...

Rivian Stock Key Metrics to Track Amid EV Credit Changes Nasdaq Compos...

Highlights

Dovu (DOV) is a cryptocurrency that operates on the Ethereum platform.

It currently has 5,592 token holders.

Dovu (DOV) received a grant of US$100 million from HBAR Foundation’s climate fund.

Dovu (DOV) on Thursday said it received a grant of US$100 million from the HBAR Foundation’s fund, the first to receive the climate fund from HBAR.

Dovu plans to use the fund to boost its capabilities to verify the carbon-offset data, carbon accountancy, API development, and migrate DOV to hedera token service (HTS).

What is Dovu (DOV)?

Dovu (DOV) is a cryptocurrency that operates on the Ethereum platform. It aims to reduce carbon footprints from the environment.

Dovu’s marketplace offers carbon credits besides aggregating carbon data using the Hedera Hashgraph for Ethereum-based projects. It also publishes the carbon debt for transparency.

Further, the platform offers tokenomic suggestions to enterprises and individuals to offset carbon debt by investing in DOV, its native token.

Also Read: Why Russian blogger’s Crypto Hasbulla NFTs trending?

Dovu claims to have a circular economic model where farmers are incentivized to extract carbon from the atmosphere and sell the carbon credits on the marketplace.

Dovu (DOV) was down 6.99% to US$0.0204 at 9:39 am ET on Thursday.

Also Read: Why is Immutable X (IMX) crypto rising?

(How will carbon-offsetting Dovu (DOV) crypto use US$100 million?)

Data Source: coinmarketcap.com

Also Read: Why is NFT game Alien Worlds’ (TLM) offer catching attention?

What is HBAR Foundation?

HBAR Foundation is a philanthropic subsidiary of Hedera Hashgraph, a distributed ledger firm.

It was established in September 2021. The foundation has launched the Sustainable Impact Fund (SIF) to support climate-centric solutions within the Hedera ecosystem.

The foundation claims its comprehensive grant program provides funding and advisory support in technology, marketing, and business development. The ecosystem helps scale adoption and spread awareness about the project to achieve the 2030 UN Sustainable Development Goals.

Also Read: From VALE to BHP: Top nickel stocks to explore amid supply concerns

Token Details:

The token has a market capitalization of US$18,99 million. Its circulating supply is 931.15 million DOV, and the total supply is 963.76 million.

DOV has 5592 token holders, of which the top 100 holds 87.93% of the total. DOV’s trading volume rose 24.51% to US$53,043 in the last 24 hours to Thursday morning.

The toke is supported by Trush Wallet, MetaMask, and Binance Chain Wallet. It can be traded on PancakeSwap (V2), Uniswap (V2), 1inch Liquidity Protocol, and Hotbit.

Also Read: Top 5 Agri commodity stocks - ADM, MOS and 3 others to explore

Bottomline

In 2022, the HBAR foundation plans to invest in various climate projects, from renewable energy to sustainable consumption. Dovu has recently announced a partnership with KlimaDAO to measure and offset the impact of Web3 activity.

The Crypto market is volatile and fraught with risks. Hence, investors should exercise due diligence before investing in the crypto market.

Risk Disclosure: Trading in cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory, or political events. The laws that apply to crypto products (and how a particular crypto product is regulated) may change. Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading in the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed. Kalkine Media cannot and does not represent or guarantee that any of the information/data available here is accurate, reliable, current, complete or appropriate for your needs. Kalkine Media will not accept liability for any loss or damage as a result of your trading or your reliance on the information shared on this website.

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media LLC (Kalkine Media, we or us) and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures/music displayed/used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it, as necessary.