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

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

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

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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.

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

Data Source: coinmarketcap.com

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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.

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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. 

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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.  

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