WingRiders Ecology Fund Update

Hey Riders, in this blog we are going to talk about a subject we have written about and feel an update is now due. The WingRiders Ecology Fund (WREF) has helped shape a core part of our philosophy about how WingRiders as a project should think and act responsibly toward the wider environment, which we as a project and all other businesses affect directly or indirectly.

Because all living things thrive in parts of their environment that are good for them, the natural environment is not something that can be ignored without thought. Although the environment may persist in its natural condition, human involvement has wreaked havoc on many ecosystems. It is critical that we safeguard our environment so that we may continue to live on our planet, thriving in our development as a species.

Any creature that exists on the face of the earth leaves its own imprint. Businesses, like people, make an indelible mark on the environment in which they operate. This has been a source of contention for almost a century, and no world benchmark resolution has been found.

At WingRiders, we feel strongly that this type of thinking needs to be built into the DNA of a project. It’s clear that man-made issues are causing damage to our environment and wreaking havoc on our remaining wilderness. The linked climate impact hinders our ability to access goods and services. It’s also possible that long-term changes to our ecology and climate can worsen pandemics. According to Stand for the Trees, an NGO, 137 species of animals, plants, and insects are wiped out every day. If we take concerted action, it is possible to mitigate some of these effects. There are many environmental topics, but wilderness (and its preservation and, ideally, expansion) is one of the toughest to put an ROI on. Because of this, it is often the last when it comes to structural change. Driven by this, Wingriders will use a substantial amount of its earnings to revitalize the wilderness on our planet. Funded by transactions and directed by the community, an impact-driven ecology fund was born.

But what does it mean that we want to create an ecology impact fund? Well, first of all, it is not easy, and we accept this. The aim is for this to be a core part of the project and governed transparently by the Dao Governance. It is not a ”greenwashing” sidechain vanity project. From the overall tokenomics of the project, 3 percent was allocated to bootstrapping the fund and establishing an initial budget. Currently, these funds are sitting in the treasury waiting for the next bull market and/or more radical positive development of the WRT token.

On top of allocating 3% of our total token supply, we keep considering even include a percentage of the fees accumulated in the DAO Treasury platform to the WingRiders Ecology Fund (WREF). The power and potential of DeFi should be used for a cause benefiting the real world. The fund will be overseen by the WingRiders DAO and will accrue funds for distribution on a regular basis. These funds will be delegated to recognized and reputable ecology-focused nonprofits and NGOs working in different regions around the world, mainly in the area of rewilding our planet.

The preferred concept is to distribute the tokens after a regular period (month, quarter, etc.) and distribute them to the top 1–5 countries potentially identified by the IP addresses of users. This gives our community power over the selection and also allows the community to select and submit charities in their local jurisdiction for review and DAO approval. The aim is to engage the community and drive some of the value derived from the platform back to the environment.

Crypto exists entirely online, but we do not. It’s great to see projects like Cardano Trees marrying Cardano NFT art, ecology, and education together to raise awareness of the importance of trees and collaborating on environmental care projects.

As always, we would like to be transparent about all our decisions with our community. Since the token price is low due to the current crypto bear market, we don’t think it’s a good idea to start this donation to charitable organizations now. Instead, we think that once the market starts to recover, this contribution will be most beneficial financially for the causes. The funds remain in the Ecology Fund part of the Treasury, and once market conditions improve, the donations and mechanisms will be subject to DAO proposal and voting.

We also would like to express our desire to work with or partner with any other crypto projects, exchanges, or groups on this initiative; as we said earlier, we are not considering this a marketing activity, and we’d be happy to work with anyone whose values and goals align with the WREF.

For more collaboration suggestions on the fund, or to request more information, get in touch at [email protected]