Title of your idea
Protector - Endangered species synthetic
We all know animals need to be protected from human activity if we want them to survive, but this does not always happen.
One of the reasons is that people are not directly incentivized in protecting animals, while they are rewarded when not doing it (selling the animal pieces, using the animal’s territory for human activities…).
And when incentivized, it is usually done by rewarding the actions (what people tried to do to protect the species) but not results (how many creatures were actually saved) which is better than nothing but not highly efficient…
This synthetic token solves these problems, as it will reward those who successfully protect species.
Note: this synthetic is a long term investment token. It’s not a daily trading asset. Animal population will not change very fast (at least when increasing) and the data updates will not change every day either, so it’s something built for the long term use.
- an NGO protecting white tigers buys WT-Protectors synth before starting its action. 5 years later, the number of white tigers doubled. So does the token price, rewarding financially the NGO for its work.
- a protected Reserve wants to protect rare spiders on its territory, but local people love eating them, as it’s a traditional dish there. The Reserve can distribute S-Protectors’s KPI token to local leaders, that will be incentivized if the number of living spiders reach some of the targets. They will then support the protection of the spider and try to convince their fellow citizens.
Which metric will your synth track?
The numbers of living creatures for every endangered species.
How will you get data for your metric
Data for the IUCN Red list (https://www.iucnredlist.org/) are publicly available, hard to corrupt and worldwide. It could be a perfect data to start with.
We could later focus on finding more local data to reward more local behaviors.
What collateral would you use for this synthetic
A stable coin like USDC to reduce the volatility problem.
We are not looking to reach crypto-enthousiasts here, but people looking for stability and visibilty.