XELS XELS
XELS
0.1217
$
0.12 %
Change 24h
Market Cap
$ 2,389,740
Volume 24h
$ 302,288
Circulating Supply
19,588,300
Total Supply
21,000,000
Website
XELS
$
Description
XELS is an eco-conscious blockchain platform enabling corporations and individuals alike the ability to easily and transparently offset their carbon footprint by purchasing tokenized carbon offset credits.
Since the birth of carbon offset markets in the wake of the Kyoto and Paris agreements, fraud has been a serious problem. Bad actors have been known to sell fake or expired carbon credits, and credit ârecyclingâ fraud can lead to double spending of unretired carbon credits (see here for an example of one of the biggest fraud cases to hit carbon credits, which even ensnared Deutsche Bank. Blockchainâs distributed ledger technology is the perfect use case for carbon credits, as it cannot be changed, reversed, or double spent. Digital assets can also be âburned,â along with a transaction hash that proves the associated credit has been retired forever. Weâre initially launching the eponymous XELS token as a âplatform tokenâ to access a future suite of stable tokens pegged 1:1 to various industry-standard voluntary carbon offset credits â think of those as being the âUSDTâ of carbon credits.