.GreenAnt launched its first project in Thailand in January 2022. There we have been working in close connection with the Thai Institute for Scientific and Technological Research (TISTR) and with local farmers. We are in personal exchange with farmers’ communities and local organisations, who take responsibility and daily care of the trees’ plantation, their maintenance, and preservation.
Currently, we are in the process of tokenizing trees, whose property rights will remain at the exclusive disposal of the tree owner, land owner or farmer depending on the case. The ultimate product that GreenAnt is selling to the public is the GreenAnt Non-Fungible Token (“NFTree”), which gives rights to the owner over the carbon sequestration capability of the specific tokenized tree at stake. Each and every NFTree represents a tokenized tree that has already been planted and whose metadata has been recorded.
- “$GA”: carbon credits in the form of GreenAnt cryptocoins, generated as a result of the carbon storage activity of each and any Tokenized Tree during its entire monitoring period, by default 10 years if not specified differently in the smart contract.
- “GreenAnt DAO”: GreenAnt’s Decentralised Autonomous Organisation composed by, inter alia, farmers, land-owners, tree-growers, governments, carbon standards, Remote Sensing Companies (RSC), satellite image providers, investors, and NFTree Owners, which grants to each and any of the members voting rights over certain GreenAnt’s strategic matters, as specified in Sections 2.1 and 2.2 of the GreenAnt’s Whitepaper available here.
- “GreenAnt NFTree Reserve”: a batch of Tokenized Trees in possession of GreenAnt, equal to 5% of all the Tokenized Trees, exclusively reserved for substituting the inactive NFTrees with analogous NFTrees linked to Tokenized Trees of equivalent species, characteristics, and location.
- “Inactive NFTree”: NFTree that no longer generates $GA in favor of the NFTree Owner due to the expiration of the Monitoring Period, death of the underlying tree, or impossibility to monitor the Tokenized Tree.
- “Monitoring Period”: 10 years period starting up to 6 months after the tokenization of each Tokenized Tree. During this period, the carbon sequestration data of each and every Tokenized Tree is monitored and updated. This process will be performed every 6 months on a regular basis starting from the first monitoring. After the expiration of the Monitoring period, the relevant NFTree will become inactive and will no longer produce $GA in favor of the Purchaser.
- “NFTree”: GreenAnt’s Non-Fungible Token which grants rights over the carbon storage capacity of its underlying Tokenized Tree. Every NFTree can be regarded as a utility token, being a crypto asset that allows the Owner to exploit the carbon sequestration of its Tokenized Tree and exercise the relevant rights stemming from the GreenAnt DAO.
- “Purchaser” or “Owner”: the person who purchases the NFTree and acquires its related rights.
- “Tokenized Tree”: the specific tree linked to a specific NFTree, whose metadata and carbon storage capacity is monitored during the whole duration of the Monitoring Period.
By way of purchasing a NFTree, the Purchaser agrees to the following terms and conditions:
- The purchase of an NFTree solely concerns the ownership over the CO2 storage capacity of the specific underlying Tokenized Tree, limited to the entire duration of the Monitoring Period and in exclusive favor of its Owner. The Tokenized Tree itself, as well as the land on which the tree is planted, remains in full ownership of the farmer who takes care of its maintenance and preservation or of those who legally own the land, in accordance with the local laws. As a result, the Purchaser will only acquire rights over the carbon storage capacity of its Tokenized Tree, which rights will be granted for the entire duration of the Monitoring Period, according to the smart contract linked to the specific NFTree.
- Should the Tokenized Tree die or lose its carbon storage capacity during the Monitoring Period, the related NFTree Owner will be immediately indemnified by way of replacing its Inactive NFTree with a new NFTree linked to a new Tokenized Tree grating equivalent residual carbon storage capacity (i.e. a tree of the equivalent age, species and geographical location). In such a case, the Owner of the Inactive NFTree is automatically indemnified by way of receiving an analogous NFTree, linked to a Tokenized Tree randomly allocated out of the GreenAnt NFTree Reserve. In any event, under no circumstances the Owner shall be entitled to any monetary refund.
- By way of purchasing a NFTree, the Purchaser is entitled to be part of the GreenAnt DAO ecosystem, acquiring different types of voting rights over the promotion and development of the GreenAnt’s projects, as specified in Sections 2.3.2 and 2.3.3 of the GreenAnt’s Whitepaper available here.
- According to the GreenAnt project timeline, the non-binding estimated start of the carbon sequestration monitoring of the Tokenized Trees is set for September 2023. Therefore, the NFTrees carbon sequestration will not be measured until the Monitoring Period begins. Only after a period of 6 months starting from the Monitoring Period, an NFTree will start to generate $GA, which equals the amount of CO2 stored in a Tokenized Tree. In numbers, 1 $GA equals to 1 kg of CO2 removed from the atmosphere. The NFTree Owner will be rewarded with 1 $GA for each kg of CO2 that has eventually been stored in its Tokenized Tree.
- The Purchaser acknowledges and understands that: (i) the sale of NFTrees and the NFTrees themselves are not currencies, securities, commodities, swaps on a currency, security or commodity, or financial instruments of any kind; (ii) purchases and sales of NFTrees are not subject to the protections of any laws governing those types of financial instruments; and (iii) this agreement and all other documents referred to in this agreement, do not constitute a prospectus or offering document, and are not an offer to sell, nor the solicitation of an offer to buy a currency, security, commodity, or a swap on either a security or commodity or a financial instrument of any kind.
- The Purchaser is aware of and acknowledges that the purchase of NFTrees: (i) shall not provide the Purchaser with rights of any form with respect to GreenAnt’s revenues or assets, including, but not limited to, any voting, distribution, redemption, liquidation, proprietary (including all forms of intellectual property), or other financial or legal rights over GreenAnt’s company; (ii) shall not be deemed to be a loan to GreenAnt; and (iii) shall not provide the Purchaser with any ownership or other interest in GreenAnt.
- Any estimated return on investment and any estimated coin generation by the purchased NFTrees are subject to variation in quantity and in value and therefore they should be solely regarded as a mere and non-binding estimation. The Purchaser understands that any estimation regarding the amount of CO2 sequestered or stored provided by GreenAnt is non-binding and just an approximation. GreenAnt will not be responsible in any case if the CO2 sequestered during the Monitoring Period differs from the amount in any way advertised by GreenAnt at the moment of purchase
- The price of an NFTree is set by GreenAnt according to the expected carbon storage capacity of a Tokenized Tree and the current and expected carbon market price. Any costs incurred by GreenAnt through the tokenization and monitoring of the trees as well as the collection value that is estimated for each NFTree are taken into account.
- The Purchaser agrees to be the ultimate and sole responsible for the creation and the safety of a personal crypto wallet. Specifically, at the moment of the purchase of the NFTree, the Purchaser will be requested to create or link a personal crypto wallet where the purchased NFTree will be stored. The creation of a compatible crypto wallet is the sole and absolute responsibility of the Purchaser. The purchased NFTree may be held by the Purchaser in his own digital wallet or vault, which requires a private key, or a combination of private keys, for access. Accordingly, the Purchaser is aware that the loss of necessary private key(s) associated with its digital wallet or vault storing NFTrees may result in the loss of such NFTrees, access to its NFTrees balance, or any balances in blockchains created by third parties. Moreover, any third party that gains access to the such private key(s), including by gaining access to login credentials of a hosted wallet or vault service the Purchaser uses, may be able to misappropriate the Purchaser’s NFTrees. In this sense, the Purchaser acknowledges and accepts that GreenAnt shall not be liable and/or responsible under any conditions whatsoever for any of such losses. In such an event, the Purchaser acknowledges, understands, and agrees that all purchased NFTrees are non-refundable and the Purchaser shall not receive money or other compensation for any NFTrees purchased.
- The Purchaser shall be the sole responsible for compliance with any tax obligations arising from the purchase and/or receipt of NFTrees. GreenAnt shall bear no liability or responsibility with respect to any tax obligation of the Purchaser in respect of the purchase and receipt of any NFTrees.
- The Purchaser accepts and declares to have enough knowledge and experience in business and financial matters, including a sufficient understanding of blockchain or cryptographic tokens and other digital assets, smart contracts, storage mechanisms (such as digital or token wallets), blockchain-based software systems and blockchain technology, to be able to evaluate the risks and merits of purchase of NFTrees, and is able to bear the risks thereof, including loss of all amounts paid, loss of NFTrees. The Purchaser has obtained sufficient information in order to make an informed decision to purchase NFTrees.
- The Purchaser is aware of and accepts the possible risks arising with the purchase of a NFTree, including but not limited to those mentioned in this article. NFTrees, like any other equivalent non-fungible token, may be subject to expropriation and/or theft. Hackers or other malicious groups or organizations may attempt to interfere with the NFTrees in a variety of ways, including, but not limited to, malware attacks, denial of service attacks, consensus-based attacks, smurfing, and spoofing. Furthermore, because the blockchain platform Polygon rests an open-source software and NFTrees are based on open-source software, there is the risk that the Polygon blockchain may contain intentional or unintentional bugs or weaknesses that may negatively affect the NFTrees or result in the loss of Purchaser’s NFTrees, the loss of Purchaser’s ability to access or control its NFTrees or the loss of any other assets in its account. In the event of such a software bug or weakness, there may be no remedy, and Owners of NFTrees are not guaranteed any remedy, refund, damages, or compensation by GreenAnt.
- Purchaser’s use of third-party platforms (including links, pop-ups, etc.) is subject to Purchaser’s agreement with the relevant provider and not with these terms and conditions or any other agreement concluded with GreenAnt. Purchaser agrees, acknowledges, and accepts that GreenAnt does not control and has no liability for third-party platforms, including their security, functionality, operation, availability or interoperability or how the third-party platforms or their providers use customer data. In no event whatsoever, including any kind of omission and negligence, GreenAnt will be responsible for any data breach occurring on any third-party platforms and affecting the Purchaser who, therefore, in a case as such will not be entitled to any kind of refund, compensation or indemnification from GreenAnt.
- The Purchaser is aware that the initial project of GreenAnt as well as all future projects are still under development and may undergo significant changes over time. Although GreeAnt intends for its projects to have the features and specifications set forth on the GreenAnt official website in the section dedicated to Docs, GreenAnt may change some features and specifications for any number of reasons, any of which may mean that the projects do not meet the Purchaser’s expectations. As a result: (i) the projects may never be completed; (ii) the projects may not be completed as initially proposed by GreenAnt or in a different or modified form; (iii) a blockchain utilizing or adopting features of the projects may ever be launched; (iv) and a blockchain may never be launched with or without changes to the projects. The Purchaser is aware of the risks and/or potential changes described above. Any changes and/or occurrence of risks described above shall not make GreenAnt liable for any kind of compensation, indemnification, penalty, or any damages payable to the Purchaser.
- GreenAnt shall retain all rights, titles, and interests in all of GreenAnt’s intellectual property, including, without limitation, inventions, ideas, concepts, codes, discoveries, processes, marks, methods, software, compositions, formulae, techniques, information and data, whether or not patentable, copyrightable or protectable in trademark, and any trademarks, copyright or patents based thereon. The Purchaser shall not use any of GreenAnt’s intellectual property for any reason without GreenAnt’s prior written consent.
- The funds that the Purchaser shall use to purchase NFTrees are not derived from or related to any unlawful activities, including but not limited to money laundering or terrorist financing. In any event, under no circumstances GreenAnt shall be deemed to be responsible and or liable for any Purchaser’s act, omission, or conduct that might cause it to be in noncompliance with any applicable anti-money laundering or anti-terrorist or economic sanctions legislation, regulation or guideline.
- The Purchaser may terminate these terms at any time by selling its NFTree on the private market and/or via third-party platforms, discontinuing its access to and use of GreenAnt’s services. In this case, the Purchaser will not be entitled to any claims towards GreenAnt and will not receive any refunds or indemnity whatsoever by GreenAnt.
- This agreement and all actions arising out of or in connection with this agreement shall be governed by the laws of the Netherlands, without regard to the conflicts of law provisions of any jurisdiction. Any controversy or claim arising out of or relating to these terms and conditions, or the breach thereof, shall be ultimately and exclusively settled by the competent courts in the Netherlands.