Open Forest Protocol (OFP) — one of the pioneering projects on the NEAR Protocol — <a href="https://www.reddit.com/r/nearprotocol/comments/169u4q7/leaked_deck_open_forest_protocol_and_carbon/" rel="noopener noreferrer nofollow">recently saw its internal pitch deck make an unscheduled appearance on Reddit</a>. This leak offers an invaluable view into OFP’s potential growth and impact on NEAR’s growth and future trajectory.<h2 id="header-0">A Revolution in Carbon Credits</h2>For those unaware, OFP seeks to transform the voluntary carbon market, which is currently worth approximately $2 billion USD and is projected to soar to $50 billion USD by 2050. Utilising open-source technology, the project brings forth both ‘real-world assets’ tied to carbon sequestration and a ‘new asset class’ that represents a measurable amount of captured carbon. The aspiration here is to make OFP a reliable source for high-quality, cost-effective carbon credits.<img src="https://miro.medium.com/v2/resize:fit:1400/0*CI4QsYFfjvPsK_ao" />Slide 5 of the <a href="https://www.reddit.com/r/nearprotocol/comments/169u4q7/leaked_deck_open_forest_protocol_and_carbon/?rdt&#61;44756" rel="noopener noreferrer nofollow">leaked deck</a> compares OFP to traditional verification methods, and it’s clear that OFP offers compelling advantages. <h2 id="header-1">The Numbers Speak for Themselves</h2>Open-source projects are gaining traction for good reason, and OFP is no exception. The number of initiatives that are uploading data to OFP, or are in the process of doing so, is heartening to see.<img src="https://miro.medium.com/v2/resize:fit:1400/0*7cRK-WiYHJrkboNS" />The <a href="https://explorer.openforestprotocol.org/" rel="noopener noreferrer nofollow">OFP Explorer</a> linked in the document provides a transparent view into the status of each project that has joined the network.Slide 10 sheds light on the impressive market fit OFP has already achieved. With the platform only having been live for seven months and with a pipeline that’s 20 times the size of what’s already been onboarded, the project’s reach is likely set to expand significantly in the near future.<img src="https://miro.medium.com/v2/resize:fit:1400/0*8ptEFIfbFkIASFWW" />Slide 12 gives an insight into the expected value and potential earnings for OFP in the coming years:<img src="https://miro.medium.com/v2/resize:fit:1400/0*ZdlyaqV42VwzV2hg" />What is interesting about OFP’s disruption is that carbon credits are quite clearly categorised as commodities by regulators as this market already exists off-chain, just in a more analog form. Bringing the voluntary carbon market on-chain would thus be a clean disruption from a regulation point of view, and as Slide 14 alludes to: a source of tax revenue for Governments:<img src="https://miro.medium.com/v2/resize:fit:1400/1*qEzbLrbEZALlPrSvHE8lvA.jpeg" /><h2 id="header-2">Where do we go from here?</h2>The names of the organisations have been blurred out, but Slide 13 alludes to a number of significant partner organisations in the pipeline.<img src="https://miro.medium.com/v2/resize:fit:1400/1*YjChWBUsVKxAYPriAIRX3A.jpeg" />The projects currently involved with OFP are expected to generate substantial value within the next two years, contributing nearly $4 million in fees to the protocol. The ongoing focus on forest initiatives suggests that this value could recur annually for as long as the forests continue to grow.These credits are fully ‘on-chain’, making them compatible with DeFi markets and liquidity pools.OFP has also planned for its carbon credits to fit cleanly within existing regulatory frameworks, classified as commodities, thus allowing for a seamless transition to blockchain. Assuming this deck is accurate, it looks like OFP has potential to be one of the first revenue positive ReFi projects, leading the way — similar to Aave from past DeFi cycles. Onboarding all of these organisations could potentially create close to $200m USD per year for the ecosystem (rough estimate), and over $12m a year in fees. <h2 id="header-3">Key Takeaways from the OFP Leaked Deck:</h2>As an early venture in the NEAR ecosystem, OFP is strategically placed to contribute to NEAR’s growth, both in terms of ReFi capabilities and liquidity enhancements.<ul><li>Early Success &amp; Market Fit: Despite being live for just seven months, OFP has gained significant traction with a project pipeline 20 times larger than its current size, indicating strong market fit.</li><li>Financial Outlook: OFP projects are set to generate close to $4 million in fees within the next two years, with revenue potentially recurring annually due to its focus on forest projects.</li><li>Regulatory &amp; DeFi Compatibility: The project’s carbon credits are fully ‘on-chain,’ making them compatible with decentralised finance (DeFi) markets. They are also categorised as commodities by regulators, facilitating a smooth transition to Open Web infrastructure.</li><li>Potential for Future Growth: Leaked slides hint at upcoming major partnerships that could further amplify OFP’s value and make it a pioneering, revenue-positive ReFi project.</li></ul>Open Forest Protocol: <a href="https://twitter.com/OpenForest_" rel="noopener noreferrer nofollow">Twitter</a>, <a href="https://www.openforestprotocol.org/" rel="noopener noreferrer nofollow">Website</a>, <a href="https://lookerstudio.google.com/u/0/reporting/696f935a-90da-43f9-a356-1b4abbb788c2/page/p_8s2im1wdtc?s&#61;rjhrWz4UREI" rel="noopener noreferrer nofollow">Dashboard</a>Disclaimer: The information presented herein has been provided by third parties and is made available solely for educational and general information purposes. Nothing in this newsletter should be construed as legal, tax or investment advice.<h2 id="header-4">About NEARWEEK</h2>NEARWEEK is the ultimate destination for all things related to NEAR. As the official NEAR Protocol newsletter and community platform, NEARWEEK goes beyond journalism in order to actively celebrate, participate in, and contribute to the NEAR ecosystem.<a href="https://shard.dog/nearweek" rel="noopener noreferrer nofollow">NEAR Newsletter</a> | <a href="https://near.org/near/widget/ProfilePage?accountId&#61;nearweek.near" rel="noopener noreferrer nofollow">NEAR Social</a> | <a href="https://near.org/achildhoodhero.near/widget/nearweek.editorial.bos" rel="noopener noreferrer nofollow">Editorial (dApp)</a> | Twitter<h2 id="header-5">About NEAR (BOS)</h2>NEAR is on a mission to onboard a billion users to the limitless possibilities of Web3 with the Blockchain Operating System (BOS). Leveraging its high-performance, carbon-neutral protocol, which is swift, secure, and scalable, NEAR offers a common layer for browsing and discovering the open web.NEAR Discovery | <a href="https://near.org/blog/interactive-polygon-zkevm-app-dashboard-launches-on-the-near-blockchain-operating-system" rel="noopener noreferrer nofollow">Polygon zkEVM Dashboard</a> | <a href="https://www.neardc.org/" rel="noopener noreferrer nofollow">NEAR NDC</a> | <a href="https://twitter.com/NEARProtocol" rel="noopener noreferrer nofollow">Twitter</a>

OPEN FOREST PROTOCOL: EMERGING AS A BLUECHIP REFI PROJECT ON NEAR [DECK LEAK ANALYSIS]

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Ďalšie články zverejnené 19. 9. 2023

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