As we conclude another successful quarter, The Tree Fund proudly announces remarkable positive yields, showcasing the potential of Green web3 initiatives.
During the second quarter of 2023, our traditional Algorand-based governance and DeFi strategies delivered an impressive yield of 38,852.28A. In March, Tree Fund Governors voted to take a position in BTC. As market conditions evolved and we observed what we believed to be a local high, coupled with a strong % change between BTC and Algo, we made the strategic decision to sell BTC and convert it back to Algorand. This tactical move generated a significant profit of 49,811A, which was then converted to USDC(a) at an advantageous exchange rate of ~14c, securing a yield of $7,081.99. These astute strategies resulted in a remarkable net yield of 11,291.31 USDC(a).
In addition to our Web3-focused activities, we are pleased to share the personal achievement of Tree Fund co-founder, Benji, who completed his first marathon, running the Brisbane Marathon in early June. Running on behalf of the Tree Fund, Benji raised an inspiring $1,024 USD.
Regarding the Q2 distribution, we involved our Fund Governors in two important votes. The first vote pertained to whether we should distribute just the yield or also liquidate and distribute a small percentage of The Fund’s AUM. The Governors aligned with our strategy and agreed that, given the current Algo pricing, it would be prudent to distribute the yield only at this point and defer the distribution of yield + % of AUM until later in the year. As a result, there is a total of $12,315 available for distribution to our tree planting partners.
The second vote involved the allocation of funds to each organization. As part of our commitment to supporting a diverse range of tree planting initiatives globally, it was decided that 50% of the funds would be allocated to Trees for the Future, with the remaining amounts distributed equally among Trees for Kenya, One Tree Planted, and the National Forest Federation.
With this distribution, our collective support will result in the planting of 31,094 trees during Q2. This incredible accomplishment brings the total number of trees planted through The Tree Fund to 255,466, crossing the significant milestone of surpassing a quarter of a million trees planted.
“We are thrilled by the continued success of The Tree Fund and its positive impact on the environment,” said Kavitha Palani, Co-founder of The Tree Fund. “We remain committed to exploring innovative strategies in the web3 space and contributing to a sustainable future by supporting tree planting initiatives worldwide.”
Trees for the Future
Trees for the Future trains communities on sustainable land use so that they can grow vibrant economies, thriving food systems, and a healthier planet. They train farmers in agroforestry and sustainable land use — so that they can grow vibrant regional economies, thriving food systems, and a healthier planet.
One Tree Planted
One Tree Planted is a non-profit organization focused on global forestation to restore forests, create habitat for biodiversity and make a positive social impact around the world.
National Forest Foundation
The National Forest Foundation (NFF) is a non-profit organization that supports the conservation and sustainable use of America’s National Forests and Grasslands. Their focus areas include promoting responsible recreation, restoring wildlife habitat, and protecting ecosystems. They achieve their mission through partnerships with federal agencies, corporations, and individual donors to fund projects that improve the health and productivity of these natural resources.
Trees for Kenya
Trees for Kenya is a Kenyan NGO that manages community tree nurseries and plants trees to restore degraded forest lands. They work with communities, the Community Forest Associations, and the Kenya Forest Service to identify areas in need of reforestation. Trees for Kenya also supports schools in their tree planting efforts and offers larger partners an opportunity to offset their carbon footprint through supporting reforestation and agroforestry.
Cashdillo
Cashdillo matches the goals of institutional clients with innovators and organizations working to achieve the UN’s Sustainable Development Goals. They help bridge the funding gap for developing world leaders and assist NGOs, philanthropists, and CSR departments in making sustainable funding decisions. Cashdillo uses blockchain technology to track impacts and bring increased transparency and accountability to social impact.
TreeFund.io
The Tree Fund was originally founded by the Goanna NFT project, which pledged to plant one tree for each NFT minted. After funding over 40,000 trees in the first three months, they merged with the AK Foundation to form a dedicated environmental impact fund. Donations and community initiatives are invested through DeFiprotocols, and the yield supports conservation efforts and tree planting projects worldwide. This approach makes the fund sustainable for both its supported projects and longevity.
