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Regen Network (REGEN) is the 1467th largest cryptocurrency in the world by market cap, valued at $28,339,920. The current price of Regen Network is $0.146122, which is -3.418% lower than yesterday. Prices have ranged between $0.157435 and $0.145743 over the past 24 hours. All prices are listed in US dollars and accurate as of March 20, 2023 11:03 UTC.
The Regen Network was founded in 2017 with the ambition to reverse the adverse effects of climate change and land degradation; factors that one day will affect the world’s ability to access clean water and healthy food. Headquartered in the US state of Massachusetts, the Regen Network is a blockchain that connects economics with ecology to incentivise regenerative land-use practices, restore ecosystems and, therefore, help to reverse climate change.
The network, which was built using Cosmos’ Software Development Kit (SDK), aims to reinvent the way that farmers are seen – transforming them from merely food producers to land stewards, where their land regeneration efforts can be tracked and rewarded via the blockchain. The project hopes to provide both a transparent and accessible Ecological Services market.
According to the project’s website, Regen acts as an “ecological asset marketplace in the interchain economy, unlocking Web 3 regenerative finance.” The network is used to promote positive changes to ecological systems, by allowing land stewards (farmers) to sell ecological practices to buyers around the world. To become a Regen land steward, farmers are required to register a project such as cover cropping, agroforestry, or soil regeneration. The blockchain is responsible for processing and verifying all ecological data. Once verified, buyers can then use the native token, REGEN, to purchase, retire, and bundle carbon via the blockchain. As the Regen Network implements a Proof-of-Stake consensus mechanism, REGEN also operates as the governance and utility token of the network. Finally, the REGEN token is used as an issuance token for Ecosystem Service Credits. These credits ensure ease of transfer, cheap transactions, transparency, immutability, and proof of ownership.
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