Cardano Foundation reaches milestone of one million trees planted

The Cardano Foundation, a nonprofit organisation, has reached its target of one million trees planted as part of the Cardano Forest environmental project, using the ADA token.

What an achievement! The #CardanoForest is 100% funded, we’ve reached the 1 million trees milestone. The success of this first Cardano Global Impact Challenge for the Cardano Ecosystem truly shows the power of our community.

— Frederik Gregaard (@F_Gregaard) January 9, 2022

“Cardano Forest is funded 100%; we have reached the million-tree milestone. The initiative’s success truly demonstrates the strength of the Cardano community,” wrote Frederik Gregaard, the CEO of the organisation.

The environmental initiative is implemented in partnership with the Veritree startup. Users exchange ADA for TREE tokens, each equal to one tree. The minimum donation is 15 ADA; there is no cap.

The tokens can be redeemed for NFTs on designated “redemption days.” The rarities of the digital collectibles depend on the amount donated, there are nine tiers in total.

According to Veritree, the maximum donation at the time of writing stands at 100,000 ADA (~$111,000).

“Cardano Forest will support land reclamation work and the development of the local ecosystem in Mombasa, Kenya. All trees planted will be recorded on the Cardano blockchain to increase transparency and serve as public proof of the project’s activity,” noted Gregaard.

Earlier, Charles Hoskinson, the head of the Cardano development company IOHK, outlined plans for the platform’s development in 2022.