RCIF II - Five bullet Friday - Issue # 38

    All of you should have received the statements for the month of September. I am delighted to announce that we have sent out the distributions for the month of September. Based on what I am seeing so far, October month is looking very good.

1. SEC approving a bitcoin ETF shows that they are open to this emerging asset class. Houston Firefighters Pension Fund Makes Bitcoin, Ether Purchase. A pension fund for firefighters in Houston has made a purchase in bitcoin and ether facilitated by bitcoin investment firm NYDIG. The Houston Firefighters’ Relief and Retirement Fund’s (HFRRF) purchase marks the first time a public pension plan in the U.S. has announced an investment in digital assets, according to an announcement Thursday.

2. We are currently one of the largest holders of Klima tokens in the world. Marc Cuban announced that he is a big investor in the Klima token. (check from 27:28 section of this Podcast). Marc Cuban is a well-known investor who appears on the TV series called Shark Tank. Governments around the world are failing us to curtail CO2 emissions. KLIMADAO produced a solution that combines the powers of DeFi, Ethereum blockchain, and carbon offsets.

3. KLIMA protocol gets me very inspired for the planet. Any investment we make not only helps the planet by driving out the polluters and makes us money. We are currently offering a yield-bearing asset, called Carbon Offset Bond (COB) as a new product to the partners in the fund. This is a secured promissory note, that purchases Base Carbon Tons (BCT tokens ) with the dollars received from the savers. Today the price of 1 base carbon ton is close to $10. Therefore, if we receive $100,000 from an investor, we will purchase 10,000 tons of BCT tokens and bond them in KLIMA. 

4. It is possible to buy these Base Carbon Tonnes from two popular registries called, Verra.org and Gold Standard. They source the carbon offsets from various projects that are planting forests in Amazon and launching sustainable projects. We will be using Verra registry to purchase carbon offsets and bond them with KLIMA project. The below image shows how much Carbon dioxide is removed from one single carbon offset.

5. These carbon offset bonds pay an annual interest of 18% paid on a monthly basis. Every $100,000 COB produces $1500 of monthly income via post-dated checks. If you are an institution you can hold these Carbon offset bonds, on your balance sheet to offset your carbon emissions. It shows to your stakeholders your commitment to reducing your carbon footprint. These bonds are backed by BCT tokens, whose price is only destined to go up. So the collateral value backing the bonds is always going up, which is great for a bond.

Have a wonderful weekend!

Sam Ikkurty

Managing Partner