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Solana Foundation Partners With NFT Project Coral Tribe

Coral Tribe, a regenerative finance (ReFi) focused collective, partners with the Solana Foundation to help strengthen Solana's ReFi community. The initiative will focus on the shared values of sustainability, collaboration, and community-driven progress.

February 24, 2023 by Illustrious

Coral Tribe, a regenerative finance (ReFi) focused collective, partners with the Solana Foundation to help strengthen Solana's ReFi community. The initiative will focus on the shared values of sustainability, collaboration, and community-driven progress.

Coral Tribe is a blockchain-powered crowdlending platform. Their ReeFi hub enables socially conscious internet users to invest in sustainable businesses by lending and trading their tokenized loans in a decentralized manner. The platform is open for everyone to use.

Projects leveraging art and technology that help to conserve the natural world can seek out raises their investment arm - Impact Fund. The fund seeks to aid in tackling conservation by promoting efficient practical, cultural, and scientific alternatives. This is a community-driven investment fund that matches investments democratically, where rewards are reaped collectively.

Their investments are vetted by a group of environmental scientists to ensure that investments are to truly sustainable businesses and proper marine conservation. After an investment opportunity passes through them, holders can then vote and can gain funding for the initiative.

The collaboration opens up doors for investors and conservationists to connect and drive a greener future; while potentially earning on return on the joint investments. In order to access the Impact Fund, investors must own a Coral Tribe NFT.

Solana has historically aimed to be a green blockchain and boasts a net zero carbon footprint according to the foundation here. One transaction on Solana uses 3,290 joules, which is 43.78x lower than a transaction on Ethereum.

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