Our Mission
WaterLAB, formerly WaterDAO (Water Information Certification Systems DAO LLC), is a Wyoming registered corporate entity autonomously managed by smart contracts (token governance). The purpose of WaterLAB is to enable mass-scale water production by creating a standardized protocol for classifying, measuring and owning the beneficial attributes of adding more fresh water to the system. We do this with water credits in order to create a voluntary water market for purchasing water.
There are three primary use cases for water credits:
I. Retire - water credits are retired to achieve water stewardship or as an offset
Water credits are used as an offset to replace water by proving the holder supported additional water production through the purchase of credits.
The water credit is burned (taken out of circulation) and replaced with a unique digital certificate of retirement (called a non fungible token, NFT).
The NFT certificate serves as an accounting tool and trusted receipt for measuring progress towards voluntary water sustainability targets.
II. Redeem - water credits are redeemed to receive water
Each credit is an actual water contract that entitles the holder to one unit (1 m3) of physical water - so every water credit is backed by an equal amount of water. Every water credit specifies the production location where the physical water is delivered and we use a pricing algorithm to determine the local price. Upon redemption of a water credit, the holder is exercising the legal right to purchase the contracted water. This happens at the specified delivery point.
III. Resale - water credits are held, traded or resold in the market
Water credits are also a financial instrument that can be used to hedge or profit from the water markets by locking in the price of water for the future. Credits can be held and sold at a later date to buyers depending on the supply and demand and regional water market dynamics. WaterLAB facilitates local water pricing so water credits can be traded within specific regions where water producers are located and buyers need an additional supply of water.
