Klima 2.0 TGE: Fair Launch of the Open Climate Protocol

A new foundation for carbon markets

On October 15th, Klima marks the beginning of a new chapter. With the conclusion of the Fair Launch and the deployment of two new tokens, $kVCM and $K2, we are laying the groundwork for Klima 2.0, an open, transparent infrastructure layer for environmental real-world assets.

Carbon markets are projected to grow from $2 billion today to $250 billion by 2050. Yet today’s systems remain fragmented, opaque, and expensive. Every dollar lost to transaction costs is a dollar that does not reach climate impact.

Klima 2.0 is designed to change this. By aligning incentives, removing unnecessary intermediation, and giving stakeholders the tools to coordinate transparently, Klima aims to create a rational, liquid, and trusted market for carbon.

The Fair Launch ensures Klima 2.0 begins on equal footing. There are no VC allocations, no private rounds, and no privileged insiders. 100% of value flows back to the network’s participants.

About Klima 2.0

Over the past several years, tokenization within the carbon markets has advanced significantly, with registries, developers, and technical teams creating pathways for credits to be represented onchain. 

But tokenization ≠ market creation. 

Carbon is a semi-fungible, dynamic commodity. Standard DeFi liquidity pools are poorly suited to pricing and trading such assets, leading to volatility, shallow liquidity, and distorted pricing. Offchain exchanges have struggled with similar issues, with the market often reverting to OTC trades that obscure prices and fragment liquidity.

Klima 2.0 directly addresses these structural challenges.

At the core of Klima 2.0 is the Autonomous Asset Manager (AAM) that acquires, prices, and curates carbon credits. These credits are then made available for retirement; the true measure of climate impact within the market.

Governance is handled through a two-token system:

• $kVCM acts as the medium of exchange for the Protocol as it acquires carbon and facilitates retirements. Holders of $kVCM vote on pricing and the protocol’s acquisition strategy across different carbon classes.

• $K2 represents governance of portfolio risk. Holders influence allocations across carbon classes and strengthen portfolio design.

Together, the AAM and two-token model ensure that pricing emerges internally from supply, demand, and user governance, not external liquidity pools. 

This design reduces volatility, prevents over-homogenization of credits, and creates more accurate, resilient pricing for onchain carbon.

Value Creation in Klima 2.0

Klima 2.0 is built on a simple principle: carbon markets should reward the people and projects that create climate impact and participate in the curation of the market. Klima 2.0’s infrastructure charges no fees to its users. 

In Klima 2.0, all value created flows entirely back to the network’s participants through two channels:

1. Programmatic Incentives

Participants are rewarded for contributing key services to the ecosystem:

• Liquidity providers earn $kVCM and $K2.

• $kVCM holders who guide pricing and acquisition strategy earn $kVCM, $K2, and spot carbon rewards.

• $K2 holders who manage portfolio risk receive $kVCM and $K2 rewards.

2. Portfolio Value

The supply of $kVCM expands and contracts in line with carbon acquisition and retirements. While $kVCM is not a claim on specific credits, it reflects the value of carbon credits within the protocol. As demand grows for the high-integrity credits held by the protocol, the portfolio strengthens, and value accrues back to token holders through the programmatic incentive mechanism.

Fair Launch: Equal Access for All

Klima 2.0 is being distributed entirely through the Fair Launch mechanism, ensuring that every participant has equal access.

Participants in the Fair Launch receive allocations of $kVCM and $K2, based on their staked $KLIMA and accrued points.

Key Details:

• The Fair Launch will be frozen on October 15th. 

• At 00:00 UTC on October 16th, $kVCM will be claimable.

• 77.5% of the initial 20M $kVCM supply will go to Fair Launch participants.

• 10% is reserved for KLIMA holders who missed the launch, claimable via a latecomers migration contract.

• $K2 rewards will begin vesting once the protocol is deployed.

Users can still participate in the Fair Launch up until it freezes on the 15th October at klimaprotocol.com. 

More information about the Fair Launch is available here. 

Further announcements will only be made via x.com/klimadao and in our Discord. Any other source is not official and should be treated as a scam.

Launch Phases

Klima 2.0’s rollout is phased to ensure stability:

1. TGE & Price Discovery

   • $kVCM distributed to Fair Launch participants.

   • Initial liquidity deployed on Aerodrome.

   • A period of 4–6 weeks of price discovery to set a rational starting point for carbon class allocations, which will be defined in $kVCM terms.

     
     

2. Protocol Deployment & Full Launch

   • Initial carbon allocations seeded into the protocol.

   • Users begin participating in governance over pricing, acquisition, and risk.

   • Protocol begins autonomously acquiring, pricing, and facilitating retirements.

   • $K2 rewards begin to vest to participants.

     
     

Liquidity Strategy

At launch, Klima will deploy liquidity pools on Aerodrome, targeting 100% of its 5.2mn veAERO votes to bootstrap:

• $kVCM <> $USDC (concentrated pool) – 80% of votes

• $kVCM <> wETH (volatile pool) – 20% of votes

• $kVCM <> $K2 – seeded but no initial vote allocation

  
  

Liquidity voting strategies will be reviewed weekly and announced prior to epoch flip.

Initial Token Distribution

$kVCM Mint - 20M

At genesis, an initial supply of 20M kVCM tokens will be minted. This is divided among the following cohorts:

Cohort	Proportion	Quantity (M)	Note
Fair Launch Participants	77.5%	15.5	Via Fair Launch claim function
Latecomers migration contract	10%	2	To enable remaining KLIMA conversion to be converted at a reduced rate (see FAQ below)
DAO / Treasury	10%	2	For liquidity & future carbon allocation needs.
01X Consulting FZE (“01X”) -	2.5%	0.5	Per contractual agreement, compensation for model development.

Initial $K2 Mint - 100M

On launch day the full 100M K2 will be minted. From that supply, 7M will be earmarked for deploying the kVCM/K2 LP.

Any remaining K2 will be held in reserve until protocol launch, after which it will follow the emissions schedule described in the whitepaper.

Cohort	Proportion	Quantity (M)	Note
DAO / Treasury	4.5%	4.5	For kVCM/K2 LP, or held in reserve.
01X	2.5%	2.5	24 month lock providing LP in kVCM/K2
Reserve for Protocol Launch	93%	93	Minted and held in reserve for protocol launch. See table below.

Remaining K2 Reserve for Future Emissions

To achieve the final fixed supply of 100M, the protocol will emit incentives following the schedule defined in the whitepaper. This includes the K2 that is claimable by users who accrued points during the fair launch.

Cohort	Proportion	Quantity (M)	Note
Fair Launch Participants	40%	40	Allocated proportionally against accrued points. Claimable over 48 month vesting period
Ecosystem Grant Reserve	5%	5	TBD
Programmatic Incentives	40%	40	Incentive Curve (See whitepaper)
pKlima Holders	3%	3	48 month vesting period
Product Development Fund	5%	5	48 month vesting period

FAQ

Where will I go to claim my kVCM?

app.klimaprotocol.com - we will add a new function for claims.

Why can I only claim kVCM, and not K2?

As described in the whitepaper, K2s has a predefined emission curve that lasts several years, providing incentives to several cohorts of users, in addition to the Fair Launch Participants. For this reason we think it makes sense to start emitting your K2 alongside the rest of the cohorts.

That means when the Fair Launch concludes on October 16th, we will be deploying K2 in a liquidity pool on Aerodrome (kVCM/K2)

Why do we need a phased launch?

The protocol prices carbon in $kVCM terms, through user allocations. It's ability to price carbon assets is therefore derived from the market cap of kVCM. In other words, if the market cap is high, we can launch with more carbon, and if the market cap is small, the carbon capacity is limited.

The Klima Foundation intends to govern the initial carbon prices with its own allocations, alongside key stakeholders who will be supporting us at launch. If we can reduce volatility of the assets by launch date, we can more easily achieve the target prices, which makes it easier for the protocol to sell the carbon credit retirements to end buyers!

What if I miss the Fair Launch completely? What is the latecomers migration contract?

If you aren’t able to stake your KLIMA before October 15th, you can still convert your KLIMA to kVCM at a discounted rate. We are calling this the “latecomers migration contract” and we have earmarked 10%, or 2M, of the initial supply for this.

👉 Participate in the Fair Launch now at klimaprotocol.com.