Climate Commitment

PUNE April 22 2021 —

April 22, an international holiday to honor the need to protect the environmentTeam UmbrellaX today announced an ambitious goal of becoming carbon negative within 3 Years.

VIOTX UmbrellaX commits to offsetting more carbon than is generated by all activities across the organization through a multi-phased approach.

Starting immediately, the first phase will focus on an assessment of the carbon generated through cryptocurrency trading, deposit and withdrawal activities across all of VIOTX BlockChain’s platforms (App, Exchange, NFT, DeFi, and Chain). The second phase will identify the most effective ways to offset the carbon generated, with the support of accredited organizations specializing in carbon offsetting and sequestration.

The third phase will focus on the carbon generated through all of the business activities conducted by VIOTX BlockChain which fall outside of trading (eg: marketing activities, work-place services, business travel, etc). Once the assessment is complete, these figures will be incorporated into VIOTX BlockChain’s carbon offsetting and sequestration program which will offset more carbon than is generated.

A third-party auditor will be retained to offer accountability to VIOTX BlockChain’s customers and the broader public. All three phases will be completed within 36 months.

The climate crisis is the most pressing issue of our time. Committing to becoming a carbon negative company is just the beginning of our efforts. As we further invest in building out the Go Green Initiative. Ecosystem we will offer the industry a path towards clean crypto.

NIKHIL RINDHE, Founder and CEO of UmbrellaX-Web3.0 Focusing and Promoting towards Clean Energy Utilization

Committing to becoming carbon negative is the latest step UmbrellaX-Web3.0 has taken on the path towards addressing the climate crisis. In March 2021, after more than two years of research and development, the VIOTX BlockChain was released to the public.

A fully decentralized blockchain working Proof of Stake Mechanism the Staking of Chain is built on the Proof of Stake (PoS) model, which is >90% more energy efficient than Proof of Work (PoW) blockchains. The first two use cases to be released in Q1 2022 include emission-free NFT Minting an Setup, and support for migration of Ethereum (PoW) based protocols