As an individual user, you need Metamask (a crypto wallet browser extension) installed and initialized in your browser to interact with CarbonBridge for token trading or retiring.
As a carbon provider with valid VERRA account, you have access to the key two-way bridging functions --- tokenizing and redeeming VCU, which also require connected Metamask wallet in your browser.
Nope.
Metamask wallet address (connected) is the ONLY identity required.
When you launch app, Please find the “Connect” button on up-right corner of CarbonBridge dApp site and follow the instructions.
If you already have a VCU account, you would also need a wallet on chain(Metamask wallet in your browser) to start.
If you don’t have VCU account, you can access to all on-chain services provided by CarbonBridge by swap your other tokens to PCCT or NBCT to access carbon market. Following the link below:
You won’t be able to redeem a PCCT or NBCT to a VCU given you don’t have a VCU account to hold the asset on off-chain world.
In brief, you propose to bridge VCUs of specific projects/vintage/quantity, and transfer VCUs to CarbonBridge VERRA account accordingly. Upon acceptance of VCUs, CarbonBridge will mint tokens and send to your crypto wallet.
The whole process is transactional and safe. Given any error occurs, all steps will roll back.
Given your crypto wallet with PCCT/NBCT assets is connected, you simply select token type and quantity to redeem to the VERRA account you provide. CarbonBridge will burn the tokens (“burn”means “to remove the tokens on the chain and it cannot be restored”), and transfer corresponding VCUs to you on VERRA.
The whole process is transactional and safe. Given any error occurs, all steps will roll back.
CarbonBridge will deal with two kinds of assets which are carbon credits and tokens.
CarbonBridge will open and held a VCU account on Verra registry to receive VCUs. This account is a custodian account that will be checked and audited by a third party auditor periodically.
After VCUs are minted to token, tokens are saved into individual wallet on chain immediately. Safety of your tokens will be taken care by the operator of the wallet following the norm of on-chain operations.
PCCT stands for Principal Core Carbon Token, 1 PCCT equals to 1 metric ton of carbon credit issued by globally recognized programs. At launch, Carbon Bridge supports VCU issued by Verra not earlier than January 1st 2016 only. In the future, it may extend to other programs or registries according to carbon market development and upon voting by the governance committee of the Bridge.
NBCT stands for Nature-based Carbon Token, 1 NBCT equals to 1 metric ton of carbon credit issued by globally recognized programs using nature-based methodologies such as reforestation and avoid deforestation. At launch, Carbon Bridge supports VCU issued by Verra that falls under Agriculture, Forestry, and Other Land Use (AFOLU) not earlier than January 1st 2016 only; in addition, to keep the highest standard of the market and environment integrity, the eligible VCU to be minted to NBCT will also have to satisfy Climate, Community, and Biodiversity (CCB) accreditation.
In the future, it may extend to other programs or registries according to carbon market development and upon voting by the Bridge Governance Committee.
Have your carbon asset (carbon credit) tokenized opens the door of crypto world to you. Our mission is to bridge the carbon world and crypto world so that we can achieve our goals collectively. At launch, below functions are active for:
-trade carbon credits directly on chain, access new buying power from the crypto world;
-expose your carbon credit for companies who chose to offset their carbon footprint on chain which can be tracible and more transparent than off-chain world;
-for those have no access to the off-chain carbon market, Carbon Bridge provides a reliable and easy access to this fast-growing market;
-whenever is necessary or market provides arbitrage opportunity, Carbon Bridge supports redeem a token back to a VCU in off-chain world to seize the opportunity;
In the future, we see theoretically unlimited user cases when fully linked to and interacted with the innovative Web3 world. On this exciting and kept evolving list, we can see below are coming on the way:
-Token holders can stake in certain DAOs who accept PCCT and NBCT, such as DaDao to earn yield;
-Token holders can bond their tokens to earn yield;
-Token holders can mint NFT to highlight the specialty of their unique carbon credits;
Simply holding a token on chain is already helping to send out a signal to the market that climate change is cared and pressures needed to deal with it.
When one can retire a carbon credit or persuade his/her organization to retire carbon credits for any reason, from to reduce one’s environmental impact of flying or even just to send out a present to celebrate a kid’s birthday, every ton of carbon credit being retired on chain will be cancelled in off-chain world too. It represents the piece of effort of yours to combat our biggest issue facing the man-kind today.