Base Carbon Tonne

What is the Toucan Carbon Project?

Toucan's system focuses on tokenizing carbon credits, transforming them into TCO2 carbon tokens through the Toucan Carbon Bridge. These tokens are then transferred onto energy-efficient blockchains like Polygon and Celo. The platform introduces innovative features such as carbon pools, enhancing liquidity and facilitating transactions in environmental markets.

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Recent Video Interview

Main points of the interview:

• Rafa Hupt, founder of Toucan Protocol, discussed bringing carbon markets to public blockchains.
• Toucan's first carbon reference token launched in October 2022, tokenizing 150,000 carbon credits initially.
• Toucan aims to scale climate finance using web3's coordination tools to address climate change.
• Web3 enables innovative uses for carbon credits, such as using them as collateral assets for currencies.

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The Toucan Carbon Bridge

Carbon credits, initially intangible assets, find a bridge between standard digital registries and Toucan's on-chain registry. The Toucan Protocol utilizes smart contracts on the Celo and Polygon blockchains, allowing seamless transfer and tokenization of carbon credits. Key advantages of this bridge include compatibility with Carbon Pools, standardization across certification bodies, enhanced transparency, programmability, fractionalization, and composability within the emerging DeFi ecosystem.

The bridging process ensures secure transfer of carbon credits between registry systems. Toucan's procedure, developed in collaboration with standards bodies, involves automated checks and messages to tokenize, detokenize, and retire assets on-chain.

Carbon Pools address the liquidity challenges of carbon credits by bundling similar credits together. This standardization, absent in traditional credits, enhances market efficiency and liquidity. The platform aims to expand support for more public blockchains in the future.

What Does Toucan Solve?

The Problem: Carbon credits suffer from low liquidity due to differentiation across projects and characteristics. This poses challenges for both project developers and buyers, leading to over-the-counter transactions and a lack of transparent pricing data.

The Solution: Tokenized TCO2s, even after bridging, retain project- and vintage-specific attributes. Carbon Pools introduce standardization, bundling TCO2s with similar characteristics to promote deep market liquidity. The Toucan app facilitates the retirement of TCO2 tokens, permanently removing them from circulation. This can be done manually or programmatically, ensuring environmental responsibility.

CHAR by Toucan

CHAR is an infrastructure for automated, on-demand trading of biochar carbon credits. It aggregates pre-screened credits from Puro.earth on one platform, facilitating the buying and selling of biochar credits. CHAR streamlines access to capital, supporting projects in the biochar market to fund their operations.

Base Carbon Tonnes (BCT)

BCT is a reference token representing one tonne of carbon from the Verra Verified Carbon Unit (VCU) registry. The Toucan Bridge is the first to allow users to bridge their VCUs into crypto, contributing to an open regenerative finance ecosystem. As a fungible ERC 20 token, BCT can be seamlessly integrated into any DeFi application, providing a foundational building block for regenerative finance.

Team Background and Partners

The Toucan Carbon Project is propelled by a global, remote team of technologists, carbon market experts, and marketers dedicated to advancing the voluntary carbon market. Led by CEO and Founder Raphaël Haupt, the team envisions a future where climate finance flows efficiently to its intended destinations. Anna Morrogh, as COO, ensures smooth operational functions, while Rafaela Khodai, Head of Marketing, spearheads strategic communication. Kevin Leuthardt manages financial aspects as CFO, and Michalis Kargakis, Senior Solidity Developer, navigates blockchain intricacies. Co-Founder and CTO Adam Spiers shapes the project's technical landscape.

Toucan's investors: Shine Capital, USV, IDEO, Hypershpere, Obcious, and MCJ Collective.

Project Development

In a significant stride towards revolutionizing the carbon credit space, Toucan introduces the Toucan–Puro Bridge V1, a cutting-edge software facilitating the tokenization, detokenization, and retirement of CO2 Removal Certificates (CORCs) from the Puro Earth Registry. Tokenization involves the secure digitization of carbon credit information, creating an immutable ownership trail enhanced with real-time updates.

Developed collaboratively with Puro.earth's technical teams, this innovative two-way bridge seamlessly integrates the Puro Connect API with Toucan's Registry, enabling users to effortlessly move their CORCs between the Puro registry and various blockchain accounts on Polygon or Celo networks. With safety measures like preventing double issuance, KYC/AML compliance, and vigilant verification processes, Toucan ensures a secure and compliant user experience, providing an efficient solution to bottlenecks in the carbon finance ecosystem. This update reflects Toucan's commitment to enhancing transparency and flexibility in the voluntary carbon market, contributing to a sustainable future.

Base Carbon Tonne Price Analysis

As of November 24 2024 Base Carbon Tonne has a marketcap of $10M. This is {{percentagefromath}} from its all time high of $8.60. In terms of its tokenomics, there's a total supply of 18M with 100% currently outstanding. Keep in mind Base Carbon Tonne has a fully diluted value of $10M which many investors might interpret as overvalued.

Of course, don’t trust price predictions alone, always check the Coinrotator token screener to follow the trending market.