The Carbon Token

Context

When the bridge tokenizes an offset, it analyzes the data embedded within and implants it into a blockchain token.

Trackable & Traceable: (MRV Data etc.)

When a Project Developer bridges their project onto our platform, we create a token for each individual asset. To do so, our platform reads the registry-approved serial number of every carbon offset that comes through it.

Instead of fractionalizing the Verra Serial Number, which would create multiple expensive and slow registry transactions, we generate our own serial numbers for each offset. We store key components of the MRV data and create a unique tracking ID to ensure that everything correlates to off-chain data. These new serial numbers are backed up to the on-chain serial code.

With custom serial codes, our users can track and trace the price action, trade history, and project information at any moment. Most importantly, this all happens on the CarbonLink platform in a concise and user-friendly dashboard.

Token Types:

A variety of token types comprise blockchain networks. Below are examples relevant to the CarbonLink platform.

• A fungible token, or an ERC-20, means that any of them can be exchanged for any other of the same token type with no difference. Most currencies that we know of are fungible. For example, if you traded a $1 bill for somebody else’s $1 bill, you lose no value, because you are still left with one dollar. The carbon-backed cryptocurrencies on the CarbonLink Exchange use this token composition because it promotes liquidity and accessibility.

• The now-popularized term “non-fungible tokens”, or NFTs, is represented by an ERC-721 token. Each one represents ownership over a different unique digital asset. In the same way, I can’t recreate or commission an original Jackson Pollock painting, I also couldn't recreate or commission an ERC-721. It’s a non-fungible asset because it cannot be duplicated.

• An ERC-1155 token is a hybrid of the first two. Each individual token has unique traits attached to it for identification purposes but can be grouped together in a fungible manner. This allows tokenized offsets to be verified as the unique asset that they are but simultaneously allows buyers and sellers to create quality standards and purchase large groups of similar credits to meet offset requirements. The assets supported on the CarbonLink Marketplace use this token composition to maintain each offset’s additional certifications.