Home CryptoDeFi Toucan Protocol is Live on Celo!

Toucan Protocol is Live on Celo!

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After months of hard work by the team at cLabs, abacus, curve lab, Bld.Aiand the climate collective, Toucan protocol is live on Celo! With this deployment, users will be able to access and retain high-quality, nature-based carbon offsets, use them throughout Web3, and “retire” to claim underlying carbon credits towards their GHG reduction targets. You will be able to

Image courtesy of Toucan.

Toucan ecosystem

Toucan fosters an ecosystem of projects that incorporate tokenized carbon, unlocking a range of use cases for climate action, including increasing the utility of carbon, enhancing climate mitigation, and generating impacts in the field. . Toucan connects projects in the Celo ecosystem working on ReFi through NCT tokenized carbon credits based on programmable carbon, primarily nature-based solutions.For example, connect protocol Mugla When ube swap Through Ubeswap’s mcUSD and NCT liquidity pools.

Toucan supports builders and protocols that take proactive climate action, including: spiral protocolwhich enables the accumulation of carbon credits. Return procedure, which incorporates automatic offsetting of on-chain activity.When Senkens Carbon Markets provides a seamless experience for buyers looking for specific carbon projects that offset their emissions.

These use cases support the larger goal of the Toucan and Cerro communities to promote carbon neutrality in their daily lives. based on cellofly wallet Another example is a travel booking platform that allows users to pay in cUSD and offset their carbon footprint in the same transaction.

Image courtesy of FlyWallet.

Substitutability, Fluidity, Specificity

While fungible carbon tokens unlock compelling use cases, fungibility comes at a price, as consumers will no longer be able to tie a tonne of carbon to a specific carbon project or geography. Given the importance of specificity to many offset purchasers, Toucan has several structured projects that retain the unique characteristics of individual carbon projects before being split into several fungible NCTs. support the market.

But fungibility is key to increasing liquidity in historically fragmented voluntary carbon markets (VCMs) and allowing a wide range of users to participate in price discovery of different classes of carbon assets. of the Celo community #ReFiSummer This campaign brings deep and diversified liquidity to the on-chain carbon market across multiple exchanges including: Uniswap, ube swapWhen symmetry.

Built on Toucan

Using Toucan’s infrastructure, Web3 builders now have access to programmable carbon It can be integrated into a wide range of applications.both Toucan Grant Program and the Climate Co-Grant Program Available to support builders of projects that use programmable carbon to improve the health of the planet.

The future of ReFi

Toucan’s efforts to build an on-chain “carbon stack” and provide open source tools for builders to join the ReFi movement align with the Celo community’s mission to build a carbon negative and renewable economic system. I’m here.

In 2017, the concept of currency backed by natural capital Celo whitepaper As a fundamental and critical Celo platform design choice. The Celo community looks forward to working with Toucan, the Climate Collective, and their partners to foster new green use cases around the world.

For more information on Toucan, visit the team at technical documentationFor mission-aligned projects built in collaboration with many members and partners of Toucan and the Climate Collective, please visit: climate collective.

Toucan Protocol Live on Celo! was originally published on Medium at The Celo Blog, where people continue the conversation by highlighting and replying to the story.

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