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The Race for the Two-Way Carbon Bridge | Web3Carbon Week #36
Regen launched its marketplace, KlimaDAO/Toucan celebrate the first anniversary, Thallo wants to join the race for the first two-way carbon bridge + 7 new projects.
Regen Marketplace Launched
So far, the marketplace offers access to four carbon removal projects for purchase and retirement. All of them are located in the United States and comply with the Urban Forest Carbon Credit Class, registered with the City Forest Registry
To use the Regen marketplace, users need the Keplr Wallet for the Cosmos ecosystem. The credits are paid in $USDC (USD stablecoin). To pay for the platform fees, you’ll also need $REGEN (the regen.network’s native currency). All the details can be found in the Buyer’s Guide to Regen Marketplace.
Contrary to earlier announcements, credits are not only available for direct on-chain retirement, but are also as tradable assets.
Trading and retiring activity can be followed on-chain or on the website. So far, 4’400 credits have been retired.
🎉1 Year KlimaDAO/Toucan Protocol anniversary
It’s been one year since 🍧 KlimaDAO has launched on October 18th, 2021. Together with 🐣 Toucan’s BCT, KlimaDAO kicked off the web3carbon category to a broader audience. Over 18M tons of CO2 have been brought on-chain. Plenty of ups but also many set-backs (fast price drops, zombie credits, tensions between the pioneers etc.). The most important impact was probably that KlimaDAO’s success inspired and ignited a wave of new web3carbon projects that started to bloom (by now I track over 100 on kuoka.earth).
KlimaDAO celebrates the occasion by looking back at all the positive achievements in in a blogpost: KlimaDAO celebrated its first anniversary .
Also Toucan looks back:
Transparency in On-Chain Carbon
It has released this helpful video that shows a step-by-step guide on how you can select carbon credits from a specific project and retire them with KlimaDAO.
The 🍞 State of the Tokenized Carbon Market Dashboard gives users an immediate insight into the state of the on-chain carbon market. It includes information on the type and amount of carbon credits available, the pool prices of carbon credits, and other key market data.
Thallo Wants to Win the Race for the First Two-Way Carbon Bridge
Two-way carbon bridges have been announced for many months now by 🚰 Flowcarbon and 🌉 C3, but have not yet been launched. This week, the carbon credit exchange 👩💻 Thallo joined the race by also announcing to launch a Two-Way Carbon Bridge. Two-way carbon bridges enable holders of on-chain credits to bring the credits back off-chain. This will help to prevent large price arbitrages between these two markets.
Thallo has a shot of launching sooner than other projects because it will be bridging carbon credits from a smaller registry called BioCarbon instead of waiting for Verra and Goldstandard to finish their tokenization consultations. BioCarbon registry announced to be ready to bridge some of the 33 million credits that have been issued since it was founded in 2019. Thallo’s CEO Ryan Gled emphasized that Thallo is also applying a new approach to liquidity he labeled ‘Dynamic Pooling’ which he referred to as a buyer-led filtering process. without giving more detail on this topic yet.
Web3Carbon Project Updates
🌲 Open Forest Protocol (MRV for Forestation) announced to partner with the carbon bridge Flowcarbon to create an interoperable open MRV.
🍏 Bitgreen (Sustainable Blockchain) has secured a parachain slot #29 on the Polkadot network: The slot was self-funded.
📩 Sequester’s joint proposal with 🍏 Bitgreen “Greening the Polkadot Network” was passed by the Polkadot Treasury. The project will receive 32’560 DOT which currently equals around $200'000 (as specified in the proposal).
☑️ Verra held a public webinar on the consultation about the proposed approach to third-party crypto instruments and tokens. The webinar addressed how Verra should be handling fraud, regulatory uncertainty, legal uncertainty, KYC requirements, and double counting. The Webinar Recording is now available
Thallo announced to stake its grant money with 🍥 Spirals Protocol (Climate Impact Staking). This will passively fund high-quality climate projects: Spirals allows projects to liquid stake their funds and use the proceedings to fund high-quality environmental projects behind the scenes - similar to a green savings account.
🍬 ClimateCandy (Casual Game with Offsetting) launched its pre-alpha also on iOS ClimateCandy pre-alpha is online on Android and on iOS
Sophie Hartley at 🐣 Toucan wrote an interesting piece about 5 ways web3 can accelerate climate action. Spoiler: those five are 1) Supporting global solutions through local action, 2) Making climate action accessible for more people, 3) Improving access to climate data, 4) Redefining value, 5) Improving coordination and consensus building.
A recording of the Panel “The Role of Web3 in Enabling Climate Action” at TOKEN2049 Singapore was released. The panelists include Marc Johnson (Filecoin Green), Alex.klima (🍧 KlimaDAO), BreeAnne Yek (🔒 Carb0n.fi ) Max Song (Carbonbase).
Evîn Cheikosman of the 🗻 WEF Crypto Sustainability Coalition released an article about How Web3 could help tackle climate change using regenerative finance - or 'ReFi'.
🌎 Solid.World DAO's Stenver Jerkku's presented an overview of the carbon market challenges at Devcon in Bogota. He made the case on how important it will be for the growth of carbon removal projects to be able to pre-finance their projects.
Newly Added Projects to the Kuoka Directory:
🦏 Porini Foundation (Charity to support zero-carbon blockchains),
⛺ Draft Ventures (Seed Venture Fund)