Carbcoin is the first Web 3-based carbon ecosystem specializing in regenerative finance (ReFi) and allocation of blockchain-based carbon credits.
4IRE collaborated with Carbcoin to create a blockchain-based marketplace and ecosystem for the exchange of carbon credits and new project generation in the ReFi sector. The company planned to resolve the challenges of slow legacy carbon credit markets, high carbon credit trading fees, and high entry barriers for SMEs and startups.
The solutions on which 4IRE worked include:
- Polygon-based carbon credit marketplace
We created a functional and robust marketplace for the exchange of verified carbon credits for all participants joining the Carbcoin ecosystem. It operates on Polygon, guaranteeing unrivaled scalability, speedy performance, full compatibility with Ethereum-based projects, and low transaction fees.
- Carbcoin Token and Carbon Token minting
The 4IRE team developed two types of tokens for the Carbcoin ecosystem. The Carbcoin token is the system’s governing token, used to cover on-chain fees and purchase carbon credits. The Carbon tokens of offset project developers were minted to serve as an analog for 1 ton of CO2 carbon credit.
- Carbon credit sale mechanism
4IRE engineers worked on two mechanisms of carbon credit sale on the platform: auction sale and direct sale. The direct sale option was implemented via a Carbcoin DEX, and auction sale features were created from scratch.
- Creation of DEX
We also developed the ecosystem’s additional features to let it deliver upon its promise of a decentralized and transparent carbon credit marketplace. These included a blockchain explorer giving users access to transaction and user records, a bridge linking Carbcoin with other blockchains and off-chain data, and a DEX enabling all carbon credit transactions.
Carbcoin currently offers a blockchain-powered carbon credit marketplace where users can offset their environmental impact by acquiring verified carbon credits.
- Users of the ecosystem sell and purchase Carbon Tokens at the Carbon DEX.
- The CarbonChain Hub is an incubator of ReFi projects based on the Carbcoin blockchain.
- CarbonChain Explorer is a convenient search engine guaranteeing transaction transparency and partner validation.
The Carbcoin ecosystem is an innovative place for exchanging carbon credits, promising a better future for the carbon credit market. It offers lower fees and enables quick access to verified credits, giving manufacturers a range of possibilities for offsetting their footprint and protecting the environment and local communities.