Why would people bridge over carbon into web3 and what is the traditional price of carbon?
The carbon markets are highly opaque, and carbon projects often go through multiple layers of intermediaries to sell their credits. While these intermediaries can play a useful role in the market, the also capture much of the value flowing through the carbon market. Deals are often done in private with no reporting requirements, so there is very limited price transparency in the carbon markets.
Toucan uses Web3 infrastructure to create the first liquid and transparent market for voluntary carbon offsets. By creating a liquid trading pair on Sushiswap, holders of carbon offsets have access to a liquid market they can sell into or buy from, which they previously did not have. Carbon projects can also sell their credits on Web3 rails, either directly or into the DEX.
Web3 also offers immediate global 24/7 settlement. Beyond this, we are finding a wide range of new uses for carbon in the decentralized finance ecosystem β€” to leverage it as collateral or earn yield.
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