Initialize
Create an empty Batch NFT on Polygon, which will represent a tokenized batch of carbon offsets retired in the source registry.
”Attention: Verra Registry currently does not support the tokenization of carbon credits and this will not be available on the Toucan UI. Verra Registry is currently identifying the safest way forward regarding carbon credit tokenization. Read our official response to the Verra announcement.”
The bridging process starts on our dApp with the minting of a non-fungible token: a
BatchNFT. The BatchNFT is in an initialized state and doesn't have any offset-specific metadata yet. But it has a unique identifier, which is our input for step 2 of the process.You will need a batch NFT for each project and vintage of carbon offsets you want to retire in the source registry. This might mean you need to initialize multiple batches, and provide multiple Toucan IDs in the Retirement Details of different batch retirements.
- 1.Click on "New Retirement".
- 2.Select which registry you're bridging from — at launch, only Verra is supported.
- 3.Select whether you have access to the registry, or if a partner will be retiring the offsets on your behalf.
- 4.Click "Initialize". Metamask will load a pop-up: review and if everything looks good, click "Submit" to sign and broadcast the message to the Polygon network.
- 5.Within a few seconds, the transaction should be validated. A new page will load with detailed instructions on the next step.
It is very important that you read these instructions carefully! They explain how to retire the batch of offsets you want to bridge in the Verra registry.
The interface will include a few pieces of information that you MUST carefully and correctly copy and include when you or your partner retires the batch on Verra.
Mistakes here will result in an irrevocable loss of funds!
Here is an example of the box showing retirement details on the Toucan Carbon Bridge interface. This appears after the transaction initializing a batch has been validated on Polygon:
Last modified 2mo ago