From a batch NFT to ERC20 carbon tokens.
”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 is completed when a Toucan Verifier approves the batch NFT — that means the batch has been successfully tokenized! This NFT is an ERC721 token, which means it is compatible with a range of other NFT protocols on Polygon. We're excited to see what people build with these NFTs.
However, there's another step required to move towards the Toucan vision of programmable carbon.
In the last step of the bridging process, the BatchNFT can be used to mint an equivalent number of fully fungible ERC20 tokens which we call TCO2 tokens. The "T" here stands for "Toucan" - or "tonne" — or "tokenized" — and 1 TCO2 token represents 1 carbon credit with a value of 1 tCO2e. So, an NFT representing a batch of 100 credits can be fractionalized into 100 TCO2 tokens.
To fractionalize your approved batch NFT, make sure you're signed in:
  1. 1.
    Once your batch is Verified, click "Finalize". (This will be available via that "Take action" button on the right of the batch row in the claims interface as well.)
  2. 2.
    Approve the transaction. When it's validated, you'll have TCO2 tokens in your account!