Tokenization

How to tokenize CORCs from the Puro Registry into TCO2s.

At a high level, the tokenization of carbon removal credits, or CORCs, via our Puro carbon bridge involves a few steps:

1. Request Tokenization: Provide details such as the serial numbers of the credits you want to bridge, the project name, and the destination address to Toucan. Further instructions on this are below.

2. CORCs are Locked: Upon tokenization, credits will be immobilized in an omnibus account within the Puro Registry for as long as the tokenized version exists.

3. Toucan Mints a Batch NFT: Toucan mints an NFT onchain that contains details about the tokenization event.

4. Deliver TCO2 Tokens: Toucan will fractionalize the Batch NFT into TCO2 tokens, each representing one CORC that has been tokenized. The TCO2 tokens will be delivered to the wallet address provided.

Instructions to Tokenize

Step 1: Onboard to Toucan's Bridge

If you've already done this, skip to step 2 below.

1. Go to the Puro bridge onboarding and tokenization form and select the onboarding option.
2. Fill in the necessary details, which will include information about your organization and a prompt to accept the bridge’s Terms and Conditions.

Step 2: On-Ramp Assets to Toucan's Sales Channel in Puro Registry

The process of on-ramping transfers your Puro CORCs into Toucan's Sales Channel within the Puro Registry. Your assets must be in our Sales Channel to proceed with tokenization.

Also, each bridge user must be onboarded as a recognized “Trader” within the Sales Channel. The first time you use our bridge, follow step 2a so that Puro sets this up for you.

2a. For first time users (Puro account holders who have not yet on-ramped any assets to Toucan’s Sales Channel)

Send the following email to Puro. If you have any questions preparing this email, contact [e-mail].

To: [e-mail]

CC: [e-mail]

Subject: On-ramp assets to Toucan’s Sales Channel and initiate request to set up Trader account

Body: Please on-ramp the following assets to Toucan’s Sales Channel and, in the process, initiate a request to set up our organization’s Trader account within the Toucan Sales Channel that Toucan can then approve.

Credit owner details

• Organization name:

• Address:

• Business ID:

Sales Channel details

• Name of the organization: Toucan Protocol Association

• Business ID: CHE-381.295.616

Other details

• Account number credits will be transferred from

• Credit ID numbers

• Amount of credits

• Set automatic transaction approval on

2b. For returning users (Puro account holders who have already on-ramped assets to Toucan’s Sales Channel)

Send the following email to Puro. If you have any questions preparing this email, contact [e-mail].

To: [e-mail]

CC: [e-mail]

Subject: On-ramp assets to Toucan’s Sales Channel

Body: Please on-ramp the following assets to Toucan’s Sales Channel:

Credit owner details

• Organization name:

• Address:

• Business ID:

Sales Channel details

• Name of the organization: Toucan Protocol Association

• Business ID: CHE-381.295.616

Other details

• Account number credits will be transferred from

• Credit ID numbers

• Amount of credits

• Set automatic transaction approval on

Step 3: Submit Tokenization Request

Toucan will initiate the tokenization of CORCs once your assets have been on-ramped to the Toucan Sales Channel and upon your completion of the Puro bridge onboarding and tokenization form (select the tokenization option).

Once your request is processed, the offchain CORCs will be batch-minted as an ERC-721 NFT. This NFT will then be fractionalized into ERC-20 TCO2 tokens and deposited into the onchain wallet you specified in the request form.