Deposit + Receive
To deposit a tokenized carbon credit into a carbon pool, the credits need to have been successfully bridged and fractionalized into
TCO2tokens. The user can then submit a transaction to
deposita TCO2 token into a pool.
To be deposited, a
TCO2token must successfully pass the pool's filter. This ensures that only eligible
TCO2tokens are held in the pool. If the
TCO2passes this gating test, the token gets locked inside the pool, and a carbon reference token (i.e. an
NCTtoken) is created and sent to the depositor's wallet.
For those familiar with Ethereum smart contracts, carbon reference tokens are fungible ERC20 tokens.
The benefit here is that we can group together similar TCO2 tokens. Grouping these based on project attributes creates deeper liquidity, which is needed to form liquid markets and clear, transparent pricing. Carbon reference tokens are a much simpler asset for users to buy, and a more useful building block for other DeFi projects to work with.
In order to deposit TCO2 tokens in a Carbon Pool and receive an equivalent number of carbon reference tokens, first you must ensure that the TCO2 tokens you have possess the required gating attributes.