Deposit + Receive

To deposit a tokenized carbon credit into a carbon pool, the credits need to have been successfully bridged and fractionalized into TCO2 tokens. The user can then submit a transaction to deposit a TCO2 token into a pool.
To be deposited, a TCO2 token must successfully pass the pool's filter. This ensures that only eligible TCO2 tokens are held in the pool. If the TCO2 passes this gating test, the token gets locked inside the pool, and a carbon reference token (i.e. an NCT token) is created and sent to the depositor's wallet.
A carbon reference token is a token unique to Toucan's carbon pools module. A carbon pool is a smart contract, which you can think of as a special type of account. When a TCO2 token is deposited into a pool account, a carbon reference token is created and sent back to the user. Different carbon pools accept TCO2 tokens with different gating attributes, and have different carbon reference tokens associated with them — like NCT and BCT. Every carbon reference token is backed exactly 1 TCO2 in the pool account. Users can redeem their carbon reference token for a TCO2 token held in the pool, retrieving it to retire and offset emissions.
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.
​Signed in, head to Pools. You should see the TCO2 tokens available to send to a pool — click "Send to pool" to deposit. You will automatically receive the pool tokens (i.e. NCT) in the same transaction.