Protocol Fees
Toucan Protocol takes fees for redeeming carbon pool tokens. It also supports fees for bridging but currently the parameters are set to zero.
For redeeming carbon pool tokens - like BCT and NCT, Toucan takes a fee, out of which a percentage is used to burn low-value carbon credits and increase the overall value of the pool. The other part will go to Toucan to work on building out the protocol.
The main difference when redeeming TOC2 is here is:
- auto redeem (which will burn the lowest ranked TCO2s)
- selectively redeem (which will burn the TCO2s you specify and costs a fee)
Side note: ranking of TCO2s is done manually by us, and is based on criteria: like year and the prevention of including HFC-23 credits
Carbon Pool Token | Redemption Fee | % to be burned | % burned of original amount |
|---|---|---|---|
BCT | 25% | 80% | 20% |
NCT | 10% | 50% | 5% |
These reflect our current fees. Our contracts include the option to update fees as you can see below in Updating Fees. All current fees can also be found by checking out contracts, in this case specifically the carbon pool token contract.
The protocol supports fees for bridging but currently the parameters are set to zero. The parameters work in a very similar way to the pool redemption fees described above. You can find all currently deployed contracts here.
All of these fees can be updated by the contract owner. You can find all currently deployed contracts here.
Setting the general fee to redeem tokens.
setFeeRedeemPercentage(uint256 _feeRedeemPercentageInBase)
Setting the percentage of the redemption fee to be burned.
setFeeRedeemBurnPercentage(uint256 _feeRedeemBurnPercentageInBase)
- Also see the deployed [contract] on Celoscan(https://celoscan.io/address/0x6e2c8cDaE11c6A470E5993041DBC0F4472e3880E#readProxyContract)
function setBridgeFeePercentage(uint256 _bridgeFeePercentageInBase)
external
virtual
onlyOwner
Last modified 2d ago