At any point, the holder of a carbon reference token can use it to redeem an underlying project-specific TCO2 tokens.
This means any TCO2 held in the pool can be retrieved. TCO2 tokens represent specific carbon credits — users can select the credits they want to retire to meet their offsetting goals and retrieve them from the pool.
Only TCO2 tokens can be retired. Carbon reference tokens don't have that option — they can only be redeemed for an underlying TCO2.
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