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How to retire carbon credits
When a business or individual chooses to compensate their emissions with carbon credits, the credits must be permanently removed from circulation. The process of retiring – and irrevocably removing from circulation – tokenized carbon credits can be done through the Toucan app.
Pool token available
- 3.Click ‘Redeem TCO2’ to exchange the pool token in return for TCO2 tokens. Input the number you want to redeem on the right. You will have the option to automatically reddem in which case, you will receive the lowest ranking TCO2s. In case you want to choose by year or location, you will have to pay a redemption fee.
- 4.Choose the TCO2 you would like to receive.
- 5.Click "Redeem Now" and approve the transaction in the wallet. Make sure you have enough native tokens (e.g. CELO, Matic) to pay for GasFees.
- 6.Once you have received the TCO2 tokens they will appear in the ‘Toucan CO2 Tokens’ (TCO2) section of the dashboard.
Find your TCO2
- 7.Click ‘Offset’, select how many you would like to offset, then click "Retire to Offset".