Carbon Credit Forward Token
Last updated
Last updated
Carbon Credit Forward Tokens are backed by forward agreements which are entered between iP2P Global Ltd. (as dev team of CarbonDEX) and any credible Sellers who already have or have access (due to the nature of their business) to carbon credits, these parties can be carbon credit brokers, issuers or investors.
Under the agreement, in consideration for an upfront payment by iP2P Global (representing CarbonDEX), the Sellers will commit to deliver X amount of carbon credits at a pre-defined price, at or before a pre-defined future delivery date.
The status of the carbon credits in question must be 'Active' (the carbon credit hasn't been retired or deleted from the carbon registries) and classified as 'Guaranteed reductions' which means that the project's carbon emission reduction has been verified and the carbon credits have been issued by the carbon standard bodies and exists in their registries.
The Token name: Carbon Credit Forward Token
The Token symbol: CCRF-[series number/letters].
Since the underlying carbon credits to be delivered are 'active', owners of CCRF can freely trade their CCRF on the CarbonDEX.
User who wants to offset their carbon footprint can purchase CCRF but can only retire it a few days after the predefined delivery date.
Structuring of Carbon Credit Forward Token follows the activities below:
Originate future voluntary carbon credits by entering into forward contract with Carbon credit brokers or issuers at a pre-defined delivery time and prices.
Tokenize the carbon credits into multiple carbon credits forward tokens (1 CCRF token = 1 kgCO2e) once the forward contract has been signed.
Listing of CCRF on CarbonDEX.
Owners of CCRF can only redeem CCRF for carbon offset certificates at or after the pre-defined delivery date.