{"signature": "0x5b442a7638e21139f371f613a2269877741b1a0a90a6cc7da1ec7d59d182feb43fdf1a3c8c77cbc849a7d89ee1284ba7c486bd3f78dbff5c93e76c0917377e831b", "application": {"round": "0xadd9b8cc34d9f36fa37cb9c6941e6209f4eea6c6", "answers": [{"type": "email", "hidden": true, "question": "Email Address", "questionId": 0, "encryptedAnswer": {"ciphertext": "lF2q2bhPZRxPFebS6BOgSKOlhMCzyeeVV21ioWFOCb894TqBx7HBnE2Y8mb0d72J", "encryptedSymmetricKey": "8d61cccf62cfc6056b17155d9e280e86ed127f07ff940b25a174a7e90f84ccc8a044f0b8c38d33778f432785b321ad0c982f414a180da83cf069ff839a7a6e2d66d212ce2f4cd58142e1d676fa3f7ead89cc000efc593339b1751d8e4b544190cf4864e77f84df86b93bd4c0aca066d8dc18fde45d69dcad966e8595cecd0edf00000000000000206d73b49e248bcdf1faec973e449144d254e861419f31e02d071c2329262ab06f78eca027747278a068303f933bf97085"}}, {"type": "short-answer", "answer": "c_georgen", "hidden": true, "question": "Telegram handle", "questionId": 1}, {"type": "link", "answer": "https://gap.karmahq.xyz/project/change-code", "hidden": false, "question": "Karma profile (if available)", "questionId": 2}, {"type": "checkbox", "answer": ["Yes, I confirm"], "hidden": true, "question": "Have you read and confirmed that your project abides by the Program General Eligibility Policy https://tecommons.notion.site/Eligibility-Policy-7cf5ff8c323149cf84011712f070f009 ?", "questionId": 3}, {"type": "paragraph", "answer": "At Change Code we believe that to achieve the world's sustainability and other impact goals, we must find a way to make purpose profitable. We are pioneering new ReFi/DeFi primitives to support the tokenization and monetization of positive impact and public goods.\n\nThe tokenized good captured in our Change Credits will eventually be used as a basis to create a new class of value-based currencies where communities can demonstrate their values and fund what matters to them simply by transacting in one of these unique currencies.\n\nWe believe that our tokenization and funding protocol can make the Superchain the de facto home for builders looking to have a positive impact in the world. We've already onboarded more than $600,000 in economic externalities to our protocol with the first few projects we've engaged. We plan on onboarding at least 20 more good generating organizations before the end of the year.", "hidden": false, "question": "Vision Statement and Impact: Describe the long-term vision of your project and its intended impact on the Optimism and broader Superchain ecosystem, including both qualitative and quantitative benefits", "questionId": 4}, {"type": "paragraph", "answer": "Over the next 3-6 months, we'll be completing the migration of our protocol to the OP ecosystem. Carbon assets will go live on Celo's own Superchain L2 as soon as they complete their own migration to the OP Stack.\n\nAs we continue our technical migration, we will also be working to engage community members to pilot the use of our tokenization and funding model as a novel means of funding public goods for the Superchain ecosystem. We expect to be conducting a pilot using this Impact Bond model (specifically to fund solar energy development) before the end of the year that can be a case study for how this can work in practice. ", "hidden": false, "question": "Initial Strategy: Outline a high-level strategy for how you will achieve your intended impact and key goals for the next 3-6 months", "questionId": 5}, {"type": "paragraph", "answer": "In addition to bringing key funding and tokenization infrastructure to the OP Stack and attracting ReFi and social good projects to the Superchain, it is our intention to make the our protocol another tool available for the Optimism ecosystem to carry out its own extensive public goods funding initiatives. While resources to fund public goods may seem vast, they are not endless.\n\nChange Code's protocol has the ability to drive funds to the most effective implementors by enabling funds to be committed to public goods in advance and then for investors to competitively determine which projects they believe are most likely to succeed. Our design balances the community's interest in keeping opportunities open to all while channeling treasury or other forms of public funding exclusively toward proven results.", "hidden": false, "question": "Integration Approach: Explain how the project applies token engineering within OP", "questionId": 6}, {"type": "dropdown", "answer": "Tooling", "hidden": false, "question": "Project category ", "questionId": 7}, {"type": "short-answer", "answer": "MVP", "hidden": false, "question": "Project stage: What stage do you consider your project is currently in? (F.e.: Plan, Proof of Concept (PoC), Minimum Viable Product (MVP), Fully integrated project)", "questionId": 8}, {"type": "paragraph", "answer": "Erin Murphy: Co-Founder; 3x impact founder; web3 product & former UN contractor; https://x.com/MurphyErinM | Chris Georgen: Co-Founder; 3x web3 founder, est. 2014; token engineering & web3 design; https://x.com/c_georgen | Civil Monkey: Community Manager; https://x.com/civilmonkey\n\nIn terms of technical ability, Chris has been a product and technology leader in web3 since 2015.  His first startup built an Ethereum-based mobile payment solution for retailers and restaurants with tokenized loyalty rewards which was in the market from 2015 to 2017. He then founded a Bitcoin L2 and led the development of tokenomics and protocol design.", "hidden": false, "question": "Team Expertise: Provide a brief summary on the team’s background and relevant expertise in token engineering and/or OP", "questionId": 9}, {"type": "paragraph", "answer": "Our work to date can be best seen by viewing our Github (https://github.com/change-code-io), documentation (https://docs.changecode.io), or our carbon registry (https://bcarbon.changecode.io)", "hidden": false, "question": "Existing Work: Provide evidence of any existing work, such as prototypes, research papers, or previous projects. If you have already done work within OP/ Superchain, please include that here too", "questionId": 10}, {"type": "paragraph", "answer": "We participated in TEC's GG20 round, and while the amount we raised admittedly did not allow us to bring in any new resources, it did help to enable us to continue building.\n\nBelow are some of the milestones we've achieved since GG20:\n\n- Migrating our contracts and deployment infrastructure to the OP Stack from the Ethereum base chain and other L2s;\n- Publishing our schemas and documentation (docs.changecode.io) and upgraded our early tokenization work, which was done just on an as requested basis for our partners, into a cohesive standard;\n- Extending our carbon tokenization setup to cover the full carbon credit lifecycle and retirement;\n- Retiring our first hundred carbon credits (out of 38,000 minted) and onboarding 2 additional public good generators to the protocol.", "hidden": false, "question": "Returning grantees: If your project has received prior funding from the Token Engineering Grants Program, please describe the impact that funding has had on the project", "questionId": 11}, {"type": "checkbox", "answer": ["I agree"], "hidden": false, "question": "Agreement checkbox: By checking this box, grantee commits to participating in the two milestones outlined below (exact dates will be communicated after your admission to the round): September: Milestone 1 requires completion of a grant profile in Grantee Accountability Protocol (GAP). The profile outlines the specific outcomes to be achieved by Milestone 2.  October: Milestone 2 requires a progress report on the grantee's progress towards achieving the outcomes agreed to in Milestone 1. ", "questionId": 12}, {"type": "paragraph", "answer": "Not at this time", "hidden": false, "question": "Have you applied or are planning to apply for additional funding rounds within the Optimism ecosystem? https://sovs.notion.site/d24bc00e3ed14139beb44b82a5e145c5?v=50ae5a8b531641e0b78f39a710f3ffa6", "questionId": 13}, {"type": "short-answer", "answer": "", "hidden": true, "question": "How did you hear about the Token Engineering Grants Program?", "questionId": 14}, {"type": "paragraph", "hidden": false, "question": "Anything else you'd like to share about your project, previous work, or other project affiliations? Anything you'd like to add that has not been covered?", "questionId": 15}], "project": {"id": "0x25c755d6e2fcc70cf0e27a4acbcfa88dad9a5a3fee1a33215fbdc6aabeb58b61", "title": "Change Code: Permissionless Results-Based Funding for Public Goods", "logoImg": "bafkreidkgcp7o7zfbw7owyk4m767i4bquvqjaj5wmkf27clqdjb3aeaamy", "metaPtr": {"pointer": "bafkreiecdsz3qrjvhqdnyil5rhfweuxrinsqbzxgr3mxjnpcj2bvqqsr54", "protocol": "undefined"}, "website": "https://changecode.io", "bannerImg": "bafkreicodeptbjk77zhsqothmibz2kfiwmpsu4kxciblqy6hytmhylswgu", "createdAt": 1722957040300, "userGithub": "c-georgen", "credentials": {"github": {"type": ["VerifiableCredential"], "proof": {"jws": "eyJhbGciOiJFZERTQSIsImNyaXQiOlsiYjY0Il0sImI2NCI6ZmFsc2V9..Vo-a3Z7YXqcGrUJYDYrzCTh5QnXYH0r3kgf71XYX8XJMVn7cb9vA4ilb4QScEx6ulvuH434mBHj7xLcxxm6mDA", "type": "Ed25519Signature2018", "created": "2024-08-06T15:09:16.441Z", "proofPurpose": "assertionMethod", "verificationMethod": "did:key:z6MkghvGHLobLEdj1bgRLhS4LPGJAvbMA1tn2zcRyqmYU5LC#z6MkghvGHLobLEdj1bgRLhS4LPGJAvbMA1tn2zcRyqmYU5LC"}, "issuer": "did:key:z6MkghvGHLobLEdj1bgRLhS4LPGJAvbMA1tn2zcRyqmYU5LC", "@context": ["https://www.w3.org/2018/credentials/v1"], "issuanceDate": "2024-08-06T15:09:16.441Z", "expirationDate": "2024-11-04T15:09:16.441Z", "credentialSubject": {"id": "did:pkh:eip155:1:0xa70b69f752C0dBd6ac07Fcf243a9960469735c4C", "hash": "v0.0.0:wYf5DFhCW5xor8fR4ZkPOH7t3WZNXDwdoDIl8QBoqL0=", "@context": [{"hash": "https://schema.org/Text", "provider": "https://schema.org/Text"}], "provider": "ClearTextGithubOrg#change-code-io#7481936"}}, "twitter": {"type": ["VerifiableCredential"], "proof": {"jws": "eyJhbGciOiJFZERTQSIsImNyaXQiOlsiYjY0Il0sImI2NCI6ZmFsc2V9..c5nIfMbU-gtv_uRkJ5jgW9L5LYXqthVPeeZksQMHtVsZ_g7w-G2cOqf6rt68tWNX9fzC1pC47Voi0poWc3z0Bg", "type": "Ed25519Signature2018", "created": "2024-08-06T15:09:50.496Z", "proofPurpose": "assertionMethod", "verificationMethod": "did:key:z6MkghvGHLobLEdj1bgRLhS4LPGJAvbMA1tn2zcRyqmYU5LC#z6MkghvGHLobLEdj1bgRLhS4LPGJAvbMA1tn2zcRyqmYU5LC"}, "issuer": "did:key:z6MkghvGHLobLEdj1bgRLhS4LPGJAvbMA1tn2zcRyqmYU5LC", "@context": ["https://www.w3.org/2018/credentials/v1"], "issuanceDate": "2024-08-06T15:09:50.496Z", "expirationDate": "2024-11-04T15:09:50.496Z", "credentialSubject": {"id": "did:pkh:eip155:1:0xa70b69f752C0dBd6ac07Fcf243a9960469735c4C", "hash": "v0.0.0:Frxhks9C27ATSbC9UIjgilQBQs6jztWMQ6Yv5mXCDPE=", "@context": [{"hash": "https://schema.org/Text", "provider": "https://schema.org/Text"}], "provider": "ClearTextTwitter#changecodeio"}}}, "description": "## TLDR\n* Change Code believes that to achieve the world's sustainability and other impact goals, we must find a way to make purpose profitable. We are pioneering new financial primitives and tokenomics that will see impact emerge as the next asset class to be powered by web3.\n* Since Change Code started in March 2024, we have minted and registered nearly 40,000 tons of web3 native carbon credits and begun work tokenizing numerous other economic externalities including solar energy in Nigeria, clean water access in 7 different countries, and ocean life restoration in Belize. In total these projects represent more than $600,000 in public goods and social impact value.\n* Having developed our tokenization framework, we're continuing the work toward the **monetization** of impact. One of our main goals for this round is to demonstrate the use of Change Credits as an alternative means of organizing stakeholders around public goods and to make the funding of those public goods profitable for those backing successful implementations.\n\n### Change Code\nChange Code has developed a token protocol for impact tokenization and monetization called Change Credits. Change Credits are a new ReFi/DeFi primitive (already in production as web3 native carbon credits) that utilize [hypercerts](https://hypercerts.org/) and the [Ethereum Attestation Service (EAS)](https://attest.org/) to maximize interoperability with the broader ecosystem.\n\nAs a primitive, Change Credits are highly adaptable to many funding and impact verification flows, ranging from retroactive funding and community donations to impact bonds and structured financing for social enterprises.\n\n## Impact Bonds\nSocial and development impact bonds (S/DIBs) are a tool in impact investing designed to transfer risk from the public sector to the private sector and have been used around the world to fund public health, infrastructure, climate, and myriad other innovations. Put simply, impact bonds allow those altruistically funding a public good to be shift the entrepreneurial (implementation) risk to private investors.\n\nTo visualize this process, below is how our impact primitive, Change Credits, can be leveraged to form an impact bond.\n\n![impact bond diagram](https://raw.githubusercontent.com/change-code-io/gitcoin-resources/main/impact-bond.png)\n\nWhen thinking about funding public goods, we can draw parallels back to the space of impact investment. The desire of a community for a public good to exist can be neatly divided from the evaluation and determination of which teams are most likely to be capable of delivering on that goal.\n\nWhile retroactive funding is an exciting tool, it does little to address the problems that are too large to be tackled without upfront funding.\n\nMoreover, models where projects are funded in part or even not funded at all in advance (see below) can also be captured seamlessly with the same set of Change Code primitives.\n\n![retroPGF diagram](https://raw.githubusercontent.com/change-code-io/gitcoin-resources/main/retroPGF-diagram.png)\n\nMore information on how Change Credits can be leveraged as a new primitive for funding what matters is available in our [docs](https://docs.changecode.io/). Also, if you'd like to follow along with our technical development, all of our work is available as open source on our [Github](https://github.com/change-code-io/). \n\n## Contributing to the Superchain\n\nAfter months of working across different ecosystems in line with requests from particular projects, Change Code is in the process of making our home on the OP Stack and the Superchain. We recently completed a preliminary migration of our contracts and deployment infrastructure to Optimism Sepolia, aligning our own design with the requirements of building on the OP Stack.\n\nBefore the end of the quarter, we expect to have all tokens for web3 native carbon credits (38,000 tons and counting) deployed on Celo's Dango L2 testnet so that we are well prepared for the eventual re-launch of Celo as part of the Superchain itself.\n\nThe rest of our infrastructure and deployments are being tested and will soon be launched into production directly on Optimism.\n\nIn addition to bringing key funding and tokenization infrastructure to the OP Stack and attracting ReFi and social good projects to the Superchain, it is our intention to make the Change Credit protocol another tool available for the Optimism ecosystem to carry out its extensive public goods funding initiatives. While resources to fund public goods may seem vast, they are not endless. Change Code's protocol has the ability to drive funds to the most effective implementors by enabling funds to be committed to public goods in advance and then for investors to competitively determine which projects they believe are most likely to succeed. Our design balances the community's interest in keeping opportunities open to all while channeling treasury or other forms of public funding exclusively toward proven results.", "lastUpdated": 0, "projectGithub": "change-code-io", "projectTwitter": "changecodeio"}, "recipient": "0x831F4ED6c49557318f06Bfb7Bce8488090cd9eCC"}}