Change Code: web3 native carbon markets
{"type": "project", "title": "Change Code: web3 native carbon markets", "logoImg": "bafkreiclgujs6nh4qsez7p36kf5jkuakiqjehtjdwwbwhoismeg2lim4t4", "website": "https://changecode.io", "bannerImg": "bafkreibiixebyeli7s4gcdkbg3ueluw5vmasrqpl3qpkx74tac4lp5c2sq", "createdAt": 1722648131708, "userGithub": "c-georgen", "credentials": {"github": {"type": ["VerifiableCredential"], "proof": {"jws": "eyJhbGciOiJFZERTQSIsImNyaXQiOlsiYjY0Il0sImI2NCI6ZmFsc2V9..VZJVjbdsYOJlwy4OVWc1_Cb_RX1h2xg--0ANvhVtvdjC3uehngmGL8yEg8Yg8L4C_bcadnHgX6j50yWea8j8CQ", "type": "Ed25519Signature2018", "created": "2024-08-03T01:21:50.201Z", "proofPurpose": "assertionMethod", "verificationMethod": "did:key:z6MkghvGHLobLEdj1bgRLhS4LPGJAvbMA1tn2zcRyqmYU5LC#z6MkghvGHLobLEdj1bgRLhS4LPGJAvbMA1tn2zcRyqmYU5LC"}, "issuer": "did:key:z6MkghvGHLobLEdj1bgRLhS4LPGJAvbMA1tn2zcRyqmYU5LC", "@context": ["https://www.w3.org/2018/credentials/v1"], "issuanceDate": "2024-08-03T01:21:50.201Z", "expirationDate": "2024-11-01T01:21:50.201Z", "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..MSUwQMTfhOp9ITbAJ98f4ASbTtlPDzBI1JZ4spdpE2IRt5rX70zpJfMv2DUVwbHD4eP1HGQ15EXeK1tX7I8bCw", "type": "Ed25519Signature2018", "created": "2024-08-03T01:21:28.807Z", "proofPurpose": "assertionMethod", "verificationMethod": "did:key:z6MkghvGHLobLEdj1bgRLhS4LPGJAvbMA1tn2zcRyqmYU5LC#z6MkghvGHLobLEdj1bgRLhS4LPGJAvbMA1tn2zcRyqmYU5LC"}, "issuer": "did:key:z6MkghvGHLobLEdj1bgRLhS4LPGJAvbMA1tn2zcRyqmYU5LC", "@context": ["https://www.w3.org/2018/credentials/v1"], "issuanceDate": "2024-08-03T01:21:28.807Z", "expirationDate": "2024-11-01T01:21:28.807Z", "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 goals, we must find a way to make purpose profitable. We’re pioneering new financial primitives and tokenomics that will drive impact as the next asset class to be powered by web3.\n* Change Code is partnered with [BCarbon](https://bcarbon.org/), a leading carbon research and standards body and one of the only standards bodies to embrace web3 for their native registry. By embracing a blockchain-native registry, supplied by Change Code, BCarbon is able to offer an unmatched level of transparency and accountability for their credits.\n* Since beginning our work together in March of this year, BCarbon has issued nearly 40,000 tons of carbon credits for soil and forestry-based sequestration using Change Code’s asset tokenization framework.\n* Our goal for this round is to extend our tokenization framework to support the issuance of carbon credits from upcoming methane and blue carbon protocols being developed.\n## Change Code\nChange Code has developed a 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## Background and Previous Work\nBCarbon began in 2019 at Rice University’s Baker Institute for Public Policy as a working group that has since grown to more than 600 carbon buyers, landowners, and climate experts. BCarbon identified the need to create a new carbon standard that could simultaneously garner a high degree of trust from buyers but also present a feasible set of requirements for land stewards. Though they initially set out to solve this usability and awareness gap in their own backyard focusing primarily on Texas ranchers, in the last 18 months, they’ve received project inquiries from several countries across the globe.\n\nSince March of 2024, Change Code has worked with BCarbon to natively tokenize more than 38,000 tons of carbon as BCarbon’s web3-native registry provider. To date, these carbon credits have been issued according to BCarbon’s protocols for soil and forestry carbon supporting land stewardship in the US and the UK.\n\nYou can find more information on the carbon credit work we’ve accomplished since launch at the [BCarbon registry](https://bcarbon.changecode.io/), powered by Change Code.\n\n![web3 native registry](https://github.com/change-code-io/gitcoin-resources/blob/main/Carbon%20Credit%20Registry.gif?raw=true)\n\n## Carbon RWA Tokenization\nBCarbon credits are tokenized as either fungible or non-fungible tokens and tied to batch and land steward specific metadata to create a complete and immutable representation of the carbon asset on chain. This tokenization is carried out pursuant to Change Code’s broader Change Credit framework. More information on our impact tokenization framework can be found in our [docs](https://docs.changecode.io/).\n\nThe entire lifecycle for BCarbon’s credits is carried out natively on-chain with Change Code. Credits are minted as either ERC20 or ERC721 tokens with supporting documentation published via IPFS. Carbon buffer balances are maintained in separate and fully transparent accounts, and credit retirement is mirrored through token burning.\n\n## Goals and Upcoming Milestones\nOur motivation for participating in this GG21 round is to (1) make the necessary enhancements to our tokenization process to support additional carbon protocols and (2) complete our migration to Celo.\n\nWithin the next quarter, we anticipate carbon credits being issued pursuant to a methane abatement protocol that will see natural gas wells capped and secured to prevent any additional greenhouse gas release. Following the launch of the methane protocol, we will begin further extending our tokenization framework to support blue carbon projects.\n\n### Celo Migration\n1. We recently completed a preliminary migration of our contracts and deployment infrastructure to Optimism, aligning our own design with the requirements of building on the OP Stack.\n2. Before the end of Q3, we expect to have our contracts deployed on the Dango L2 testnet so that we are well prepared for the eventual re-launch of Celo as part of the Superchain.\n3. We have already begun testing the use of LayerZero to see our impact tokenization and monetization protocol achieve fully cross-chain functionality. By Q4, we are aiming to complete our LayerZero integration and to move into production.", "logoImgData": {}, "bannerImgData": {}, "projectGithub": "change-code-io", "projectTwitter": "changecodeio"}