Carbon Credits are Now Available for Purchase with Offers

Today, in partnership with EcoRegistry, a global registry platform known for its scalable digital technology and innovative solutions to drive climate action, we listed high-quality, tokenized Carbon Credits on Dexie. These are listed as Offers—the native peer-to-peer exchange capability that powers One Market.

This blog outlines the basic guidance to set your Chia Wallet up to purchase and retire these newly tokenized and offered Carbon Credits, as well as additional information on the Chia Climate Wallet features and benefits.

If you do not have a Chia Wallet, go to https://www.chia.net/downloads/ to get the downloadable Chia Wallet.

Note: While this download offers you the ability to become a Chia Farmer, it is not necessary to run a full node. You can simply choose the Light Wallet option when you install.

The Chia Climate Wallet

We designed the Chia Climate Wallet as an extension to the Chia Wallet to view and manage carbon assets. The Chia Climate Wallet enriches the underlying asset with specific information: who issued the token (registry), what project generated the token (project), and what year the carbon offset was realized (vintage).

The Chia Climate Wallet features the ability to use carbon asset-specific functionality called “Retirement.” In carbon markets, the term “retirement” or “claims” refers to an entity using a carbon offset – removing the offset from the ecosystem.

If you are seeking to support climate projects which generate carbon offsets, or seeking to offset your own carbon footprint, you will want to retire any carbon tokens you acquire!

Chia Climate Wallet Features

• Send Tokens
• Retire your carbon assets
• Detokenize your assets (not recommended)

Please note: Currently the world of carbon credits only works in whole numbers. The Chia Climate Wallet will only allow sends or retirements of whole numbers, but in your Chia Wallet you could send and/or create offers in fractionalized credits. This is not recommended as it will devalue your credits.

How to Acquire Tokenized Carbon Credits

Step 1: Download the Chia Climate Wallet

Ensure your Chia Wallet is running, then download the latest version of the Climate Wallet here.

Select the executable that matches your operating system and launch the program once the download is complete.
When the Chia Climate Wallet starts, it will display a screen indicating you have no climate tokens. That is expected.

Once you take an offer for a climate token, it will be visible in the Chia Climate Wallet.

Step 2:  Find Carbon Assets

The tokenized carbon credit projects can be found in the Carbon Markets section on Dexie. To view all carbon credit assets, click the All Carbon Markets link, or go here.

Select your preferred currency pairs for carbon assets from the buttons listed next to the Carbon Markets heading.

Each tokenized carbon asset includes the following details:

• Project name
• Vintage (Year the credits were issued)
• Registry that issued the credits
• Country where the project is located

Context:

• Many of the offers will be made in wUSDC.b. A few offers will use XCH as the asking currency. If you need wUSDC.b you can go to the WarpGreen bridge to get wUSDC.b into your Chia Wallet. The guide for using the bridge can be found here. Optionally you can also leverage Dexie to accept an offer of wUSDC.b for XCH.
• To learn more about the project for these credits, click on the info icon below the project name. This will take you to the Asset Overview page, which lists additional information on the project including the website that links to the Climate Action Data Trust, a global carbon registry.

Context:

• Variance in Value – Not all carbon assets are valued equally. The type of project, the vintage, etc all impact the value of each asset to varying degrees.

Step 3: Select an Offer

Once you’ve selected which asset you want, add the name of the carbon token in the Chia Wallet. In the wallet, click on Manage Token List and press the + button. Then, add the Asset ID and your name of choice.

Select the offer you want from the list of available offers and click the drop down marked “take.”

While there are different ways to get the offer, the easiest is to select “copy offer.” A pop up will appear indicating that the offer was copied. This will copy the offer file to your clipboard.

Next, go to your Chia Wallet and select the “Offers” tile.

Paste (CTRL+V on Windows, CMD+V on macOS) on the offers page and the offer will pop up.

To accept the offer click the “Accept Offer” button on the top right of the page.

Note: If you do not choose a name for the token you’ve chosen, you will receive a pop-up warning which will provide a token name beginning with CAT[XXX.XXX]. 

Step 4: Support Climate Action

Congratulations! You now own a tokenized carbon credit and can see the enriched information about your carbon asset and its related project in your Chia Climate Wallet.

To reduce your carbon footprint, you can now retire your carbon asset. In your Chia Climate Wallet, find your token, click retire, and fill out the required fields. You will need to enter the amount you are retiring, and the beneficiary (optional, and most likely yourself), and any memo you’d like to include.

You’ve now purchased and retired a carbon credit through a peer-to-peer transaction and have directly supported a climate action project!

original source – Chia.net