Thread by @Dakavon

1/ Retiring my first CO2 certificates from the Voluntary Carbon Market (VCM) on the @0xPolygon blockchain with @ToucanProtocol's Nature Carbon Tonne and offsetting my travels for the first half of this year (Q1/2022 + Q2/2022).

Let's see how its going! 🧵 #carbonOffsetSunday

2/ First things first: Regenerative Finance (#ReFi) is in full swing in #crypto #web3.
Not a single ethereum conference without a ReFi group meetup and climate friends.
Unfortunately I could not make it to @eth_barcelona :(

3/ Teams building at this intersection between climate and crypto solve real world problems!
ReFi is sustainable Decentralise Finance (DeFi) due to trading assets are backed by real-world CO2 certificates.

4/ Bridged CO2 certificates from the @VerraStandards registry via @ToucanProtocol onto the @0xPolygon blockchain are handled as TCO2s which is general term for fungible tokenized carbon credits.
That carbon needed to be retired before it was bridged to prevent double spending.

5/ TCO2s still hold their metadata such as project info and vintage and represent tCO2e (tonnes of carbon dioxide equivalents).
TCO2 tokens are therefore non-fungible and not very liquid which unfortunately makes trading them more difficult.

6/ Enough introductory words, here we go!

For my personal offsets I decided to use the $NCT token (polygonscan.com/token/0xd83829…) which is a pool of nature based projects.
#carbonOffsetSunday

7/ @ToucanProtocol's carbon pool like NCT provides high liquidity, reduces market fragmentation due to containing multiple @VerraStandards certified sustainability projects.
In other words: NCT contains TCO2s from different nature based projects that were bridged earlier as TCO2s

8/ How to calculate the CO2 emissions I produced?

For this step I used @EcoTree_contact to calculate my emissions for train travels, e.g. to/from @EFDevconnect @ETHGlobal #ETHAmsterdam.
ecotree.green/en/calculate-t…

9/ For flights I would have used the calculator by @icao
applications.icao.int/icec

10/ Did you know the difference between CO2 and CO2e? 🤔
coolerfuture.com/blog/co2e

11/ Let's cut to the chase!

🧮 My personal emissions for travel this first half of the year: 0,7776 tCO2e

Including:
+ Driving by car (to and from work and on weekends)
+ travelling by train
#carbonOffsetSunday

12/ I should have used the train much more often which is only 4% of my emissions.😶

13/ Luckily I had some $MATIC in my wallet and simply swapped some MATIC for NCT on sushiswap yesterday.

FYI: You have to be connected to Polygon!

14/ Its pretty easy when you have found the correct token within @SushiSwap's token list.

Be careful with untrusted token lists!

15/ Unfortunately searching for *Toucan* just brings up @ToucanProtocol's BCT token.

This is the correct link:
app.sushi.com/swap?tokens=MA…

@ToucanProtocol 16/ Phew, so the homework is now done. 👏

Lets checkout the App on toucan.earth and connecting my wallet.
#carbonOffsetSunday

17/ At the bottom of the page under *Carbon Pool Tokens* I find my purchased NCT 🌳

18/ Can you believe it that *ONE TONNE OF NATURE BASED CARBON* is just over $3 ?? 🤯

19/ Clicking on "Redeem TCO2" brings me to a three-step process starting with the selection of the redemption method.

As we can see redeeming carbon from the with the oldest vintage is free.
Selective redemption costs are 10% - lets have a look at that! 🧐
#carbonOffsetSunday

20/ The next page lets me select the TCO2 I want to redeem from the pool. We can make use of the available filters for project origin and vintage.
#carbonOffsetSunday

21/ I do get the idea of supporting this or that project by purchasing selective TCO2.
Also for corporates that want to show specific projects on their CO2 compensation balance sheets!

22/ At this point I will leave it with automatic selection and because its more fun I will redeem TCO2 for 10 NCTs. 🌱
#carbonOffsetSunday

23/ By clicking "Redeem now" I initiate a transaction, metamask pops up, final checks on the contract address and gas fee, confirm and after a few seconds I receive my TCO2s in my wallet.
Nice and sweet. 🥳
#carbonOffsetSunday

24/ Oh yeah. Note to myself: Never mention *metamask* in one of my tweets again. 🙈
Bots will come at you!

25/ Well, i guess we are nearly finished.
On that same page below the Toucan CO2 Tokens (TCO2) section I find my redeemed TCO2 from one specific project.

26/ I guess I found this project with just one click of a button.
reddprojectsdatabase.org/view/project.p…

27/ Final step!
Click on "Retire" brings up an Offset emissions popup that lets me select the TCO2 I want to retire and amount. Lets go max! 😃
#carbonOffsetSunday

28/ Click "Continue" and I am allowed to leave a message for the world. My first climate positive impact thought retiring TCO2s 🌱
#carbonOffsetSunday

29/ 🏁 Target reached!
I have now retired my first TCO2s from a nature base carbon project on the @0xPolygon blockchain via @ToucanProtocol's carbon dashboard. 🥳

Starting point of this thread just for reference 👇

https://twitter.com/Dakavon/status/1546174105887571969

30/ Next personal offsets to come! 🌱🌳
Which project and vintage would have your support?
#carbonOffsetSunday

31/ If you are planning to offset your own (unavoidable) emissions, try this guide I followed:
blog.toucan.earth/how-to-retire-…

32/ Also @KlimaDAO introduced "LoveLetters" where you can send a message to the world while retiring carbon credits with $KLIMA.
loveletter.klimadao.finance

33/ We do have a climate crisis! Everybody on deck and lets tackle this crisis together!
nature.com/articles/s4161…

34/ Further projects/teams/DAOs I came across since I dipped my toe into ReFi and I got hooked! 💯👏
@ToucanProtocol
@KlimaDAO
@solidworlddao
@dClimateDAO
@senken_io
@nori
@ReFiDAOist
@carb0nfi
@GeotreeEM
carbonstack.de

35/ As @mankemens pointed out, I was also shocked to see on-chain prices for nature base carbon differ with factor 3?!! 🤔
carboncredits.com/carbon-prices-…

36/ The emissions calculation is simple, I promise! 🙃

https://twitter.com/Dakavon/status/1546605491253551104