Nothing came up for

Carbon Marketplace and Exchange

$14,792.00 Received
$64,100.00 Requested
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Problem:

没有一个专门的、充满活力的市场的碳代币将仍然是小众的,被自私的传统机构和惯性所束缚。

挑战: F8: DApps and Integrations
funded Awarded 2.564% of the fund.
Community Advisor Reviews:
4.8 (12)
Yes Votes:
₳ 69,349,146
No Votes:
₳ 13,113,680
Unique Wallets:
411

经验

Team of highly experienced carbon and energy traders. Continuation of funded proposal Block Carbon “Carbon as DeFi asset” Foundation and Standard. We bring decades of experience with on- and off-exchange trading, CEX, DEX, automated trading systems and platforms.

解决方案

由受信任的保管人支持的碳代币的交易和押注,允许在实现完全分散化之前发展流动性。

[IMPACT]

\n\n[IMPACT] Please describe your proposed solution.

Long description of the Problem

Many projects on the ERC-20 standard and on other chains have failed/not performed due to one or many of the following reasons

rushing coins to market lack of integration between legacy registries and blockchain tokens unrealistically high yield, creating an inflationary asset lack of investor access, onboarding problems, no KYC/AML lack of price discovery mechanisms, purely speculative intrinsic value and high correlation to crypto prices no adequate market making to suit carbon, which behaves like an energy commodity and not like a currency or bond inadequate use of NFT for simplicity of the sake of using NFTs inadequate marketing, promising a get-rich-quick scheme that is “also green” A “regenerative” carbon economy is not just an optimistic possibility, it is a necessity. As the Wikipedia article on Carbon Prices points out, an order-of-magnitude increase of carbon prices is necessary to achieve UN climate targets. However, the gold rush mentality of the day is not matched by significant breakthroughs. Here, we sense an enormous opportunity for Cardano – it is not our style to “fail fast” but instead hit home runs with rigorous research and doing things correctly, not necessary first. Reference: Regenerative economy and existing blockchain solutions exists on ERC-20 standard

https://klimadao.medium.com/klimadao-a-building-block-of-the-refi-economy-2124a443b043

https://coinmarketcap.com/currencies/klimadao/ Across a growing universe of tokens, NFTs and DAOs, climate-related crypto assets are already a reality. Put into a simple, utopian formula, the concept sounds like magic: invest in carbon, the price goes up, pollution stops. The Kyoto Protocol which attempted the concept between 2005-2020 under a top-down, inter-governmental UN framework, did not have the many merits of distributed ledger technology. Public awareness of climate catastrophe was much lower 20 years ago. Implementation is hard though, and some projects that built in overambitious yield promises or other inflationary features or design flaws have fared badly. Doing things the Cardano way sets our project apart through rigorous research and inclusion of a wider group of stakeholders. So this is the right time, and Cardano is the right blockchain to do this right. Long description of the Solution

Building a vibrant, liquid carbon market the Cardano Way

hybrid model of centralized/decentralized exchange offering both stability by proper collateralization, customer onboarding and governance while maintaining a design that allows for later transition to a fully decentralized, autonomous organization/exchange similar to “IOG Voltaire process” launch of a basic carbon building block asset and later a single carbon derivative to encourage trading, market making and draw liquidity allowing other carbon pools to list once they have sufficient size and can be modeled sufficiently to provide liquidity algorithmically  Please describe how your proposed solution will address the challenge?

The Challenge setting explicitly mentions how Cardano sets itself apart through its rigorous research and strives to do things correctly. It is hopefully clear from our proposed solution and the approach taken with the BlockCarbon foundation and standard that we thrive to take an inclusive, rigorous approach and create a carbon market that is distinct from yield-seeking, speculative DeFi and instead focused on fundamental price discovery and long-term appreciation of emission costs. We are targeting the highest possible levels of certification. This would allow a completely new and uncorrelated asset class with enormous growth potential over decades to emerge and critically to get built on Cardano - attracting new users and diversifying the user-base and helping grow adoptions among many corporate and individual users currently not on the blockchain. Proof-of-Work blockchains have created much controversy among climate activists using blockchain technology and it is important to build momentum on Cardano with all its benefits over Ethereum to address the challenge.

https://www.ecowatch.com/wwf-nft-controversy-climate-impact.html

What main challenges or risks do you foresee to deliver this project successfully?

Major risk of the proposal and mitigation measures:

Lack of progress, falling behind competing protocols: many projects fail as funds are depleted or others get to the users first. As the timeline for fighting climate change is measured in decades, and equally blockchain adoption is completely transforming financial services, we are relatively early to address the need for carbon as the building block for a new form of regenerative economy. As the Kyoto Protocol of the UN has shown, even successful and large schemes can underwhelm the expectations the world has of a lasting, fair and transparent solution to this most pressing issue of our lifetime. Geopolitical events and adverse business environment: compared to the previous Catalyst funds, the war in Ukraine, the disappointing economic recovery after Covid and mounting inflationary pressures present a much gloomier business outlook. The prices of many crypto currencies and NFT projects have fallen over half in value. National carbon markets have seen large volatility since the beginning of the year after rising for over a year. Negative Crypto Publicity and Declining ADA price: convincing carbon market users to move their precious offsets onto the Cardano blockchain will require a lot of trust, and many users have negative perception due to the 2017/2018 market volatility, early scams and unsustainable DeFi yield promises on the internet. We plan to focus early on the stability, energy-efficiency and long-term vision of Cardano Foundation, IOHK and the certification coming to Cardano DApps. Regulation and missing Crypto-Legacy Finance Bridges: the 2017 ICO boom and following bust has made financial market regulators aware of tokens traded on the blockchain as potential securities and a risk for retail investors under their jurisdiction. To allow for easy and universal access, cooperation with existing DeFi marketplaces on Cardano will be necessary initially. This space is evolving very quickly and we foresee a much broader universe of existing DEXes and increasing ease of listing for ADA-linked tokens. However, to mitigate the risk of adverse development, we will develop in parallel the ability to initially mint NFTs from individual carbon offset projects and build functionality to trade or surrender these against (divisible) fractional ownership of the same project and/or ADA. High Costs of building an Exchange and supporting Infrastructure: this risk does not immediately concern the project but the future prospects of growth into a dedicated trading marketplace, which is an important upside potential of the proposal. We plan to raise additional funds and donations early into the fulfilment period to this end, and will participate in open source DeFi communities to gain early access and build ahead of time to mitigate rising costs for talent, and infrastructure. The recently announced certification of Cardano DApps will further help draw funds into the project and gain critical mass for market making, dedicated developer support and cooperation with stake pool operators. https://iohk.io/en/blog/posts/2021/10/25/new-certification-levels-for-smart-contracts-on- cardano/\n\n[FEASIBILITY] Please provide a detailed plan and timeline for delivering the solution.

Roadmap

Using synergies with the implementation of the BlockCarbon Standard (https://cardano.ideascale.com/c/idea/381939), we plan a 12 months roll-out from testnet token trading on day 1 to a full-fledged, albeit not yet fully decentralized marketplace with trading volume in the millions of USD equivalent on day 365. There are 2 really important versions of the market place to manage at the same time: providing a “trading venue” for carbon offset tokens to allow a community of early adopters to develop, while launching the proper “exchange” with as many features and all the bells and whistles. Developments on the trading venue should inform and improve the development process of the exchange, while feature innovation of the pre-launch exchange will gradually be ported into the trading venue. The launch date of the exchange will then still represent a “quantum leap” in liquidity, user experience and functionality, but cause much less disruption and surprise than either version on its own. Note that Roadmap is slightly different from KPI listed below under Auditability - here we present the strategic goals along a timeline, whereas below similar timestamps are presented with quantifiable goals for the Challenge Team reviews. After 2 months: Project management finalized with additional skills acquired and partnership with oracles and Cardano DeFi partners announced. Integration into BlockCarbon DeFi Standard projects. After 4 months: Existing and newly created carbon liquidity pools can be priced on a daily settlement basis and transactions happen on a regular basis on the "trading venue". Exchange alpha launches on testnet. Developments in this quickly emerging business landscape can be responded to and adjustments made using collaborators or own projects in future Catalyst fund. After 6 months: Research into decentralized features finalized and starting to be implemented into hybrid exchange. After 8 months: Trading venue starts to look a lot like a real market place, with integration of TradFi players and custodial solutions. Legal incorporation and onboarding process of exchange up and running. After 1 year: "trading venue" and "centralized exchange" give way to officially launched, hybrid exchange with central custodian supplying benchmark asset custody along decentralized market makers and hybrid order book. Frictionless, round-the-clock trading. Please provide a detailed budget breakdown.

Budget breakdown

For Fund-7 we received a Community Advisor comment that "cost is also grossly underestimated". We know that creating an exchange from idea to millions of dollars worth of assets securely traded, with full-time operations and customer services would require funding to the tune of 10-20x the requested. However, Project Catalyst works differently. With successive funding rounds, the community engagement that comes with the different stages of the process and the connected Cardano ecosystem with its grants and partnerships, more cost-effective projects are possible. Including our own network of volunteers and partners, we think that around 2000 hours of highly skilled contributors are realistic with the budget requested (leveraging volunteerism and collabs 1-for-1), and that it will be sufficient to support the roadmap throughout. Funds requested breakdown:

200 hours admin, marketing and project management throughout life cycle of project

@30 dollars per hour on average = $6000

240 hours research, testing, trading simulation and product beta

@45 dollars per hour on average = $10800

400 engineering hours implementation and deployment

@55 dollars per hour on average = $22000

60 engineering hours UI front-end design and tester engagement

@55 dollars per hour on average = $3300

$12000 estimate for compute, network fees etc. prior to soft launch, chargeable services $10000 estimate for costs related to incorporation, legal and administration TOTAL BUDGET: $64100

Please provide details of your team members required to complete the project.

The BlockCarbon Team Thomas Wedler

Experienced energy derivatives trader and entrepreneur. Ex Shell, Vattenfall, Masefield senior trader. Tom has been building and deploying programs for automated market making and energy derivatives since 2014. 15 years Derivatives experience at multi-national organizations working closely with industry bodies and speaker at energy market conferences and workshops. Involved in crypto trading since 2014 and DeFi/oracles since 2018.

https://www.linkedin.com/in/thomas-wedler-18960/ June Akra

Financial market expert and academic with vast experience in risk management, derivatives and commodities. Experience for various risk functions in 2 billion dollar AUM fund. Holder of Master degree in Investment with distinction and awarded Draper Prize. Certified Quantitative Finance (CQF) alumni London. Experienced video editor, content creator with combined 50,000 followers on social media, NFT collector and creator and certified python AI practitioner.

https://www.linkedin.com/in/june-a-a3a0b4174 Lloyd Duhon

Lloyd is owner/operator of Living Greens Urban Farm and a 25 Year IT veteran, CTO level experience. He is a graduate of the Cardano Plutus Pioneer 2nd Cohort. Experienced in leading development teams and working closely with Florida Gulf Coast University. He is contributing to the Cardano Community as Community Manager at DripDropz (https://dripdropz.io)

https://www.linkedin.com/in/lloyd-duhon/ Stefan Herde

Experienced energy market CEO, consultant, renewables and energy efficiency expert and former president of a billion dollar US Inc. Total of over 30 years of energy industry experience.

https://www.linkedin.com/in/stefan-herde-33058539/ Other members of BlockCarbon the foundation working on the project: 3 blockchain developers (2 for Cardano, 1 specializing in Polygon and Ethereum) based in Europe and Asia, 2 former exchange architects, TradFi inter-dealer broker, SecOps expert and finance lawyer. See more under budget how we plan to grow the team. Skills Required

The key skills to make the proposal a success will be:

• Networking skills reaching existing carbon market users (government ETS, electricity generation, industry, aviation, voluntary carbon offset providers and exchanges, carbon footprint startups and projects)

• Deep understanding of and ability to build on the blockchain: smart contracts, tokenization

• Deep understanding of DeFi ecosystem and value-chain, integrating oracles, protocols and DEXes with new carbon price indices, derivatives and tokens.

• Plutus, Haskell and Python Programming with understanding of Polygon and Ethereum (Solidity, JavaScript), Hyperledger (Go, Java, JavaScript, Python) and Tezos (Michelson, Python) a plus to integrate existing carbon-blockchain dApps.

• Video content creation and edutainment skills to educate carbon market users about DeFi and vice versa

• Treasury and finance skills to stretch budget, raise funding and donations and increase credibility among industry and legacy finance users skeptical of DeFi We are confident that the team of proposers is uniquely qualified to liaise between carbon (energy) market users and blockchain / DeFi. Our work experience covers most potential sources and sinks of carbon offsets and provides a rich network of contacts relevant to making initial onboarding of users a success. As Plutus smart contracts and Cardano DeFi are quite new, we are also in a position to contribute meaningfully to the growing body of knowledge and hopefully benefit from fruitful open source collaboration in return. Starting this project within Catalyst will hopefully showcase how teams from around the world who never worked together and would never have met otherwise can create something extremely meaningful from the ideation stage without traditional means of funding and therefore unincumbered by the conflicts of interest and politics holding back climate action in the old economy.\n\n[AUDITABILITY] Please describe how you will measure the progress and the development of the project?

Roadmap

Using synergies with the implementation of the BlockCarbon Standard (https://cardano.ideascale.com/c/idea/381939), we plan a 12 months roll-out from testnet token trading on day 1 to a full-fledged, albeit not yet fully decentralized market places with trading volume in the millions of USD equivalent on day 365. The project can easily be audited on its own metrics - and carbon tokens can be created prior to any marketplace launch while the marketplace can list any carbon token on Cardano. See for these metrics below. Milestones and KPIs

The existing BlockCarbon Standard is targeting 2 million dollars of TVL in carbon assets / carbon liquidity pools originated after 6 months / by September 2022. This is only one of many applications for green finance using carbon as a building block, but will be central to the exchange and gradually form the backbone of a regenerative economy. With the vote in May, we expect the trading venue to come online alongside the BlockCarbon locked projects in the third quarter. After 2 months: additional TVL grows to $2 million, exchange has a dedicated website and identity separate from BlockCarbon foundation and work. After 4 months: At least 3 carbon pools / different price indices exist and have daily price series. After 6 months: TVL grows to $10 million, tokens come to life officially, for example by being included on coinmarketcap etc. After 8 months: TVL of $20 million, 100 registered users of trading venue, integration with 2 oracles and 2 DEX from BlockCarbon partners. After 1 year: See above, binary outcome of successful launch and the publicity that comes with it. Carbon Exchange officially launched, hybrid CEX/DEX model with central custodian supplying benchmark asset custody along decentralized market makers and hybrid order book. Frictionless, round-the-clock trading. What does success for this project look like?

Our Goals

BlockCarbon are creating a standard for creating and trading carbon tokens on Cardano. Other blockchains also had some success and a fast-growing universe of funded pools with different quality is emerging. Using a design that can stand the test of time, we plan to allow trading of carbon assets similar to trading of crypto assets. It is paramount to address the idiosyncrasies of this unique instrument. Most importantly, we need to focus on the bigger mission – be part of a technology and movement that is not disruptive, but foundational.

More on this subject by the Harvard Business Review: https://hbr.org/2017/01/the-truth-about-blockchain Step by step, a system should emerge that does not rely on the governance, funding channels and incentive structures of the legacy financial economy. We thrive for a financial system that is inclusive, regenerative, resilient and decentralized. There is even a chance for the community of builders creating decentralized climate solutions to entirely remake the carbon accreditation process, with new technologies like gps tracking, satellite data analysis and artificial intelligence all coming to market alongside our scalable, robust Proof-of-Stake blockchain. This marks a new era where the shortcomings of the Kyoto Protocol era are no longer necessary. 4C Data gathering

https://4c.cst.cam.ac.uk/about/observations Guardian criticism of VCS/Verra

https://www.theguardian.com/environment/2021/may/04/carbon-offsets-used-by-major-airlines-based-on-flawed-system-warn-experts Verra responds – Guardian dispute

https://verra.org/verra-response-to-guardian-article-on-carbon-offsets-used-by-major-airlines/

Please provide information on whether this proposal is a continuation of a previously funded project in Catalyst or an entirely new one.

BlockCarbon was funded in Fund 7 for the “Carbon as a DeFi asset” Foundation and Open Source library. Along with its many partners and volunteers, the project is now underway to include a “carbon bridge” to mint tokens and generate best-in-class use cases for on-chain greenhouse gas mitigation projects. This proposal is a continuation of a previously funded project. https://cardano.ideascale.com/c/idea/381939 BlockCarbon is also co-proposing with DripDropz engineers to establish a ERC-20 conversion functionality that could greatly boost liquidity on the exchange by moving over existing carbon offset tokens from Ethereum and Polygon projects that fulfil the BlockCarbon standard and Cardano requirements.

https://cardano.ideascale.com/c/idea/398046 As we are competing with protocols being built on other chains backed by “years of development and millions of dollars in funding” (references), being more secure and thorough is unfortunately not going to be enough. That’s why we are asking to start a carbon market place in parallel to built the team necessary and gain the traction to propel Cardano to the forefront of a regenerative economy powered by DeFi.

社区顾问评论

Addresses Challenge

5 / 5
4 评论

Does the proposal effectively addresses the challenge?

社区评论 (4)

Commenter gravatar
April 13, 2022

This is a continuation of the project "Carbon as DeFi asset“. The proposer has identified that there is no marketplace to trade carbon tokens while suggesting that trading and staking of carbon tokens backed by a trusted custodian will allow liquidity to develop before full decentralization can be achieved. The project has a positive impact not only on cardano but in other ecosystems too. The KPIs somehow differ than those of the challenge only on the way they are presented by the proposer, otherwise the project meets the challenge's KPIs.

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April 13, 2022

This Fund there is no category for Decentralized Finance, and last fund there were two. I find this quite strange. But when I read the Challenge statement for DApps and Integrations it seems that now DeFi has been included in this category. I may not agree with that step but I totally agree that this is a DeFi proposal and should then be proposed in this category. In terms of its impact, climate change and carbon are currently "hot" (as far as DeFi is concerned I mean, not "hot" like CNFTs but more so than, say, stablecoins!). So to answer the question of the Challenge: * most profitable or * most used applications on other ecosystems * solved by new applications * deliver the highest amount of value I agree that climate / carbon tokens are a very good way to bring Cardano to the front of the blockchains for DeFi. Marc Cuban is investing in climate tokens and he is normally quite good about early crypto trends.

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April 13, 2022

The proposal seeks to position Cardano in a position of leadership with regards to the growing number of Ethereum related carbon focused dApps and marketplaces. Given the market positioning Cardano has in the past year looked to capitalize on RE: being carbon neutral and environmentally sustainable, giving attention to a project that aligns with and allows for the amplification of that market positioning and which has previously won Catalyst funding aligns very well with the challenge objectives.

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April 13, 2022

The Carbon Marketplace and Exchange addresses DApps and Integrations challenge by building a liquid carbon market where carbon asset and carbon derivative can be traded efficiently. The carbon marketplace and exchange will allow other carbon pools to list to provide liquidity to the market. Also the design of carbon marketplace and exchange will open up opportunities for decentralized automous organization later on. The carbon mission will benefit to the whole Cardano community. As DApp challenge for this fund pays attention to the certification of DApps, it is great that they mention this in their proposal. I believe that the Carbon Marketplace and Exchange is an application that will bring the most value for users in 2022 which is the goal of the challenge DApp and integration.

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Feasibility

4.8 / 5
4 评论

Given experience and plan presented is likely that this proposal will be implemented successfully?

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April 13, 2022

The team is fully qualified to perform the tasks, details and links to their profile have been provided. I find the budget reasonable and detailed. Someone that really knows his work can surely complete the job. Furthermore, I see in the proposal a team that is willing to even work more hours if needed and give more in order to try a solution that will benefit the ecosystem without requesting additional funds. The proposer has provided detail technical descriptions and in general, the proposal is written in a very honest way without trying to hide the difficulties that will be encountered. Only for that, I would recommend this project.

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April 13, 2022

It is reassuring to know that the team got funded before and have begun their work and there are team members with LinkedIn profiles and good track record in their business. Otherwise, I would say that the goal is very ambitious, and will most likely require more funding. It is possible, as previous DeFi projects have shown: collect 50k, or 70k, and then build and get funded some more by other funds and investors. But 60k for a DEX is very, very, very tight. Marketplace I am happy with. For DeFi DEX, maybe the team should have stated that this is an MVP or POC or some other wording.

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April 13, 2022

The team has experts from the energy/carbon-market sector and a plutus pioneer graduate as part of the core team, 3 other blockchain devs already working with them, which I think gives them a great change of achieving their objectives from the technical and business-use ends.

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April 13, 2022

The roadmap provided by the team allows me to visualize the project from start to finish. They also address well regarding the budget on creating the exchange that the community engagement and partners will help this project to be cost-effective. The project timespan of 1 year is very implementable despite the big project size and scope of work. They also give the budget breakdown covering the number of hours involved for each functionality of the project. The project requires expertise in commodity and financial markets to come along with the technical and industry knowledge which the team possess. The team is also passionated about climate mission making it very feasible that they will bring this project to completion.

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Auditability

4.5 / 5
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Does the proposal provides sufficient information to assess and audit progress and completion?

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April 13, 2022

The proposer and the team are aware of the complexity of the project as well as of the risks and challenges they will come across but they want a fair chance to try implementing the project. I will not comment on anything else as all info are in place. I would bet on the team and the successful implementation of the project by giving a fair chance of success.

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April 13, 2022

This is a really nice way of making the project auditable: present a mix of quantitative and qualitative goals across a timeline and say what you think you can achieve and how fast the rollout will be. By doing so, blockers can be identified with the funding team and funding can be withheld if blockers cannot be overcome, or help can be sought from other people. A lot of proposals just state "KPIs are …(list)…" and do not say what they want to do by when and how much. If I isolate the feasibility and the possible impact, this is exactly what I look for, so this is a very good proposal for auditing purposes in that sense.

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April 13, 2022

While it's not clear where the estimated TVL level estimates derive from, both those metrics, registered users, pool numbers and exchange launch would be easily tracked and audited.

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April 13, 2022

The team targets 2 million dollars of TVL in carbon market. They also will integrate oracle and DEXs within Cardano. The team has a very detailed plan and know what they are doing. The project aims for the financial system that is regenerative, resilient and decentralized that do not rely on drawback of legacy financial economy. I believe that the team will carry out this project successfully and the project can be audited well using the metrics like TVL, carbon price and pool indices to measure the project progress. This project enhances Cardano as environmental friendly blockchain with regenerative economy powered by DeFi.

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