FtC x EC Hackathon | Workshop: Introducing Toucan Protocol (Oct 2024)

okay go ahead all right thank you very much um welcome to anyone who is uh listening in to this I'm gonna talk about the uh tuen side of the funing the commons hackathon which is uh happening all over the world as we speak um and also in in Thailand soon I'm very excited to be coming over there um thanks to fing the commons for organizing this amazing event that we're excited to be part of um so I'm just going to talk through um very quickly what our challenge is within the hackathon how we fit within the hackathon I'm going to give um a very quick intro to the the real world's problem relating to the climate crisis that we are trying to tackle at tuen um I'm going to talk about the prizes that we're offering as part of this hackathon everyone wants to know about the prizes of course and um I'm going to talk through some ideas uh for projects that could be worked on uh because at tuken we've done a lot of thinking about different ways of tackling the problem of the climate crisis through blockchain technology and uh so we have have a bunch of ideas that could serve as starting points for people and I'll I'll just give a bunch of um resources that you can use if you want to look into this more deeply and so everything I'm going to talk about is on this page that I'm sharing now and um that is linked from the main uh Dora hacks page which you can see here um so you can find a link to this page there uh but I can also ensure that this is uh shared out again in the um relevant telegram groups for the hackathon um okay so let's get started so I I'll dive in with the challenge statement first of all and then uh explain a bit about what it means so the challenge statement I'll just read it out propose the most novel use case or mechanism for creating new demand for carbon removal credits within web 3 focusing on utility and in incentivizing large scale adoption okay so that needs a bit of explanation so let's just take a a step back a bit first and uh because not everyone will know what you know Carbon removal credits or even carbon credits in general are um so I'm I'm not going to go kind of deep into the the role of um the voluntary carbon market and and blockchain and it's relevant to the relevance to The Climate Cris crisis uh because we've already had an excellent Workshop um from Marcus earlier in this um series of workshops for the hackathon uh so I've just linked to the slides for that previous Workshop there so if you want to kind of go a bit deeper into that topic then I would strongly recommend giving that a look first but I'll just briefly um reuse the the bathtub analogy which is this is a an old favorite in the space that um a lot of people use to explain the problem so essentially we have a bunch of emissions largely man-made of CO2 which are you know being emitted in the atmosphere and if you think of the atmosphere as a bathtub uh full of that that is filling up essentially with CO2 represented as water here um then we've got two tasks before us if we um want to avoid um global warming becoming manage unmanageably High um and so the one task is to reduce emissions which is just basically turning off the tap and um the other one is to remove uh remove water from the bathtub um or CO2 from the atmosphere and it's generally accepted that we need to do both um you know some people argue oh you know we should just reduce emissions rather than um uh relying on removals because if we rely on removals then that gives people an excuse to pollute the atmosphere more but actually um the science shows um and the data around uh human behavior as well both show that we have to do both so we're focusing on um on removals um for the purpos of this haathon and and uh that's tuken's uh main focus at the moment as well uh so the fundamental problem is we need to pay for the job of removing CO2 from the atmosphere and there there is a a sort of financial construct for doing that which is that um credits are issued uh every time or one credit is issued every time one ton of CO2 is removed from the at atmosphere in a verified way now verified is a a key word here and there's all kinds of complexity um involved in in verifying a carbon project is removing CO2 in you know a valid way which and there's all kinds of important properties around how that's done for example permanence you can't just remove CO2 from the atmosphere and then leak it back you know a short time later because that obviously defeats the point so um I'm not going to get into the complexities of all that again Marcus's primer on um previously given goes into that but we can also share plenty of resources if you want to learn more on that um and it is referred to in our documentation as well but let's just focus for now on the fact that you know one credit represents one ton of CO2 removed and uh the way it works from a financial perspective is that these projects around the world that are removing CO2 from the atmosphere um obviously need to get paid for their efforts and the way they do it essentially is by getting these credits issued and then selling these credits on carbon markets um and we believe at tuen that uh if you bring the onchain element to this by tokenizing credits we can scale up removal efforts and um yeah unlock all kinds of new use cases for carbon credits which haven't previously been there um and that's where the the hackathon comes in so very quick bit about tuken um first thing to note is that you can find a lot more about us uh on our well actually not just our documentation here but I should also put um if you just remove the docs Bo from the URL just tu. Earth of course you can that's our homepage and you can find out everything about tuon there uh so as I said we believe that when web 3 is a a great way to coordinate capital a global scale I think it's it's proven generally that it it can do that um in other contexts and we believe it needs to be done in this context as well and um what we are primarily doing uh like in if you had to summarize it in one sentence at the moment is that we are tokenizing these uh verified removal credits and then we're building onchain markets which um aren't just these kind of Monolithic um black boxes like some markets are but they're composable so you can obviously because they're on chain you can see everything that is happening you know they're governed by smart contracts and you can build all kinds of interesting stuff on top of them and on top of the the tokens involved um okay so tokenization uh this is the first part of that summary uh so how does it work well I I said the word verified and um that there's a bunch of complexity around how you verify carbon credits we're not doing that verification ourselves we are relying on reputable Registries carbon Registries to do that or to to coordinate that verification and issue the credits off chain uh so in the case of removal credits we have partnered with uh po BAU B.E is their website and they are a very prominent carbon removals registry and uh they provide credits from different uh removal projects around the world in particular biochar credits uh which I might briefly explain in a second um so you can see here on the left um we've got some biochar projects from different places around the world and they've produced credits uh of different vintages which means it's just like wine different different uh times of um the year or different different years produce different vintages um and within each vintage there's a batch of credits um that are verified and issued so all of this is uh on the left hand side is essentially um taken care of by the Puro regist and then uh we essentially tokenize these through through a bridge and um produce onchain tokens which we call t2s now these are erc20 fungible tokens so they should be very familiar to all Builders um there there are some details I mean the bridge is quite complex and there's some there's actually an nft uh minting stage involved before the tco2 is get um uh uh get minted but you don't necessarily need to know about that I mean just very briefly as part of the bridging process uh these Batch nfts get minted which have serial numbers in so you can map the whole tokenization process back to specific serial numbers uh from The Source registry which in this case is this PO but essentially it's just carbon credits in go into the bridge and uh erc20 tokens that we call t2s come out the other side um and by the way this is a two-way Bridge so you can actually DET toonize credits and go back the other way as well although um that might not be so relevant for this hackathon but if you can think of ideas involving detken then great um and so I'll just note that the other thing here uh is that the there's a tco2 token an erc20 token contract for each project vintage so you see here project a has tco2 has its own tco2 token and similarly for Project B and project C they have the corresponding onchain tokens okay so that's the bridge that we've built at tuen um and then on top of the bridge there's one more mechanism that is worth you knowing about and that's a pooling mechanism so tco2 tokens as I said at ESC 20s but they are low liquidity um the you know the the supply of each tco2 is relatively low so you can't build uh kind of a liquid market around a single tco2 token so to solve that problem we create these things called carbon pools uh which is just essentially a basket of different tco2 so you can see you can deposit a tco2 into the pool for every ton of tco2 you deposit you get one ton of the um of the carbon uh pool token here so that's why it says one to one here um and so that groups them all together and then this pool essentially becomes a portfolio of the dis different t2s and from that we can create a more liquid market for carbon removals which in itself is is quite a useful thing because you get much better price Discovery and you know Carbon removals suddenly become instantly accessible to anyone who wants to to play in the world of defi so that becomes a a fundamental building block in in the defi space and by the way you can think of this as another form of real world asset people are talking quite a lot about real world assets these days and um you know tokenized Carbon was arguably one of the the first forms of real world asset around uh before the others started Emer merging okay so let's get to the the bits that people will be excited about maybe um so first off we're offering this Innovation Bounty and this is very much along the lines well it's it's basically identical um to the um the the the challenge the lines of the challenge offered by by clma um so you can uh you know more than 2K just by focusing on on this alone um if you combine prizes from uh from us and CA together and as I said this is essentially the the challenge statement um from the beginning it's about implementing Innovative mechanisms for creating or facilitating new demand for carbon removal credits on chain um and obviously since we're tuen um we would like you to do this with the uh Puro tco2 tokens and the we we don't want this to be like a oneoff thing uh we we want people to think about building sustainable uh onchain markets or mechanisms that are going to be there for the long term and that can really scale up um so you know start small and grow the demand for um these tokens over time and remember what's the point of of growing demand for these tokens it's because the uh the the financing of those tokens goes back to the original carbon projects which are literally removing CO2 from the atmosphere so by creating demand here you are literally funding positive climate action to remove CO2 from the atmosphere and that that is the end goal of all of this so uh what do you need to do to be eligible for these prices is very straightforward of course we want you to use our protocol um you must show an ability to increase demand for the tokens and have some plan for how to scale up um you know if it as I said if it's just a oneoff then it's not going to be uh nearly as compelling as something that can last for the long term uh so yeah sustainability is the name of the game and so in addition to that uh 2K uh Innovation bounty we offer a uh it's almost like a compensation model as well so um one thing I haven't talked about is retirement and this is a concept um that applies to carbon credits in general in the voluntary carbon market and the idea here is that it's not enough to buy a token to say that you've contributed to positive climate action because you could buy it say that and then sell it on and it hasn't costed you anything you haven't really funded the climate action yourself um and yeah now the credit is is in someone else's hands so the way it works to make this um a robust mechanism is that if you want to claim the positive environmental impact of these credits then you have to mark them as retired which is essentially pretty much the same as as burning tokens um the the main difference is that when you burn or retire the tokens when when you retire them uh you get a certificate with some metadata that says I claim this environmental impact for myself or for some other party that I'm retiring on behalf of and here's the reason why I retired these credits so might be that you want to C to balance some emissions from you know some travel you made maybe some flights to Devcon for example um or maybe you know you're a large organization and you have a large carbon footprint and you want to um you know after reducing as much of your carbon footprint as as you you can practically there's still some emissions left over and you want to counterbalance those by um buying carbon credits and retiring them so the retirement mechanism is is key here and I I will go into that in a bit more detail um in in a bit uh but just to finish the details of this bounty so this is you know the more you can retire through the protocol uh the more you can win uh but this is not about retiring yourself this is about inducing new demand and getting other people to retire through whatever you build so it's the same criteria as the the 2K bantey above but the retirements must be linked to the hack um obviously it you know has to be related to that and uh the retirements need to come from a third party so you need to find some demand somewhere for retirements and demand does exist out there but um the ideas I'm going to go through um will hopefully uh help unlock new demand okay so getting on to the ideas I'm not going to go there's quite a lot here and I don't think I've got time to go through everything but you can you can read through this document in your own time and get in touch if you have any questions about this stuff um but I've I've grouped them into the these six high level categories of of idea and the first five are really oriented around base motivating factors for like why would people demand uh uh create create demand or like have demand for carbon credits and and retirement and it really comes down to fundamental you know human behavior and what motivates humans so we all know that Financial opportunity is a great motivator especially in crypto so um that's the one I'll go into first but then I'll talk about these these other ones um so if a mechanism can be designed which offers people organizations some kind of benefit and there's climate action involved um then we've found that you know that's a really compelling way of getting people to take climate action they're making money and they're helping the planet alongside uh what's not to likee and you know Financial opportunity if you've spent any time in the uh crypto space you'll be aware of all kinds of different uh Financial opportunities that people are experimenting with so it's a question of seeing if we can combine some of those with climate action so uh there's a couple of ideas here um I don't think I'll go into the second one too much but the first one is actually a continuation of what happened at the last Devcon in Bogota um and it was it was pretty cool what happened um and it was almost incredibly cool what happened but we ran out of time and since then we haven't had a chance to to resurrect this project until now so and we we have more time this time I mean admittedly Devcon is pretty close but um the idea here um and then I'll explain the timing the idea is encourage people who are traveling to Devcon um to counterbalance the the footprint of their the emissions from their their flights and uh critically we wanted to we figured it wasn't enough to just say please offset your flights I mean that happened and some people did which was great I think we had about um a 4% uptake um which is which matches you know roughly what you see globally uh in terms of you know how many people offset flights um but we wanted to test whether by offering extra perks for doing it would be enough to to get more people offsetting their flights and the idea that we came up with very late in the day it was actually only on I think it was we were already Beyond halfway through Devcon at that point was well how about we can offer the perks of VIP lunch Lanes so that you know you can get your food at lunch at Devcon a lot quicker because you know there's thousands of people there and normally you have to wait in qes which is a bit annoying um so and we we managed to collaborate with the con team who very kindly uh set up a VIP lunch Lane for anyone who had a PO app that proved that they had used um tuen and specifically this project called disc carbon to to offset their flights so disc carbon is an app that lets you basically figure out you know what were the emissions of your flight to Devcon um and and then make it easy to off offset that through defi just you know connect your wallet pay pay a bit of stable coins and buy some tokens and retire them and then you get the pup to prove that you've done all that um so yeah with basically within 24 hours last Devcon of having the idea to do that we managed to get it up and running because we already had all the tech there and um so for the final Friday I think it was um we had this VIP lunch Lane and we had quite a lot of people through it um which was cool but you know we should have run it for the whole week and even for the registration cues that beginning which are often the worst you know sometimes um Devcon registration can take quite a long time so the idea is basically to resurrect this this project uh and the code already exists and it just be a question of bringing it up to date and then working with the Devcon team and you know doing all the kind of viral marketing and whatever you can to get people to offset their flight um or the Devcon attendees um but there's there's potential for building extra Tech on top um you know we could have leaderboards to see like who's offset the most you could group it by Community say you know which of all the people attending Devcon you know which layer 2 or um which Dow has made the most contributions or whatever and you could gamify it there's lots of um potential there um so I can you know give more details about that for anyone who's interested but I I think that would be really um fun and um revealing experiment to run to see whether perks offered for um counter balancing your your carbon emissions um can have an impact and get people more involved um so this one is uh quite a crazy new idea um and I don't know if anyone has seen the uh there's a there's a website called I think 1 million pixels um that was just built by one guy for fun and he um it's essentially like a global whiteboard uh of pixels that can be just black or white and you just go to the website and it's just like a million oh sorry it's a million checkboxes one one million check boxes I think it's called and uh you go to the web page and there's yeah a million checkboxes and you can just toggle them on or off and he just built it kind of as a for fun as a joke um but then people figured out a way of actually drawing art on these checkboxes at scale and it became into it came into a whole thing and um people realized oh this is actually essentially a global whiteboard which could be used for you know anything um and with with obviously a meme type component uh so the idea here is that uh you could do a a version of that but um to some extent monetize it um you know have some tokenomics behind purchasing pixels maybe you have some free pixels maybe some are purchasable um for commercial reasons you know mix of the two and it it's like a novel form of advertising essentially um and um and the the monetization drives climate action through through the tuen the various tuen tokens um so there's a whole bunch more details on that and I actually have to fix um this link at the moment it's accidentally private only so if you click on that at the moment it doesn't actually work but I will fix that um after the workshop and you can uh look at you'll be able to see more details about that if you're interested okay uh so let's move on to um virtue signaling and and branding so away from Financial opportunity um people and organizations um are interested in taking action that they believe is the right action to take and then you know sharing that they've done that with the rest of the world um obviously you know if you believe you've done something good then you can uh benefit from uh telling other people about it especially as an or organization um and if you're you know competing with other organizations in your space and you want to show that you're more green than the competition then this is a good way of doing it um so this is a kind of high level idea um without going into real specifics but you know there's a lot of potential for gamification here and leaderboards or some kinds of you know ways of uh measuring climate impact through uh measurement of you know retirement of these tokens um gives opport unities for U gamification where you can see you know who's taking the most climate action um and how how is the competition doing and so on and I want to draw a parallel here actually maybe I'll just open it up and um just show you so uh the protocol Guild this is nothing to do with climate action whatsoever but it's a really nice example of um how public goods can be funded and there is kind of an element of gamification here so essentially the protocol Guild is about um raising funds for development of the core the ethereum core infrastructure at the protocol level and so there's a bunch of you know Engineers developers around the world who are working on that and they need to be funded for it and the desire is to to to fund this work in a more decentralized way so you have all these organizations and individuals that have pledged um to um donate certain amounts of their own token supply for example here but then we've also got donations in stable coins and you can see here's a donor leaderboard this is um this is actually a mixture of organizations and individuals um I see we've got Anthony suzano at number 19 which is super cool very impressive donations uh you can see donations by Chain so this is you know almost like different different chains competing to see who can contribute the most and so this obviously makes you know arbitrum look great here because um and and optimism like look how much they're contributing and same for the others um and so you can see here more about donations and individual donations and so on so it it's kind of a bit gamified um it you know it's obviously not a game but leaderboards are one interesting thing to think about here and I think the point is that the same could be done for climate action on chain right or something similar so hopefully that gives Food For Thought um and then that that kind of leads on to uh the next one which is sense of community and uh you saw it there to some extent that you have organizations appearing on the leaderboard now okay th those you know pledges and donations from Big Dows like arbitr and optimism um those are probably uh driven the decisions to contribute in that way are probably driven at the Dow level rather than at the individual level but you could also have you know individual Dow members all contributing to climate action and then some mechanism that um collates all of that data and says well everyone within this D now has you know retired this amount of of carbon credits therefore the total climate action of this Dow or this community is this much and now let's compare it to this other community in a similar space and you know see who is the most green so that's essentially what this um idea is it's about using the tribal instincts of people um that and we know let's face it web 3 is an incredibly tribal space so you know tribality if that is a word is a really powerful force that shouldn't be underestimated so imagine if you get layer 2os competing with each other to be the most green or defi protocols or Dows or countries or cities or even Devcon side events you know you could have a leaderboard where uh the tracks uh all retirements relating you know on behalf of Devcon side events and like maybe each side event has a hashtag and you track like each each retirement you know has a hashtag of a side event in it and then you you Cate the results and show them and see which which uh side events are the most green so combination of gamification and this um harnessing this uh these tribal instincts and the this sense of community is essentially the idea there um then the there is just like people who just want to do the right thing just because they feel good about doing it and they don't need to tell anyone else about it and um so there's not really kind of any external communication that needs to be facilitated in this respect it's just about making it easier for them personally to take positive climate action and there is a really cool idea here um and actually it's more than an idea it's it's an existing dormant project um which was um started actually by um the the one and only James Farrell um magnificent human being who uh used to be on the tuken team and is instrumental in fing the uh Commons and um yeah this is a great idea and it's just a question of you know look finding someone with the time and energy um to to pick it up and um uh start working on it and get it get it working so the idea here is scan Gmail scan Gmail accounts automatically for flight confirmations um let's face it a lot of people use Gmail a lot of Gmail users fly places and if you could just press one button and it just scans and figures out where you've flown calculates the carbon footprint of all of those and then says right if you you know buy this many credits then you'll counterbalance those emissions and you can uh you know feel really good that you've you've removed the CO2 that you or you've helped remove the CO2 that you you put in the atmosphere um then yeah that's just making the whole process easier and uh so this there's a link here to GitHub the project exists you know there's a bunch of code a few people have uh worked on it and it just needs uh resurrecting essentially so that's a really interesting one uh now finally of all the six motivating factors that I've been talking about is this one around regulation and politics and this is a bit of a tricky one honestly um and I I'm not sure if it applies for this hackathon but if you can think of ways that it would apply then great but it essential idea is that in web 3 we have a bit of a reputational problem in the wider you know World generally um that a lot of people don't understand web 3 they don't understand crypto they don't see the good in it and all they see is the negative news that dominates the mainstream media Cycles whenever they cover crypto which is you know things like FTX and this scam and that scam and and so on um and obviously in you know we in this space know that that there so many Fantastic things about what the space brings but um politically we're not in a good place and you know we see um huge resistance from uh us Regulators for example against the crypto industry and so on and so if we as as you know the web three space can and show that we're engaging in positive climate action um then it can help change that narrative potentially and politicians can start realizing oh wait a second this crypto thing can actually be used for good it's not just you know a bunch of scammers kind of trying to make a quick buck so that's the general idea there um but as I said it may not be so relevant for this hackathon and finally so you know I've talked about these six um sort of motivating factors which are quite intrinsic to human behavior um but the final one is building infrastructure that can facilitate any of these other six and there are three ideas here of of things specific things that could um be worked on that are things that essentially you know we at too can want to work on anyway but there's only much we can do at one time and if other people are interested in in helping out with these then this could be quite powerful uh so what what is the infrastructure work that could be done well and by the way I'm sure there's there's plenty of other stuff you know you could for example work on just leaderboards alone would be um an interesting infrastructure play but uh the first one is that we have this smart contract called the offset helper um needs to be renamed to be honest don't get too hung up on the name but um it it essentially makes it really easy to retire credits on chain and the the key value ad that it has is that you can pay for retirements with any token and it will just automatically uh swap your the tokens that you put in it will just put them through a deck swap them to the tuen credits and then do a a retirement and it's all done in one go and it it just you know from a uh an onchain developer perspective it makes that whole process simpler by bundling it up into one transaction but the thing is that was written quite a while ago and uh we haven't yet added support for Char which is our um liquid pool token for onchain carbon removals and by the way I've just realized I forgot to talk about um biochar which is the form of REM that we're we're focused on at the moment um and I do have sorry this is completely out out of sequence but just as a quick diversion um I've got a nice diagram here of this six common types of carbon dioxide removals that are out there uh everyone knows the one relating to trees a forestation and reforestation that's the first thing everyone thinks of in the carbon space uh but then there's there's five others listed here and I'm sure this is not a complete list but specifically biochar is the one that our Char pool is um focused on so that basically we is we are tokenizing biochar credits from Puro um and combining them into this pool which and the pool token is called Char and what is biochar it's when you take biomass um could be from trees or from crops or um you know organic material and you partially burn that in the absence of oxygen so rather than the burning releasing CO2 it's actually locking it into the um into the uh byproducts of the process and so charcoal is is a form of biochar that everyone is aware of but um yeah you essentially end up with this this product which actually it it's not something you then just Berry but it has its own use it turns out that biochar is incredibly useful in agriculture you can put it on soil and it helps in all kinds of ways so it's it's useful in itself um as well as just being a way of locking CO2 into the Earth and this has um excellent bioch has excellent permanence um so you can um basically guarantee that you've locked CO2 into the soil or into the ground um or whereever you put it for you know a thousand years or more um and it's it's a very um yeah reliable form of removal and if you contrast that with you know I mean trees are great everyone loves trees definitely don't want to take away from um the potential of trees for carbon removal but you do have a bunch of risks with trees you know you could just have a forest fire for instance or you could just have you know some group comes along and does a bunch of illegal logging and you know um and then all of a sudden those those trees are gone so the permanence side is difficult so uh this is why we think biochar is really interesting and there is a a growing a young but growing market for it so sorry about that misplaced aside but I thought it'd be worth covering quickly um so back to the offset helper as I said it currently only works with some older tokens uh NCT and BCT and doesn't support chart and so this would be a pretty probably a pretty easy thing to do and very valuable um to have support there um yeah and any would additionally be eligible for our you know the the 20K um per ton Bounty so that any any uh Char that you manage to retire through the offset helper would be eligible for that so then the next one is uh more complex and quite interesting is that um until now I I've just talked about retirement as something that you you know you just take um a certain number of of tokens of tco2 tokens and you retire them and you you claim the environmental impact and that's a simple process but I haven't what I haven't mentioned is that with uh the Puro t2s because uh the Puro registry and actually Registries in general only allow retiring in whole ton amounts that's quite a limiting factor in the case of biochar because um biochar is is one of the more expensive um types of carbon credit removals in general are uh more expensive than um avoidance credits and so a typical price uh for a ton of biochar is you know I mean it varies obviously as the market varies but at the moment it's I think around 160 or so um could be you know 150 170 whatever but in that ballpark and the point is that you know even if you want to retire one ton that's already you know more than some retail customers would be willing to pay um for a credit and uh if you take the um case of a short all flight it you know is quite likely less than um one ton of CO2 emissions it's you probably more in in the measured in kilograms than than tons so to address this problem we've built a new mechanism and it is in the early stages but it's a fractional retirement mechanism and um mallis who's on the call uh deserves a huge amount of credit for all the work he's done on this um it's yeah we're pretty excited about it um but this is actually probably the first time that we're talking about it in public I think um so the idea here is that um as it sounds like instead of you know having to retire whole tons one at a time you can retire fractions of a ton and suddenly that you know that arguably is is maybe the first time that um it's been possible for anyone to retire carbon removal or fractions of carbon removals um and by anyone I mean literally anyone who's you know willing to or anyone in web 3 who's willing to you know set up a wallet and and learn how to do it um so as I've written here this C could unlock countless new retail oriented use cases you know traditionally the use cases for carbon credits has been much more at the organizational level like large companies who want to you know they have um an ESG policy and they want to um make sure that as as an organization they are taking climate action in an appropriate way but obviously you know a large organization is going to have a large budget but what about just individuals who want to do the right thing um like offsetting flights and so on and uh I think this is one of the areas that for me is is quite interesting when you combine climate action with web 3 and cryptocurrency and um and smart contracts is that you can build new mechanisms that that give normal people um I mean is it right to call us in the web3 space normal you know we're still slightly ahead of the curve um everyone talks about web 3 bubble but you know obviously our goal is for web 3 to be something eventually that is used by everyone just in the same way that you know the were early users of the web back in the 90s and then and now these days everyone uses it without thinking about it so if everyone's going to be on chain in the future and if we can provide um you know retail mechanisms for for carbon credits then that could be really interesting um and this is only possible with this fractional retirement mechanism so so um the let's see how we're doing for time I think I I I don't yeah I think I'll I'll skip diving kind of deep into the mechanism of fractional retirements because it is linked here this is a link to new documentation we have on it um but I'm very happy to um to you know answer questions from anyone who wants to learn more about that um it's we've just deployed it to Bas of so it's not even on our other test Nets yet but you know that should be coming soon and we can have it on on Main net um I mean if somebody is is working on this during the hackathon then we can accelerate that um and make sure it's it's available for people who need it um but this yeah it's it's a really interesting mechanism um and finally yeah this is so if there's anyone out there who has a solidity background and maybe a mathematical background and wants some kind of more juicy um technical challenge then this portfolio retirements idea is a really interesting one and I won't go into that now either but you can read it there and if this piques your interest then get in touch and we can give you more details um okay so wrapping it up essential info you probably know this already uh you know I'm sure you found the dorah Hax page as I said our documentation covers everything hopefully well and if it doesn't then get in touch and ask us questions uh our app is here so you can use that um for you know quickly playing around with the protocol uh you can get on the test Nets in the app you just have to click a check box at the top right and it'll give you um access to switch to those and if you need test tokens we do have a foret but unfortunately it's it's not in the greatest shape at the moment so it's probably easier if you just get in touch and say hey send me some test tokens um yeah and and speaking of that how do you get in touch with us um well you can reach us on the um funding the commons telegram groups um you know if you at mention me or mallis um get our mention there or you can also join the tcen Discord if you're not already in it and we monitor that as well um so hopefully those are enough ways to to get in touch and uh yeah we look forward to to hearing from you um now I see we actually have had a couple of people join so if there are any questions um of any nature at all I'd be happy to take those now um let me just check the chat okay no questions um otherwise Adam for hosting I actually do have a question um there are many different bounties of the hackaton we have obviously tracks by Stellar near astral and many more so I'm wondering do you have you thought maybe about you know like different ways uh to and Innovation could be connected with any of those and would you encourage Builders to explore those connections a little bit oh I love that question um I I would definitely encourage Builders to explore for that um I have to admit I haven't thought about it in depth myself I have looked at the other challenge tracks um I know let's see if I open up the page maybe see if anything immediately Springs to mind um so we got Financial inclusion decentralized a decentralized storage well so decentralized storage I mean filecoin are very good friends of ours and um we have uh collaborated with them a bit and you know talked a lot about the role of decentralized data in the climate space um and I I think there is huge potential here but it's still very early days and um essentially the idea is that remember like at the beginning of the talk I talked about verified carbon credits and the importance of the word verified in that is that you know it hides a myriad of complexity around how do you verify carbon credits how do you make sure that they represent real positive climate action you know whether it's removals or something else um and that verification process relies extremely heavily on data right and that there's far more data in that process than could ever be put on chain or at least not on on the chains that we're used to at the moment um and this is where you know storing that data uh on Public decentralized Storage where it can be viewed and analyzed and verified by anyone is obviously a better um world to to live in rather than just trusting certain centralized entities to do the verification and then hope that they do a good job of it and indeed we have unfortunately seen cases in the carbon space where you know validation and verification bodies have they've verified things according to the methodologies but then they've missed details maybe around how like the carbon project actually has a negative impact on local communities um or that the data hasn't been collected in the right way or it hasn't been analyzed in the right way or there's been assumptions that have gone wrong or whatever so decentralizing that and uh democratizing it and you know exposing that whole process to um more transparent scrutiny is really important um there's I would love to be able to say that we've done more in that space so far but the essential problem is that like that's that's on that that whole Space is on the supply side of carbon credits and at the moment we're more concerned about demand because if you know if there's not enough demand then you've got all this great Supply that has nowhere to go and there's no funding for it and you know we need the funding to to grow the supply side but funding has to come from the demand side which is why you know our hackathon challenges is focused more on the demand side for now but I I do see tremendous potential uh by marrying these Technologies together so that's one answer um public goods funding infrastructure in general I mean of course this is you know climate action you know it's a public goods funding is is absolutely needed for all kinds of climate action um identity and privacy is you know critical to any mechanism that involves multiple players so I think there's potential there and the same for governance and so yeah I mean I I think there's a lot of there's a ton of synergies across all of these um even Financial inclusion you know you have small carbon projects in uh you know um developing countries um that that need you know they then maybe don't have access to traditional banking infrastructure and so on and um they need that support so yeah I think there's a lot of synergies I you know apologize for not having thought about that more in advance um but happy to ideate with anyone who who you know wants wants to talk about potential synergies we we're happy to support that's a great question thanks for that thank you so much again for hosting Adam I think there's a lot of great inspiration here and I saw in our Discord that there's some Builders building the climate track and I think that there's also a build sub minute uh around it already so yeah super excited to seeing what everyone builds awesome yeah thanks so much um to you and the team for organizing this amazing event and uh excited to see the results perfect thank you so much have a good day all right thanks bye