Coorest’s Vision for Carbon Neutrality and Social Responsibility

4 min readOct 26, 2021

Carbon neutrality by 2050: Is it possible to create a better future?

The carbon footprint is one of the most crucial environmental issues for the next generations. Every country, city, financial institution, and company should adopt plans for net-zero. Acting now means cutting global emissions by 45% in the next decade. That way we can achieve our goal and be carbon-neutral by 2050. It seems like we still have a long way to go.

How can you contribute to a better future?

The current market for trading carbon credits is inefficient and ineffective. It doesn’t prevent greenwashing, or double-counting. Also, small players like farmers keep a small portion of profits. We simply think that is not fair, as they are the most important element within the value chain in the carbon market.

The Coorest solution

Coorest offers a blockchain-based solution through a decentralized carbon compensation system. We have created an easy way for users to compensate for their carbon footprint. Anyone can purchase an NFTree, that is also backed by a real planted tree in our orchard. By introducing the CCO2 tokens, Coorest aims to disrupt the carbon market. Our goal is to cut out the middleman and transfer the profitability back to farmers and project owners.

That way, we will allow them to develop new sustainable projects. This is how we will keep the value within the Coorest ecosystem. Individuals, businesses and institutions can all take steps toward compensating for their CO2 emissions, and improving livelihoods.

Our concept is simple.

There is an NFTree available on the NFT marketplace for every tree we plant. As an NFTree holder, if you chose not to sell the $CCO2 tokens. Why not compensate for your emissions instead? After the platform registers the amount burned, you will immediately receive a Proof of carbon compensation. The PoCC is a digital certificate containing a record of the compensated amount and date of compensation in its metadata. The metadata record also contains the identity of the compensating person or business, as well as the reason for compensation.

Who can use our platform?

Everyone
Individuals who want to compensate for their carbon footprint, support green projects, or sell tokens
Institutions looking to compensate for their carbon footprint
Farmers who want to include their project to the Coorest ecosystem
Crypto enthusiasts who want to be a part of sustainable green projects

How companies deal with CO2 compensation

A large car manufacturer is looking for a massive amount of carbon emission compensation due to a large extension of their factories to produce more cars. This corporation calculated they need 200 tons of compensated carbon in a year’s schedule. They choose Coorest platform and place a buy order of $CCO2 tokens for the equivalent of 200 tons. Tree token holders see the buy order and participate in the CCO2 staking pool to sell their $CCO2 tokens. Once the staking pool is filled, the payments are settled via escrow smart contracts. The CCO2 tokens are then transferred to the buyer. Other participants are paid in $CRST. The corporation can compensate for its CO2 footprint by burning the tokens via the platform to get PoCC in return. In that case, they don’t need to compensate because they can sell the $CCO2 tokens to the platform at a discount. Users can buy back the $CCO2 tokens and proceed to sell.

$CRST Tokenomics

At the start of 2022, Coorest disclosed the $CRST tokenomics allocation.