What Is Carbonic?
Carbonic Coin is an algorithmic stablecoin protocol bringing sustainability to the Polygon ecosystem through carbon-backed treasury reserves. Inspired by Tomb Finance, the protocol uses seigniorage mechanisms to ensure price stability and to enable bonding $BCT carbon credits, locking carbon in its carbon reserve in liquidity with $CO2.
By pegging the protocol to the price of $BCT, they can algorithmically represent the value of more tonnes of carbon removed from the environment with an elastic supply of $CO2. This representation can also generate yield opportunities with seigniorage.
Carbonic Coin Storage Key Points
| Coin Basic | Information |
|---|---|
| Coin Name | Carbonic Coin |
| Short Name | CO2 |
| Circulating Supply | |
| Total Supply | 50,000,000,000 |
| Source Code | Click Here To View Source Code |
| Explorers | Click Here To View Explorers |
| Twitter Page | Click Here To Visit Twitter Group |
| Whitepaper | Click Here To View |
| Support | 24/7 |
| Official Project Website | Click Here To Visit Project Website |
CARBON, REIMAGINED
Carbonic is an algorithmic stablecoin protocol bringing sustainability to the Polygon ecosystem through carbon-backed treasury reserves. Inspired by Tomb Finance, the protocol uses seigniorage mechanisms to ensure price stability and to enable bonding $BCT carbon credits, permanently locking carbon in its carbon reserve.
Algorithmically representing Carbon Tonnes.
Toucan Protocol’s Base Carbon Tonnes ($BCT) are the tokenized version of Verified Carbon Units (VCUs), which are issued to projects that help the environment.
1 $BCT token references one ton of carbon removed from the environment as a fungible ERC-20 token. Carbonic Coin credits can be bridged on-chain to the Polygon Blockchain using Toucan Protocol’s bridge by retiring VCU carbon credits. They are redeemed as $BCT tokens on the blockchain.
By pegging the protocol to the price of $BCT, Algorithmically represent the value of more tonnes of carbon removed from the environment with an elastic supply of $CO2. This representation can also generate yield opportunities with seigniorage.
Protocol Mechanics
Carbonic tokens are a representation of the price of one $BCT, which furthermore is a reference of one tonne of carbon. By providing CO2 and BCT liquidity on Sushiswap, users can earn yield on the protocol by staking the SLP tokens to earn seigniorage shares, $SCO2.
Yield-farmed $SCO2 can then be staked in the Boardroom. The boardroom expands the supply of $CO2 by giving out new $CO2 tokens to https://wootfi.com/krome/ seigniorage shares stakers every epoch (6 hours).
Finance Protocol
Carbonic Coin Shares are one of the ways to measure the value of the Finance Protocol and shareholder trust in its ability to maintain CO2 close to peg. During epoch expansions the protocol mints CO2 and distributes it proportionally to all Share holders who have staked their tokens in the Boardroom.
Carbonic Share holders have voting rights (governance) on proposals to improve the protocol and future use cases within the Carbonic Finance ecosystem.
Native Autocompounder
Carbonic Finance will have its own native autocompounder, by using this mechanism you will be able to get better returns on your investment while also helping the protocol’s health. They will achieve this by sending the usual performance fee (5%) to the Treasury and using it to BBB (buy back and burn) CO2.
Token
Carbonic Share (SCO2) main job is to help incentivize changes in CO2 supply during an epoch contraction period. When the TWAP (Time Weighted Average Price) of CO2 falls below 1 BCT, Carbonic Shares are issued and can be bought with CO2 at the current price. Exchanging CO2 for Carbonic Share burns CO2 tokens, taking them out of circulation (deflation) and helping to get the price back up to 1 BCT.
Carbonic Coin Shares can be redeemed for CO2 when the price is above peg in the future, plus an extra incentive for the longer they are held above peg. This amounts to inflation and sell pressure for CO2 when it is above peg, helping to push it back toward 1 BCT.
