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C3's permissionless bridge allows users to bring their carbon credits into Web3
The Carbon Bridge allows players in the VCM to give their carbon credits a presence on the blockchain and immediately integrate with the emerging ReFi ecosystem.
The bridge is permissionless (anyone use it) and is designed with ease-of-use in mind to ensure that all who wish to participate, can. The bridge is automated and API-enabled which removes human error and the need for complex processes to be followed. Through C3's trusted partners, those who do not have a Registry Account can quickly and easily access carbon credits to be used for bridging.
The tokenised carbon credits created by the bridge have a number of advantages over the existing Registry based system, including full transparency, programmability, fractionalization, and composability with the emerging ReFi ecosystem. This can solve some of the key issues outlined in Introducing C3.
The C3 Carbon Bridge is a one-way automated bridge at launch. It requires carbon credits to be retired for the purpose of bridging. It then takes the metadata of the retired carbon projects and brings them onto the blockchain. This ensures that no-double counting can occur, and all of the key characteristics of the carbon projects are transparently transcribed to the blockchain. Once the credits are on the blockchain, users can begin to interact with the Web3 ecosystem (e.g. KlimaDAO), or be traded in AMM Carbon Pools.
In order to bring carbon credits over the Carbon Bridge onto the C3 Registry, users will need access to two things:
- Access to carbon credits: this could be access to a Registry Account that enables the retirement of credits, or it may be done through one of our partners.
- A Polygon address: C3 is built on Polygon. Users will need a Polygon address to receive tokenised credits and some MATIC to pay for gas.