Base Carbon Tonne Price(BCT)

Base Carbon Tonne, commonly known as BCT, is a digital token designed to bring carbon credits into the Web3 ecosystem. It was launched in late 2021 as a collaborative effort between the Toucan Protocol and KlimaDAO. The project aims to modernize the voluntary carbon market by using blockchain technology to increase transparency, liquidity, and accessibility for environmental assets. Each BCT token represents one metric tonne of carbon dioxide that has been avoided or removed from the atmosphere. These tokens are backed 1 to 1 by carbon credits from the Verra registry, specifically the Verified Carbon Unit or VCU standard. The project generally focuses on credits from 2008 or later to ensure a level of contemporary relevance. The process of creating BCT involves a mechanism called the Toucan Bridge. Users with traditional carbon credits in a legacy registry can bridge them onto the blockchain. During this transition, the original credits are retired in the traditional registry to prevent double counting, and an equivalent digital asset called a TCO2 token is minted on the Polygon network. To create a fungible and liquid asset, these project specific TCO2 tokens are deposited into a common pool called the Base Carbon Pool. In exchange, the depositor receives BCT tokens. BCT is an ERC-20 token, which allows it to be used as a building block in various decentralized applications. It serves as a core component of the Regenerative Finance or ReFi movement. Within this ecosystem, BCT can be used to back other green currencies, integrated into decentralized finance protocols, or held by organizations looking to manage their environmental impact. Users can also choose to retire BCT tokens on chain to officially offset their carbon footprint, providing a public and verifiable record of their climate action. The project was designed with permissive entry criteria to prioritize deep liquidity, which means it accepts a wide variety of project types. While this has made BCT a foundational asset in the digital carbon space, it has also led to discussions within the community regarding the specific quality and age of the underlying environmental projects. Over time, the governing protocols have introduced various updates and filters to refine the types of credits that can enter the pool, aiming to balance market depth with environmental integrity. Learn more

Looking to buy How to buy BCT? The process is simple and hassle-free! You can easily purchase BCT on LBank by following our step-by-step buying guide. We provide detailed instructions and video tutorials showing how to register on LBank and use various convenient payment options.

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