The Carrot Token (CRRT)
The Carrot token (CRRT) is foremost a fungible token that represents CO2 removed from the atmosphere. However, its fungibility-agnostic nature enables it to also manage a decentralized minting permission system through NFTs, providing essential scalability to the system. Key features and functions of the Carrot token include:
Representation of carbon removal: Each Carrot token represents a ton of CO2 removed by a specific project, endorsed by a specific endorser. The metadata associated with each token provides immutable information on the associated CDR project qualities, Endorser, and removal process.
Grading system: Carrot tokens are classified into different grades based on the persistence of the carbon removal they represent. This grading system enables price stratification.
Minting and supply control: Projects can mint Carrot tokens thanks to a Project NFT. Endorsers mint Project NFTs, thanks to an Endorser NFT, with a specific name, grade, and minting rate limitation. The Tracer DAO mints Endorser NFTs with each unique name. This multi layered schema ensures a scalable, controlled and transparent issuance.
Utility and tradability: Carrot tokens can be bought, sold, and traded on various platforms, including decentralized exchanges (DEXs) and carbon markets. They may also be used for offsetting purposes when retired to demonstrate the attribution of a specific amount of CO2 removal.
Contribution to Tracer DAO: A small percentage (e.g., 2%) of minted Carrot tokens are automatically transferred to the Tracer DAO treasury, sold on the market to buy Tracer tokens. The automatic burning of these Tracer tokens aligns the interests of remaining Tracer token holders with the overall success of the ecosystem.
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