The problem ZeroCarbon solves

As per the Paris Agreement of 2015 - to prevent a climate catastrophe, we need to reach net zero by 2050. That is only possible if all of us do our part. A carbon-free planet starts with a way to get carbon-free energy, followed by carbon-free industries and all the way up to Web3 and crypto. For doing our part in the community, we built ZeroCarbon DAO.

ZeroCarbon DAO enables you to invest in Carbon Index with the goal to reduce carbon emissions worldwide.

Along with investing any amount of Carbon Index, you can also check your on-chain carbon emissions to date and offset them using MATIC in just two clicks!

The interesting bit is you can offset the carbon of other chains as well, using MATIC. Every Carbon Index holder gets a soulbound NFT to prove their carbon negativity. The NFT is also dynamic, which means that its metadata is updated transparently with every new transaction. In the future, the NFT can be used for token-gated resources that are intended only for carbon-negative addresses.

The system mints CI tokens and ZeroCarbon NFTs in exchange for MATIC. This means that when someone wants to purchase CI tokens, they can do so by providing MATIC as payment. When CI tokens and NFTs are minted, the system also buys index assets from the pools according to their weights. This means that the underlying assets in the Carbon Index are regularly adjusted to ensure that they align with the predefined weights. The assets and any surplus MATIC that remains after the purchase are maintained in a multi-sig treasury wallet, also known as the Carbon Sink. This is a secure wallet that holds the assets and surplus MATIC on behalf of the community.

And of course, through our transparent governance, you can help the DAO figure out the right set of projects - both on-chain and in the real world, for the Index to invest in.

Challenges we ran into

Setting up the index contract on Mumbai testnet was tricky because the pairs that we were buying carbon credits from were only available on the mainnet, so we had to figure out a workaround. We used Thirdweb to generate some of our contracts but that also became messy at some point so we had to do eventually do things from the ground up.