/demo-carbon-credits

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Tokenized-Carbon Credit Marketplace (on Polygon/Matic)

【Demo Video】

【Introduction of the Tokenized-Carbon Credit Marketplace (on Polygon/Matic)】

  • This is a smart contract and dApp that is the Tokenized-Carbon Credit Marketplace which allow to be able to claim, audit, buy/sell carbon credits in a single platform. (for incentivize and accelerating the CO2 emission reduction)
    • By that whole process is executed on this platform, it is able to keep transparency and traceability .
    • The Carbon Credit Tokens (CCTs) are used for representing amount of carbon credits. (The Carbon Credit Tokens is created as ERC20 token)
    • Green NFT is used for a proof of audit of CO2 reductions for a project
    • This smart contract is deployed on Polygon (previously Matic Network ) in order to save cost of transaction and realize faster transactions.

 

【Workflow】

  • ① A project owner (e.g. organizations, corporations, etc...) register themself on this dApp.

  • ② A auditor (e.g. the institutions to issue carbon credit) is registered on this dApp.

    • Only admin (deployer of smart contracts) can register a auditor.

  • ③ A project owner claim CO2 reductions to a auditor.

  • ④ Auditor audit (=approve) a claim from a project owner.

    • Once a claim is audited, the Green NFT and the Carbon Credit Tokens (CCTs) are given (=charged) into a project owner's wallet.
    • A Green NFT represents a proof of audit of CO2 reductions for a project that is claimed.
    • Given-Carbon Credit Tokens (CCTs) are same amount with audited-amount of CO2 reductions.

  • ⑤ A project owner put a Green NFT (=proof of audit) and the Carbon Credit Tokens (CCTs) on sale.

  • ⑥ A buyer can buy the Carbon Credit Tokens (CCTs) based on GreenNFT in the carbon credit marketplace.

    • Once buying process is successful, CCTs that are bought by a buyer will be transferred into a buyer's wallet. (※ At that time, a Green NFT is not transferred. A Green NFT is kept in the project owner's wallet as a proof of audit)
    • That buyer can sell CCTs bought in the marketplace as secondary sales.
    • Price rate of the Carbon Credit Tokens (CCTs) is 1 CCT = 1 MATIC

【Diagram】Tokenized-Carbon Credit Marketplace (on Polygon_Matic)


【Versions】

  • Versions are following below:
    • Solidity (Solc): v0.6.12
    • Truffle: v5.1.60
    • web3.js: v1.2.9
    • openzeppelin-solidity: v3.4.1
    • ganache-cli: v6.9.1 (ganache-core: 2.10.2)
    • Node.js: v11.15.0

 

【Setup】

Setup private network by using Ganache-CLI

  1. Download Ganache-CLI from link below
    https://www.trufflesuite.com/ganache

  2. Execute Ganache

$ ganache-cli -d

※ -d option is the option in order to be able to use same address on Ganache-CLI every time.

 

Setup wallet by using Metamask

  1. Add MetaMask to browser (Chrome or FireFox or Opera or Brave)
    https://metamask.io/

  2. Adjust appropriate newwork below (In case of deploying smart contract on local)

http://127.0.0.1:8545
  1. Adjust appropriate newwork below (In case of deploying smart contract on Polygon's Mumbai testnet)
https://rpc-mumbai.maticvigil.com/

(More configuration detail is here: https://docs.matic.network/docs/develop/metamask/config-matic/ )

Screen Shot 2021-04-18 at 13 20 46

 

Setup backend

  • In case of deploying smart contracts on local
$ npm run migrate:local

 

  • In case of deploying smart contract on Matic's Mumbai testnet
$ npm run migrate:polygon_testnet

 


Setup frontend

  1. NPM modules install
$ cd frontend
$ npm install
  1. Execute command below in root directory.
$ npm run start
  1. Access to browser by using link
http://127.0.0.1:3000

 

【References】