For too long, harmful practices have freely continued while our economic system fails to incentivize the necessary change. Carbon markets attempt to address this misalignment, but in their current structure are falling short.
By improving infrastructure for environmental assets in Web3, we help to solve key market issues: fragmentation, inefficiency, a lack of uniform data, and limited access.
Further, programmable carbon empowers builders and innovators to integrate climate finance into the very fabric of economic transactions.
Together, we can create new systems that are regenerative by design ♻️
The ideation for Toucan dates back to early 2020, when we hacked together CO2ken, a prototype climate action system for Ethereum. We went on to win the carbon footprint track in the Blockchain for Social Impact Incubator and then spent nine months at Deep Science Ventures. The Toucan core team also participated in KERNEL Block 3.
After extensive development and iteration, Toucan launched in October 2021 as the infrastructure provider behind Base Carbon Tonne (BCT), our first carbon reference token. This was released with our launch partner, KlimaDAO, the first platform to build on Toucan’s Web3 carbon market technology.
In the first month of launch, BCT achieved $2B in trading volume — about double the voluntary carbon market’s volume for the entire year of 2021. Further, over 150,000 tokenized credits were retired (via on-chain token burning) in the two months following launch.
The journey from ideation to today has only been possible with the help of an incredible network of partners and contributors. To you all, we’re grateful.
Looking ahead, the climate crisis needs swift and high-impact action now. We cannot delay.
At Toucan, we’ve made one step in the marathon that lies ahead. We’re only getting started 🚀
Learn more: Introducing Toucan →
Despite the scale of the climate crisis at hand, we’re a team of optimists*.* Banding together from around the world, we’re united by a shared vision for establishing a regenerative planet.