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Taking Climate Action, Now at the Base

Taking Climate Action, Now at the Base

Taking Climate Action, Now at the Base

What if every transaction could have a positive impact? It can with CHAR by Toucan

In a world where every transaction has the potential to make a positive impact, CHAR by Toucan offers a unique solution. Backed by real-world carbon assets, CHAR integrates climate action into our economic systems, allowing anyone to fund carbon removal through onchain activity.

This Earth Day, CHAR is now available on Base – a secure, low-cost, builder-friendly Ethereum L2 designed to onboard the next billion users onto the blockchain. To support climate-positive innovators worldwide, Toucan is offering $250k in builder grants.

But what exactly is CHAR? It is a liquid asset backed by biochar CO2 Removal Certificates certified by Puro.earth. For each CHAR minted, one tonne of carbon has been verifiably removed from the environment. The Toucan bridge connects Puro.earth credits with TCO2s (tokenized carbon credits), allowing for the conversion of illiquid assets into fungible and liquid ones.

Builders can use CHAR to integrate carbon removal into their software products or services, directly contributing to carbon removal through economic activity. Additionally, CHAR provides liquidity and 24/7 access for carbon credit buyers, whether they intend to retire, resell, or trade.

Initial liquidity for CHAR has been deployed on Uniswap V3, with plans for increased liquidity throughout Q2 2024. For those interested in getting involved, builders can integrate CHAR and access the $250k builder rewards pool, investors can provide liquidity in secondary markets, and buyers can learn how to purchase CHAR for various purposes.

Looking ahead, Toucan believes that Base is poised to bring the next billion users onto the blockchain, furthering their mission of expanding access to climate finance. Since its launch in 2021, Toucan has facilitated over $4 billion in onchain volume for carbon credits and is committed to enhancing transparency and accessibility within the engineered carbon removal market. For inquiries or assistance, contact support@toucan.earth.

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