{"signature": "0x96676a99d35a6d88cf69638166b169f9e7c2bfad5415d6ed7911e8ba6913b26a0d9dff4172029e8f4e0fde4a356634eeec9b3c149488c9dfb03ac8b6c1e84b941b", "application": {"round": "0xfe353838ba7ef47c31530041f268161d090543ac", "answers": [{"type": "email", "hidden": true, "question": "Email Address", "questionId": 0, "encryptedAnswer": {"ciphertext": "+q39gsEzgRHVAsPfzDIEF7dNbTZJiLqLZz70C417H4YM79wVtJOomn2PfGzeCD0b", "encryptedSymmetricKey": "43a12a354623bd24a7a7fc62fdf521fc0e25241aee4323e1f284783083b240fa0d5e6cc1cc0e43e73ef4a59f82090407be76d1f4284e401677e8a5efad810c81927ae0df0e7fd2913aa0a648ed92e6be1930532d47722e54c554fc755ab71aa7648e6d88f6c5da69c22862e9c877bf16e0ad838f0ccffeafd1b85159b51a975300000000000000203b5176011a379e70aa3a6d4f0c8d759c8769edb893aab2e0330b01f773d5183cc31b8b2e1374ec2914485c044fed5ca9"}}, {"type": "short-answer", "answer": "Grants and earlier quadratic funding rounds (including GG20)", "hidden": false, "question": "Funding Sources", "questionId": 1}, {"type": "number", "answer": "3", "hidden": false, "question": "Team Size", "questionId": 2}, {"type": "paragraph", "answer": "Carbon Registry and Tokenization: With an ever-increasing demand for carbon offsets, climate experts have expressed concerns regarding the legitimacy and veracity of the growing numbers of carbon credits making their way into this marketplace. Change Code has the privilege of working with two climate-science-first registries who have each developed several rigorous CO2 nature-based sequestration methodologies. While these innovative projects are non-profits comprised of climate scientists, they do not themselves have the expertise necessary to build or maintain the registry infrastructure necessary to support their own goals around scale and verifiability. This is why they are working with Change Code. By using our primitives to issue web3 native carbon credits, their assets can command a higher market value, contributing to more competition and price discovery in abatement and avoidance assets. Beyond this, we are also co-developing, together with a net zero real estate platform, an open-source primitive for a carbon asset-backed security that will better incentivize the use of timber and other climate-smart construction materials for construction companies and real estate developers. \n\nOther climate impact areas: As of July 2024, Change Code is currently working with 4 projects focused on different areas of environmental impact: abovementioned solar microgrid-facilitated small business and agro development project in Tanzania, in partnership with the Solar Foundation (100% of GG21 funds will go to this specific project summarized above in the \u201cProject Description section\u201d); a small-scale solar development project for electrification of a remote region of Nigeria (Tech and Sun); a water filtration and provision social enterprise in 7 countries across east Africa (Jibu, link in question 8); and a coral reef restoration initiative in Belize (Healthy Reefs, Healthy People). For each of these organizations, Change Code's platform helps them to determine the impact metrics and reporting standards necessary to architect the best possible token representation of their impact. Utilizing our user-friendly Change Credit (impact token) minter, they then immutably record and verify their unique positive impact. These minted tokens represent the tangible impact outputs and outcomes that their organizations have produced, attested to on-chain in a secure and reliable manner.", "hidden": true, "question": "Impact statement - what real world problem do you solve and how", "questionId": 3}, {"type": "paragraph", "answer": "We have recently reworked our infrastructure to see our contracts and tokens deployed on Optimism. We are embracing the OP Stack and are excited to flip the switch to be live on Celo once the L2 is ready!\n\nWe believe that our approach to impact tokenization and monetization can help pioneer a new standard for funding impact where the creation of public goods and positive economic externalities can occur coincident with the economic returns. Purpose and profit don't have to be at odds with each other.\n\nWith the expansion of carbon protocols we're supporting, we expect to issue +100k tons of carbon credits within the next year, and we believe that Celo would be the best home for these assets.", "hidden": true, "question": "Celo leverage - how does your project contributed to the Celo ecosystem?", "questionId": 4}], "project": {"id": "0x0c35dc7f743f4d9efb7a25005a2454ae24da8522e5fa417201a96c0c1f256b8e", "title": "Change Code: web3 native carbon markets", "logoImg": "bafkreiclgujs6nh4qsez7p36kf5jkuakiqjehtjdwwbwhoismeg2lim4t4", "metaPtr": {"pointer": "bafkreihwio5wb2nabd72dpuq7ptlrcb5vvsexesw3p674qkumyb23zwztu", "protocol": "undefined"}, "website": "https://changecode.io", "bannerImg": "bafkreibiixebyeli7s4gcdkbg3ueluw5vmasrqpl3qpkx74tac4lp5c2sq", "createdAt": 1722648131708, "userGithub": "c-georgen", "credentials": {"github": {"type": ["VerifiableCredential"], "proof": {"jws": "eyJhbGciOiJFZERTQSIsImNyaXQiOlsiYjY0Il0sImI2NCI6ZmFsc2V9..VZJVjbdsYOJlwy4OVWc1_Cb_RX1h2xg--0ANvhVtvdjC3uehngmGL8yEg8Yg8L4C_bcadnHgX6j50yWea8j8CQ", "type": "Ed25519Signature2018", "created": "2024-08-03T01:21:50.201Z", "proofPurpose": "assertionMethod", "verificationMethod": "did:key:z6MkghvGHLobLEdj1bgRLhS4LPGJAvbMA1tn2zcRyqmYU5LC#z6MkghvGHLobLEdj1bgRLhS4LPGJAvbMA1tn2zcRyqmYU5LC"}, "issuer": "did:key:z6MkghvGHLobLEdj1bgRLhS4LPGJAvbMA1tn2zcRyqmYU5LC", "@context": ["https://www.w3.org/2018/credentials/v1"], "issuanceDate": "2024-08-03T01:21:50.201Z", "expirationDate": "2024-11-01T01:21:50.201Z", "credentialSubject": {"id": "did:pkh:eip155:1:0xa70b69f752C0dBd6ac07Fcf243a9960469735c4C", "hash": "v0.0.0:wYf5DFhCW5xor8fR4ZkPOH7t3WZNXDwdoDIl8QBoqL0=", "@context": [{"hash": "https://schema.org/Text", "provider": "https://schema.org/Text"}], "provider": "ClearTextGithubOrg#change-code-io#7481936"}}, "twitter": {"type": ["VerifiableCredential"], "proof": {"jws": "eyJhbGciOiJFZERTQSIsImNyaXQiOlsiYjY0Il0sImI2NCI6ZmFsc2V9..MSUwQMTfhOp9ITbAJ98f4ASbTtlPDzBI1JZ4spdpE2IRt5rX70zpJfMv2DUVwbHD4eP1HGQ15EXeK1tX7I8bCw", "type": "Ed25519Signature2018", "created": "2024-08-03T01:21:28.807Z", "proofPurpose": "assertionMethod", "verificationMethod": "did:key:z6MkghvGHLobLEdj1bgRLhS4LPGJAvbMA1tn2zcRyqmYU5LC#z6MkghvGHLobLEdj1bgRLhS4LPGJAvbMA1tn2zcRyqmYU5LC"}, "issuer": "did:key:z6MkghvGHLobLEdj1bgRLhS4LPGJAvbMA1tn2zcRyqmYU5LC", "@context": ["https://www.w3.org/2018/credentials/v1"], "issuanceDate": "2024-08-03T01:21:28.807Z", "expirationDate": "2024-11-01T01:21:28.807Z", "credentialSubject": {"id": "did:pkh:eip155:1:0xa70b69f752C0dBd6ac07Fcf243a9960469735c4C", "hash": "v0.0.0:Frxhks9C27ATSbC9UIjgilQBQs6jztWMQ6Yv5mXCDPE=", "@context": [{"hash": "https://schema.org/Text", "provider": "https://schema.org/Text"}], "provider": "ClearTextTwitter#changecodeio"}}}, "description": "## TLDR\n* Change Code believes that to achieve the world\u2019s sustainability goals, we must find a way to make purpose profitable. We\u2019re pioneering new financial primitives and tokenomics that will drive impact as the next asset class to be powered by web3.\n* Change Code is partnered with [BCarbon](https://bcarbon.org/), a leading carbon research and standards body and one of the only standards bodies to embrace web3 for their native registry. By embracing a blockchain-native registry, supplied by Change Code, BCarbon is able to offer an unmatched level of transparency and accountability for their credits.\n* Since beginning our work together in March of this year, BCarbon has issued nearly 40,000 tons of carbon credits for soil and forestry-based sequestration using Change Code\u2019s asset tokenization framework.\n* Our goal for this round is to extend our tokenization framework to support the issuance of carbon credits from upcoming methane and blue carbon protocols being developed.\n## Change Code\nChange Code has developed a protocol for impact tokenization and monetization called Change Credits. Change Credits are a new ReFi/DeFi primitive (already in production as web3 native carbon credits) that utilize [hypercerts](https://hypercerts.org/) and the Ethereum Attestation Service [(EAS)](https://attest.org/) to maximize interoperability with the broader ecosystem.\n\nAs a primitive, Change Credits are highly adaptable to many funding and impact verification flows, ranging from retroactive funding and community donations to impact bonds and structured financing for social enterprises.\n\n## Background and Previous Work\nBCarbon began in 2019 at Rice University\u2019s Baker Institute for Public Policy as a working group that has since grown to more than 600 carbon buyers, landowners, and climate experts. BCarbon identified the need to create a new carbon standard that could simultaneously garner a high degree of trust from buyers but also present a feasible set of requirements for land stewards. Though they initially set out to solve this usability and awareness gap in their own backyard focusing primarily on Texas ranchers, in the last 18 months, they\u2019ve received project inquiries from several countries across the globe.\n\nSince March of 2024, Change Code has worked with BCarbon to natively tokenize more than 38,000 tons of carbon as BCarbon\u2019s web3-native registry provider. To date, these carbon credits have been issued according to BCarbon\u2019s protocols for soil and forestry carbon supporting land stewardship in the US and the UK.\n\nYou can find more information on the carbon credit work we\u2019ve accomplished since launch at the [BCarbon registry](https://bcarbon.changecode.io/), powered by Change Code.\n\n![web3 native registry](https://github.com/change-code-io/gitcoin-resources/blob/main/Carbon%20Credit%20Registry.gif?raw=true)\n\n## Carbon RWA Tokenization\nBCarbon credits are tokenized as either fungible or non-fungible tokens and tied to batch and land steward specific metadata to create a complete and immutable representation of the carbon asset on chain. This tokenization is carried out pursuant to Change Code\u2019s broader Change Credit framework. More information on our impact tokenization framework can be found in our [docs](https://docs.changecode.io/).\n\nThe entire lifecycle for BCarbon\u2019s credits is carried out natively on-chain with Change Code. Credits are minted as either ERC20 or ERC721 tokens with supporting documentation published via IPFS. Carbon buffer balances are maintained in separate and fully transparent accounts, and credit retirement is mirrored through token burning.\n\n## Goals and Upcoming Milestones\nOur motivation for participating in this GG21 round is to (1) make the necessary enhancements to our tokenization process to support additional carbon protocols and (2) complete our migration to Celo.\n\nWithin the next quarter, we anticipate carbon credits being issued pursuant to a methane abatement protocol that will see natural gas wells capped and secured to prevent any additional greenhouse gas release. Following the launch of the methane protocol, we will begin further extending our tokenization framework to support blue carbon projects.\n\n### Celo Migration\n1. We recently completed a preliminary migration of our contracts and deployment infrastructure to Optimism, aligning our own design with the requirements of building on the OP Stack.\n2. Before the end of Q3, we expect to have our contracts deployed on the Dango L2 testnet so that we are well prepared for the eventual re-launch of Celo as part of the Superchain.\n3. We have already begun testing the use of LayerZero to see our impact tokenization and monetization protocol achieve fully cross-chain functionality. By Q4, we are aiming to complete our LayerZero integration and to move into production.", "lastUpdated": 0, "projectGithub": "change-code-io", "projectTwitter": "changecodeio"}, "recipient": "0x831F4ED6c49557318f06Bfb7Bce8488090cd9eCC"}}