Project Highlights
Our platform is designed to streamline and automate the trading of tokenized climate assets, starting with renewable energy certificates (i-RECs). Targeted at climate asset traders operating in LATAM, it addresses the need for transparent, automated processes that lower transaction costs and increase market efficiency. By utilizing blockchain technology, we ensure secure, verifiable transactions for traders who need to meet regulatory and sustainability standards, while also reducing international transaction costs in a continent where all countries have their own currency.
Web3 Advantages
The main advantage of using web3 is that because all LATAM countries have different currencies, trading between them becomes expensive because of bank fees, by using crypto, we are able to reduce that cost by 30%. Also, by using decentralized smart contracts, all actions are trackable on-chain, ensuring regulatory compliance and simplifying audits.
How It’s Built
Our platform is built on the Internet Computer Protocol (ICP), utilizing Motoko for its core logic and integration with third-party services, like the Evident API (sandbox environment), which manages all iREC certificates world-wide. We dynamically generate canisters for scalability and handle token creation, management, and redemptions. Additionally, our platform uses the ICRC ledger to manage asset transactions, while also monitoring user KYC with Internet Identity.
Internet Computer Superpowers
ICP’s ability to create and scale canisters dynamically is central to our architecture. We use this feature to expand our platform seamlessly as user or asset data grows. Additionally, ICP’s WASM-based smart contracts allow us to automate the minting, burning, and transfer of renewable energy tokens, making the trading process frictionless and transparent. We also leverage ICP’s cost-effective storage and computation, which is crucial for the large amount of data involved in renewable energy asset trading.
Go-To-Market Strategy
Our initial strategy involves user testing with a select group of climate asset traders and companies. We are actively engaging with these communities through partnerships, and once fully operational, we aim to expand by connecting to the Evident API for full compliance, by becoming official platform operators. We are also in discussions with the Chilean Financial Markets Commission (CMF) to ensure our platform meets local regulations under the new fintech law.
Monetization
We plan to monetize through transaction and redemption fees, as well as withdrawal fees.
Status of the Project
We are currently in the testing phase with our MVP, focusing on renewable energy certificates. Our core features, such as token creation, trading, and redemption processes, are functional. Additionally, we have integrated with Evident’s sandbox environment and are preparing to scale to the live API once regulatory approvals are in place.
Resources
Future Plans
Our next steps include full integration with Evident’s live API and completing the certification process with the CMF. We are also seeking to integrate with an on-ramp / off-ramp service in order to reduce friction with our clients. Additionally, we will seek further grant opportunities to enhance platform features and continue improving user experience.