What’s Coming to Regen Network this Fall
Including me, Sari Lott, Regenerati Community Manager! 👋🏽
The path that has led me to Regen Network has been quite eclectic. I have worked in LA (both the literal city and the metaphorical film industry), education (high school French/English teacher), and IT (tech support for a software company).
Ultimately though, I found what I was looking for through our community’s own Dan Pittman. Between Dan’s ardent sermons and my own research, I completely fell in love with the spirit of Cosmos and the projects on it.
Blockchain holds so much wild potential, and beneath the hype of token price speculation are projects using this technology to make the world a better place. Nowhere is this more true than in the Cosmos ecosystem and, more specifically, Regen Network.
I am so excited to be here for this moment at Regen Network! It can be difficult to keep up with everything happening in the Regenverse. Allow me, your new guide to all things Regenerati, to update you on what’s coming to the network this summer and what you can expect over the next couple of months.
Regen Ledger v4.0
The release of Regen Ledger v4.0 opens doors to all the exciting new developments coming out of Regen Network. While prior versions of Regen Ledger had allowed ecocredits to be created, issued, managed, transferred, and retired, Regen Ledger v4.0 introduces mechanisms for bringing these credits to a central market on Regen Marketplace.
Our team of validators upgraded the chain to v4.0 in just ten minutes on Thursday, August 4th, 2022. With this latest iteration of Regen Ledger in place, the groundwork has been laid for two different ways for ecocredits to be bought in a permissionless, trustless manner.
Firstly, v4.0 introduced functionality that allows for an on-chain marketplace. This is accomplished in part with the introduction of on-chain projects, meaning on-the-ground project developers providing ecosystem services will now be represented as on-chain entities. In addition to this functionality, a new submodule supports a simple storefront model for creating sell orders and purchasing credits directly from those sell orders, which can then be used by the newly added on-chain entities.
Secondly, v4.0 completes the basket submodule, added in v3.0, with new management features. The basket submodule allows ecocredits to be basketed together and represented by a fungible token that can be bought and sold on a decentralized exchange like Osmosis. To fund the first basket, v4.0 also added functionality to allow nature based carbon credits to be bridged from Polygon.
Regen Marketplace
This on-chain marketplace is exactly what it sounds like: a platform for buying and selling ecocredits. Users will be able to browse ecocredits by credit class, project, or current owner. Prospective buyers will be able to purchase these credits for a price specified by the seller, all directly on our marketplace application.
The coolest part about the on-chain marketplace is that it provides a platform for more personal ecocredits. More than just buying credits to offset one’s carbon footprint, Regen Marketplace allows individuals to invest in an Earth healing project of their choice.
While the initial credit supply will feature credits RND purchased out-right from City Forest Credits Registry, the on-chain marketplace platform will allow ecological impact projects to not only sell their ecocredits, but also tell their story.
The first ecocredits available on the marketplace represent carbon from 13 urban forestry projects across the United States. Dubbed City Forest Carbon Credits, funding from the sale of these credits supports city tree planting and forest preservation projects.
Before the marketplace can officially launch, a currency allow list must be established, ie: the tokens which can be used to purchase ecocredits. Participate in the ongoing discussion here and be sure to vote once the official proposal is submitted!
Carbon Credits on Osmosis
In addition to the on-chain marketplace, Regen Network will be minting a new token, the Nature Carbon Ton (NCT), to represent basketed ecocredits. A REGEN:NCT liquidity pool will be launching on Osmosis to allow NCT tokens to be bought and sold on the DEX. Liquid NCT can be taken back to Regen Ledger and redeemed for the underlying ecocredits, which can then be retired and claimed for carbon footprint offsets.
It is more than plausible that some buyers will be looking for more ecocredits than the projects in the Regen Network on-chain marketplace can provide alone. Being able to buy and sell ecological credits in this manner means companies or individuals will be able to buy large quantities of credits to use as carbon footprint offsets.
Initially, the basket will be funded with NCT eligible carbon credits bridged from Polygon. A team of developers from RND is in the process of building the “Toucan Bridge”, named for the protocol on the Polygon side of the bridge providing initial credits.
What Lies Ahead
We anticipate this series of major product launches, all while our team will be hosting it’s first company-wide in person retreat since the pandemic began in Western Massachusetts, traveling to the Cosmoverse conference in Medellin, Colombia, and co-sponsoring in the Blockchain Infrastructure Carbon Offsetting Working Groups’ first conference, the Green House Retreat. While it will be a busy fall, we love what we are building, and spend a lot of time focusing on ensuring our community is empowered by these open-source decentralized ecological asset issuance tools.
Photo by Osama Khan on Unsplash
