Zero Carbon Coin Trading Report — IDEX and Uniswap
Since launching in 2018, Zero Carbon Project has attracted consumers who are interested in earning rewards for tackle climate change by switching to zero carbon energy. We are also attracting introducers who earn rewards for spreading the word, resulting in more consumers switching to zero carbon energy.
More consumer switching activity drive more zero carbon energy transactions. This results in the winning energy suppliers having to settle their transaction fees with Zero Carbon Coins (ZCCs), which need to be purchased from a crypto exchange.
This Report provides an update on the ZCC trades that have been taking place to support this underlying business. The ZCC are listed on IDEX and Uniswap.
IDEX transaction history
ZCC is listed on the semi-decentralised crypto exchange, IDEX https://idex.market/eth/zcc . The latest traded price is 0.00069 ETH/ZCC which is equivalent to USD0.126 using 182 ETH/USD price.
The following chart shows the history of ETH/ZCC since the market was launched at 0.003 ETH/ZCC in October 2018.
Since the launch in October 2018 125,310 ZCCs have traded, worth 157 ETH. Most purchases have been by Beond and on behalf of energy suppliers in order for them to settle Zero Carbon Market transaction fees. Most sales have been from Zero Carbon Project’s liquidity pool to satisfy the demand from energy suppliers. There have been low volumes of speculative trading activity.
Note that Zero Carbon Project are managing wallets on behalf of energy suppliers and purchasing on their behalf. In addition, Beond is paying the transaction fees for their clients who purchase zero carbon energy and register with Zero Carbon Project. This is a transitionary approach to supporting market trading and liquidity to provide energy suppliers with time to prepare themselves to be able to engage more directly with the Ethereum blockchain and set up their own wallets.
Uniswap ZCC listing
Zero Carbon Project has also listed ZCC on Uniswap, which are displayed and traded at https://uniswap.info/token/0x6737fe98389ffb356f64ebb726aa1a92390d94fb
At the time of writing, ZCC Uniswap exchange rate is 1 ETH = 1885 ZCC ( ~0.00053 ETH/ZCC ). This is based on the current Uniswap pool size 20.9 ETH and 38,561 ZCCs.
Benefits of Uniswap cryptoexchange
Uniswap’s trading platform and order matching algorithm approach provides protection to energy suppliers against their exposure to ZCC/ETH/USD/GBP exchange rate risk.
The exchange risk arises when an energy supplier pays a transaction fee in GBP or USD, but settles the fee using ZCCs. The issue is what market exchange rates should be used to calculate how many ZCCs need to be purchased. This risk is exacerbated if the ZCC purchase is large enough to push up the price. So the exchange rates cannot be set prior to the market purchase, ideally it will be set based on the actual market purchase.
Uniswap solves this problem. The platform can accept any sized transaction with the exchange rate being the variable. The exchange rate is calculated based on the ZCC and ETH volumes available in the liquidity pool at the time of the transaction. The achieved exchange rate is then transparent and available to calculate the invoice in ZCCs.
Join the Zero Carbon Project revolution
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