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About Moss Carbon Credit Token (MCO2)
Moss is a novel blockchain project that facilitates the transfer of tokenized carbon credits to individuals and businesses looking to limit their environmental footprint.
According to the project’s whitepaper, Moss purchases carbon credits from high quality environmental projects across the Amazon rainforest. These credits are subsequently tokenized via MCO2 and made available for sale on Moss Carbon Credit’s digital marketplace. The protocol believes this novel tokenization process creates an added layer of transparency and credibility currently lacking from more traditional carbon credit markets.
MCO2 is the project’s native currency. It’s an ERC20 token that represents ownership of a single carbon credit offsetting exactly 1 ton of carbon emissions. Holders of MCO2 burn the token via Moss’s digital marketplace to receive certification proving they have offset 1 ton of emission per token burned.
MCO2 will eventually enable other novel protocols to embed carbon offsetting capabilities into their own tokens, smart contracts and decentralized application.
As of early May 2022, Moss was said to be the world’s largest carbon platform in the world. The protocol was involved in transactions connected with 900,000 tons of CO2 during its first eight months of operations.
Who created MCO2?
Moss was initially founded by Luis Adaime, a former Credit Suisse VP. Adaime created Moss with the intention of combating climate change though a digital marketplace for emission offsetting carbon credits, the project’s whitepaper said.
When was MCO2 created and how much was it worth?
MCO2 made its market debut in March 2021 at which time the token changed hands at $17.70. According to CoinGecko, MC02 hit an all-time high of $21.68 in December of 2021. The token subsequently declined during the first quarter of 2022.
How is the price of MCO2 determined?
MCO2’s supply is ultimately a factor of global demand for carbon credits. According to Moss’s whitepaper, the protocol mints new MCO2 tokens in accordance with its total trusteeship of carbon credits.
At the time of writing the token had a total circulating supply of 2.85 million MCO2 (CoinMarketCap).
Why does MCO2 have value?
Moss carbon credit token enables individuals and business to completely offset their carbon emission via a fully digital and transparent marketplace. With the emergence of eco-friendly initiatives like cap and trade, Moss would seem well positioned to provide a market-based solution to the planet’s climate crisis.
What are the main benefits of MCO2?
- MCO2 says it provides a digital and transparent marketplace for the purchase/sale of emission offsetting carbon credits.
- Since launch the protocol says it has helped the global ecosystem avoid 1.33 million tons of CO2 emissions, while saving over 500 million trees in the process.
- MCO2 enables novel protocols to embed carbon offsetting capabilities into their own native tokens, smart contracts and decentralized applications.
How to buy Moss Carbon Credit (MCO2)
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