• Sat. Apr 20th, 2024

Flowcarbon expands carbon credits on Celo via blockchain partnerships

Flowcarbon, a company offering on and off-chain solutions to reduce carbon, has entered into a series of lucrative blockchain market infrastructure partnerships. 

It will integrate with AMM protocol and DEX Ubeswap, Ubeswap-enabled dApp Flywallet, SDK and transaction router Node Finance, and mobile wallet Valora, Coin Journal learned from a press release.  

Creating the infrastructure to use carbon credits on Celo 

These partnerships, taken together, build the infrastructure needed to use Flowcarbon’s tokenized carbon credits across functions and applications on the Celo blockchain. Flowcarbon Chief Blockchain Officer Phil Fogel commented: 

Flowcarbon is creating the market infrastructure for carbon credits in a much more straightforward manner that deals with inefficiency, pain points, and high costs of the current OTC market. We are making sure people get transparent prices, unlocking access for individuals and small businesses, and eliminating high broker fees and manual processing.

Celo users can trade between ERC20 tokens 

The AMM protocol Ubeswap allows Celo apps and users to transact in all ERC20 tokens and supplies the decentralized infrastructure needed to integrate tokens throughout the Celo blockchain. 

It is behind a solid application ecosystem where GNT and other Flowcarbon tokens can be used for everything from lending to offsetting. 

Ubeswap Business Lead Evan Kereiakes said:

Ubeswap is delighted to partner with Flowcarbon to bring the benefits and liquidity of Flowcarbon’s ReFi ecosystem to more people. This will begin with the launch of a brand new GNT/cUSD liquidity pool. Both Ubeswap’s and Flowcarbon’s decentralization goals are furthered as more liquidity and users enter the ecosystem.

Key Flowcarbon integrations

Valora ensures a seamless experience for all users unfamiliar with crypto by making it possible to buy, use, and hold Celo assets on a mobile phone. They can be used across Web3 dApps, giving retail users a way to reduce their carbon footprint.

Transparent carbon offsetting prices 

Node Finance App allows users to determine the best available price for GNT and transact with fewer steps, offering routing between Celo apps. 

This solves a major issue in the existing voluntary market: insufficient price transparency for offsetting carbon.

Finally, Flywallet lets people save money for flights and offset those flights’ carbon footprint. 

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