In the world of carbon offsetting, Carbonable introduces an innovative approach with the concept of agriculture. This unique farming system symbolizes the actual carbon absorption of the project and is revolutionizing the way we are tackling climate change.
Farming Carbonable serves two main purposes:
generate revenue : It allows generating revenue by selling carbon credits in the form of an annual percentage (APR). By effectively trading carbon credits, Carbonable not only incentivizes individuals and organizations to participate, but also ensures a continuous cycle of carbon offsetting.
Expiring carbon credits: Low-carbon agriculture allows for the retirement of carbon credits. Through this process, the project actively offsets its carbon emissions, contributing to a net zero carbon footprint. By retiring these carbon credits, Carbonable demonstrates its commitment to reducing environmental impact and sets a strong example for other initiatives to follow.
The farming system implemented by Carbonable has the potential to have a significant impact on the carbon market. By tokenizing decarbonization projects and creating a sustainable revenue model, Carbonable offers a practical solution to combating climate change.
See Appendix A at the end of this article for more details on the different forms of farming.
When it comes to low-carbon farming options, whether for yield or offset, there are three basic actions that the owner can take:
- Deposit: The first step is to deposit part or all of your agricultural rights for a specific project. This deposit serves two purposes: generating income or retiring carbon credits.
- Withdraw: You can choose to withdraw some or all of your agricultural rights from the project. This payout can be done for both Yield and Offset options depending on your deposited positions.
- Claim: After depositing and effectively farming, you have the option to claim your rewards depending on the option you choose. These rewards can come in the form of stablecoin (USDC) for the yield option or a certificate of offset confirming your contribution to carbon reduction efforts.
By understanding and skillfully executing these key actions, participants can get the most out of their farming endeavors, whether for financial reasons or the noble cause of offsetting carbon emissions.
The Dapp by Testnet Carbonable is live now!
Warning: Farming is only operational on the Starknet test network
Step-by-step instructions are provided for the following actions:
- Requirements for low-carbon agriculture
- How to Deposit (Income and/or Offset) with Carbonable Farming
- Exit from CO2-neutral agriculture (yield and/or compensation)
- How to claim carbon farming (yield and/or compensation)
These guides ensure a smooth and efficient user experience.
In order to use Carbonable Farming, you must own an SFT (Semi-Fungible Token) from one of the projects. Or you need to migrate one of the NFTs (Non Fungible Tokens) from one of the projects to an SFT of the same project.
To check if you own at least one SFT of one of the projects, you need to go to the “Portfolio” page.
To deposit your SFTs with Carbonable Farming, you must first go to the Farming page.
Then you need to find your project’s farming pool and click on it.
In our example, we are paying for the “Sea-StarkTest” project.
After clicking on the project’s farming pool, you will be taken to the Farming Project page for the Sea StarkTest project.
Once on the page, you can click “Deposit” to deposit all or part of your interest in the SFT.
In our example we have 3 stocks and we will deposit 2 in yield farming and 1 in offset farming
First, we will deposit 2 shares in Yield Farming.
If the transaction is being processed, after signing the transaction with your wallet, you will see a notification with the status of the transaction.
If the transaction is validated, the page will be automatically updated and you will be shown the new status.
Then we deposit 1 share in offset farming.
As for the deposit in Yield, you can follow the transaction processing from the notification.
When the transaction is validated, the page will automatically refresh again to reflect the new status.
You have now deposited all your shares in the farming pool of the “Sea Starktest” project
In order to withdraw your SFTs from Carbonable Farming, you must first visit the Farming page.
Then you need to find your project’s farming pool and click on it.
In our example, we will retire all shares from the Sea-StarkTest project.
After clicking on the project’s farming pool, you will be taken to the Farming Project page for the Sea StarkTest project.
Once on the page, you can click “Withdraw” to withdraw all or part of your share from the farming pool.
In our example, we deposited 3 shares, so we will withdraw 2 from yield farming and 1 from offset farming
First, we will subtract 2 shares from Yield Farming.
When you withdraw from Yield, you can follow the transaction processing through the notification.
Then we will deduct 1 share from Offset Farming.
When you withdraw from Offset, you can track the transaction processing through the notification.
Now you have withdrawn all your shares in the farming pool of the “Sea-Starktest” project
To claim your Carbonable Farming Bounty, you must first visit the Farming page.
Then you need to find your project’s farming pool and click on it.
In our example, we will apply for the “Sea-StarkTest” project.
After clicking on the project’s farming pool, you will be taken to the Farming Project page for the Sea StarkTest project.
In our example, we deposited 2 stocks in yield farming.
Once on the page and the loading process is complete, you can click “Request” and sign the transaction with your wallet to retrieve all your rewards in USDC.
If the transaction is being processed, after signing the transaction with your wallet, you will see a notification with the status of the transaction.
If the transaction is validated, the page will be automatically updated and you will be shown the new status.
You have now claimed all your rewards from the Sea Starkest Project Farming Pool
It’s important to note that the farming opportunities discussed here are unique to the Starknet testnet.
It is important to emphasize that Carbonable’s farming, like many other aspects of our initiative, is a product of open source development. This ensures transparency, encourages collaboration and enables continuous improvement.
As the development of this innovative farming continues, it is important to recognize that the process itself is iterative and that the interface and available options will evolve over time.
We encourage all users to actively engage with us on our Discord platform to provide valuable feedback and seek advice when needed. Come and keep testing Dapp by Testnet Carbonable !
Furthermore, we would like to assure our community that a special article will be published explaining the exact meaning of all the indicators presented on the dapp pages. With these actions, we strive to promote transparency, improve user experience and pave the way for a thriving carbon farming ecosystem.
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