Coorest allows agriculture and (agro)forestry projects to “get onboarded”: to tokenize their plants and trees, and the CO2 these absorb - for free!. For this, we have created our own Coorest Carbon Standard & Methodology, which sets the guidelines for projects to get on board with Coorest. If a project meets all the requirements, it will receive NFTrees and $CCO2 tokens in accordance with the size and characteristics of its project.
Onboarding your carbon capture project with us will allow you to tokenize its CO2 absorption. The project will be recreated as an NFT which will generate CO2 tokens. This will allow you to tap into a new revenue stream completely for free! Coorest’s mission is to remove the barrier to entry in the voluntary carbon market. In return for onboarding your project, Coorest receives 8% of its CO2 tokens whenever you divide to claim them on the dApp.
Here are some of the most relevant requirements set forth in the Coorest Standard, and that projects must comply with in order to successfully onboard with Coorest:
Reforestation can only be carried out with vegetation that is non-invasive
Only long-term projects with 20 years or more projection will be considered for onboarding.
Proof of land ownership or long-term lease.
Reforestation can only be carried out with vegetation that is native and respectful to the area
The trees must not have been planted as a consequence of a government’s mandate, policy, or initiative.
The project must not have received carbon compensation units from other organizations
Additionality: projects must entail additional carbon compensation that would not have occurred without their activities. For more information on additionality, please visit our Carbon Standard.
Projects are evaluated by Coorest’s science team for compliance with the Coorest Carbon Standard.
A legal agreement is signed by both Coorest and the project.
The project receives a document that confirms the onboarding of your project and set forth Coorest’s findings and the project’s carbon absorption ratio.
The project is tokenized and turned into an NFTree.
The project information is included in the Coorest Carbon Registry.
Projects receive support and coaching from Coorest.