How it works?
The CO2 that you offset using this app is backed by the TCO2 token from the Toucan Protocol. As the name suggests, each TCO2 token represents 1 tonne of CO2.
What this app does under the hood is:
- Obtain a Toucan pool token (NCT) by performing a tokenswap on Sushiswap.
- Redeem the pool token for a TCO2 token.
- Retire the TCO2 token.
I used the OffsetHelper contract (deployed by the Toucan team) to allow a retirement within one transaction. You can read more about the Toucan Protocol here and more about the Carbon Markets here.
Calculating the number of tokens needed for redemption is simple. According to statista.com the average carbon emission per kilometer for a typical car is approximately 192 grams, which I've rounded up to 200 grams for simplicity. When converted to tonnes, this is equivalent to 0.0002 tonnes.
Google Maps API calculates the distance of your ride, and by multiplying this distance by 0.0002, you get the number of tokens you'll retire.
That is all, thanks for using this app! If you have any questions or feedback please reach out on twitter. Also, feel free to checkout the github repo.