C+Charge was founded with the ambitious goal of creating a blockchain-based decentralized payment system to replace traditional banking payments for charging electric vehicles.
Within this system, it was planned to issue 1 million CCHG tokens. With each electric vehicle charge, 1% of the used CCHG tokens was to be automatically directed towards purchasing carbon tokens called Goddess Nature Token (GNT), and the remaining 99% of the tokens were to be burned. GNT tokens would then be distributed among CCHG holders. There were also plans to create C+Charge’s own network of charging stations. More details can be found in the project’s Whitepaper.
C+Charge’s ambitious plans were not destined to be realized. As planned, 1 million CCHG tokens were issued. After a series of presales, CCHG tokens were listed on the centralized exchange Bitmart. On April 22, 2023, the value of CCHG reached its peak at $0.009253. However, by the time of writing this article (June 5, 2024), the price of the tokens had fallen to $0.0001533, which is a 98.3% decrease over the year. There is no evidence that C+Charge implemented its plans to deploy a payment system for charging electric vehicles using CCHG tokens. There is also no information about any actions taken by the company to create its own network of charging stations.
Problems
From a climate regulation perspective, C+Charge’s plans seem somewhat unrealistic. The service of voluntary carbon offsetting is currently not in demand. Considering carbon tokens as a financial asset is also challenging due to their low liquidity. Therefore, cashback in the form of GNT tokens amounting to a modest one percent of the used CCHG tokens would unlikely motivate customers.
Alternative Options
- Investing in climate projects: Offering cashback from CCHG towards climate investments through traditional (stocks, bonds, ETFs) or decentralized instruments could be more appealing to customers.
- Investment management: A more advanced option could involve engaging customers in investment management in decentralized finance, as implemented in KlimaDAO.
- Implementation of climate projects: The most ambitious yet potentially most promising option would be to create climate projects based on charging stations where CCHG tokens would be used. Alternatively, initiating climate projects of other types could also be considered.
