Articles

CRISP-M Token

Dmitri Volosiuc05 mins
CRISP-M

You can read more about the Solid World as a DeFi platform that allows climate project developers to access working capital and carbon credit buyers to access supply at market rates by following the link. In this article, we dive into specific ways of using the Solid World token CRISP-M, which was launched in May 2023.

Tokens can be used to buy forward carbon credits

Carbon credits are from the CRISP-M pool with the following parameters:

  • The project involves Verra Mangrove Restoration forwards that are valid for up to 5 years from the date of issuance.
  • The project is registered with the VCS Program. If the project developers have a demonstrable track record of successful initiatives, planting operations may be enough to start.
  • Over 50% of the benefits from the project must be directed towards local communities.
  • Only credits that achieve an A to AAA CRISP score will be considered.

Project Buying Process:

  1. Go to the project page on the Solid World platform.
  2. Connect your wallet.
  3. Select the project tokens you want to buy.
  4. Pay for the forward carbon credits using the CRISP-M token.

The further the delivery date is, the greater the discount.

Solid World allows buyers of forward carbon credits to take their credits off-chain. To initiate this process, buyers need to contact Solid World and request to take their credits off-chain. Solid World will then burn the project tokens and notify the supplier of the contract transfer. The supplier will then deliver the carbon credits to the buyer`s account in the carbon registry.

Tokens can be used for trading

The token is available for purchase on Uniswap. The launch price for the token was $30. It is now $29.11.

CRISP-M price history

Source: https://dune.com/solid-world/solid-world-crisp-m-dashboard

Cumulative Trading Volume is constantly rising.

CRISP-M Cumulative Trading Volume History
Source: https://dune.com/solid-world/solid-world-crisp-m-dashboard

There are 202 holders, with the main share of tokens held by a few wallets.

Polygonscan CRISP-M
Source: https://polygonscan.com/token/0xEF6Ab48ef8dFe984FAB0d5c4cD6AFF2E54dfdA14

Tokens can be used for staking

To stake CRISP-M LP tokens, you are lending CRISP-M and USDC tokens to the Gamma Protocol. At the time of writing this post, the Liquidity Pool composition is:

  • 276,145.43 USDC (47.08%)
  • 10,631.15 CRISP-M (52.92%)

19,627.04 CRISP-M LP Token are staked. The variable annual percentage rate (APR) of LP Tokens is 6.42%, which is made up of 0% USDC and 6.42% CRISP-M. The vAPR for USDC was reset to zero in November 2023.

Source: https://dune.com/solid-world/solid-world-crisp-m-dashboard

How to Participate in the Solid World Liquidity Pool:

  1. Connect a wallet to the Solid World app.
  2. Deposit CRISP-M or USDC tokens into the Gamma Liquidity Pool and get LP tokens.
  3. Unlock Staking by Submitting KYC.
  4. Stake Your LP Tokens to Get Rewards. The rewards come from two sources: forward carbon credits through time appreciation and USDC through direct incentives by Solid World.

Conclusion

Since we are talking about private climate investments, the most suitable option is to stake in the Gamma protocol. Currently, the reward is 6.42% CRISP-M.

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