Poseidon has developed a platform that allows a person to turn the negative environmental impact of every purchase person makes into positive climate action. This is possible through a revolutionary integration that connects a person directly to forest conservation projects, allowing a person to make micro-donations with a measurable impact.
The platform is unique in many ways. With it, people can transact grams of carbon credits, for the first time, allowing to integrate the connecting people protecting forests with consumers around the world at the point of sale. This has never been done before. Once the solution is fully operational, retailers will be able to offer carbon credits with every product and service to mitigate and rebalance their negative climate impact or even turn into a “climate positive” offering. Customers will be able to make a purchase at a physical shop or online store and immediately contribute to the fight against climate change. Using blockchain-based and artificial intelligence-powered platform, forest-based carbon credits will be managed throughout an entire lifecycle. It will offer transparency, traceability, and monitoring at every step. While it will of course sit alongside the structural improvements that businesses are making to lower their emissions, it offers the critical acceleration in activity and funding for emission reduction projects, driving the changes necessary for sustainable global development.
Initial focus is the retail space, after which the company will be expanding to corporates, traders, and governments. Retailers will be able to integrate with our platform through various channels, including their Point-Of-Sale (POS), websites, mobile apps, and more. It will work closely with retail partners to build a user experience that matches brand image and create an integration that is both simple and modular to ensure an enjoyable user experience that is also scalable.
Will be created the two Stellar assets OCEAN and CARBONCREDIT that are unique tokens to the Poseidon platform. Tokens are enable the processing of carbon credit micro-transactions in almost realtime at a very low cost. OCEAN tokens are instruments of payment that are used to purchase CARBONCREDIT tokens for the purpose of either offsetting carbon emissions or to take ownership of carbon credits. Using Stellar accounts and backend, the company manages the lifecycle of carbon credits that people purchase from emission reduction projects around the world.
The Stellar asset OCEAN is an instrument of payment and the only way to purchase carbon credits on the platform. Customers can purchase tokens from Poseidon or on the secondary market and in retail integrations also use OCEAN tokens from liquidity pool. The company created a fixed supply of 36 billion tokens and we will not burn OCEAN tokens or create additional supply. To support a sensible pricing of micro-transactions that are required to link carbon credits to purchases, the company decided to call one thousandth of an OCEAN token a Drop (DROP). Each OCEAN represents a value according to a yearly fixing according to the global carbon market value. This is explained in greater detail in the token economics section.
The Stellar asset CARBONCREDIT represents one ton of carbon credit and each will be linked to a particular Stellar account, representing carbon credits that were purchased from one emission reduction project for a particular year. Using these tokens, people are able to transact fractions of carbon credits. Carbon credits are currently traded in tons and vision is to trade them in grams, small enough to attach them to individual product and service purchases in the retail space. As carbon credits are created with every new emission reduction project and as credits are also continuously taken out of circulation when credits are being attached to a carbon emission as an offset, the company will continuously create new CARBONCREDIT tokens and burn existing ones over time.