Automated Approval
Don't trust. Verify.
Last updated
Don't trust. Verify.
Last updated
To submit an automated approval, a project developer will need to submit three things:
Calculated number of tons
Link to data
Collateral
To calculate the number of tons mitigated or removed by your project, you can put your data through a simple interface, which will calculate emissions against the baseline. At the end, the calculated number of tons will be returned.
To make sure the data is stored in a safe and secure way, we require project data to be stored on IPFS. We will be releasing a step-by-step guide on this process shortly.
Once uploaded to IPFS, you will receive an identifier, used to direct others to the data.
Collateral is required to deter bad actors and uphold the integrity of your carbon credits. Once you have calculated the number of tons you are claiming, you will be able to see how much collateral is required to back your claim.
Your collateral is held securely until the claim window is closed (approx. 30 days). Upon a successful claim, the collateral is returned back to you.
Once you have submitted these 3 pieces, the claim can be submitted.
The supplied information can be used by anyone to verify the project developers claims - the calculations are rerun and the data is checked for any anomalies. If any complications arise, the verifier can submit a dispute on the claim. This claim is then elevated to the top layer of arbitration - the specified claim can then be assessed programmatically and settled conclusively. The verdict can then be issued and, if successful, the tons are released, if unsuccessful, no tons are released and the collateral is seized and paid out partially to the verifier.
