Allow KlimaDAO to redeem pooled carbon tonnes in the treasury into the underlying (BCT into an underlying TCO2 offset, for example), to convert into an equal or higher value carbon pool.
KlimaDAO is the largest holder of BCT, with 88% of the circulating supply. BCT itself is an index of a range of TCO2s (tokenized CO2), which are fractionalized NFTs representing the original verified carbon offset bridged on-chain. Pooling together TCO2s with similar qualities mitigates the fragmentation of trading specific offsets, allowing liquidity to be provided for a wide range of offsets.
When new carbon pools (https://docs.toucan.earth/protocol/pool/pools) are launched by Toucan or any protocol that uses the Toucan infrastructure, there may be overlap between one carbon pool and another. This allows anyone to redeem a TCO2 from one pool and deposit it into another. If the new carbon pool is on average higher quality than the original, the market should value that pool at a higher price, and thus moving offsets to a higher quality pool increases the market value of the same tonnage (https://docs.toucan.earth/protocol/pool/redeem).
Allow the Policy team, advised by carbon experts in the DAO, to redeem a Toucan carbon pool token held in the treasury into its underlying TCO2, with the intent of depositing into another carbon pool. The restrictions are as follows:
1) The new carbon pool must not introduce new security risks to the treasury.
2) The quality requirements of the new carbon pool must be equal to or greater than the original carbon pool.
3) A maximum limit of 10% of the total carbon treasury can be redeemed at one time.
4) Full transparency reports after the conversion has been done, in order to ensure full communication to the users.
Proper avenues of communication will be facilitated between KlimaDAO and the carbon protocol (e.g Toucan) to ensure that alignment is maintained.
The informal forum poll begins now and will end at Feb 11th 18:00 UTC. Assuming in favor, this vote will go to Snapshot.