O＝C＝O
What is OCO ?
OCO is an ERC20 token that represents carbon emissions, quantified in grams of CO₂ equivalent (CO₂e). Its issuance rate is based on emission scenarios from the UNEP Emissions Gap Report 2024 (1.5°C scenario). OCO is distributed with an equal allowance to every human, ensuring a fair, transparent trading system that respects our carbon budget.
Why OCO ?
Our planet has a limited capacity to absorb carbon emissions. We currently emit more than nature can handle, putting future generations at risk. OCO establishes a fixed carbon budget—similar to other scarce natural resources—where every individual receives an equal quota. This approach promotes accountability and fairness in managing our collective emissions while also rewarding sobriety.
How It Works
Tokenomics
- No pre-allocation: Tokens are issued solely through the allowance system.
- Allowance Issuance: Allowances are issued progressively every block over each epoch (~one year). The per-block allowance equals the total epoch allowance divided by epoch duration.
- Automatic Sales: Unclaimed allowance tokens are auctioned pro‑rata each block.
- No Protocol Fees: All proceeds from sales directly benefit allowance holders.
Allowance Eligibility
- Each human mints exactly one Pileus NFT per epoch after proof-of-personhood verification.
- Holding a Pileus NFT automatically grants an OCO allowance.
- The NFT expires at the epoch's end, requiring renewal each epoch.
Allowance Amount
The allowance amount decreases each epoch following emission pathways consistent with a 1.5°C scenario:
- Year 2030: 3.85 tCO₂e per capita
- Year 2035: 2.81 tCO₂e per capita
Claiming and Withdrawing
- Claim: Users can claim all or part of their OCO allowance to their own wallet, immediately removing those tokens from the automatic pro‑rata auctions. Once claimed, the tokens behave like any standard ERC-20 asset.
- Withdraw: Unclaimed allowance tokens are auctioned automatically, generating ETH each block. Users can withdraw their share of ETH proceeds anytime.
Trading Mechanism
Every block, unclaimed‑allowance tokens are auctioned pro‑rata. Note that only tokens from unclaimed allowances participate in these auctions.
- Buy: Anyone can purchase OCO tokens using ETH. Investments are evenly distributed over each remaining block in the epoch. The final token price is determined at settlement.
- Settle: Buyers finalize ("settle") their token purchases anytime, locking in the final price for past blocks. This price is calculated from total ETH invested versus total unclaimed allowance.
Smart contracts
| Network | Contract | Address |
|---|---|---|
| World Chain | OCO.sol | 0xf919250541a98a36eadef0e2f03fe0a9ca707fe3 |
| World Chain | TOTC.sol | 0x1638438ce0960a1f6a139ef87b292c0b62dbb3c3 |