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Information for every action taken on the bridge gets stored in the smart contracts and can be retrieved for a specific project and vintage at any time.
- 1.Token Issuance
- 1.Thallo takes custody of carbon credits on the underlying registry
- 2.Thallo creates project and vintage on-chain if they do not exist
- 3.Thallo issues (mints) ERC20 tokens for that specific project and vintage on-chain for the exact amount custodied on the underlying registry
- 2.Token Retirement
- 1.A user requests to retire their credits on-chain through the TCC.sol smart contract. The tokenized credits are held in escrow in the contract until the retirement is finalized.
- 2.Carbon credits are retired on the underlying registry and information such as the retirement serial number is created.
- 3.The retirement is finalized on-chain by a Thallo custodian with the relevant information from the underlying registry. The escrowed tokens are burned. A Proof-of-Retirement NFT is minted to the user commemorating the retirement and containing all relevant information about the retirement.
- 3.Detokenization (Uncustody)
- 1.A user requests to detokenize their credits on-chain through the TCC.sol smart contract. The tokenized credits are held in escrow until Thallo can confirm the requesting party has an account on the underlying registry that can receive the credits off-chain.
- 2.Thallo transfers the carbon credits on the underlying registry to the appropriate party and receives relevant information such as block serial numbers.
- 3.The detokenization is finalized on-chain by a Thallo custodian with all relevant information. The escrowed tokens are burned.