GPT 1.0 - Smart Contracts
Greener initial structuring
In the on-chain architecture of the project, initially, 3 Smart Contracts were used to ensure the convergence of on-chain/off-chain data between GPTs and UECs. The ERC777.sol standard was chosen for the development of the platform. The custody of wallets containing the GPTs generated after the main net launch was held by Fireblocks, and only Greener had permission to manage the GPTs stored there. Thus, Greener was responsible for the burn and mint actions of GPTs.
The second contract aimed to maintain public records of UEC-generating projects, storing information such as the influence area, forest area, and the identifier of the certificate linked to the project, including the serial number and UEC units.
In the off-chain environment, verification was performed through an endpoint that directly accessed the database to check the availability of hashes, ensuring the update of all transactions carried out in the project. Certificates were issued as Soulbound NFTs following the ERC721 standard and were non-transferable. This means that the NFT representing the offset certificate was linked to the crypto wallet of the holder of the burned GPTs, providing transparency regarding the entity or person who offset their carbon footprint.
To understand the GPT, it's important to understand its origin. The GPT is a tokenized representation of Carbon Stocking Units (UECs), where each unit represented one ton of CO² removed from the atmosphere. In the ecosystem, UECs were generated following the following flow: 1) The rural producer interested in generating UECs joined the core group of their region and the UEC Generation Program, committing to preserving the native forest on their property for up to 25 years; 2) The program's technical team conducted the forest inventory and the Quantification Report - Productive Activity and Environmental Adequacy Plan (PAPA).
After these steps, the certification of assets was carried out by UNESP, responsible for verifying and validating the Forest Inventory. Then, the Quantification Report was verified, certified, and validated by TÜV Rheinland. Ernst & Young validated the UEC generation methodology. When the generation process was in accordance with the established premises, the UEC was issued, and the certificate and report were sent for custody at the Macrae & CO law firm in London. Subsequently, the CPR (Reduction Project Certificate) was issued and registered with CETIP. Finally, after the UEC was issued according to the established process, these assets were tokenized, registering the GPTs on the blockchain.
After the offset process was carried out using GPTs, the corresponding UEC was retired, and a certificate was generated as proof of the action for the company that participated in the process. GPT 000000000 000000000 0000 000 000 0 000000000 00
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