Toucan
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Carbon + DeFi
We are bringing carbon as a new money-lego to Web3. Kickstarting an open and decentralized climate finance ecosystem.
Toucan Protocol transitions to open source and spins out Cedar
Toucan announced it would become an open-source, community-driven project and spin out a new venture, Cedar (building AI agents for sustainability teams), which acquired partner Neutral. Existing tokens and the Puro bridge continue operating unchanged.
Toucan launches first two-way bridge to Puro.earth
Toucan released a two-way bridge to carbon removal standard Puro.earth, integrating the Puro Connect API to enable tokenization, detokenization, and retirement of Puro CO2 Removal Certificates (CORCs, e.g., biochar credits) on Celo and Polygon.
Verra prohibits tokenization of retired carbon credits
On May 25, 2022, carbon standard Verra announced it would immediately prohibit creating instruments or tokens based on retired credits—the core mechanism of Toucan's Carbon Bridge—prompting Toucan to respond publicly about keeping its Web3 ethos while pursuing compliant alternatives.
Nature Carbon Tonne (NCT) token launch
Toucan opened the NCT market on February 10, 2022, at 18:00 CET, introducing its second liquid carbon pool token backed 1:1 by nature-based carbon credits, developed in partnership with Regen Network and Moss.Earth.
Toucan Protocol launches with the Toucan Carbon Bridge
In October 2021, Toucan (rebranded from its earlier CO2ken iteration) launched its infrastructure alongside KlimaDAO, deploying the Toucan Carbon Bridge on Polygon to tokenize Verra-issued carbon credits into TCO2/Base Carbon Tonne (BCT) tokens. The rebrand and protocol launch were announced in a Mirror post that month.