DECA Token is a semistable token based on canceled carbon credits. The objective is to reduce the price volatility anchoring the token to an environmental commodity, the carbon credits. By doing this, DECA supports projects with social and environmental impact and avoids that CO2 gets into the atmosphere in order to fulfill the Paris Agreement goals.
A token that is a commodity and a security leads to a price mechanism model. By a historical and mathematical background that defines DECA token value, the semistable token tends to increase the percentages of the commodity, while the security, as a volatile asset, helps to fund DECA currency. The purpose leads to a full commodity cryptocurrency and its platform.
DECA Token is the first approach, a semistable coin based on canceled carbon credits. The development finished in June 2020. DECA Currency will be the future approach and developed after the ICO. DECA Token will be integrated into the genesis block of DECA Currency. For more information, see our light paper.
Basically, they are digital assets that are equivalent to one metric ton (1000kg/2205 lbs) of CO2 equivalent. The different kinds of certificates (CER, ERU, AAU, RMU, etc.), the virtual currency of the carbon market, are called carbon credits or carbon offsets. In the literature, two definitions of carbon credits are common.
A carbon credit is a tradable instrument which represents either:
• A permit which gives the holder the right to emit one ton of carbon dioxide or equivalent greenhouse gas (tCO2e) into the atmosphere, or
• A certificate from a project that represents the removal or avoidance of one tCO2e from the atmosphere.
The Paris Agreement set out to improve upon and replace the Kyoto Protocol, an earlier international treaty designed to curb the release of greenhouse gases. It entered into force on November 4, 2016, and has been signed by 197 countries and ratified by 187 as of November 2019.
Paris Agreement, in full Paris Agreement Under the United Nations Framework Convention on Climate Change, also called Paris Climate Agreement or COP21, international treaty, named for the city of Paris, France, which was adopted in December 2015, which aimed to reduce the emission of gases that contribute to global warming.
Carbon markets arise with the intention of obtaining the necessary emission reductions (targets) at the lowest cost: whoever can carry out the reduction actions at a not very high cost, performs them. Whoever costs more, buys and helps finance, in this way, the projects of the former: this is how the efficiency of the system is achieved.
With this in mind, the European emissions trading market emerged in 2005. The objective was to meet the objectives established by the Kyoto protocol, and for the European industry to contribute in the most optimal way. Each issuing facility had a reduction target to meet and could meet it either by making technological changes that would reduce its own emissions, or, if that option was complicated and expensive, by purchasing emission rights.
DECA seeks to create a fair and transparent way for parties to easily participate in a low-carbon economy. The goal is that individuals can participate and generate wealth by the value of the carbon credits being emitted. With DECA, individuals are part of the carbon credit process and can vote on the way they get generated, used, and allocated. This means that DECA community members can use the platform to enhance the scientific rigor of their local jurisdiction or to seek validation of carbon credit from one jurisdiction to another. The DECA blockchain seeks to redress the wrongs of carbon emissions by adhering to the principles of the protocol, and by opening the process of the Paris Agreement to a worldwide audience.
DECA smart contract was audited by Quantstamp, a trusted leader in blockchain security, and delivers end-to-end blockchain solutions for the world’s largest enterprises. The entire project is completely open-source and can be accessed by everyone.
To safely access your DECA’s, you must download DECAMASK, a fork of MetaMask in Google Chrome and follow the instructions in our guide. Be sure to have enough ETH as it is the only accepted payment method. You can find the guide here:
– Verify the official Address: 0x3556a5005d5411603e0115efd9b875fdfb3ad7e9
– Set the gas to 100 000 in the fee advance options
– Set the GWI (in the fee advance options) as recommended on the https://www.ethgasstation.info/ for more info see how does GAS works.
As in any cryptocurrency you need to pay a fee to make a transaction. In Ethereal the name of this fee is gas, and it is required to run process or maker transactions, These transaction fees are covered in Ethereum (yes you must have some ether in the wallet). there are two parameters you need to set in the gas or fee to make it work properly, one is GAS AMOUNT or UNITS other is GAS PRICE.
-The GAS UNITS are the minimum required to process the transaction.
-The GAS PRICE is an amount related to how fast the transaction will be processed.
The GAS UNITS is recommended to have 100 000 for two main reasons, in test need we need more, is easy to remember and you get back the units the transaction did not use as change (IMPORTANT: if you use less than 65 000 You might +lose your transaction and the fee/gas).
The GAS PRICE depends on how much congestion is in the network, we used to say 30 GWEI is an average good amount but for some reasons, this may vary a lot, so the best way is always to verify the congestion and check how fast you want your transaction to be done by the site:https://www.ethgasstation.info/ which will give you some recommendations on how much GWEI you should use depending on how fast you want your transaction.
DECA Token starts with a carbon credit backup of 5% after the ICO and increases it constantly in the next three years until reaching 20%. By increasing the backup, DECA Token lowest price will increase. Furthermore, you will be able to use DECA Tokens to acquire products by our selected partner once DECA Currency platform is finished.
LDECA Token cannot be mined. It is based on the ERC20 platform which is mined by the Ethereum users. DECA Currency can be mined in the future.
DECA creates value through the cancellation of carbon credits in two ways: It supports projects with social and environmental aspects and avoids that CO2 from entering to the atmosphere. Each carbon credit is unique and the purchase price of the carbon credit is frozen into the blockchain.
You can compare it with contracting a service, the value of the service isn´t created during the project development, only in the execution afterward.
DECA has an ambitious goal to save the environment: The project team wants to raise 10 Million USD. If DECA doesn´t reach the softcap, the business plan will be adjusted but not stop the development of DECA Currency Platform. As the token is backed by carbon credits it won’t lose value. If DECA surpasses the soft cap, the carbon credit percentage will be increased in order to support more environmental and social projects.
DECA is a project developed by two Canadian companies: Neetsec International Inc (NSI) & Innovative Hydrogen Solutions (IHS): NSI is an open-source, cybersecurity, and blockchain solutions company founded in 2019 in Aurora, Ontario. Innovative Hydrogen Solutions is a company founded in 2004 and based in Aurora, Ontario; Innovative Hydrogen Solutions develops and commercializes new hydrogen-based energy and power technologies that improve internal combustion engine performance.
Both companies’ main goal is to provide social and environmental solutions with new edge technologies developments. You can see the corporate profile and personnel at neetsec.com and innovativehydrogen.com
DECA ecosystem is made possible through the effort and skills of a unified team. It is a project filled with visionaries, experts, and believers unified by the possibility that there is a better tomorrow. This economy is potentialized by the companies Innovative Hydrogen Solutions Inc. and Neetsec International Inc. in the short term.