►
From YouTube: Regenerati News Hour April 20, 2023 Launch of NCT
Description
Gregory Landua, Johnny Wyles from Osmosis, and Raphaël Haupt from Toucan discuss to official launch of the Polygon/Regen Network cross chain carbon bridge.
B
A
B
A
C
C
D
D
Product
launch,
using
a
bridge
and
IBC
and
three
different
blockchains
to
to
run
some
experiments
with
carbon
liquidity,
fuel,
the
carbon
zero
campaign
in
the
cosmos
corner
of
the
crypto
universe
and
yeah
just
sort
of
talk
about
what
we
just
pulled
off
between
toucan
and
osmosis
and
regen
Network,
and
you
know
what
might
be
coming
next,
so
you
know
I'm
thinking
we
just
get
to
do
a
little
bit
of
a
of
a
retro
on.
You
know
what
it's
been
like
to
make
this
happen
where
things
are
currently
at.
D
You
know
some
of
the
liquidity,
stats
and
retirement
stats,
and
we
can
talk
a
little
bit
about
how
the
bridge
and
the
tech
is,
is
working
and
and
also
spend
a
good
amount
of
time.
Looking
forward
to
what
may
be
coming
down
the
line-
and
you
know
I
think
some
of
that
can
be
concrete
and
we
can
also
speculate
a
little
bit
about
just
you
know
what
this
kind
of
what
this
these
kinds
of
tools
are
going
to
be
enabling
in
the
markets.
D
So
that's
that's
my
idea
and
Roth
and
Johnny.
If
you
guys
have
other
ideas
and
sort
of
topics
that
you
want
to
throw
into
the
mix
by
all
means,
maybe
let's
just
get
started
and
I
think
I'm
gonna
tweet
out
that
we're
here
I'd
encourage
Rafa,
you
and
Johnny
to
also
do
that,
and
we
also
always
get
it's
always
a
little.
You
know
like
about
10
minutes
in
calls
sort
of
start
to
fill
up,
but
in
the
meantime,
I'd
love
it.
A
A
I
think
it's
Gregory
for
setting
the
stage.
My
name
is
Rafael
I'm,
one
of
the
co-founders
and
CEO
at
who
can
token
is
a
infrastructure
protocol
that
is
all
about
moving
carbon
credits
on
chain
and
really
scaling
the
carbon
markets.
So
we
believe
that
web
3
is
derails
on
which
the
future
carbon
markets
need
to
be
built.
A
If
you
want
to
reach
the
goals
of
solving
climate
change
in
the
time
that
we
have
left
and
I
I
said
it
I
think
I'm
personally
super
excited
about
this
about
this
bridge,
not
only
from
like
a
technical
point
of
view,
because
I
think
it's
quite
the
brilliant
piece
of
engineering.
But
Gregory
knows
this.
I've
been
a
big
fan
of
region
network
from
like
from
the
beginning
and
have
been
listened
to
have
been
listening
to
all
the
podcasts
and
so
reading.
A
Network
had
a
bit
a
big
influence
on
me
and
my
journey
with
tuken,
and
so
yeah
I'm
just
excited
to
be
able
to
contribute,
contribute
and
like
see
to
kind
of
region
working
classes
together
and
yeah
excited
Johnny
to
to
get
your
kind
of
you're.
Taking
things
and
like
this
is
a
pretty
beautiful
collaboration
between
between
these
three
projects.
So
I'll
head
it
over
to
pass
over
to
you.
E
Okay,
yeah
I'm,
I'm,
Johnny
I,
am
the
governance
facilitator
for
osmosis
labs
and
towards
the
osmosis
train
and
osmosis
is
a
it's.
It's
a
it's
a
D5
blockchain
that
is
host
to
the
large
decentralized
exchange.
That's
IBC
connected,
so
you
know
lots
of
different
trains
if
you've
not
come
across
IBC
before
it's
completely
different
structure
to
something
like
ethereum
or
polygon.
E
I
yeah
I'm
I'm
really
excited
about
this.
To
be
honest
because
I've
been
with
osmosis
for
about
a
year
now-
and
this
originally
was
passed
before
I
was
actually
working
for
the
team.
This
was
something
that
I'd
kind
of
pursued
as
a
something
I
wanted
to
do.
As
a
community
member
before
I
was
yeah
working
with
the
osmosis
team.
D
D
Yeah
exactly
twitch
the
Twitter
glitch,
so
so
I
kind
of
you
know
rewinding
and
going
back
in
time,
like
you
said,
Johnny
this
this
product
launch
that
just
happened.
This
sort
of
multi-team
bridged
carbon
liquidity
to
serve
offsetting
in
the
cosmos
ecosystem
has
been
an
idea
and
something
that's
been
worked
on
for
more
than
a
year
now
and
and
I
think
one
of
the
things
that
was
always
most
exciting
and
that
made
it
take
so
long
in
a
lot
of
ways
is
one.
D
You
know
this
involves
three
different
communities,
three
different
protocols,
and
at
least
in
the
case
of
you
know,
I
think
toucan
is
maybe
still
pre-public
Community
governance,
but
both
regen
and
osmosis
are
in
a
phase
where
you
know.
Basically,
every
step
of
this
launch
has
gone
through
a
community
governance
process.
Johnny.
Do
you
want
to
talk
a
little
bit
about
the
the
osmosis
Community
governance
process
and
sort
of
like
the
community-owned
liquidity
osmosis
as
a
protocol
owning
and
providing
liquidity,
and
just
some
of
the
concepts
and
roots
of
that
set
up?
E
E
What
can
happen
is
that
you
can
actually
vote
with
those
tokens
on
tax
proposals
and
parameter
changes
directly,
so
a
non-technical
person
can
put
proposals
up
and
vote
on
them
to
kind
of
kind
of
set
the
direction
of
the
blockchain.
So
yes,
pretty
much.
Anyone
can
put
a
governance
proposal
up
as
long
as
they
put
some
tokens
up
as
a
deposit
and
then
everyone
that
has
token
States.
They
can
then
vote
on
that.
E
So,
in
this
case,
I
think
we
we
put
it
on
for
description
for
a
few
weeks
and
it
was
around
a
year
ago,
so
you
don't
have
to
bear
in
there.
Don't
quite
remember
the
details
now
and
well:
yeah
we
kind
of
had
feedback
on
how
much
liquidity
that
we'd
want
to
have
and
how
we
wanted
to
carry
this
anywhere
else.
Another
Quirk
is
Cosmos.
E
E
Community
voted
to
spend
some
tokens
who
purchase
NCT,
which
would
then
be
had
with
other
tokens
and
to
provide
a
representative
token
of
that
liquidity
and
then
that
token,
that
represents
that
liquidity
returns
back
to
the
community
pool
of
the
osmosis
protocol.
So
what
will
happen
now
is
that
we've
basically
got
protocol
and
quality
of
NCT
in
osmosis
and
that
isn't
going
anywhere
because
it
could
be,
it
could
be
voted
to
be
removed.
D
Right
exactly
so
so
the
the
concept
here
that
I
really
love
is
the
osmosis
Community
sort
of
pre-purchasing
a
bunch
of
carbon
and
hosting
it
so
that
other
protocols
can
access
that
liquidity
to
offset
themselves
through
the
carbon
zero
program,
which
I'll
talk
a
little
bit
about
and
by
doing
by
providing
that
service.
The
osmosis
Community
can
generate
fees
and
then
use
those
fees
to
continue
offsetting
itself
in
perpetuity.
D
So
so
that's
kind
of
that's
been
the
concept
it's
really
exciting,
so
I
I
kind
of
want
to
just
for
a
second
shift
back
over
to
you
Rafa
and
give
us
a
little
bit
more
of
an
overview
of
because
toucan
is
operating
on
polygon,
operating
on
cello,
now
regen
and
ncts
on
osmosis.
So
you
guys
are
really
operating
as
kind
of
a
multi-chain
carbon.
You
know
liquidity
bridge
and
provider.
D
A
The
the
way
that
I
look
at
ncts-
it's
it's
really
like
it's
really
a
building
block
like
a
carbon
money.
Lego.
If
you
want-
and
it
is
it's
the
it's-
you
know
it's
probably
one
of
the
easiest
ways
to
date-
to
encode
offsetting,
for
instance,
into
the
code
into
your
own
protocol
into
to
hold
it
as
a
treasury
asset
Etc.
So
my
personal
belief
is
that
you
know
I
is
that
D5
is
for
D5
to
really
become
like
the
backbone
of
the
the
future
Financial
system.
A
I
believe
that
D5
needs
to
solve
for
a
few
problems
that
the
existing
Financial
system
could
not
not
solve
for
and
I
think
the
the
fact
that
our
ex
like
extract
the
financial
system
today
has
not
managed
to
actually
transform
itself
and
be
more
regenerative.
I
think
this
is
ultimately
an
opportunity
for
the
web
free
community
to
build
a
better
system
that
by
Design,
is
a
generative
and
so
yeah.
A
So
it
just
makes
a
lot
of
sense
for
for
NCT
to
be
on
the
D5
Chain
by
cosmosis
and
entity
can
also
be
found
in
polygon.
As
you
said,
we're
also
live
on
cello,
so
we
have
essentially
two
two
different
Bridge
protocols
right
now
that
we're
that
we're
using
to
be
using
hyperlane
on
the
polygon
cello
side
to
to
connect
those
two
chains
and
then,
with
the
region
team,
there's
been
like
a
kind
of
a
self-developed
bridge
protocol
between
between
region
and
and
polygon.
A
So
yeah,
that's,
that's
kind
of
the
the
current
state
of
like
entity
on
chain
I'll.
Take
a
quick
second
like
what
what
is
entity
so
NCT,
essentially
is
a
is
a
a
pool
token
from
from
toucan's
carbon
pool,
so
carbon
pools
essentially
are
similar
to
The
Baskets
at
the
basket
module
in
on
region
where
anyone
can
deposit
a
tc2
which
is
a
tc2,
is
kind
of
like
an
equal
credit.
A
So
it's
like
a
uniquely
identified
carbon
credit
that
comes
with,
like
all
sorts
of
attributes
and
data
attached
to
it,
and
so
anyone
can
deposit
a
a
t-shirt
into
a
pool
if
it
matches
the
criteria
that
is
set
forth
by
the
pool
in
the
case
of
NCT.
This
criteria
is
that
the
carbon
credit
needs
to
be
Niche
based
and
vintage
2012
or
newer,
and
right
now
the
only
credits
that
are
available
are
are
from
the
Vera
carbon
Center.
A
A
A
lot
of
these
credits
were
not
were
not
accurately
priced,
so
we
switched
like.
Essentially
we
we
spun
up
this
NCT
poor.
We
worked
together
with
regen
Moss,
the
bitco
bitco
WG
group,
to
define
the
the
criteria
around
NCT
and
then,
basically,
all
I
came
together,
bootstrapped
some
of
the
liquidity
and
so
yeah.
As
you
said,
Gregory
this
didn't
have
been
the
making
for
for
a
long
time,
and
now
you
know,
after
the
support
that
region
gave
toucan
to
really
help
bootstrap
to
NCT
over
in
polygon.
D
Awesome,
thank
you
so
now
kind
of
a
spicy
spicy
topic
there's
been
a
lot
of
news,
essentially
kind
of
like
pointing
out
some
of
the
flaws
of
some
of
the
credits
and
crediting
approaches
that
are
included
in
the
NCT
approach
and
I'm.
Curious
I
tend
to
think
that
the
way
to
address
that
is
to
create
a
new
is
to
essentially
focus
our
energy
on
creating
new,
better
Carbon
assets
and
creating
new,
more
differentiated
pools
and
baskets.
D
That
can
allow
the
differentiation
and
sort
of
like
push
the
market
towards
higher
quality,
while
kind
of
applauding
the
first
generation
of
assets
for
what
they
are
is
sort
of.
You
know
an
incremental
but
flawed
step
in
in
the
right
direction.
I'm
curious
is
that
your
take
as
well
Rafa
and
you
know,
and
what
are
your
thoughts
about
sort
of
higher
quality
pools
and
the
relationship
between
different
pools
or
baskets
yeah.
A
If
you
can
say
anybody,
who's
interested
can
kind
of
go
back,
can
go
back
there,
but
so
so
I'm
with
you
that
the
the
reality
is
that
we
cannot
fully
rely
on
carbon
standards
to
do
to
settle
to
to
provide
us
with,
like
a
minimum
threshold,
kind
of
quality,
right
and
I.
Think,
especially
in
the
last
year
again,
especially
rep
plus
projects
have
have
taken
a
big
hit,
because
more
and
more
data
has
been
like
came
became
public.
A
That
a
lot
of
the
projects
that
are
certified
under
the
red
plus
standard
or
like
under
the
red
plus
methodology
overestimate
the
amount
of
carbon
credits
that
have
been
that
have
been
issued
by
a
given
project.
Now
I
think
there's
two
ways
to
go
about
this,
so
the
first
one
is
again:
if
you
understand
the
that
a
carbon
credit
essentially
represents
is
supposed
to
represent
one
ton
of
carbon
that
has
been
reduced
or
removed
from
the
atmosphere,
I
think
it's
fair
to
say
that
we
cannot
guarantee,
and
this
is
not
you
know
it's
not.
A
We
like
this
is
just
me
as
like
an
interest
like
two.
Can
you
know
speaking
as
an
infrastructure
provider,
we
cannot
guarantee
that
a
carbon
credit
right
now
that
every
carbon
Credit
in
NCT
actually
has
contributed
to
the
reduction
of
one
ton
of
carbon
emissions.
So
I
think
that
that's
just
what
the
that's
pretty
clear
to
date,
given
that
you
know,
given
the
reports
that
have
come
out
Etc
so
like
quite
frankly
like
does
it
mean
that
every
token
and
entity
is
like
worthless?
A
A
This
is
far
from
perfect,
but
I
think
it's
the
is
it's
a
it's
a
good
start
and
it
is
still,
it
still
has
the
utility
of
any
like
carbon
credit,
just
maybe
not
like
100
of
it,
and
unfortunately
this
is
like,
if
you,
if
you
look
at
rating
rating
projects
like
b0,
Etc,
I,
think
only
seven
percent
of
all
the
credits
that
they
have
rated
got.
This,
like
high
likelihood
of
being
a
full
ton
of
carbon,
has
been
removed
or
reduced.
A
So
I
think
this
is
like
just
a
general
advice
when
you,
when
you
deal
with
carbon
credits
and
unfortunately,
we're
dealing
with
very
intricate,
very
difficult
science
right,
because
we're
dealing
with
projects
in
the
ground,
the
data
is
really
hard
to
get.
There's
corruption.
There's,
like
you,
know
it's
not
always
easy
to
know.
What
is
what
is
true,
what
is
not,
and
so
I
think
that
treat
like
being
cautious
a
bit
when
you
look
at
environmental
assets
from
that
sense
or
from
that
lens
is,
is
always
welcome.
B
D
D
We,
you
know
we're
going
to
get
our
offset
estimates
we're
going
to
spend
150
and
either
will
you
know
and
we'll
do
like
a
mix,
a
portfolio
mix
where
we'll
buy
a
spread
at
different
prices
and
maybe
reinvest
a
little
bit
in
Innovation
or
something
I
mean.
Does
that
hold
water
to
you,
Rafa
and
and
kind
of
just
curious?
What's
your
personal
offsetting
approach,
you
know
like
for
your
family
if
you
just
over,
buy
and
retire
at
you
know,
you
know
10x
or
what?
How
do
you
deal
with
that
uncertainty?
A
That's
really
good
question,
so
I
I
personally,
don't
think
that
offsetting
itself
is
the
most
interesting
use
case.
Anyways
and
I
know
that
the
design
might
sound
weird,
because
what
carbon
credits
are
most
used
as
today
is
essentially
some
polluter
measuring,
calculating
the
amount
of
emissions
that
the
amount
of
like
negative
externalities
that
they
produce
and
then
buying
carbon
offsets
to
match
that
and
call
themselves
carbon
neutral
I.
Don't
think
this
is
the
most
I.
Don't
think
this
is
good
enough.
A
A
So
we
already
have
too
much
carbon
in
the
atmosphere.
That's
what
I'm
trying
to
say
so
I
think
in
any
in
any
situation.
I
think
it's
much
more
interesting
to
think
about,
as
you
said,
is
the
amount
of
money
that
you
direct
towards
removing
or
reducing
your
emissions,
because
the
reality
is
that
not
every
business
has
the
same
carbon
intensity.
So
let's
say-
and
this
is
true
for
most
of
the
tax
like
Tech
in
immersive-
attack
Pro
like
the
protocols,
the
even
the
companies-
they
don't
really
have
high
emissions.
A
A
Think
it's
much
more
interesting
to
think
in
terms
of
like
actual
contribution,
so
money
spent
on
climate
action
right
and
this
and
then
we're
getting
closer
to
like
a
taxation
or
like
a
voluntary
carbon
tax
where
you're
like
okay,
like
I'm,
saying
like
one
percent
of
our
Revenue,
goes
towards
that
right
and
then
I'm
with
you
is
like
okay.
How
do
you
spend
this?
A
One
percent
right
and
I
think
taking
a
portfolio
approach
is
is
really
good
is
to
say:
okay,
like
I'll,
take
some
of
that
money
and
put
it
into
like
I'll
call
them
like
the
moonshot
projects
right.
So
this
might
be
like
really
Advanced,
like
ecosystem
restoration
on
the
ground
with
local
communities.
That,
like
you,
know
like
very
small
projects
that
might
be
still
at
the
beginning,
it
might
need
a
financing
which
is
to
to
get
them
off
the
ground.
A
This
might
be
like
a
CDR
like
Tech
based
carb
removal
projects
that
you
know
are
like
closer
to
a
thousand
dollars
a
ton
right
now,
because
they're
so
early
and
they're,
like
scaling,
scaling
path
and
and
so
I
think
Distributing.
The
money
that
you
spend
on
environmental
impact
across
the
board,
I
think
is,
is
right.
Now
the
kind
of
most
I
I
say
the
safest
and
probably
also
the
most
impactful
approach.
So
look
the
my
you
know.
You
asked
me
to
just
finish.
A
You
ask
me
about
my
individual
footprint,
like
my
individual
footprint,
as
in
like
it's
so
small
that
I
can
easily
over,
like
I,
can
easily
do
like
a
10x
of
that
with
NCT
I
have
personally,
like
you
know,
worked
with
like
carbon
carbon
removal
companies
just
because
I'm
curious
and,
like
so
I
think
you
know
it's
just
for
me.
It's
more
of
like
playing
around
but
I
think
that
the
the
impact
that
we
can
have
is
like,
as
organizations,
obviously
is
much
bigger
than
than
the
impact
that
we
have
that
we
have
personally.
A
That
is
for
like
what
I
mean,
like
looking
at
carbon
credits,
right
I
think
the
impact
that
we
can
have
on
decarbonization
like
thinking
about
okay.
So
how
do
we?
How
do
we
behave?
What
do
we
buy?
How
do
we
eat
Etc
I?
Think
the
impact
there
obviously
is
is
much
bigger
than
the
decision
of
like
okay,
which
offset
am
I
gonna
buy
right.
So
that's
that's.
How
I'm
thinking
about
it.
D
You
know
how:
how
are?
How
are
we
thinking?
Is
this
something
I
guess
the
question
would
be,
for
you
is
to
what
degree
is
it?
Is
this
sort
of
like
something
that
region
Network
should
be
thinking
about
and
giving
guidance,
or
is
this
something
that
should
be
a
debate
and
a
conversation
and
opinions
expressed,
for
instance,
of
the
osmosis
Community
or
other
protocols
or
projects
or
businesses
that
are
offsetting
themselves.
E
Because
again,
this
is
quite
a
new
field,
but
also
we
had
difficulty
finding
what
the
actual
carbon
offset
required
was
because
we
we've
got
a
lot
of
validators,
but
they
all
run
on
different
types
of
machines.
They
all
use
different
power
sources.
Unless
you
ask
every
single
one,
you
can
only
make
an
estimate,
so
that
was
quite
varied
as
well,
so
the
the
way
that
we've
ended
up
approaching.
E
It
is
saying
that
we'll
take
the
worst
case
scenario
for
our
usage
and
just
say:
we're
going
to
basically
make
a
conscious
efforts
towards
allocating
some
arcating,
some
funds,
whatever
whatever
we
get
from
the
carbon
Market
likely,
will
be
what
is
retired
in
the
future
and
yeah.
Obviously,
I
can't
guarantee
that,
because
it's
in
town
of
the
government
and
the
teachers
to
decide
what
to
do,
but
that's
the
way
that
it
would
make
sense
for
me
to
do
and
that's
the
way
that
I'd
be
pushing
for
in
the
future.
D
Right
so
this
is
sort
of
an
interesting.
This
is
an
interesting
case
in
which
and
I
think
you
see
this
happening
across
the
business
World
in
which
businesses
or,
in
this
case,
Community
governed
protocol.
If
you're
an
early
adopter
and
you
make
a
a
quick
commitment
and
you
allocate
a
chunk
of
capital,
you
may
actually
end
up
sort
of
having
an
economic
benefit
from
the
process
because
you
are
providing
offsetting
Services
essentially
by
having
that
liquidity
over
time.
So
you
can
sort
of
Auto
offset
and
maybe
even
have
an
economic
gain.
D
I
guess
the
question
is,
do
you
you
know?
Do
you?
Are
you
strict
about
reallocating
all
of
that
economic
gain
to?
Actually
you
know
doing
things
that
you
know,
may
improve
accuracy,
precision
and
quality
for
the
larger
market?
You
don't
need
to
answer
that.
Just
sort
of
like
a
philosophical
question.
I
have
yeah
yeah.
E
D
E
D
Right
well,
I
think
then,
there's
a
there's,
a
bigger
question
there
around
again,
this
sort
of
like
circles
back
to
and
and
I
mean
I
just
want
to
say,
I,
don't
feel
competent
or
capable
as
an
individual,
to
make
a
decision
like
this,
you
know:
do
we
create
new,
baskets
and
pools
that
represent
new
generations,
or
do
we
upgrade
the
existing
baskets
and
pools?
You
know,
I've
been
thinking
a
lot
about
mechanisms
to
clean
out
the
the
vintages
like
older,
vintages
and
vintages
of
of
NCT
that
are
shown
to
underperform
from
their
claims.
D
D
That
I
mean
that
gives
me
a
lot
of
hope.
You
know,
and
especially
this
is
what's
exciting,
because
toucan
and
osmosis
and
region
are
all
pretty
Innovative
communities.
I
see
that
there's
all
of
this
space
you
know,
could
we
be
air
dropping
you
know
if
somebody's
been
doing
offsetting
for
a
little
while?
Could
we
airdrop
them
sort
of
like
a
free
year
offset
subscription
with
higher
quality?
D
D
The
the
the
people,
the
protocols
and
individuals
who
are
sort
of
like
taking
the
risk
and
leaning
in
and
saying
like
yes
like
this,
is
an
important
activity
and
youth
to
to
have
to
place
a
positive
value
on
regeneration
activities
to
to
internalize
the
cost
of
carbon
emissions
into
businesses
in
a
proactive
way
so
that
we
can
reorient
our
economy.
These
are
really
important
activities.
D
Meanwhile,
we
have
all
this
work
to
do
you
know
the
the
real,
like
you
know,
rolling
your
sleeves
up
and
getting
in
there,
how
you
know
which
we're
six
years
into
it
region
and
I-
think
just
about
to
create
the
third
generation
of
sort
of
tokenized
carbon
credits.
Like
the
first
NCT
is
the
first
generation
and
it
took
us
a
while
to
build
interoperability
and
liquidity
and
sort
of
like
and
utility
around
that
first
generation.
D
The
second
generation
I
think,
are
these
two-way
Bridges,
with
more
independent
Registries
like
we
have
with
City
forest
credits,
where
there's
these
really
cool
high
quality.
You
know
Place,
based
in
the
United
States
offsets
and
there's
a
two-way
Bridge
agreement
with
the
registry,
and
then
the
third
generation
I
think
are
these
sort
of
fully
blockchain
native
Community
governed
standards,
which
the
first
generation
of
those
is
coming
into
regen.
You
know
in
the
next
month
there's
going
to
be
several
credits
moving
into
the
marketplace,
which
is
very
exciting.
D
You
have
all
the
metadata,
you
know
all
the
governance,
it's
it's
sort
of
gone
through
a
full,
fully
transparent
on-chain
process
and
only
exists
as
an
on-chain.
So
you
know
the
relay
the
market
relationship
between
those
three
generations.
There's
a
price
difference.
You
know
the
price
for
NCT
is
a
little
under
two
dollars.
D
C
E
A
Appreciate
it,
no
Greg
I
just
wanted
to
I
think
this
is
an
extremely
interesting
idea.
You
should
also
think
of
how
this
liquidity
that
is
now
available
can
can
help
bootstrap
these,
like
these
smaller,
smaller
or,
like
maybe
less
liquid
new
assets
that
are
coming
on
chain,
and
this
is
also
why
I'm
excited
about
this
connection
between,
like
two
human
region
is
because
you
know
this
goes.
A
So
I
think
that
there's
definitely
a
big
opportunity.
Space
here
kind
of
new
ways
to
kind
of
cross
cross
like
support
between
these
between
these
different
environmental
assets
and
also
maybe
making
it
easier
for,
like
the
webview
community,
that's
maybe
less
nerdy
on
the
carbon
side
to
really
consume
something
that
is
like
easy
to
understand
and
spreads
the
impact
impact
across
multiple
initiatives.
E
Yeah
mine
was
completely
out
there.
It
was
just
when
you
were
talking
about
the
different
metadata
involved
in
the
ncts:
I'm,
not
an
nft
person,
but
it
reminded
me
of
nfts
and
the
floral
price,
where
you'd
have
something
like
NCT
as
a
lower
priced
asset
and
it's
just
anything
it's
the
basket
that
contains
every
single
project.
E
And
then
you
have
these
different
projects
that
have
the
different
qualities
and
people
might
pick
them
out,
or
you
know
they
might
decide
to
merge
them
into
the
bundle
and
which
might
change
the
then
the
the
floor
price
of
the
entity
asset
I,
just
thought
that
was
a
it's
kind
of
a
bit
of
a
parallel.
Maybe
I,
don't
know
whether
you
can
take
things
out
of
NCT
or
add
them
in
I'm,
not
entirely
sure
I
have
a
minting
process
works.
A
Take
a
credit
that
is
compatible.
You
basically
drop
it
in
the
pool
you
get
entity
and
at
any
point
in
time
you
can
now
burn
the
entity
to
to
get
any
of
the
credits
out.
So
it's
a
bit
like
it's
very
similar
how
you
how
you
said
like
some
of
these
you
know
FTX
or
something
like
that.
You
know
it
doesn't
run
like
that,
but
basically
the
idea
of
creating
unified
liquidity
for
for
for
four
different
for,
like
non-fungible
or
like
semi-fungible
assets,
which
I
think
carbon
credits
fall
into
this
semi-fungible.
D
B
C
D
D
Yeah,
the
next,
the
next,
the
next
idea-
and
you
know
the
next
idea-
is
really
just
I
I've,
been
thinking
what,
if
we
just
put
the
social
price
of
carbon
in
in
the
marketplace
and
allowed
people
to
choose
Marketplace
or
social
price,
and
if
you
chose
the
social
price,
then
you
get
dropped
in
nft.
That
represents
that
you
made
that
choice
and
the
the
Delta
between
the
two
goes
into.
D
D
So
you
can
sort
of,
like
you
know,
make
it
easy,
because
I
think
the
cognitive,
the
Big
Challenge
we
have
is
that
the
cognitive
load,
because
it's
also
new,
is
quite
high
for
people
to
try
to
discern
what
the
hell's
going
on
so
to
the
degree
to
which
we
build
some
tools
that
make
it
just
simpler
to
engage
and
to
have
fun
and
innovate.
I
think
you
know,
will
win
I'm
curious,
Johnny,
remind
me,
I,
think
osmosis
has
nfts
live
on
osmosis
right.
E
D
Okay,
interesting
well,
you
know,
and
stargaze
does
for
sure
anyway,
there's
this
there's
an
opportunity
for
a
lot
of
playfulness
here
which,
for
those
of
you
in
the
audience,
I
would
certainly
invite
I
I
think
there's
some
really
cool
sort
of
like
Community
Driven
product
opportunities
to
kind
of
play
in
this
space.
That's
open
around
this
idea,
in
which
we,
you
know,
we
sort
of
have
a
floor.
We
sort
of
have
a
floor
asset,
it's
a
first
generation
it
has
it
has.
It
has
its
challenges,
but
also
there's
liquidity.
There's
utility
there's!
D
You
know
it's
it's
it's
there,
which
is
amazing,
which
is
like
from
zero
to
one
right
and
then
there's
all
of
these
opportunities
as
the
these.
Next
subsequent
generations
of
credits
are
coming
to
sort
of
like
fuse,
incentivize
rebundle
and
create
positive
Cycles
so
and
I'm
particularly
excited
I
I
have
the
idea
that
there's
a
particularly
Rich
intersection
between
you
know:
toucan
regen,
osmosis
stargaze.
D
A
Yeah
I
just
wanted
this
exactly
the
theory
of
change
that
we
have
a
Duke
and
it's
like
the
the
you
know.
We
have
such
a
limited
amount
of
time
to
to
solve
climate
change
and,
unfortunately,
to
date
still
it's
pretty
hard
for,
like
the
smartest
people
to
really.
You
know
like
for
everybody
to
to
work
on
anytime
right.
A
Let's,
let's
go,
let's
experiment:
let's
see
what
the
community
comes
up
with:
let's
see
what
like
people
refactor
these
these
kind
of
engine
carbon
building
blocks
and
like
turn
them
into
something
that
we
might
not
have
seen.
And
you
know,
there's
there's
been
already
quite
a
few
instances
and
experiments
that
have
been
done
with,
like
also
at
the
intersection
of
nfts,
which
I
do
think
are
are
very,
very
interesting
and
I'm
kind
of
yeah
just
curious
to
see
what
what's
gonna.
A
What's
gonna
come
next
and
I'm,
you
know
if,
in
like
a
few
years,
we
look
back
on
this
and,
like
somebody
just
created
the
next
version
of
I,
don't
know
it's
something.
It's
just
something
amazing
that
we
can't
currently
imagine
you
know
if
if
we
played
a
role
in
this
I'm
going
to
be
really
really
happy,
so
that's
the-
and
this
is
you
know.
This
is
why
it
is
important
to
give
access
to
to
to
carbon
as
a
building
block
to
like
every
community
on
chain.
D
E
E
E
I've
not
got
it
since
honor,
no
I
do
sorry
yeah,
so
there's
been
105
000
of
volume
of
NCT
I'm,
not
sorry,
no
150,
000
of
volume
volume
in
NCT
since
launch
and
there's
currently
around
a
hundred
thousand
dollars
a
liquid
sorry,
200
000
liquidity,
which
is
around
a
hundred
thousand
NCT
on
the
Chain.
So
I
think
some
people
are
trading
it
back
and
forth
rather
than
you
know,
buying
and
retiring,
but
yeah
definitely
definitely
seeing
a
good
amount
of
adoption.
D
Oh
well
and
I
do
I
was
looking
at
our
in
our
at
the
beginning.
On
Monday
we
had
looked
at
some
stats
because
you
have
to
look
at
regen's
chain
for
retirement,
stats
and
I.
Think
we're
sitting
on
Monday
around
30,
000,
tons,
retired
so
far
and
I
think
they're
still
outstanding
carbon
zero
commitments
from
about
five
chains,
so
I
think
there's
you
know
a
wow,
something
like
20,
000,
more
or
25
000,
more
tons
that
are
going
to
get
retired
out
of
that
yeah.
D
D
D
And
kind
of
like
with
a
crazy
origin
story,
but
they
can
start
getting
yeah
all
sorts
of
I
I
I'm.
Guessing
some
people
are
going
to
do
some
cool
things
on
in
a
on
on
stargaze.
You
know,
maybe
I
I
just
have
this
idea:
I
love
the
bad
kids
Community.
Maybe
we'll
do
some
weird
carbon
stuff
with
the
bad
kids
Community,
or
something
what
Raphael
bad
kids
is
kind
of
like
the
cosmos
version
of
I,
don't
know
of
crypto.
D
D
You
know
I'm
wanting
to
ground
it
kind
of
in
this
particular
in
you
know,
in
NCT,
but
I
think
we
can
obviously
we're
all
sort
of
saying
this,
this
blossoms
into
something
much
bigger,
but
you
know
and
not
price
predictions,
but
just
what
is
happening
in
this
world
of
experimentation
and
engagement
with
building
on-chain,
carbon
utility
and
liquidity,
what's
happening
in
six
months
and
then
what's
happening,
and
you
know
another
18
months
after
that.
So
at
the
at
the
like
two
year
mark
Rafa,
you
go
first.
A
A
What
else
I
think
that
well
I
hope
that
we
can
kind
of
expand
and
get
the
utility
of
it
Beyond
like
Beyond,
what's
possible
today
and
like
really
liked
the
idea
of
you
know
what
you
said
earlier
about
thinking
how
we
can
potentially
bundle.
You
know
create
more
composite
products
that
that
spread
impact
across
different
initiatives,
so
I
could
see
that
I
could
see
that
happening.
Maybe
in
six
months
yeah,
you
know
on
the
18-month
time
frame.
A
What
I
do
hope
to
see
is
you
know
similar
to
what
Johnny
said
earlier
is
like
if
we
can
anchor
entities
like
this
this
floor,
but
it's
and
but
make
this
liquidity
useful
so
again
like
how
can
this
liquidity
bootstrap,
like
other
sources
of
of
Supply?
How
can
this
liquidity
you
know
give
access
to
you
know?
Is
there
a
way
where
you
can
maybe
deposit
a
a
credit
entry?
A
A
So
yeah
I
would
say
that
this
is
the.
This
is
kind
of
the
the
what
jumps
to
mind
and
obviously
what
I
hope
is
that,
within
18
months,
a
lot
of
protocols
will
have
automated,
like
the
like
diversion
of
of
value
towards
regeneration
and
I'm,
like
specifically
not
calling
it
offseting,
because
you
know,
as
you
said,
Johnny
is
like
it's
so
difficult
to
like,
especially
for
for,
like
blockchain
success,
their
exact
carbon
footprint
and
it
it
might
cost
you
a
lot
of
money
to
get
to
that
exact
number.
E
You
know
starting
on
one
chain
going
to
another
one
and
then
doing
something
on
that
phone
and
moving
onto
a
third
chain,
and
that's
already
a
thing
now,
so
we
I
think
that
we'll
see
contracts
that
as
part
of
the
contract
they
purchase
and
retire
NCT,
that's
kind
of
yeah
I'm,
hoping
that's
the
case
in
six
months
that
it's
kind
of
an
offset
on
your
transaction.
So
that's
kind
of
like
live
track.
It
live
offset.
I'm,
sorry,
live
regeneration
for
every
every
transaction
that
you
make
with
a
protocol.
E
E
E
I'd,
say
something
where
you
buy
NCT
and
hold
it,
and
because
you're
holding
it
you're
kind
of
registering
an
interest
and
that
the
funds
that
you've
used
to
to
purchase
and
hold
it
then
are
diverted
towards
a
company
that
can
innovate
in
the
space
and
again,
don't
know
how
it
would
happen.
But
that's
the
kind
of
thing
that
I
think
we
could
probably
see
in
18
months.
E
D
A
loan
with
like
a
lone
Perpetual
loan
system
that
yeah
that
then
you
know,
is
sort
of
like
a
forward
contract
for
some
future
carbon
and
and
but
also
frees
up
liquidity.
Now,
some
so
so.
In
six
months,
I
think
there
there
seems
like
there's
some
consensus,
that
there's
going
to
be
some
significant
Innovation
for
automated
and
programmatic
offsetting,
where
we
have
blockchains
and
pro
and
smart
contracts
where
you're
just
sort
of
saying,
like
per
transaction,
we're
just
gonna,
buy
this
amount
and
retire
it
it's
going
to
be
automated.
D
Maybe
there's
some
other
cool
features
that
that
unlocks
as
well,
and
then
you
know
in
two
years
from
now
another
18
months
after
that,
there's
going
to
be
some
significant
Innovation
on
how
to
leverage
this
sort
of,
like
you
know,
Proto
Proto,
carbon,
that
is
NCT
and
the
liquidity.
That's
built
there
to
be
bootstrapping
and
fund
funding
innovation
in
the
next
generation
of
things
in
creative
ways,
cool
I
love,
it
yeah
awesome!
Well
we're
just
coming
up
to
the
top
of
the
hour.
Raphael
and
Johnny
I'm
very
grateful
for
your
time.