Help us in building cDOV an elastic supply token pegged to the price of carbon with yield capability

[mattsmithies]

Welcome, Gitcoiners! 👋

We are initially setting the price of this bounty to 3,500,000 DOV.

At DOVU we have been working hard carving our future and designing new methods to how we can store carbon as a digital asset, or more precisely how can we store the potential offset value of carbon as a speculative asset.

The cDOV token represents a new asset type in DeFi where a single cDOV will always equal 1 tonne of carbon.

In order to achieve this, the cDOV will be an elastic supply token (you can tell through our fork of AMPL) using a carbon price oracle, furthermore, we wish to add a capacity for passive-income yield for living a carbon-neutral life. Our vision is for the yield returns to be maximized so that large holders of the token are disincentivized from their tokens.

The average carbon consumption for an individual is 4.8 tonnes a year. In this case, holding 4.8 cDOV will entitle a user to receive a 100% APY, this will evolve into an effective mechanism for living a verified carbon-neutral life. If the price of a tonne of carbon increases users will be prompted to top-up their balance but this may not be required due to the market forces in a DEX.

Without going into detail phase of our plan is to create a carbon market, extended from Ocean, where the yield can be deployed against carbon offsetting projects.

Have a read of our newest whitepaper

https://blog.dovu.dev/dov-v2-whitepaper-cdov/

In particular, have a look at the The DOVU carbon token flow section.

The cDOV token is building upon the works from AMPL and Rebase Capital, feel free to use any code from those projects.

In terms of deliverables, expect that these items are going to be a combination of both Solidity and JS.

• Implementation of a Carbon Price oracle and a Carbon Footprint oracle upgradeable contracts.
• Implementation of the latest carbon price data feeds using a range of pricing from different sources.
• Implementation of a data feed oracle for the average carbon footprint of an individual.
• Design of an interface and example base contract for an upgradeable passive yield mechanism.
• Documentation of these contracts and the code in general.
• Open communication, a solid handover, and feel free to question us at any time.

If you have experience in creating external adaptors and submitting to external nodes to chainlink that will be a huge benefit as we move to use decentralized oracles.

You'll be working with me and I will get on a couple of calls with you to learn from your work and your approach. I will be researching data sources for APIs for both carbon pricing and carbon footprint data to support you.

Our plan at DOVU is to bring more community members to work with our technology.

Thank you.

[gitcoinbot]

Issue Status: 1. Open 2. Started 3. Submitted 4. Done

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This issue now has a funding of 3500000.0 DOV attached to it as part of the dovuofficial fund.

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[developerfred]

Hi! @mattsmithies, Are you okay? Can I build this Token is Yieldfarm's contract?

[mattsmithies]

@developerfred Thank you for dropping by. We are excited about what you can bring.

Currently, as you can see, we have based the token from Ampleforth as the core rebasing functionality is vital with carbon oracles. The AMPL contracts have an incredible test suite.

Secondarily the "passive yield" functionality effectively acts as an action after a given rebase. I'm happy if you use whatever open source contracts for yield you feel would fit but it needs to be upgradable.

Let me know if this makes sense and we can get on a video call if you would like to discuss further before you start. 🔥

We'd expect to see some tests and documentation.

[developerfred]

@mattsmithies I have already worked with an AMPL fork, I have experience and I am also developing a protocol that is an aggregator of income strategies. I believe that eating this knowledge I am fit for construction.

But I assume that I'm a little bit out of the carb market, I can't imagine where I can get data for the oracle contract. I did a quick search and saw that there are clothing brands and airline companions that have the carbon ballast registered in their internal blockchains. I don't know if we have access to that data source.

Regarding the rebase team according to the events is a quiet feature to be done.

About our call, I am finishing some issues I believe I have an schedule on Friday 29

[mattsmithies]

@developerfred ok, thank you for the message. Having a video chat on Friday would be best for me also, excited to speak with you.

Schedule a call with me on friday 🚀

To give an idea of carbon markets and pricing I am expecting this to be an ongoing internal task to aggregate enough data points and find the median, in terms of updating APIs that an external adaptor for chainlink would consume. With that said for v1 I would be happy if we updated the contract with a carbon price daily as more of a centralized approach.

This example is of the kind of pricing we are looking at:

https://ember-climate.org/data/carbon-price-viewer/
https://uk.investing.com/commodities/carbon-emissions

So any other sites and services that display a similar price would be used, but for the most part, the focus is around using EU ETS carbon market pricing.

My aim is to support you in finding additional sources of data that we can feed into the different APIs and oracles.

As an example, the average yearly carbon footprint per person is 4.8 tonnes, and while there may not be real-time data source we'll probably just manually update it on a monthly basis in the short term.

Our aim for this project is for the foundation contract and oracle in place, so that we can extend it if needed.

[developerfred]

@mattsmithies Got it, perfect, we can make our oracle available for other projects to consult. It is also a great way to build an ecosystem and have the power to adjust the price of carbon emissions. But I understand that for version one we can make a proxy contract that we update over time.

[vporton]

I want to do the bounty.

ee also my existing project: https://github.com/vporton/carbon-flow (fully ready but not audited). We can use its "retired carbon" token (or if you insist, another token) as the "base" token of DeFi passive yield.

My plan:

• Use Tellor for oracles.
• I will make a smart contract that will lock my retired carbon token in exchange for another my ERC-20 token I am to create easily. That another token could be then automatically (without further user interaction) exchanged (e.g. using a Uniswap smart contract) to an existing DeFi token (e.g. to any aToken). This is exactly a passive yield mechanism on carbon. The advantage is that we can use any DeFi token as the system of our passive income. Sadly, ERC-1155 is not yet enough adapted, so we need to do on ERC-20, but to replace it with ERC-1155 in the future is not a hard problem. That's easy. I will surely do it. $3150 is a good payment, I will do it quickly.

I know Solidity and several frameworks for building compiling and testing Solidity + UI. I have done many projects on GitCoin as you see in my profile.

[mattsmithies]

@vporton @developerfred I'm going to have an informal chat with the both of you tomorrow to discuss the project. My hope is that we can make a decision with who to move forward with soon after. Thank you for your interest.

[developerfred]

Perfect @mattsmithies, thanks for quickly feedback!

[gitcoinbot]

Issue Status: 1. Open 2. Started 3. Submitted 4. Done

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Workers have applied to start work.

These users each claimed they can complete the work by 265 years, 9 months from now.
Please review their action plans below:

1) erich0123 has applied to start work (Funders only: approve worker | reject worker).

Hello, I am interested in this idea. I have experience with building Ethereum smart contracts and Dapp frontends using web3. I am also a UI designer, so I could design a basic frontend as well. I would like to learn more about the project, as I am unsure how holding cDOV can be beneficial.
2) developerfred has applied to start work (Funders only: approve worker | reject worker).

I am happy to build this token and contribute to the project.
3) vporton has applied to start work (Funders only: approve worker | reject worker).

See also my existing project: https://github.com/vporton/carbon-flow (fully ready but not audited). We can use its "retired carbon" token (or if you insist, another token) as the "base" token of DeFi passive yield.

My plan:

• Use Tellor for oracles.
• I will make a smart contract that will lock my retired carbon token in exchange for another my ERC-20 token I am to create easily. That another token could be then automatically (without further user interaction) exchanged (e.g. using a Uniswap smart contract) to an existing DeFi token (e.g. to any aToken). This is exactly a passive yield mechanism on carbon. The advantage is that we can use ANY DeFi token as the system of our passive income. Sadly, ERC-1155 is not yet enough adapted, so we need to do on ERC-20, but to replace it with ERC-1155 in the future is not a hard problem.

That's easy. I will surely do it. $3150 is a good payment, I will do it quickly.

I know Solidity and several frameworks for building compiling and testing Solidity + UI. I did many projects on GitCoin as you see in my profile.
4) mccrearyd has applied to start work (Funders only: approve worker | reject worker).

quick note: i'm also building a fork of OCEAN, and am already familiar with the development environment. anyway, here's my plan of action:

1. problem: carbon pricing?

• accurately pricing carbon can best be done by aggregating multiple data sources. using graphql I can wrangle these together.

2. problem: how to track carbon footprints of an individual while respecting privacy?

• sources of cabon emissions for individuals: gas consumed (analyze transactions), residing state (greener the power grid the better) and weighting their monthly energy consumption (did you guys have a way to attack this in mind?), solar energy usage monitoring -- maybe a software that can monitor solar controllers?
• using unsupervised machine learning (clustering), could analyze the relative impact certain individuals have relative to others and as people adopt cDOV more, higher incentive to do better.
• obviously validation of their data sources is of high importance -- potential for partnerships here with power companies!

3. problem: designing interface / base contract for passive yields:

• passive yields obviously paid out in the block chain after "proof of work". this proof of work can be contextualized to, rather than mining, be optimizing your local cost function as a carbon emitting individual.
• using unsupervised learning mentioned before, if you are a net negative on the global emission cost (you are reducing the amount of carbon emissions YOU produce), then with each new block mined, you gain a reward relative to all others that made transactions on the same block mined. basically, there are mining rewards (to incentivize tx validation) but there can also be a "carbon reduction pool" that has a max of some amount and is divided and given to all addresses that participated (transacted) on that block. if you have 100 addresses with transactions on block N and an emission pool size of 10000 cDOV, and 99 had a constant emission of 10, but one person had an emission of 1, then the one person with an emission of 1 would receive 10x more cDOV than someone from within the 99 with an emission of 10. hopefully that makes sense!
  5) gilles437 has applied to start work (Funders only: approve worker | reject worker).

Hi,

This project looks interesting, Currently, I have some experience with Elastic finance, deployed my own chainlink node as a validator on the mainnet at a time, and can develop Solidity contracts, or nodejs bots/apps, or react applications. I'd be happy to help in that project.
6) masaun has applied to start work (Funders only: approve worker | reject worker).

I'm interested in this idea and build it.

Learn more on the Gitcoin Issue Details page.

[gitcoinbot]

Issue Status: 1. Open 2. Started 3. Submitted 4. Done

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The funding of 3500000.0 DOV (4518.5 USD @ $0.0/DOV) attached to this issue has been cancelled by the bounty submitter

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