LONDON, March 24, 2022 /PRNewswire/ — CC TOKEN, Backed by Preon Capital, is set to revolutionize carbon markets as it begins trading on centralized exchanges.
CC Token ($CCT), will be listed on the BitMart Exchange on 24th March at 3PM EDT. It is a utility token backed by Carbon Futures, running on the Algorand Blockchain.
CC Token aims to turn crypto into a force for environmental good by democratizing access to carbon markets and involving consumer stakeholders in carbon responsibility. As a Carbon Neutral Blockchain, Algorand is the ideal platform through which to realize this goal.
CC Tokens are collateralized by European Union Allowance (EUA) Futures – the most traded carbon credits in the world. Operating in regulated rather than voluntary carbon markets, CC Token acquires EUA Futures and releases equal numbers of CC Tokens with an asking price reflecting the acquisition price. EUA Futures have seen a strong performance throughout 2021, appreciating by 138%.
Previous efforts in the digital carbon space have seen rapid growth but have lacked the stability and transparency CC Token is set to deliver. Transparency and security are a priority for this project which operates with a long-term mindset. Their reserves are held in custody by Société General Securities Service, a global leading custodian bank, which will provide a monthly report confirming the total amount of EUA futures held. There will also be independent audits carried out by PWC Luxembourg.
Through these mechanisms 1 CC Token represents approximately 1 Kilogram of Carbon. Price appreciation in Carbon Allowances will help to incentivize Carbon Emitting firms to acquire energy from more environmentally friendly sources.
In addition, the CC DAO, launching with an initial fund of $50,000, will help support the green initiatives. By championing efforts to save the environment, CC Token looks to…
