Comment on page
What is CRISP-C?
Learn about the power of CRISP Scored Cookstoves
On September 22nd, 2023 - Solid World launched the CRISP Scored pool for Cookstoves. Following the success of our initial pool launch, the Crisp-M pool, we have seamlessly integrated clean cooking funding with DeFi. Read the launch blog post here.
Every CRISP-C token(CRISP Scored Cookstoves) is a catalyst for positive environmental change, serving as a tangible commitment to fulfilling clean cooking needs. As participants trade or hold CRISP-C, they directly contribute to these vital environmental and social efforts, enabling emission avoidance, reducing deforestation, and improving health and wellness of underserved communities in least developed countries(LDCs). Forward contracts back every CRISP-C token for the delivery of carbon credits from the Gold Standard registry at a later date. The exact mechanics of this are detailed in CRISP-M and CRISP-C: Collateralized Basket Tokens (ERC-20)
According to the Clean Cooking Alliance, more than three billion individuals worldwide rely on inefficient stoves or polluting open flames for cooking, resulting in adverse effects on their health, the climate, and the environment. Improved efficiency cookstoves are "low-hanging fruit" in the context of climate action because they offer a relatively straightforward and cost-effective way to achieve multiple benefits in terms of health, environment and socio-economic development.
- Reduction in Carbon Emissions and Deforestation - Clean cookstoves are efficient and produce fewer carbon emissions compared to traditional stoves, helping to mitigate climate change. Many traditional stoves rely on wood as fuel. This leads to increased deforestation, especially in regions where wood is the primary energy source for cooking. Clean cookstoves are more efficient, reducing the demand for wood. By reducing the need for biomass fuel, clean cookstoves help in preserving natural habitats and biodiversity.
- Socio-economic Benefits - Cookstoves have immense socio-economic benefits, such as time and labor savings, collecting firewood can be time-consuming, especially for women and children in many cultures who bear this responsibility. This time could be used for other productive activities, including education and work. Economic savings, clean cookstoves use less fuel, leading to economic savings for households.
- Cookstoves Offer Numerous Health Benefits - Compared to traditional, open-fire cooking methods improved cookstoves can have meaningful impact on health:
- 1.Reduction in Respiratory Diseases: Traditional cookstoves release a significant amount of smoke and particulate matter. Inhalation of these pollutants can lead to chronic respiratory diseases like chronic bronchitis, asthma, and chronic obstructive pulmonary disease (COPD).
- 2.Improved Child Health: Children, especially infants, are often near their mothers during cooking and are therefore more exposed to the harmful effects of smoke. By reducing indoor air pollution, clean cookstoves contribute to better overall child health.
- 3.Safety: Traditional stoves, particularly open fires, pose burn risks. Clean cookstoves often have safer designs that reduce the risk of accidents.
We are dedicated to collaborating with innovative partners. For the launch of the Crisp-C pool, we have joined forces with SCB and KlimaDAO.
- KlimaDAO: KlimaDAO is a Decentralized Autonomous Organization (DAO), KlimaDAO's mission is to accelerate the delivery of climate finance globally by building the transparent, neutral, and public infrastructure needed to scale the Digital Carbon Market. You can read more about them by clicking here.
- StarCB: SCB is a world-leading low-carbon commodity company. With more than 100 staff in five offices across the U.S., Europe and Asia, it provides market-based solutions to assist clients in achieving their sustainability goals and supports the financing of high-integrity and quality emission reduction and removal projects. You can read more about them by clicking here.
Together, we're redefining the financing of clean cooking, creating a fair and liquid market for climate finance while upholding stringent environmental integrity and transparency standards.
Solid World aims to establish standardized, robust parameters for our CRISP-C pool. This structure is designed to maintain high-quality projects in our pool while simultaneously supporting local communities. Below are the key parameters for the CRISP-C pool:
- Pool Criteria:
- 1.Registered with Gold standard
- 2.TPDDTEC methodology V4.0
- 3.Rural project area
- 4.LDC Countries
- 5.Project Start Date: 2022 or later
- Forward Timeframe: The project must involve Gold Standard improved cookstove distribution forwards valid for up to 3 years from the date of issuance.
- Registration and Commencement: Preferably, the project has already been registered with Gold Standard. However, if the project developers have a demonstrable track record of successful initiatives, it may suffice that cookstove distribution operations have already begun.
- CRISP Scoring: Only credits that achieve an A to AAA CRISP score will be considered. The CRISP scoring mechanism is designed to evaluate and reduce the risk of carbon credit projects, thereby ensuring the quality and reliability of projects within the pool. Read more about the CRISP framework by clicking here(coming soon).
It's important to note that every project will undergo a comprehensive review by our Curation Council, consisting of 7 guardians. The Council maintains the power to veto any project proposed for inclusion in the pool, further safeguarding the quality and integrity of the CRISP-C pool.
The launch price was $10.75 per CRISP-C token. The annual forward discount rate was 8% at launch. The total amount of CRISP-C tokenized forward carbon credits was 46,661 tons. The underlying forward contract can be found on the project page. Note that these numbers will change with market activity.
As we set up a new market, we needed to match the suppliers and capital providers. This means the project developers held 50% of the supply at launch, while the dollar-side liquidity providers held the other 50%. None of the liquidity providers can reduce their position the first six months from launch. Still, all the liquidity providers are interested in holding a long-term position thanks to the APR or Curation Council vote.
Transparency is integral to our operations. To that end, here are the critical contracts associated with CRISP-C:
- 1.Token Contract Page: For a detailed look at the CRISP-C token contract - 0x672688C6Ee3E750dfaA4874743Ef693A6f2538ED
- 2.Liquidity Pool Page: Access the liquidity pool where CRISP-C tokens can be traded -
- 3.Gamma Pool Page: Learn more about the Gamma Pool, where you can deposit CRISP-C tokens, become a liquidity provider, and earn trading fees - 0x27420e641CE96a6C0191dbFA0A9500eaCe33531d
- 4.Staking Pool Page: Visit our staking pool page for information on staking your LP position to participate in ecosystem incentives provided by the protocol - 0xaD7Ce5Cf8E594e1EFC6922Ab2c9F81d7a0E14337
- 5.Rewards controller: The controller that is automatically distributing rewards to CRISP-C holders -
With CRISP-C, we're not just reshaping DeFi – we're leveraging its potential to make a tangible difference to our planet, one cookstove at a time.