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CarbonHood: Empowering Traders with On-Chain Carbon and Crypto Trading

December 13th, 2023Victoria Calmon

CarbonHood, a decentralized exchange (DEX) with a distinctive edge, provides traders with an opportunity to engage in on-chain trading of carbon and other assets on Celo. By bringing real-world environmental assets into the mix, all while offering leverage, CarbonHood, positioned as the first DEX of its kind.

About CarbonHood

CarbonHood bridges the gap between digital and real-world assets. The inclusion of EUAs (European Union Allowances) is a prime example of how the platform integrates tangible real-world assets into the decentralized exchange landscape. EUAs are tokens representing the right to emit one tonne of CO2 or the equivalent amount of other greenhouse gasses. These allowances are a crucial element in the global effort to mitigate climate change by putting a cap on industrial emissions. By incorporating EUAs into the CarbonHood platform, traders gain exposure to real-world environmental assets.

CarbonHood's user-friendly interface makes it an accessible platform for those looking to diversify their trading portfolio. By enabling on-chain trading of carbon and crypto assets with significant leverage, CarbonHood positions itself as a go-to platform for traders seeking a dynamic and high-stakes trading environment.

Mento Stablecoins in Action

Choosing Mento Labs as a partner was a strategic decision for CarbonHood, driven by Mento's portfolio of diverse stable assets, including cUSD, cEUR, eXOF and cREAL. This partnership enables CarbonHood to expand its forex trading offerings, enhancing the platform's versatility and catering to a broader audience.

CarbonHood itself is a straightforward yet powerful trading platform, allowing users to seamlessly swap or trade crypto, carbon, and forex assets directly on-chain. The integration of Mento stablecoins into CarbonHood's index portfolio further enhances the user experience. Traders can engage in on-chain trading, settling in cUSD, or opt for swaps between these stablecoin pairs.

Regarding the integration of Mento’s portfolio of diverse currencies to CarbonHood’s platform Nick Hill, Head of Product at CarbonHood said: “We’re proud to be a partner of Mento Labs and add further utility to the cStables via trading on the CarbonHood platform. Mento’s stablecoin collection has allowed our traders to get real-world foreign currency exposure (cUSD, cEUR, cREAL) on our platform which aligns with our vision of becoming the go-to trading destination on Celo.”

Oleksiy Novykov, Head of Product at Mento Labs added: “CarbonHood's commitment to bringing real-world environmental assets into the decentralized exchange landscape aligns seamlessly with Mento Labs' mission of enabling real-world use cases for digital currencies.”

Measurable Benefits

While still in beta, CarbonHood has already achieved milestones with a trading volume of $150K. This early indicator suggests potential growth as it moves towards a public release.

At the end of November, CarbonHood, Mento Labs, the Celo Foundation, and Envio co-organized the Celo DeFi and Trading hackathon in Cape Town. With over 150 registrants, 70 highly motivated developers participated in the hackathon and submitted over 30 projects. This event also generated a lot of interest around the MiniPay wallet and developing new projects and use cases for Mento stablecoins.

Next steps

Looking ahead, CarbonHood's roadmap includes plans to integrate the eXOF currency into its portfolio. Additionally, the focus is on expanding liquidity for the cUSD, cEUR, and cREAL pairs on-chain, paving the way for a more robust and dynamic trading ecosystem.

More information about CarbonHood:


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Launch App

To learn more about the EUA Carbon Credit Trading, check out CarbonHood’s knowledge center.

Get in Touch

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