Bundle
GCO2 tokens can be deposited into a bundle in exchange for bundle tokens using Flowcarbon’s dApp. Bundle tokens are issued on a one-to-one basis; if a GCO2 token holder deposits 50 GCO2s into a bundle, she will receive 50 bundle tokens in return. Remember that GCO2s are backed by one carbon credit (which in turn represents a reduction or removal of one metric ton of carbon dioxide equivalent from the atmosphere), so therefore bundle tokens retain to this ratio of one token to one metric ton of carbon.
A GCO2 token holder first launches the Flowcarbon dApp and connects their wallet holding the GCO2 tokens. She is then able to select the specific GCO2 token and quantity that she would like to deposit into the bundle. Upon approval, the GCO2 tokens are transferred to the bundle contract where they are held until withdrawal, retirement, or redemption. When the GCO2 tokens are received, the bundle contract mints an equivalent number of new bundle tokens which are then sent to the original GCO2 token holder.
