We’re excited to announce that the CleanCarbon project is entering a new chapter of development! We know it’s been a while since we’ve updated everyone, so in this post, we will explain what we’ve been working on and why our communication has been lacking.
CleanCarbon project consists of two parts, the physical installations and the CARBO token, and these two parts need to be developed hand-in-hand to ensure the consistency of the project.
In recent months, our bottleneck was the physical part; substantial delays beyond our control hindered the progress and extended the time needed to fulfill our promises.
Specifically, we were waiting for the Standby Letter of Credit (SLOC), a legal document that guarantees a bank’s commitment to payment in case of issues with the agreement. This is a part of the contract financing the physical construction of our installations, and obtaining SLOC is a standard procedure required to finalize these types of arrangements. However, due to the size of the deal and many unforeseeable delays on the investor side, this process took way longer than expected.
So why the silence? As many of you know, we have promised significant updates about the installation for the past couple of months. At some point, knowing that everyone was waiting for the beefy news, we couldn’t keep posting the little things anymore, pretending everything was fine. So the decision was made to start building and improving instead and schedule an announcement of all upcoming improvements later, once the work is completed or close to being finished.
Today, we want to inform everyone that the waiting is over, and we are back to more regular updates; here’s what we have prepared for the upcoming weeks and months.
Financing our installations
Let’s start with the most significant announcement and why sometimes it’s worth waiting.
After months of discussions, finalizing the agreement’s details, and waiting to complete the legal parts, we proudly announce that CleanCarbon has signed the 9-digit contract to construct the long-awaited Pilot Project and multiple further expansions in the next five years.
Although these funds will not be accessible all at once, can only be used for the physical parts of the project (including the team’s salaries), and we are still waiting for the first part to arrive in our company’s bank account; we are incredibly excited! The funds will allow us to build as fast as the manufacturer can deliver their UHTG units in many locations worldwide. While we still wait for the first part of the funds to arrive in our company’s bank account, we know it’s only a matter of time now as the contracts are signed.
The token side
While we were finalizing the contract details, we were also building and planning improvements to the CARBO token, so it will stay caught up while we start physical construction.
Here’s the comprehensive list of everything we have been working on for the past six months, including the delivery timeline and a discussion of why specific improvements are needed.
This first update will be announced by the end of February. We all know it’s been long overdue; some project details have changed, and the new website should reflect the actual state of the project. We are simplifying some things, expanding other things, and changing the website’s main focus to Waste-to-Energy installations, as these will be the primary driving vehicle of the CleanCarbon project.
Right after the new website, we will update the project’s whitepaper. Some changes include token compliance with the upcoming MiCA regulations, new digital and physical utilities, sped-up UHTG expansion plans, updated roadmaps, extended team, details of the CARBO score, and much more…
New Smart Contract
Yes, this needs to happen, and it will benefit the project and the community immensely! As many of you know CARBO token has many issues right now:
- Warnings on listing services such as Coingecko or CoinMarketCap.
- Problems with token centralization that potentially scare away new users.
- Lack of specific functions needed for CARBO Score and staking ability
- Outdated functions, such as buy and sell fees that will never be used again.
- Logos and additional information don’t show in some wallets and listing services.
Overall, many things will get simplified, while new functions will be added.
Please note that we won’t organize another presale, which would have further diluted the value of CARBO. The liquidity on PancakeSwap will be swapped, creating new “clean” charts for CARBO, and the new tokens will be airdropped automatically to everyone. In contrast, the old token will not be tradable anymore and will only serve as a souvenir.
The whole process will be seamless, and every detail will be announced along the way.
Smart Contract audit
Before the liquidity is swapped and the new token gets airdropped, we must ensure the code is perfect!
We have already scheduled the audit by one of the, if not THE most recognizable auditing company in the blockchain sector.
This step is scheduled to start in late March and finish in April. We are allowing ourselves extra time to correct even the minor issues in the contract so that the new version of CARBO is ready to conquer the world in parallel to UHTG constructions.
New CleanCarbon platform
The new platform is probably the most significant and most complicated update relating to the token. It will combine the newly built functions of the token with the CARBO score and other unique parts.
Here’s what the new platform will contain:
- CARBO Score system that will offer fair and engaging methods to benefit from being part of the community
- Ability to stake CARBO tokens in various packages and receive rewards
- Semi-automated contests and airdrops offering meaningful rewards
- Transparent outlook of company buybacks and burning events
- Scheduled multilingual AMAs, all presented in one place
- DAO platform (scheduled for Q2 this year)
The new platform will replace the existing one right after the new contract is deployed, liquidity on PCS is swapped, and everyone receives their airdrops.
Buybacks and marketing campaigns
As soon as the new smart contract is launched and airdrops are sent to everyone to match their CARBO wallets, we will start marketing campaigns and reinitiate the buyback program. Our goal will be to make the charts look green, and we will continue to do so indefinitely, using the funds from the treasury and other VC deals we plan to close.
As a part of our improved communication, we will also host regular AMAs in all the main languages our community members speak. The details will be announced soon. We aim to host one AMA in every language every 6-8 weeks, corresponding to around one AMA every week or two.
Please also feel free to ask questions on Telegram or Discord if some parts of this update need to be clarified or if you need more explanation why certain things are done the way they are.
Overall, we are happy and confident that these changes will bring the desired effects; we’ve been working on many things in the back for a long time and are thrilled to start delivering now.
Thank you for your outstanding patience and continuing support of the CleanCarbon project!!