FAQ

• What is Carbon2o2?

  Carbon2o2 is an ERC1155 (Ethereum-based) token in which each token represents one metric ton of CO2 and are created each time that technology partners are used for the cleaning and stimulation of either an oil or gas well. Our token is supported by an operating corporation that produces revenue and income. Other technologies will be introduced and folded into the creation of additional carbon credits.

• What is a Carbon credit?

  A carbon credit is a certificate that allows the holder or any energy company to emit one ton of carbon dioxide. It levies a cost on carbon emissions by creating the value of the credit for every 1 ton of hydrocarbon fuel. And the organizations or the groups that act to reduce the carbon emissions get the credit granted. A carbon credit is tradable at its market rate in the international market. As per Kyoto protocol, International Panel on Climate Change (IPCC) looks after the carbon credits and ways for slowing carbon emissions. Additionally, there are voluntary carbon credit markets as well existing in cities of the United States.

• Who buys Carbon Credits ?

  Industrialized countries are required to meet their own emission standard as per the emission market. In the event, a country matches its emission standard, it can sell its surplus to the countries that have not been able to meet the emission standard. The Clean Development Mechanism (CDM) executive board issues the carbon credits. The credits are issued for helping the sustainable development work in developing countries that can be traded further in different markets. It facilitates carbon trade between the countries and individual companies to trade pollution rights via a system of cap and trade. So, the companies that pollute less sell their unutilized pollution rights to companies that pollute more. The whole objective is to limit the level of pollution and incentivize the companies that cause less pollution.

• Does the IRS give credits for sequestration technologies?

  Carbon capture and sequestration technologies can reduce greenhouse gas (GHG) emissions from coal and natural gas-fired power plants, as well as other large industrial sources. The tax credit for carbon oxide sequestration (Internal Revenue Code [IRC] Section 45Q) is intended to promote investment in carbon capture and sequestration technologies.

• What is a founder coin?

  A founder coin represents the investment and ownership in Carbon2o2. Only a total of 2,000 founder coins have been established for sale with the first 800 available to the public. A founder is entitled to dividends.

• How does a founder receive a dividend?

  When carbon credits are banked into the platform, outside corporations will have the ability to purchase those credits. The amount that is paid for those credits will be distributed to the founders via a carbon coin dividend based on a pro-rata share percentage of ownership for the original 2,000 founder coins.

• What is a Carbon crypto coin?

  Each carbon crypto coin represents one metric ton of CO2. Carbon crypto coins are created each time that technology partners are used for sequestration, abatement, capture and recycling of carbon. Unlike other crypto coins, our coin is supported by an operating corporation that produces revenue and income. Other technologies will be introduced and folded into the creation of additional carbon credits.

• Why are orphan wells such a big problem?

  Orphan wells are oil or gas wells that have been abandoned by the fossil fuel extraction industry. These wells have been deactivated for any number of reasons. They are huge contributors to climate change-causing emissions. In the US alone it is estimated that emissions from orphan wells equal 3 weeks of total US oil consumption, so these wells may account for 6% or more of total emissions in the world. In addition to that, they are toxic, killing wildlife, groundwater, and the ecosystem around them.

• That’s terrible! But shouldn’t the government pay to clean these up?

  You’re right, they should. But the reality is that neutralizing these wells in the US alone could cost as much as $300 billion. That’s according to the US Government Accountability Office. So while we can sit around and wait for that initiative to happen, we believe given the reality and present danger of climate change, it is best to act now.

• How can I buy Carbon2o2?

  Currently we only accepting fiat (standard payment methods) for our token. This includes PayPal and debit/credit card payments. In v2.0 of our platform, we will start to accept other major cryptocurrencies, such as Bitcoin and Ethereum. You also have the option to pay us via check or wire transfer.

• How do I know that I actually own Carbon2o2 once I bought it?

  If you purchase a Carbon2o2 token through our platform, you can integrate your Carbon2o2 account with any major crypto wallet. At that point you can transfer Carbon2o2 to your wallet, such as through our MetaMask integration. The blockchain of Carbon2o2 is publicly available for all to view and is immutable.

• Will Carbon2o2 change in value over time?

  As Carbon2o2 will be minted in a limited quantity (100,000 tokens) and will be publicly traded. We anticipate the price of Carbon2o2 to rise over time.

• Does Carbon2o2 intend to ICO?

  Yes, we intend to ICO with an estimated ICO date in mid-2023 to early 2024.

• Is Carbon2o2 secure?

  Carbon2o2 is as secure as a standard cryptocurrency exchange site or a standard token. However, cryptocurrencies are, by their very nature, lucrative targets for cybercriminals. It is important to understand that Carbon2o2 does not insure the tokens you have purchased and the responsibility for safeguarding these tokens once you bought them is yours and yours alone. The only way to make sure a purchased token is 100% safe, whether it be Carbon2o2 or any other token, is to put that token into cold storage. That means withdrawing it from your Carbon2o2 account and putting it onto a device that is not in anyway connected to the internet. From there you should make a copy of the device and physically store it in multiple secure locations such as a bank deposit box, home safe, or other location.

• If I lost my 2fa, can you help me get back into my account?

  To access your account after a loss of 2fa you must conduct a personal video interview with our technical team in order to get back into your account. You may schedule said interview using our contact form.

• Do you plan to burn Carbon2o2 tokens?

  No, Carbon2o2 does not intend to nor does it currently have a burn plan.

• Is Carbon2o2 a supported token?

  Yes Carbon2o2 is supported by a fully staffed development team.

• Will there be a Carbon2o2 Mobile Application?

  Yes in v2.0 or v3.0 of our product, there will be a suite of Android and iOS mobile applications.

• If it says my transaction was declined, what do I do?

  Because of the size of your transaction or the source of our processor, your bank may have declined the transaction. The best thing to do is call your bank. Some banks outright ban any crypto related transactions while others have a tendency to block them. If you have repeated issues with your purchase, please reach out to us. Do note that in some cases your card issuer may treat this purchase as a cash advance if you are purchasing with a credit card.

• If I changed my mind about Carbon2o2, can I get a refund?

  We do not refund sales. However, Carbon2o2 is currently trading at a small scale. Therefore, you may attempt to sell your token via the “sell” functionality in the website, though a sell-back is not guaranteed. It is contingent on the presence of a buyer.

• If I reside in a country that is on the US Sanctions List, can I still purchase Carbon2o2?

  If you are a resident of North Korea, Iran, Cuba, you may not purchase Carbon2o2. Additionally, while it is not on the US Sanctions List, if you are a resident of China, you also may not purchase Carbon2o2. If you are a resident of Hong Kong, you may only purchase Carbon2o2 manually after providing proof to our sales team of holding professional investor status in your home jurisdiction. In all cases your purchases must comply with the domestic laws in which you are domiciled and it is your responsibility to comply with such laws.

• Why are you called Carbon2o2?

  Our project has a simple goal: To take carbon and turn it into clean, breathable, beautiful oxygen. Therefore, we chose to symbolize that objective in our name turning Carbon to (o2) the chemical symbol for oxygen.

• Can I sell my tokens?

  Yes, Carbon2o2 is an exchange that will support both the buying and selling of tokens.