Proof-of-Climate: Verified Environmental Assets on Cardano

[Proposal setup] Proposal title

Please provide your proposal title

Proof-of-Climate: Verified Environmental Assets on Cardano

[Proposal Summary] Budget Information

Enter the amount of funding you are requesting in ADA

365000

[Proposal Summary] Time

Please specify how many months you expect your project to last

12

[Proposal Summary] Translation Information

Please indicate if your proposal has been auto-translated

No

Original Language

en

[Proposal Summary] Problem Statement

What is the problem you want to solve?

Cardano users lack ways to tap environmental markets, capping APY, TVL, and access to transparent environmental RWAs. A native issuance and bridge is needed to unlock scalable, green finance growth.

[Proposal Summary] Supporting Documentation

Supporting links

• https://www.thallo.io/
,
• https://docs.market.thallo.io/
,
• https://www.thallo.io/thallo-biocarbon-registry-launch-worlds-first-two-way-carbon-bridge/
,
• https://carbonherald.com/scb-and-thallo-partner-on-digital-carbon-credits/
,
• https://carbonherald.com/thallo-joins-international-emissions-trading-association-ieta/

[Proposal Summary] Project Dependencies

Does your project have any dependencies on other organizations, technical or otherwise?

Yes

Describe any dependencies or write 'No dependencies'

Native token functionality and smart contract execution on Cardano. Integration with existing Cardano blockchain APIs and wallet modules: Required for Cardano-based wallet interactions.

[Proposal Summary] Project Open Source

Will your project's outputs be fully open source?

Yes

License and Additional Information

Yes, partially open source. Tokenization contracts will be open source, but the backend bridging technology will not. This is largely to protect the assets in custody and maintain a low risk RWA ecosystem.

[Theme Selection] Theme

Please choose the most relevant theme and tag related to the outcomes of your proposal

RWA

[Campaign Category] Category Questions

Describe your established collaborations.

1. SCB Environmental Markets (SCB)

Strategic partner supplying credits via Thallo’s bridge, trading them on our marketplace, and co-hosting workshops to advance blockchain carbon markets.

1. SOCIALCARBON, Puro.earth, BioCarbon

Registry partners providing high-quality credits with social and environmental co-benefits, tokenized through Thallo’s bridge to deliver diverse, trusted assets on-chain.

Describe funding commitments.

SCB amongst other suppliers are committed to transferring at least 10,000 credits into the Thallo ecosystem to be bridged onto Cardano.

While registry integrations are not direct funding, they are committed to supporting Cardano integration. Notably, Thallo is the only market player able to bridge from all three registries (SOCIALCARBON, Puro.earth, BioCarbon), ensuring unmatched supply and ecosystem depth.

Describe your key performance metrics.

KPIs:

1. Bridge and tokenize at least 10,000 verified carbon credits within the project timeline.

2. Achieve ≥5 active partnerships with registries and/or carbon credit suppliers integrated on Cardano.

3. Enable end-to-end on-chain credit retirements with public verification available via Cardano explorers.

[Your Project and Solution] Solution

Please describe your proposed solution and how it addresses the problem

Cardano users have very limited ways to participate in environmental markets. This restricts opportunities for generating sustainable yield, growing total value locked, and building innovative products on Cardano. The lack of native issuance and trusted bridges for real world environmental assets means the ecosystem cannot easily integrate high quality carbon credits or similar assets into its financial infrastructure.

Thallo will solve this by creating a secure bridge and smart contract system that brings verified, registry-issued environmental assets onto Cardano. The bridge will connect directly to established carbon credit registries and synchronise verified asset data to Cardano using a dedicated metadata schema. This ensures that every credit tokenized on-chain is authentic and backed by registry records. The smart contract layer will manage issuance, trading, transfer, and permanent retirement of these credits, with integrated wallet support for simple user interaction.

Once on-chain, these assets can be integrated into lending pools, used as collateral, or combined into liquidity pools. This creates opportunities for higher APY by stacking returns from traditional DeFi rewards with the potential appreciation or revenue sharing from environmental assets. By introducing a new, transparent asset class to Cardano DeFi, Thallo will drive TVL growth and broaden the ecosystem’s economic activity. Developers will be able to build new applications such as eco-backed stablecoins, climate-linked derivatives, and regenerative finance tools, further strengthening Cardano’s position as an innovation hub.

The platform will prioritise onboarding projects from the Global South, especially Africa, to give developers direct market access and a higher share of revenue from credit sales. This supports economic growth in emerging markets while positioning Cardano as the leading blockchain for transparent and impactful climate finance.

The core of the solution involves:

Bridge Architecture

• A secure off-chain to on-chain bridge connecting directly to recognised carbon registries (e.g., BioCarbon Registry, Puro, Social Carbon).
• APIs and connectors will synchronise verified credit data from registry databases to Cardano, mapping them to a Cardano-compatible metadata schema (CIP-68).
• A verification layer will ensure that all credits represented on-chain are authentic and match registry records before being tokenized.

Smart Contract Layer

• Custom Aiken smart contracts to manage the issuance, transfer, and retirement of tokenized credits.
• Built-in retirement logic prevents double counting by marking credits as permanently used.
• Admin functions allow only authorised issuers and retirement authorities to execute sensitive actions.
• Seamless integration with EMURGO Labs’ Cardano Wallet Module to support user-friendly credit management.

DeFi Integration & Financial Innovation

• Environmental assets will be usable as collateral, in yield pools, or for minting eco-backed stablecoins, boosting APY and TVL in the Cardano ecosystem.
• This enables developers to create new financial products such as climate-linked derivatives, partially collateralised loan pools, and other regenerative finance tools.

Global South Impact

• The bridge will prioritise onboarding projects from the Global South, especially Africa and South America, giving project developers direct market access and a greater share of sale proceeds.

Security, Compliance, and Governance

• All components will undergo rigorous third-party security audits before Mainnet launch.
• Compliance with existing carbon registry standards and international sustainability frameworks will be embedded from the start.
• Initially governed off-chain by the Thallo core team and partners, with a roadmap towards decentralised governance models as the platform matures.

Outcome: A production-ready, registry-integrated carbon credit marketplace on Cardano, expanding ecosystem utility, creating new yield opportunities, increasing network transactions, and driving capital to high-impact environmental projects.

[Your Project and Solution] Impact

Please define the positive impact your project will have on the wider Cardano community

Integrating Thallo’s environmental-asset rails into Cardano would instantly give the network a credible, on-chain market for high-quality carbon credits. Every purchase or retirement of a credit would be recorded immutably on Cardano, eliminating double-spending and letting companies, regulators and everyday users verify climate claims in real time.

Beyond transparency, the move unlocks a wave of green-finance innovation: developers could wrap or collateralise these credits to mint eco-backed stablecoins, structure yield pools or build climate-linked derivatives—channelling capital to real-world carbon-removal projects while expanding Cardano’s DeFi toolkit.

The result is a cleaner brand, new revenue streams and stronger network effects that can draw sustainability-minded builders and investors into the Cardano ecosystem.

Access and democratisation of green finance: By leveraging Cardano’s blockchain, environmental assets become more accessible to a broader audience in Web3. This democratization of access means that not only large corporations but also smaller enterprises and individuals can participate in carbon markets to drive finance to sustainable initiatives. The ease of entry and interaction facilitated by Cardano’s technology can empower more entities to contribute to sustainability efforts, thereby amplifying collective impact.

Trust-by-design carbon retirements: Once used to make an environmental or carbon-neutrality claim, a carbon credit is retired and cannot be re-used. That said, due to its opaque structure, one of the main challenges in the market is the lack of transparency and auditability. Cardano’s blockchain can provide an immutable, transparent ledger of transactions that ensures each retirement is recorded and verifiable. This transparency helps build trust among all stakeholders, from environmental groups to regulatory bodies and participants in the carbon market, ensuring that each credit’s retirement is documented and permanent

**Guaranteed credit legitimacy: **The authenticity of carbon credits is critical to their value and effectiveness. Thallo accesses the broadest range of environmental assets in the Web3 market which can be supplied, on demand, to Cardano users.

Development of New Financial Products - New DeFi primitives: The integration of environmental assets on Cardano’s blockchain opens the door to the creation of novel financial products. Developers can utilize these assets to craft new types of securities, derivatives, and partially collateralise existing stablecoins or loan pools with environmental assets. These innovations have two main benefits: the provision of capital to the carbon-removing projects across the globe and the collateralization of novel assets within the protocols that will increase in value over time.

**Driving Engagement and Adoption: **By supporting environmental assets, including carbon credits, Cardano can appeal to a wider audience, especially those committed to sustainability. Whilst we appreciate that the direct impact of the Cardano protocol will be limited, the emerging intersection with AI and LLM will inevitably increase the emissions of those using the ecosystem. This can drive increased adoption of the Cardano blockchain, as users looking for eco-friendly blockchain solutions may prefer Cardano for their transactions and projects.

Creating New Economic Opportunities: For the Cardano community, the introduction of environmental assets opens up new economic opportunities. Community members can participate in trading, investing, or developing new products around these assets. This can lead to the growth of a new ecosystem within the Cardano community focused on green finance and sustainability.

**Educational and Collaborative Benefits: **Hosting environmental assets on the Cardano protocol provides a learning platform for the community. Thallo can provide insights into the complexities of carbon and renewables markets and environmental regulations, enhancing community understanding and skills. Moreover, it fosters collaboration among community members who share a common interest in sustainability, leading to innovative projects and partnerships.

Enhancing Protocol Utility and Value - Network flywheel: By diversifying the types of assets managed on Cardano, the protocol increases its utility and overall value. As more users engage with the platform for environmental asset transactions, the intrinsic value of Cardano's network grows, benefiting all community members through increased network effects and potential token appreciation. More asset types → more use cases → more transactions → stronger network effects and potential ADA appreciation.

[Your Project and Solution] Capabilities & Feasibility

What is your capability to deliver your project with high levels of trust and accountability? How do you intend to validate if your approach is feasible?

Thallo is the premier entity in the tokenization of legitimate carbon credits, uniquely positioning us to deliver this project. We have already built and deployed similar bridging and tokenization infrastructure off-chain, processing high transaction volumes and onboarding multiple registries.

This means we understand the technical, operational, and market complexities better than anyone else in the space and can now bring a proven model natively to Cardano.

We were the first entity to build a two-way bridge with an existing carbon registry and to this day maintain the widest array of choices and access to the most extensive supply of legitimately registry-issued carbon credits in Web3. With strong working relationships already in place with recognised registries and project developers, including in the Global South, high-quality credits will be available for on-chain issuance from the moment the bridge is live.

**Thallo has already bridged over $500k TVL of carbon credits on- chain (not including off-chain credits). **

Our leadership team brings a combined 30 years’ experience in sustainability, market development, and technology. Our technology team has a proven track record of delivering products that have processed over $millions in transactions, demonstrating our ability to operate at scale and securely manage substantial value. In previous deployments, we have successfully integrated environmental assets into DeFi, generating attractive APY and growing total value locked, experience that directly informs how we will maximise these outcomes for Cardano.

We are highly experienced in navigating registry requirements, international sustainability frameworks, and blockchain compliance standards, ensuring that this project will launch with full integrity and avoid reputational or regulatory risk. Our disciplined approach to project delivery includes milestone-based development, independent security audits, transparent reporting, and prudent treasury management, ensuring funds are used efficiently and accountably.

This blend of proven delivery, established partnerships, deep market expertise, and rigorous operational governance makes Thallo uniquely capable of delivering a secure, scalable, and high-impact environmental asset market on Cardano one that drives APY, TVL, adoption, and long-term network value.

[Milestones] Project Milestones

Milestone Title

Milestone 1: Bridge Development & Deployment

Milestone Outputs

Objective: Establish the core bridge between selected carbon credit registries and the Cardano blockchain, enabling verifiable, registry-backed data synchronization.

Scope of Work:

1. Design and implement a bridge architecture for off-chain to on-chain carbon credit data synchronization.

2. Develop connectors/APIs to interface with at least three targeted registries (e.g., BCS, Puro, Social Carbon).

3. Implement data validation and verification layer to ensure registry data integrity before on-chain representation.

4. Map registry data formats to Cardano-compatible carbon credit metadata schema.

5. Conduct internal unit and integration testing on the Cardano Testnet.

6. Deliver technical documentation for bridge design and registry integration processes.

Acceptance Criteria

Deliverables:

1. Functional bridge software with secure registry connectors

• Develop and deploy a production-ready bridge architecture that enables the secure transfer of verified carbon credit data from recognised registries directly onto the Cardano blockchain.
• Secure registry connectors will be custom-built APIs or integration modules for each targeted registry (e.g. BioCarbon Registry, Puro, Social Carbon), with authentication and encryption protocols to prevent data tampering or interception.
• The bridge will include a data validation layer to cross-check on-chain representations against off-chain registry records before tokenization, ensuring only legitimate credits are issued.
• The system will be modular, allowing additional registries to be integrated quickly without major re-engineering, supporting long-term scalability.
• Logging and monitoring will be built in to allow full audit trails of all data movements, enhancing transparency and trust for users, developers, and compliance authorities.

1. Validated metadata schema aligned with registry standards

• Design and implement a Cardano-compatible metadata schema (using CIP-68 standards) for environmental asset representation, ensuring consistent and verifiable on-chain records.
• The schema will capture all key credit attributes including project name, project type, location, methodology, issuance date, serial number, and retirement status directly linked to its originating registry.
• Cross-checked and approved to ensure compatibility with how each registry stores and authenticates its data.
• The metadata structure will be designed for interoperability with other Cardano protocols, future-proofing the system.
• Clear documentation and integration guidelines will be produced so that developers, marketplaces, and dApps can easily incorporate the schema into their own solutions, accelerating adoption across the Cardano ecosystem.

Evidence of Completion

Milestone 1 will be considered complete when the bridge is deployed to the Cardano Testnet and successfully synchronises sample registry data from at least one integrated carbon credit registry.

Proof will be provided through:

• Public Testnet Explorer Links – showing the minted sample carbon credit tokens with complete CIP-68 metadata.
• Transaction IDs – each linked to a corresponding off-chain registry record.
• Mapping Document – a side-by-side table matching registry data fields (serial number, project name, issuance date, retirement status) to their exact on-chain representation.
• Screenshots and Demo Video – walking through the live Testnet environment from registry sync to asset issuance.

These outputs will make it simple for Catalyst auditors and the Cardano community to independently verify that the bridge works as intended, that the data integrity checks are functional, and that the metadata schema correctly reflects registry standards.

Delivery Month

4

Cost

90000

Progress

40 %

Milestone Title

Smart Contract Development for Carbon Credit Tokenization

Milestone Outputs

Objective: Build and deploy Cardano-native smart contracts enabling issuance, transfer, and retirement of tokenized carbon credits.

Scope of Work:

1. Develop Aiken smart contracts to tokenize verified carbon credits.
2. Implement CIP-68-compliant metadata standards to store registry-linked attributes.
3. Include retirement logic to permanently mark credits as used, preventing double counting.
4. Integrate with Cardano Wallets for seamless user interaction.
5. Build admin functions for authorized issuers and retirement authorities.
6. Deploy contracts on Cardano Testnet with bridge integration from Milestone 1.

Acceptance Criteria

1. Wallet Integration Enabling End-to-End Testnet Transactions

Cardano Wallet (Yoroi, Eternl) will be fully integrated with the Testnet smart contracts.

Users will be able to:

1. View tokenized carbon credits held in their wallet.
2. Transfer credits between Testnet addresses.
3. Retire credits directly from the wallet interface, triggering the retirement logic in the smart contract and updating the on-chain metadata to mark the credit as permanently used.
4. A public demonstration will be made available, showing a complete flow from credit issuance through transfer and retirement in the Testnet environment.
5. Proof will include public Testnet transaction IDs for each stage of the process and a short recorded walkthrough of the user experience.

2. Contract Documentation Including Schema and Transaction Flow Diagrams

Full technical documentation for the smart contracts will be delivered, covering:

• Contract architecture overview
• Metadata schema aligned to CIP-68 and registry data standards
• Function-by-function explanations for issuance, transfer, and retirement logic
• Permission controls for authorised issuers and retirement authorities
• Detailed transaction flow diagrams will illustrate:
• How off-chain registry data is bridged and tokenized on-chain
• The end-to-end lifecycle of a carbon credit (issuance → transfer → retirement)
• Points of validation, authorisation, and state changes in the smart contracts
• Documentation will be made available in a public repository so developers and auditors can independently review, integrate, and test the contracts.

Evidence of Completion

Milestone 2 will be considered complete when fully functional smart contracts for carbon credit issuance, transfer, and retirement are deployed on the Cardano Testnet and proven to operate as intended.

Proof will be provided through:

1. Public Testnet Contract Addresses allowing any Catalyst auditor or community member to directly interact with the contracts.
2. Verified Test Transactions a minimum of three publicly visible transactions on the Cardano Testnet, showing:
3. Issuance of a tokenized carbon credit with complete CIP-68 metadata.
4. Transfer of that credit between two Testnet wallets.
5. Retirement of that credit, with metadata updated to reflect permanent retirement status.
6. Transaction IDs and Explorer Links – enabling independent verification of each step.
7. Functionality Walkthrough Video – demonstrating live execution of issuance, transfer, and retirement on the Testnet via the integrated wallet interface.
8. These deliverables will make it straightforward for any third party to confirm the contracts are operational, standards-compliant, and ready for security auditing prior to Mainnet deployment.

Delivery Month

6

Cost

100000

Progress

70 %

Milestone Title

Milestone 3: Testing, Security Audits & Pilot Transactions

Milestone Outputs

Objective: Validate the bridge and smart contracts under real-world scenarios, ensuring security, performance, and user experience before Mainnet launch.

Scope of Work:

Conduct third-party security audits of bridge infrastructure and smart contracts.

1. Perform load testing to assess performance under high transaction volume.

2. Synchronize real-world registry data for pilot credits and verify on-chain representation.

3. Run beta tests with pilot users including ADA and USDA holders.

4. Gather and address user and auditor feedback, implementing fixes as required.

5. Finalize compliance review for registry-linked transactions.

Acceptance Criteria

Audit Reports with Resolved Vulnerabilities

Independent third-party security audits will be conducted on both the bridge infrastructure and the smart contracts prior to Mainnet deployment.

The audit will cover:

• Code review for vulnerabilities, logic errors, and security flaws.
• Penetration testing of the bridge architecture and registry connectors.
• Validation of permission controls, metadata accuracy, and retirement logic.
• The deliverable will be a final signed audit report from the security partner that:
• Lists all identified vulnerabilities.
• Confirms all critical and high-severity issues have been fixed.
• Provides verification that the updated code passes all required security checks.
• A public audit summary will be shared with the Catalyst community, confirming the system’s security readiness without exposing sensitive technical details.

2. Pilot Testnet Transaction Records and Feedback Analysis

A structured pilot phase will be run on the Cardano Testnet with selected early adopters, including ADA and USDA holders, and registry partners.

The pilot will demonstrate a complete asset lifecycle: issuance → transfer → retirement.

The deliverable will include:

1. Public Testnet transaction IDs and explorer links for all pilot transactions.
2. A feedback report summarising user experience, usability observations, and technical performance metrics such as transaction confirmation times and fees.
3. A list of improvements made as a direct result of pilot feedback, showing a clear iteration loop before Mainnet launch.
4. This ensures the solution is validated in real-world conditions and refined for maximum usability and reliability.

Evidence of Completion

Milestone 3 will be considered complete when a pre-Mainnet deployment package is prepared, containing the essential components required for Mainnet launch in the next phase.

Proof will be provided through:

1. Ready-to-Deploy Codebase –
2. Audited smart contract code with all high and critical vulnerabilities resolved, as confirmed by an independent security audit report.
3. Bridge infrastructure and registry connectors configured and tested on Testnet.
4. Code stored in a secure repository with a version tag for the pre-Mainnet release.
5. Deployment Instructions:
6. Concise configuration details and step-by-step instructions for deploying the bridge and smart contracts to Mainnet.

Updated Technical Documentation:

1. Documentation for the final Testnet-ready version of the system, including metadata schema, transaction flow diagrams, and basic user guidance for issuers and retiring entities.

Pilot Testing Summary:

1. A short report summarising the pilot Testnet transactions, key feedback, and minor adjustments made prior to Mainnet deployment.
2. These outputs will be sufficient for Catalyst auditors to verify that the solution is secure, functional on Testnet, and prepared for Mainnet launch in Milestone 4 without introducing major new development work beyond this point.

Delivery Month

9

Cost

95000

Progress

90 %

Milestone Title

MVP Mainnet Launch

Milestone Outputs

Objective: Release a production-ready, registry-integrated carbon credit trading solution on Cardano Mainnet.

Scope of Work:

1. Deploy audited smart contracts and bridge to Cardano Mainnet.

2. Enable verified carbon credit trading for early adopters.

3. Launch first live registry-backed carbon credit transactions on Cardano.

4. Provide onboarding materials and documentation for issuers, buyers, and retiring entities.

5. Initiate marketing and outreach to onboard registry partners and liquidity providers.

Acceptance Criteria

1. Mainnet Deployment of Contracts and Bridge

• The final audited smart contracts for carbon credit issuance, transfer, and retirement are deployed on the Cardano Mainnet.
• The bridge infrastructure is live and able to synchronise verified asset data from at least one integrated carbon credit registry to Cardano.
• Functionality is demonstrated through at least one complete on-chain transaction lifecycle (issuance → transfer → retirement) on Mainnet using real or pilot credits.
• Public Mainnet contract addresses and transaction IDs are provided so the Cardano community and Catalyst auditors can independently verify deployment and functionality.

2. Public Documentation and Onboarding Guides

• A dedicated, publicly accessible documentation hub is available, containing:
• Clear onboarding guides for issuers, buyers, and retiring entities.
• Step-by-step instructions for interacting with the platform via the integrated wallet.
• Developer documentation covering the metadata schema, API endpoints, and contract interaction examples.
• Documentation is written in plain language where possible, supported by diagrams, screenshots, or short video walkthroughs to improve ease of use.
• Materials are reviewed internally to ensure accuracy and updated to reflect the final production system.
• Completion of Milestone 4 will be evidenced by the public availability of both the live Mainnet deployment and the corresponding documentation, enabling immediate adoption and integration by the Cardano community.

Evidence of Completion

Milestone 4 will be considered complete when the first batch of registry-backed carbon credits is successfully bridged to Cardano Mainnet and processed through at least one full transaction lifecycle.

Proof will be provided through:

Bridged Volume Confirmation:

1. At least 10,000 verified carbon credits are bridged from a recognised registry to Cardano using the live bridge infrastructure.
2. Each credit carries complete, CIP-68-compliant metadata that links back to the original registry record.
3. Public Mainnet Records:
4. Transaction IDs and Cardano explorer links showing the minting of the 10,000 credits on-chain.
5. At least one publicly viewable example of a credit transfer and retirement on Mainnet, proving the system’s end-to-end functionality.

Mapping and Verification File:

1. A document mapping registry records (serial numbers, project names, issuance dates, retirement status) to their corresponding on-chain tokens for a subset of the bridged credits, confirming authenticity and data integrity.

Demonstration Summary:

1. A short public report or video walkthrough showing the bridge in operation and the credits appearing on Mainnet, accompanied by a brief explanation of the process.
2. This evidence will make it straightforward for Catalyst auditors and the Cardano community to confirm that the bridge is operational, the credits are legitimate, and the system is actively enabling on-chain environmental asset transactions at scale.

Delivery Month

12

Cost

80000

Progress

100 %

[Final Pitch] Budget & Costs

Please provide a cost breakdown of the proposed work and resources

Development Costs – 140,000 ADA

• Covers the full engineering build required to bring verified environmental assets onto Cardano. This includes:
• Designing and implementing the bridge architecture to securely connect off-chain registries to Cardano.
• Building registry connectors/APIs for data retrieval and validation.
• Developing Aiken-based smart contracts for tokenization, transfer, and retirement of carbon credits.
• Creating and implementing CIP-68-compliant metadata standards for asset representation.
• Integrating with the EMURGO Labs Cardano Wallet Module to ensure smooth end-to-end user transactions.
• Setting up and configuring the underlying infrastructure for Testnet and Mainnet environments.

Integration with Registries & Partnerships – 50,000 ADA

• Funds the work needed to connect the platform to real-world carbon credit sources and onboard partners. This includes:
• Building and testing API connectors for targeted registries such as BioCarbon Registry, Puro, and Social Carbon.
• Conducting compliance alignment to ensure all on-chain credits meet registry and market integrity standards.
• Legal review of registry agreements and carbon asset handling processes.
• Onboarding activities with registry partners and early liquidity providers.

Testing and Security Audits – 95,000 ADA

• Ensures the system is fully secure, reliable, and optimised before Mainnet launch. This includes:
• Independent third-party security audits of both the bridge and smart contracts.
• Performance and load testing to verify the platform can handle expected transaction volumes.
• Running pilot Testnet transactions with ADA and USDA holders to test real-world workflows.
• Gathering and implementing feedback-driven refinements from pilot participants.

Marketing and Launch – 80,000 ADA

• Supports early adoption, community engagement, and smooth onboarding post-launch. This includes:
• Ecosystem outreach to attract issuers, buyers, developers, and liquidity providers.
• Funding early adopter incentives to drive initial usage and liquidity.
• Producing onboarding materials for issuers, buyers, and retiring entities.
• Providing post-launch monitoring and support during the initial adoption phase to resolve any user issues quickly.

Total Budget – 365,000 ADA

[Final Pitch] Value for Money

How does the cost of the project represent value for the Cardano ecosystem?

Value for Money

The cost of the project reflects both the scale of Thallo’s mission and the direct economic benefits it will deliver to Cardano. By creating a secure bridge and smart contract framework for verified environmental assets, this project introduces a new asset class that can be deployed in DeFi to boost APY, increase total value locked (TVL), and expand Cardano’s role in global sustainable finance.

Catalyzing New Markets and Yield Opportunities

Onboarding carbon credits, biodiversity units, and other verified environmental assets onto Cardano unlocks entirely new market activity. From launch, the project will bridge at least 10,000 verified carbon credits from recognised registries, providing immediate liquidity for on-chain use. These assets can be used as collateral, integrated into liquidity pools, or wrapped into eco-backed stablecoins, including potential integration with a Cardano-native stablecoin. This creates multiple yield pathways for DeFi users, drives TVL growth across the network, and increases transaction volume and liquidity.

Efficient Integration with Existing Infrastructure

The solution builds directly on Cardano’s native capabilities, including Plutus smart contracts, tokenization standards, and the Elabs Wallet, to minimise costs and reduce technical risk. Leveraging this existing infrastructure accelerates delivery of new yield-generating tools without the need for a parallel technology stack, while enabling seamless connection to Cardano’s stablecoin ecosystem for enhanced collateralisation and yield stability.

Driving Adoption and Network Effects

By enabling transparent, verifiable trading and retirement of environmental assets, Thallo attracts corporates, investors, NGOs, and retail users seeking both impact and financial returns. Immediate availability of 10,000 bridged credits from launch ensures there is meaningful supply to activate liquidity pools and yield products, helping grow TVL, stimulate APY opportunities, and create a stronger, more diverse Cardano economy.

Long-Term Sustainability and Scalability

Thallo’s revenue model, which includes transaction fees, registration costs, and protocol usage, scales directly with TVL growth. As adoption increases, APY potential rises, creating a self-reinforcing cycle of participation and liquidity. The platform is designed to expand into new asset classes and jurisdictions, ensuring that Cardano benefits from a growing pipeline of high-quality, yield-bearing environmental products, fully interoperable with the Cardano stablecoin ecosystem.

[Required Acknowledgements] Consent & Confirmation

Terms and Conditions:

Yes