Dear Polkadot Community, 

 

Ceres Blockchain Solutions is thrilled to propose the Veles pallet for enhancing the carbon credit market within the Polkadot ecosystem. This initiative aims to introduce a reliable, transparent solution for carbon credit management, leveraging blockchain to ensure accuracy and security in carbon credit issuance and trading. 
This is an idea/project that was supposed to be part of the **Substrate Builders Program** before it was discontinued. Parity engineers have reviewed the code of our other products. They were satisfied with our work and wanted to give us the green light to become part of the Substrate Builders Program. 
Veles addresses critical issues like fraudulent credits and speculative pricing, promoting environmental sustainability. We're dedicated to supporting Polkadot's growth, contributing a tool that benefits both the ecosystem and our planet. 

 

Best regards,

The Ceres Team

 

Veles litepaper is available here - [https://docs.google.com/document/d/1fm8KXmK4XTf3rZgdcWuqTdO2MW9UqU6NxsecDwb49Hs](<https://docs.google.com/document/d/1fm8KXmK4XTf3rZgdcWuqTdO2MW9UqU6NxsecDwb49Hs>)

 

[UPDATE]

In line with our commitment to transparency and engaging with the community, we're pleased to provide our first bi-weekly update on the progress of the Veles Carbon Credit Pallet, as promised.

Veles update #1 - https://docs.google.com/document/d/1cV6Qnd6sSJDoq_yiqRDycPMsngFZWOTrkwlCqz4XfB4

 

Discover more about us:

Website - [https://ceresblockchain.solutions](<https://ceresblockchain.solutions>)

Linkedin - [https://www.linkedin.com/company/ceres-blockchain-solutions-llc](<https://www.linkedin.com/company/ceres-blockchain-solutions-llc>)

Twitter - [https://twitter.com/ceresblockchain](<https://twitter.com/ceresblockchain>)

Email - [office@ceresblockchain.solutions](<mailto:office@ceresblockchain.solutions>)

![logo](https://i.ibb.co/84zwbzq/Veles-logo-250x138px.png)

Dear Polkadot Community, 

 

Ceres Blockchain Solutions is thrilled to propose the Veles pallet for enhancing the carbon credit market within the Polkadot ecosystem. This initiative aims to introduce a reliable, transparent solution for carbon credit management, leveraging blockchain to ensure accuracy and security in carbon credit issuance and trading. 
This is an idea/project that was supposed to be part of the **Substrate Builders Program** before it was discontinued. Parity engineers have reviewed the code of our other products. They were satisfied with our work and wanted to give us the green light to become part of the Substrate Builders Program. 
Veles addresses critical issues like fraudulent credits and speculative pricing, promoting environmental sustainability. We're dedicated to supporting Polkadot's growth, contributing a tool that benefits both the ecosystem and our planet. 

 

Best regards,

The Ceres Team

 

Veles litepaper is available here - [https://docs.google.com/document/d/1fm8KXmK4XTf3rZgdcWuqTdO2MW9UqU6NxsecDwb49Hs](<https://docs.google.com/document/d/1fm8KXmK4XTf3rZgdcWuqTdO2MW9UqU6NxsecDwb49Hs>)

 

Discover more about us:

Website - [https://ceresblockchain.solutions](<https://ceresblockchain.solutions>)

Linkedin - [https://www.linkedin.com/company/ceres-blockchain-solutions-llc](<https://www.linkedin.com/company/ceres-blockchain-solutions-llc>)

Twitter - [https://twitter.com/ceresblockchain](<https://twitter.com/ceresblockchain>)

Email - [office@ceresblockchain.solutions](<mailto:office@ceresblockchain.solutions>)

Veles project proposal - Carbon credits pallet

Dear Polkadot Community, Ceres Blockchain Solutions is thrilled to propose the Veles pallet for enhancing the carbon credit market within the Polkadot ecosystem. This initiative aims to introduce a reliable, transparent solution for carbon credit management, leveraging blockchain to ensure accuracy and security in carbon credit issuance and trading. Veles addresses critical issues like fraudulent credits and speculative pricing, promoting environmental sustainability. We're dedicated to supporting Polkadot's growth, contributing a tool that benefits both the ecosystem and our planet. Best regards,
The Ceres Team
 Veles litepaper is available here - <a href="https://docs.google.com/document/d/1fm8KXmK4XTf3rZgdcWuqTdO2MW9UqU6NxsecDwb49Hs">https://docs.google.com/document/d/1fm8KXmK4XTf3rZgdcWuqTdO2MW9UqU6NxsecDwb49Hs</a>
 Discover more about us:
Website - <a href="https://ceresblockchain.solutions">https://ceresblockchain.solutions</a>
Linkedin - <a href="https://www.linkedin.com/company/ceres-blockchain-solutions-llc">https://www.linkedin.com/company/ceres-blockchain-solutions-llc</a>
Twitter - <a href="https://twitter.com/ceresblockchain">https://twitter.com/ceresblockchain</a>
Email - <a href="mailto:office@ceresblockchain.solutions">office@ceresblockchain.solutions</a>

**About** Ceres Blockchain Solutions is a software company, based in Belgrade, focused on design, development and implementation of software solutions based on Web3. In addition to developing in-house products, we empower innovative minds in the Web3 space to deliver sustainable software solutions that bring their ideas to reality, through our comprehensive consulting and outsourcing services. The Ceres Blockchain Solutions team is most recognizable by its in-house project Ceres, which brings with it several Web3 platforms and services such as Liquidity Locker, Launchpad, Demeter Farming platform and DEO Arena Play-to-Earn game. **Background** We have already developed several products within the Polkadot ecosystem, with our products being present on the SORA and Astar networks. Additionally, we are currently working on some other projects within the Polkadot ecosystem. This is the first tool that we propose within the Polkadot Governance. Our commitment remains steadfast in delivering value to the Polkadot ecosystem and actively collaborating to foster its growth. Some of our already built products: Ceres dApps - Ceres is an in-house project which is intended as a DeFi service provider in the Polkadot ecosystem. The Ceres dApps platform includes services such as Liquidity Locker and Token Locker, available on both the SORA and Astar networks. Ceres Launchpad - The Launchpad platform is the first station for new projects on the SORA network. With Launchpad, new projects can easily launch their tokens on Polkaswap and users get more security because the Ceres Liquidity Locker and Ceres Token Locker are integrated. Demeter Farming - The Demeter Farming platform is the first of its kind on the SORA network. The unique feature of this platform is the user's ability to farm with the same liquidity in multiple pools. The Platform also provides Farming-as-a-Service, which means that every project can create its farming/staking pools without coding. DEO Arena - The DEO Arena is the first Play-to-Earn game on the SORA network. In-game currency is the XOR-native token Demeter (DEO). Players spawn in the arena and the goal is to eliminate opponents using different weapons. Each player enters the match with a certain amount of DEO tokens, which are taken by the winner at the end. Hermes DAO Governance - The Governance platform is a tool for implementing the concept of decentralization in the Hermes DAO. Any user holding Hermes (HMX) tokens above a set limit is able to create a poll. Likewise, each voter who has more than the set minimum amount of Hermes (HMX) tokens, has the same voting power as anyone else. Ceres Tools - Ceres Tools is a platform which displays data from the Polkaswap DEX. Users are able to track tokens prices, pairs liquidity, pools details, volumes, charts, swaps, transfers, etc. The platform is also available in the form of a mobile application for Android and iOS. **Veles project proposal - Carbon credits pallet** The general premise behind the Veles pallet is to create a plug and play solution that could be used by any Substrate blockchain to enable its users to register, track, issue and retire carbon credits. Veles litepaper is available here - [https://docs.google.com/document/d/1OC\_9Ud4BeidaE4wsFxH9IIqJNspjI3GoJjsZJbzxXNM](<https://docs.google.com/document/d/1OC_9Ud4BeidaE4wsFxH9IIqJNspjI3GoJjsZJbzxXNM>) **Vision** The idea and vision behind this pallet is to bolster the concept of the carbon credit market and to allow for it to prosper and grow in a more transparent, safe and secure way. We envision a number of such pallets to be deployed on various Substrate chains where validators are represented by the scientific community and the project owners are small to medium size companies/collectives that want to preserve an eco-friendly way of living. Carbon credits (CC), also known as carbon offsets, are a financial instrument that represents a reduction in greenhouse gas (GHG) emissions. They are a key component of carbon trading, a market-based approach to mitigating climate change. The basic idea behind carbon credits is to incentivize organizations and individuals to reduce their carbon emissions by assigning a financial value to each ton of carbon dioxide (CO2) or other greenhouse gasses they emit. CC are generated by emission reduction projects by measuring and verifying how much CO2 does that project capture. After the issuing of CCs they can be traded and retired. **Other solutions vs Veles** While other blockchain related solutions do exists (in the forms of pallets, para/main chains, smart contracts and DAOs), they usually fall victim to two project-ending issues, these being the the issuing of CCs without any chain-based proof (thus leading to a number of false CCs) and allowing for the buying and sale of CCs based on speculative pricing (this in turn will put a project in a risky financial position as the price of its tokens could fluctuate heavily which would not reflect the actual price of the carbon credit). Our solution aims to solve this by firstly having a project documentation requirement for each CC batch per each project - meaning that a project needs to submit adequate data that backs up their claim for the generated CCs. Secondly, our solution (pallet) will function more as a public ledger that tracks the entire process behind each CC and how it is used throughout its lifecycle than for speculative purposes. In addition, in the chance that a problem does occur with the validity of the origin of CC, our solution will have a means to mitigate the damage that was done. **Time and Budget breakdown** The Veles project aims to be a common good, a plug & play solution that all Substrate chains can use in their own way. The entire budget will be allocated to development purposes. The implementation phase is estimated to last approximately 3 months. Two engineers will be working on this project. Estimated BDD (Base Developer Day): 60 **Links** Website - [https://ceresblockchain.solutions](<https://ceresblockchain.solutions>) Linkedin - [https://www.linkedin.com/company/ceres-blockchain-solutions-llc](<https://www.linkedin.com/company/ceres-blockchain-solutions-llc>) Twitter - [https://twitter.com/ceresblockchain](<https://twitter.com/ceresblockchain>) Email - office@ceresblockchain.solutions

- **Problem Statement:** Addressing issues of fraudulent credits and speculative pricing in the carbon credit market within the Polkadot ecosystem.
- **Significance:** Enhancing environmental sustainability by providing a reliable and transparent solution for carbon credit management.
- **Proposed Solution:** Introducing the Veles pallet to leverage blockchain technology for accurate and secure carbon credit issuance and trading.
- **Expected Outcomes:** Contributing to Polkadot's growth by offering a tool that benefits both the ecosystem and the environment.

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#496 Veles project proposal - Carbon credits pallet