04.30.2017
DAO IPCI decentralized application (https://dapp.ipci.io) security deposit smart contract has been introduced. Security deposit contract allows for issuance (registration) of environmental units secured by Mitigation Token (MITO) deposit.
Just as Security Reserve Contract does, Security Deposit Contract provides for registration (issuance) only of the environmental units verified (assured) by the Independent entity. The Issuer’s responsibility is supported not by reservation of a share of environmental units but by security deposit.
The logic of the Contract:
- The Issuer creates new environmental units registry indicating the name of the unit and of the independent entity group
- Independent entity creates security deposit contract indicating environmental units registry address and Issuer’s contact address
- The Operator establishes security deposit in Mitigation Tokens percent
- The Issuer places the deposit
- The Independent entity registers environmental units
- Only environmental units secured by the deposit are actually issued
The new contract extends opportunity to issue environmental units while preserving issuer’s responsibility principle.
Security Deposit Contract allows for registration of quotas (allowances) and credits, including pending verification (assurance) credits.
Contact: info@ipci.io