Veles - Carbon Credits Pallet
  • Get Started
    • What is the Veles pallet
    • What are carbon credits
    • How to use the Veles pallet
  • Pallet entities and functionalities
    • Entities
      • Authority Accounts
      • Carbon Footprint Accounts
      • Trader Accounts
      • Project Owner Accounts
      • Validator Accounts
      • Projects
      • Carbon Credit Batches
    • Functionalities
      • Authority exclusive functionalities
        • Update vote pass ratio
        • Update penalty levels
        • Update beneficiary splits
        • Update time value
        • Update fee value
      • Validator exclusive functionalities
        • Cast vote
        • Open complaint
      • Project owner exclusive functionalities
        • Propose project
        • Propose carbon credit batch
        • Repay debts
      • Carbon footprint account exclusive functionalities
      • General functionalities
        • Register for trader account
        • Register for project validator account
        • Register for project owner account
        • Submit carbon footprint report
        • Create sale order
        • Close sale order
        • Complete sale order
    • Timed events
    • Penalty rules
  • Contact
    • Contact
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  1. Pallet entities and functionalities
  2. Functionalities
  3. Project owner exclusive functionalities

Repay debts

If by chance, a project owners carbon credit batch gets voted on for redaction from the market place, the direct owner of that batch (i.e. project owner that owns the project that produced the tokens) needs to repay the holders of said batch and any carbon footprint account that might have used some tokens from the batch to reduce their carbon footprint.

In order for a project owner to repay any ongoing debts he/she can utilize the repay_project_owner_debts() functionality. This functionality will retrieve all of the acqumulated debts that a project owner could have and pay them if the owner has enough fonds.

It is worth mentioning that this is the only transaction operation on the pallet that doesn't adhere to the penalization rules which impact other such transactional functionalities.

Example:

To best understand this functionality, let's say that the project owner (PO for shorten) has a carbon credit batch (CCB for shorten) which has a penalty repay price of 5 MUINT per carbon credit. This means that in the scenario in which that carbon credit batch gets redacted, the project owner needs to pay each third party owned token times 5 MUINT to the corresponding owner.

Following our example, let's say that we have two carbon credit holds where the first one (Holder #1 for our ease of understanding) holds 120 credits and the second one (Holder #2 for our ease of understanding) holds 50 credits. Apart from this we also have a carbon footprint account (CFA) that user 50 credits from the corresponding carbon credit batch to decrease his/hers carbon footprint.

Once the batch gets redacted the project owner will have to pay back the following debts: 600 MUINT to Holder #1, 250 MUINT to Holder #2 and 250 MUINT to the CFA. If the project owner does not do this he/she will be bared from performing any other operation on the network.

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Last updated 10 months ago