The Regen Network Development (RND) team is gearing up for the release of Regen Ledger v2.0, which will include the first version of the ecocredit module on Regen Mainnet. This first version of the ecocredit module will be permissioned, meaning only accounts approved through an on-chain governance process will have the authority to create credit classes. The list of approved credit class designers will be an on-chain parameter that will require a parameter change proposal in order to be updated. There will also be an on-chain parameter that determines whether the list of authorized credit class designers is in effect, which will be enabled on Regen Mainnet (authorized credit class designers required) and disabled on our test networks (no authorization required to create a credit class). With the upgrade to Regen Ledger v2.0, the list of authorized credit class designers on Regen Mainnet will initially be empty. The RND team plans to initiate a subsequent proposal adding an RND owned address to the allowlist, following the same process that other groups will be asked to follow.
The decision to make the ecocredit module permissioned is to ensure that we are providing the best user experience for projects looking to create credit classes and issue credits. Although we are confident that the ecocredit module is ready for Regen Mainnet, we are also aware that there may be some adjustments that need to be made when we introduce the data module. We believe a permissioned approach to the ecocredit module is the best path forward at this time, ensuring that authorized credit class designers are ready to work closely with the RND team to make the necessary migrations if and when the time comes. With this approach, the Regen Network community (REGEN token holders) will ultimately decide which accounts will be included as authorized credit class designers on Regen Mainnet.
Regen Ledger v2.0 also introduces the notion of “credit type” as an on-chain parameter for the first time. The default value includes an initial “carbon” credit type, intended to be used by all credit classes which use metric tons CO2 equivalent as a primary indicator / unit of measurement. The initial carbon credit type will be the credit type used for our own CarbonPlus Grasslands credit class, which will be the first credit class created if the RND team receives approval from the Regen Network community to be added to the list of authorized credit class designers.
The initial carbon credit type will have the following properties:
For more information about the ecocredit module, see the following RFC:
In addition to the ecocredit module, the Regen Ledger v2.0 upgrade will include an update to Cosmos SDK v0.43 and the addition of the feegrant and authz (“authorization”) modules. The feegrant module will enable the ability for a granter to grant an allowance to a grantee where the allowance is used to cover fees for sending transactions. The allowance can either be a periodic allowance that automatically resets after a set time or a one-time allowance that has a one-time spending limit. The authz module will enable a granter to grant an authorization to a grantee that allows the grantee to execute messages on behalf of the granter.
For more information about the Regen Ledger v2.0 upgrade, see the following blog post:
The purpose of this post is to lay the groundwork for a signalling proposal that the RND team is planning to submit after the Regen Network community has had a chance to ask questions and provide comments. The signalling proposal will include an overview of the permissioned ecocredit module approach, the changes included in Regen Ledger v2.0, and the criteria and process for becoming an authorized credit class designer. The criteria and process will be further specified in an accompanying document hosted on IPFS or within the proposal itself. In short, the criteria for becoming an authorized credit class designer will include the following:
- demonstrate a well-thought out credit class design
- demonstrate desire and capacity to work with the RND team on data migration for credit class metadata (should the schema change in Regen Ledger v3.0)
- socialize candidacy as a credit class designer with the Regen Network community via a forum post and engaged discussion
Once socialization has been conducted, formal credit class applications will be processed via an on-chain parameter change proposal.
The results of the signalling proposal will be interpreted as follows:
- A Yes result on the proposal would provide a clear signal that the Regen Network community accepts and understands the decision made to pursue a permissioned ecocredit module design, the upgrade to Regen Ledger v2.0, and the criteria and process for becoming an authorized credit class designer.
- A No result on the proposal would force reconsideration of the upgrade to Regen Ledger v2.0, the permissioned ecocredit module design, and/or the criteria and process for becoming an authorized credit class designer.
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