Unlock the World of Carbon offset Ownership

One (1) Terrapass Coin (“Token” or “TPSC”) represents one (1) metric ton of carbon offsets that meet the Terrapass Coin Standard (click here for more information on the Terrapass Coin Standard). TPSC is a way to give Terrapass customers the ability to own and exchange carbon offsets. TPSC is an ERC-20 token, stored and sent using the Polygon network. Only certain Terrapass products accrue TPSC. The TPSC contract address is: 0x0a2a95978ce57395dbf33696d34e222e1eacde4e

While all carbon offset products allow you to make a positive impact to our environment, you can think of the TPSC product as the premium carbon offset product in the market. TPSC is the proof that you possess a high-quality carbon offset that meets the TPSC Standard. Not only that, but the TPSC enables you to perform transactions that cannot be done previously at an individual level – you can now easily hold and transfer/gift carbon offsets, in addition to retiring them to offset your carbon footprint.

Here are some step-by-step instructions on what you should do after your purchase of a Terrapass Coin product:

1. Set up a new crypto wallet that is compatible with custom ERC-20 tokens if you do not already have one. If you do, you may use the same one. Please refer to this FAQ for more info regarding crypto wallets.
2. Log into your Terrapass Account
3. Enter your crypto wallet account’s public address into the “Crypto Wallet Public Address” field in your account. Please do so no later than the first day of your first funding month. Please ensure your wallet address is entered correctly, as all transactions made with crypto are permanent and irreversible.
4. Depending on your crypto wallet, you may need to explicitly add the Polygon network and/or the TPSC contract address so you can see your TPSC. The contract address is 0x0a2a95978ce57395dbf33696d34e222e1eacde4e.

For help on how to find your wallet’s public address, add the Polygon network, or how to add a new custom ERC-20 token to your wallet, please refer to your selected crypto wallet’s instructions. We have also put together the following quick reference chart for popular crypto wallets:

At this time, centralized exchange wallets are currently ineligible to receive Terrapass Coin. TPSC transferred to unsupported centralized exchanges or wallets will be unrecoverable and transactions are not revisable. For instance, Coinbase Wallet is different than Coinbase.com despite both having a mobile app. Coinbase.com is unsupported and should not be utilized to accept or transfer TPSC. Please reference the links below for further information regarding unsupported crypto exchanges and wallets:

• Coinbase*
• Binance
• Blockchain

If you use Exodus or Atomic Wallet, please follow the instructions they have provided for opening up your wallet in Metamask to view your Terrapass Coin:

• Exodus
• Atomic

Polygon is a protocol and a framework for building and connecting Ethereum-compatible blockchain networks.

To receive your TPSC, you will need a cryptocurrency (crypto) wallet. A crypto wallet functions like a traditional wallet, but instead of paper currency, it holds proof of your digital cash or tokens. It allows to you store, send and receive cryptocurrency to/from anyone in the world.

A crypto wallet stores the public and private keys required to transact with TPSC or other cryptocurrencies, and provides digital signatures authorizing each transaction. These digital wallets can be a device, a program on an app or online website, or a service offered by crypto exchanges.

You’ll need to keep safe and secure your private key that allows you to unlock your crypto wallet in order to trade or spend your cryptocurrency.

There are 4 types of wallets: Desktop, Mobile, Web and Hardware.

Desktop Wallet: Desktop wallets are apps that run on your computer and store all your cryptocurrency on your desktop computer. The advantage of a desktop wallet is you have complete control of your funds. Security is your responsibility, so you’ll need to secure and back up your wallet, and make sure your computer is safe from malware. Exodus and Atomic Wallet are popular desktop wallets, but they do not currently support the TPSC on the Polygon network.

Mobile Wallet: Mobile wallets are apps that run on your smartphone to store and control your funds. Mobile wallets for iOS and Android operating systems are the most convenient for face-to-face payments and the use of QR codes to make quick payments. Like desktop wallets, you’ll be responsible for backing up your device to keep your digital cash safe from damage, theft or loss of the device. Metamask is a popular mobile wallet.

Web Wallets: Web wallets offer browser-based wallets that can be used either on desktop or mobile but don’t provide the full control that traditional desktop or mobile wallets offer. Metamask and Coinbase Wallet* are a popular wallets which function as Browser add-ins making them a convenient way to transact.

Hardware Wallets: Hardware wallets are safer than the other wallets as they store your public and private keys on a separate device that functions like a USB drive. It allows you to make online transactions but store your keys offline. One downside is that there is typically a higher upfront cost of purchasing the device and it is less convenient for on-the-go transactions. Ledger is a popular brand for hardware wallets.

Metamask and Coinbase Wallet are great wallets for your TPSC on the Polygon network. There are other options out there not mentioned here that you may use for your TPSC, but please be sure to select one that can support custom ERC-20 tokens on the Polygon network.

1.  In support of our mission to reduce our carbon footprint, we’ve chosen to move Terrapass Coin (TPSC) to the the Polygon network. The Polygon network utilizes proof of stake protocol, rather than proof of work   protocol like Ethereum, which requires less computing power and therefore less electricity. Utilizing less electricity means less carbon and greenhouse gases are produced when transacting with Terrapass and the Terrapass Coin (TPSC). 
2. The Polygon network is less costly than other networks like Ethereum. That means TPSC can be retired, exchanged, or gifted more freely and more people can take advantage of utlizing carbon offsets to offset their carbon emmissions.  
3. Read more about the eco-friendly blockchain on Polygons blog.

4. IMPORTANT: As a result of moving to the Polygon network our retirement wallet address has changed to 0xe2f5f6D02FeA8aC47De529a24545e64e33607FA3. 

See TPSC on Polygon

The chart below shows the schedule in which Terrapass funds each eligible customer’s wallet with the equivalent number of coins purchased. The funding happens by the last day of four (4) specific months in the year – December, March, June, September.

For example, if you purchase a Terrapass Coin product on September 15, 2021, October 15, 2021 and November 15, 2021, you will receive the associated number of Terrapass Coins from these three (3) purchases in your crypto wallet by December 31, 2021. However, the Terrapass Coins associated with a purchase made in December 2021 will be funded on the following funding date, which is by March 31, 2022. However, these dates may change. Refer to the terms and conditions for updated information.

Once your Terrapass Coins have been deposited into your crypto wallet, you can

1. hold on to them,
2. transfer/gift them,
3. retire them (i.e. Terrapass will retire the equivalent amount of carbon offsets),

Please refer to the instructions specific to the crypto wallet you opt to use on how to perform the above actions. If you choose to gift or retire your coins please note that such actions are irreversible due to the nature of cryptocurrency. The chart below is a quick reference guide on how to perform these actions if you use one of these software-based crypto wallets:

A Secret Recovery Phrase is a set of twelve words that contains all the information about your cryto account, including your funds. You may think of it as the key to your account. You will need it if you ever want to switch crypto wallets. Please make sure to keep it in a safe place because if you lose it, no one can recover it for you. If someone gets your Secret Recovery Phrase, they’ll gain control over your accounts. Terrapass is not liable for any Terrapass Coins lost due to the loss of a secret recovery phrase. Please refer to the Terrapass Coin Product Terms and Conditions for more details.

Gas in cryptocurrency refers to the unit that measures the amount of computational effort required to execute specific operations on Polygon. Gas fees are essentially network/transaction fees on the Polygon network. It’s a fee paid in MATIC to the crypto miners who process your transactions.

Since different transactions may take different computational effort, the gas fee required may differ by transaction. You may set a gas fee limit, but the gas fee you’re willing to pay will determine whether miners are willing to include your transaction in the next block, which impacts how long you may have to wait till your transaction is executed. When you perform a transaction, your crypto wallet should advise you of the gas/network/transaction fee as well as any other fees involved. To transact with your Terrapass Coins, you will need to have some MATIC in your account to pay for gas fees.

Your purchase funds carbon offset projects that meet the Terrapass Coin Standard. Please see the list of completed and future projects here

No, you need to retire Terrapass Coins (1 TPSC = 1 metric ton carbon offset) in order to address your carbon footprint with Terrapass Coin Standard carbon offsets. From your wallet, please send the desired amount of Terrapass Coins to this public address: 0xe2f5f6D02FeA8aC47De529a24545e64e33607FA3

In order to retire Terrapass Coin Standard carbon offsets, you must retire your TPSC. To do so, from your crypto wallet that holds your TPSC, send the TPSC to this public address: 0xe2f5f6D02FeA8aC47De529a24545e64e33607FA3. Terrapass will retire the equivalent amount of TPSC Standard carbon offsets. Your retired TPSC will no longer be in circulation.

You may only retire carbon offsets from TPSC products once your TPSC have been funded to your wallet.

While you may send TPSC to the retirement address at any time, Terrapass will retire the equivalent amount of TPSC Standard carbon offsets as scheduled below:

Terrapass posts total TPSC retirements and equivalent carbon offset retirements on a quarterly basis here. Carbon offset retirement information includes project name, type, location, vintage and unique serial numbers.

A licensed tax consultant is in the best position to answer any tax questions you may have.

Terrapass coins are now available to residents worldwide.

If you’d like to switch from your existing Terrapass subscription to a TPSC subscription, please cancel your existing Terrapass subscription and sign up for a new TPSC subscription.

Refunds will be approved if requested within 10 business days of your Terrapass Coin (TPSC) subscription. To request a refund for your Terrapass purchase, send us an email at Terrapasscoin@terrapass.com.