The PLASTIK token is used as a transparent, traceable proof of payment between plastic credit purchasers and recovery entities, functioning as a digital receipt logged on the blockchain.
Track, fund, and transform global plastic recovery with PLASTIK tokens. Built on the CELO blockchain, our unique tokenomics model bridges technology and sustainability, ensuring transparent impact and reducing token supply with every plastic credit sold.
The token serves as a payment traceability tool. The Plastik token´s utility consists of tracking the progress of the sale of plastic credits corresponding to the roadmap that a recovery entity is attempting to fund. Once the number of plastic credits sold corresponds to the roadmap amount is achieved, the tokens are returned to Plastiks to release the funds for the implementation of the roadmap.
Specifically, the Plastik token´s utility consists of tracking the progress of the sale of plastic credits corresponding to the roadmap that a recovery entity is attempting to fund. Once the number of plastic credits sold corresponds to the roadmap amount is achieved, the tokens are returned to Plastiks to release the funds for the implementation of the roadmap.
Each time a Plastic Credit is sold, 80% of the value is sent to the waste Recovery Entity’s account in the form of PLASTIK tokens.
Once the recovery entity has sold all the plastic credits required to fulfil their roadmap, they return the tokens. Once the tokens are returned to Plastiks, the funds that are held in custody by Plastiks until the number of plastic credits needed to fulfil the roadmap are sold, are transferred via USD or EUROS.
Each time Plastiks are used to transfer plastic credits from the seller to the buyer, there is a 2% token fee that is paid for the use of the token. This fee is used to buy PLASTIK tokens from the market to reflect the progress being made of plastic recovery with the goal of reducing the supply of available tokens to 1 remaining Plastik Token.
PLASTIK operates on the environmentally-friendly CELO blockchain, which offers complete transparency and traceability for every transaction. This ensures that all activities, from token movements to project funding, are publicly accessible and verifiable.
Token symbol: PLASTIK
Smart Contract Address: 0x27cd006548dF7C8c8e9fdc4A67fa05C2E3CA5CF9
This address is the smart contract that manages balances and features of PLASTIK. It’s crucial not to send tokens directly to this address, as it’s strictly for contract management.
