How It Works

How Does PayMyWay calculate the cost of my carbon impact?

PayMyWay uses the Eco-Smart Toolbox  to calculate the carbon footprint of your expenses using categories of spending.  Eco-Smart protocol has been tested and proven to be an accurate estimate of negative carbon impacts produced from various sectors of our economy.

We transparently value each metric Carbon tonne at 15 USD.

If we plan to change this in reaction to market fluctuations, all users will be notified in advance.

What does making a carbon offset payment in the app do?

When users make a payment towards their carbon offset in the app, PMWR (PayMyWay receipt) tokens are credited to their Stellar wallet.

Each PMWR in minted at a 1:1 ratio when a RETCBNR is sent to a locked wallet.

A RETCBNR is a retired carbon credit, or a retired CBNR. Each CBNR represents 1 metric carbon tonne (15 USD).

Therefore, when a user makes a payment towards their carbon impact in the app, a CBNR (carbon credit) is retired for each metric carbon tonne the user pays off. This is all tracked on the Stellar blockchain which can be viewed on the Stellar Expert block explorer, or through the "view on the blockchain" option in your Carbon Dashboard.
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