PlantCard Technical Whitepaper

A GBP-Backed Stablecoin Protocol with Integrated Sustainability Funding

Version 1.0 | January 2025 | Download PDF

Table of Contents

1. Abstract

PlantCard (PLANT$) introduces a novel approach to stablecoin design by combining British Pound (GBP) reserve backing with automatic sustainability funding. This whitepaper outlines the technical architecture, security framework, and economic model of a stablecoin protocol that maintains price stability while directing a portion of transaction fees to verified environmental projects.

Built on Polygon network for scalability and low transaction costs, PLANT$ operates with full reserve backing, transparent auditing, and institutional-grade security measures. The protocol integrates on-chain sustainability tracking, enabling every transaction to contribute to reforestation, carbon offset, and environmental conservation initiatives.

1:1
GBP Reserve Ratio
100%
Collateralization
0.3%
Sustainability Fee
Polygon
Blockchain Network

2. Introduction

2.1 Problem Statement

The cryptocurrency ecosystem faces several critical challenges:

2.2 PlantCard Solution

PlantCard addresses these challenges through:

2.3 Key Innovations

Unique Value Propositions:
  • First stablecoin with integrated sustainability funding mechanism
  • GBP-backed (not USD), serving UK and Commonwealth markets
  • Physical hemp-based payment card (biodegradable)
  • Direct support for 50+ farming families in Uttarakhand
  • Carbon-negative physical card production

3. Technical Architecture

3.1 Blockchain Infrastructure

Network: Polygon (Matic) Mainnet

Rationale:

3.2 Smart Contract Architecture

Core Contracts

Contract Function Security Level
PlantToken.sol Main ERC-20 token with sustainability fee mechanism Critical
ReserveManager.sol Manages minting/burning based on reserve proof Critical
SustainabilityFund.sol Collects and distributes sustainability fees High
DAOGovernance.sol Community governance and voting High
ImpactTracker.sol On-chain sustainability impact tracking Medium

Token Contract (Simplified)

pragma solidity ^0.8.19;

contract PlantToken is ERC20, Pausable, Ownable {
    uint256 public constant SUSTAINABILITY_FEE = 30; // 0.3% in basis points
    uint256 private constant BASIS_POINTS = 10000;
    
    address public sustainabilityWallet;
    address public reserveManager;
    
    mapping(address => bool) public feeExempt;
    
    function transfer(address to, uint256 amount) 
        public override whenNotPaused returns (bool) {
        
        uint256 fee = _calculateFee(msg.sender, to, amount);
        
        if (fee > 0) {
            _transfer(msg.sender, sustainabilityWallet, fee);
            emit SustainabilityContribution(msg.sender, fee);
        }
        
        _transfer(msg.sender, to, amount - fee);
        return true;
    }
    
    function _calculateFee(address from, address to, uint256 amount) 
        private view returns (uint256) {
        
        if (feeExempt[from] || feeExempt[to]) return 0;
        
        return (amount * SUSTAINABILITY_FEE) / BASIS_POINTS;
    }
}

3.3 Oracle Integration

For GBP price feeds and reserve verification:

3.4 Cross-Chain Bridge (Future)

Planned multi-chain expansion:

4. Tokenomics & Reserve Mechanism

4.1 Supply Mechanism

Supply Model: Uncapped, demand-driven

PLANT$ supply is directly tied to GBP reserves. Tokens are minted when users deposit GBP and burned when users redeem PLANT$ for GBP.

Minting Process:
  1. User deposits GBP to authorized partner institutions
  2. Partner verifies deposit and notifies Reserve Manager
  3. Reserve Manager mints equivalent PLANT$ to user's wallet
  4. Reserves are updated and publicly verifiable on-chain
Redemption Process:
  1. User initiates redemption request through platform
  2. Smart contract burns PLANT$ tokens
  3. Reserve Manager releases equivalent GBP from reserves
  4. GBP transferred to user's bank account (1-2 business days)

4.2 Fee Structure

Transaction Type Fee Allocation
Standard Transfer 0.5% 0.3% Sustainability, 0.2% Operations
Minting (GBP → PLANT$) 0.1% 100% Operations
Redemption (PLANT$ → GBP) 0.1% 100% Operations
DeFi Operations 0.5% 0.3% Sustainability, 0.2% Operations

4.3 Sustainability Fee Allocation

4.4 Reserve Management

Reserve Composition:

Custody Partners:

5. Security Framework

5.1 Smart Contract Security

Auditing Standards

Smart Contract Security Measures

Security Feature Implementation
Reentrancy Protection OpenZeppelin ReentrancyGuard on all state-changing functions
Access Control Role-based permissions with OpenZeppelin AccessControl
Pausability Emergency pause mechanism (multi-sig activated)
Upgrade Mechanism Transparent proxy pattern with timelock
Rate Limiting Maximum minting/burning per transaction and per day
Critical Security Notice

All smart contracts have undergone rigorous security audits. However, users should only deposit funds they can afford to lose. Smart contracts carry inherent risks.

5.2 Multi-Signature Controls

Critical operations require multiple approvals:

Operation Required Signatures Signers
Reserve Withdrawal 5 of 7 CEO, CFO, CTO, 2 Board Members, 2 External Auditors
Contract Upgrade 4 of 7 Same as above
Parameter Changes 3 of 7 Same as above
Emergency Pause 2 of 7 Any 2 signers (for rapid response)

5.3 Reserve Security

5.4 Operational Security

5.5 Security Roadmap

Continuous security improvements:

6. Sustainability Integration

6.1 On-Chain Impact Tracking

Every sustainability contribution is recorded on-chain for full transparency: 

struct ImpactRecord {
    address contributor;
    uint256 amount;
    uint256 timestamp;
    string projectId;
    uint256 co2Offset; // in kg
    uint256 treesFunded;
}

6.2 Verified Projects

All sustainability projects must meet strict criteria:

6.3 Current Partners

Partner Focus Area Location
Eden Reforestation Projects Reforestation Madagascar, Haiti, Nepal
Ocean Cleanup Ocean Conservation Global oceans
ClimatePartner Carbon Offset Global
SolarAid Renewable Energy Sub-Saharan Africa

6.4 Physical Card Sustainability

The hemp-based physical card contributes additional environmental benefits:

6.5 Impact Reporting

Users can track their personal environmental impact:

7. Governance Model

7.1 Governance Structure

PlantCard employs a hybrid governance model combining foundation oversight with community participation:

PlantCard Foundation

Community Governance (DAO)

7.2 Governable Parameters

Parameter Current Value Governance Type
Sustainability Fee Rate 0.3% Community Vote
Sustainability Allocation 40/30/20/10 Community Vote
Fee Exemption List Various Foundation + Community
Reserve Composition 90/10 split Foundation Only
Audit Frequency Monthly Foundation Only

7.3 Proposal Process

  1. Discussion Phase: 14 days on governance forum
  2. Temperature Check: Off-chain signaling vote
  3. Formal Proposal: On-chain submission with PLANT$ stake
  4. Voting Period: 7 days
  5. Timelock: 7 days before execution
  6. Implementation: Automatic or manual execution

8. Regulatory Compliance

8.1 Regulatory Framework

PlantCard operates in compliance with UK and international regulations:

UK Compliance

International Compliance

8.2 KYC/AML Procedures

User Type KYC Level Limits
Basic (Unverified) Email only £1,000 lifetime
Standard ID + Proof of Address £50,000/month
Enhanced Full verification + Source of Funds Unlimited
Corporate Company docs + UBO verification Unlimited

8.3 Transaction Monitoring

8.4 Consumer Protection

Regulatory Partnerships:

PlantCard works closely with regulators including the FCA, Bank of England, and HM Treasury to ensure ongoing compliance and contribute to stablecoin regulatory framework development.

9. Development Roadmap

Phase 1: Foundation (Q1-Q2 2025) ✅

Phase 2: Expansion (Q3-Q4 2025)

Phase 3: Ecosystem (Q1-Q2 2026)

Phase 4: Scale (Q3-Q4 2026)

Phase 5: Innovation (2027+)

10. Conclusion

PlantCard represents a new paradigm in stablecoin design—one that combines financial stability with environmental responsibility. By maintaining full GBP reserve backing while directing transaction fees to verified sustainability projects, PLANT$ offers users a way to participate in the digital economy while contributing to global environmental efforts.

The integration of physical hemp-based payment cards, manufactured sustainably in Uttarakhand, India, bridges the gap between digital currency and traditional payment infrastructure. This dual approach—digital stablecoin and physical card—provides users with flexibility while maintaining commitment to sustainability.

Key Takeaways

Vision for the Future

PlantCard aims to become the preferred stablecoin for individuals and businesses who value both financial stability and environmental responsibility. Through continuous innovation, regulatory cooperation, and community governance, we are building the foundation for a more sustainable financial future.

Join the Movement

Every PLANT$ transaction plants trees, offsets carbon, and supports sustainable communities. Together, we can build a financial system that benefits both people and planet.

Get Started with PlantCard

Appendix

A. Technical Specifications

Token StandardERC-20
BlockchainPolygon Mainnet
Contract Address0x... (to be deployed)
Decimals18
Total SupplyUncapped (demand-driven)
Transaction Fee0.5% (0.3% sustainability + 0.2% operations)

B. Legal Notices

This whitepaper is for informational purposes only and does not constitute financial advice, investment advice, or an offer to sell securities. PLANT$ tokens are not securities and do not represent ownership in any company or entitlement to profits.

C. Risk Disclosures

D. Contact Information

E. Document History

© 2025 PlantCard Foundation. All rights reserved.

This document is subject to updates. Please check plantcard.io for the latest version.