BCO Protocol
Biocoin (BCO) is a forest-backed TRC20 token with elastic supply, issued by REcologic. Each BCO represents exactly 1 square meter of verified forest land, with the supply-to-area ratio permanently enforced on-chain.
Core Concept
Unlike stablecoins backed by fiat reserves held off-chain, BCO's backing is enforced at the smart contract level. The protocol makes it mathematically impossible to mint tokens without registering a corresponding forest deed, or to remove a deed without burning the equivalent tokens.
totalSupply() == totalActiveArea() × 10¹⁸
This invariant is publicly verifiable by anyone via verifyInvariant() — no trust required.
Protocol Architecture
┌──────────────────┐
│ Biocoin (BCO) │
│ TRC20 Token │
│ IMMUTABLE │
└──┬───────────┬───┘
│ │
mint/burn │ │
┌──────────┘ └──────────┐
▼ ▼
┌───────────────────┐ ┌───────────────────┐
│ DeedRegistry │ │ BCOStaking │
│ UUPS Proxy │ │ UUPS Proxy │
│ │ │ │
│ Registers forest │ │ Deposit BCO to │
│ deeds on-chain │ │ earn rewards │
└───────────────────┘ └───────────────────┘
Contracts
| Contract | Type | Description |
|---|---|---|
| BCOToken | Immutable | TRC20 token — no freeze, no seize, full self-custody |
| DeedRegistry | UUPS Proxy | Registers verified forest deeds, mints and burns BCO |
| BCOStaking | UUPS Proxy | Stake BCO to earn rewards (Synthetix model) |
| TimelockController | Immutable | 72h delay for governance transparency |
Key Properties
- Immutable token — BCOToken cannot be upgraded, frozen, or seized. Holders have full custody.
- Elastic supply — Expands when forest deeds are registered, contracts when deeds are deactivated.
- No public burn — Holders cannot burn their own tokens. Only DeedRegistry can mint and burn.
- On-chain proof —
verifyInvariant()lets anyone verify the 1:1 backing ratio at any time. - Multi-sig governance — All admin operations require 3/5 Gnosis Safe signatures.
- Progressive timelock — Upgrades require a timelock delay once supply exceeds 1M BCO.