Retirement Information

Retirement Process

  • Any user that has undergone KYB and has credits in their inventory can retire credits.

  • Retiring credits refers to sending credits / tokens to a wallet which they can not be retrieved from. This means they can no longer be sent to anyone else and the benefit is tied to the last owner.

  • The beneficiary and retirement purpose must be recorded and displayed in OCP registry in order for credit to be retired. Beneficiaries undergo KYB, as well.

  • All associated retirement information (i.e. beneficiary, credit quantity, and any additional ownership transfers) are made publicly available in the registry.

  • In the event that credits are found to be erroneous either by grievance submission or during an annual audit, retired credits will be cancelled and cannot be used anymore.

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