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FarmBit Review Farmbit.io African project 2021-2022

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FarmBit is a DeFi platform that provides access to bankless liquidity for agribusinesses in emerging markets, making them accessible to a global, decentralized marketplace

With FarmBit, businesses can, access DeFi liquidity and exchange financial documents securely:

DeFi Access – A set of smart contracts, we call FarmBit Pool provides business owners with the ability to unlock the potentials of their assets, represented by NFT to access DeFi liquidity without going through traditional financial institutions. These asset classes create a stable return for investors plus $FMB tokens rewards.

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Messaging Protocol – Businesses will gain access to our p2p messaging protocol to allow them store and exchange financial documents in a private, secure way.

Farmbit Providing access to Bankless liquidity for Agribusinesses and warehouse assets in developing countries. FarmBit is bringing non-fungible assets to DeFi, making them accessible to a global, decentralized marketplace

FarmBit DeFi & NFT Ecosytem for Agribusinesses

FarmBit opens up economic opportunities for Agribusinesses and warehouses in developing countries.

$FMB Use Cases

Payment of Fees

$FMB will be used to pay transaction fees and the network’s default charges.

Reward program

Lenders and Borrowers are rewarded with $FMB for participating in the platform activities.

Staking

$FMB holders can stake tokens to verify transactions and support the network to earn more tokens.

Payment of Fees

$FMB holders participate in on-chain voting and have the ability to make decisions regarding fees and future upgrades.

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Agribusiness Financing Meets DeFi & NFT

$FMB is the native token on the FarmBit network. $FMB Tokens are used to reward users for participating in different operations on the network. $FMB holders participate in governance through on-chain voting. Token holders can make decis

ions to upgrade the protocol, including adding new functionality or amend the fee structure. This includes control over how functions such as risk models, liquidity provision, and reputation for participating entities

FarmBit Features

High Interest Rates

Up to 22% APY. Traditional interest rates offer 1 – 2% APY.

Decentralized Insurance

For adequate protection on Agribusinesses and warehouse assets.

A Global Access

Financing assets and providing liquidity is open to everyone.

Earn Interest and $FMB Tokens

Provide liquidity and earn high interest plus $FMB tokens

Flexible Loans

Fast access to cheap financing for small and large Agribusinesses.

$FMB Tokens

$FMB tokens are used to incentive user’s operations on the network and serve as an essential tool for governance on the FarmBit protocol

Frequently Asked Questions

What is Defi

Defi is a blockchain-based form of finance that does not rely on central financial intermediaries such as brokerages, exchanges, or banks to offer traditional financial instruments and instead utilizes smart contracts on blockchains.

What is An Nft

A non-fungible token (NFT) is a unit of data stored on a digital ledger, called a blockchain, that certifies a digital asset to be unique and not interchangeable. NFTs can represent items such as photos, documents, agreements, assets, and lots more.

What is Agribusiness financing

Agribusiness financing is a form of financing that involves a loan made by a financial institution to a company, manufacturer, processor, farmer, and aggregator. Existing business assets, land, or commodities are used as collateral for the loan. The goods are inspected and certified by a financing company to ensure the borrower owns the asset used to back the loan.

What is Warehouse financing

Warehouse financing is a form of inventory financing that involves a loan made by a financial institution to a company, manufacturer, processor, farmer, and aggregator. Existing inventory, goods, or commodities are transferred to a warehouse and used as collateral for the loan. The goods are inspected and certified by a collateral manager to ensure the borrower owns the inventory used to back the loan.

 

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