Many farmers transitioning to regenerative agriculture in India face limited access to finance and markets and often do not get a fair price for the products they sell.
We propose to build a smart contract governed platform that enables smallholder farmers and landowners to have access to finance and information for transitioning to regenerative agriculture.
This is the total amount allocated to Open sourced Farm land verification, evaluation, tokenization - fractional NFT framework to support transitioning to regenerative agriculture.
Vineet Tiwari
Junada Sullilari
No dependencies
Except for the frontend build and UI designs, everything else will be open source. we expect every project to have their unique interface for their clients
No poverty (SDG 1) - Investment in smallholder farmers can help reduce poverty, as many of these farmers live in poverty and rely on agriculture as their primary source of income. Providing access to finance, training, resources, and marketplace investment can help smallholder farmers improve their productivity and incomes, contributing to achieving SDG 1, which aims to end poverty in all its forms everywhere.
Zero Hunger (SDG 2) - Smallholder farmers play a critical role in ending hunger, achieving food security, and promoting sustainable agriculture. Yenna Tech is dedicated to helping smallholder farmers improve their access to markets, inputs, and technology, which can increase their productivity and improve their food security.
Gender Equality (SDG 5) - Women represent more than 37 percent of the world’s rural agricultural workforce, especially in small-scale livestock management and fisheries while these numbers increase in low-income countries even more than in any part of the world. Women make up a significant proportion of smallholder farmers and supporting their education, training, and access to resources can help reduce gender disparities and promote gender equality.
Decent Work and Economic Growth (SDG 8) - We aim to promote sustained, inclusive, and sustainable economic growth, full and productive employment, and decent work for all, can be achieved through investing in smallholder farmers by creating new job opportunities, improving livelihoods, and promoting economic growth in rural areas.
Reduced Inequalities (SDG 10) - Smallholder farmers frequently face discrimination based on factors such as gender, ethnicity, and caste and inequalities in access to resources such as land, water, inputs, and finance, which can limit their productivity and incomes. They are often located in rural areas, which can be disadvantaged in terms of infrastructure, services, and economic opportunities compared to urban areas. By providing support and resources to smallholder farmers, such as training, technology, and access to finance, these farmers can improve their productivity and incomes, reducing inequalities in access to resources.
Responsible consumption and production (SDG 12) - Smallholder farmers often use traditional and sustainable farming practices, such as agroforestry and organic farming, which can help to promote sustainable consumption and production patterns. Supporting smallholder farmers can help to promote local and regional food systems, reducing the carbon footprint associated with long-distance transport, storage of food, and food waste and loss.
Climate action (SDG 13) - To address climate change, we recognize the critical role that smallholder farmers play in reducing its effects. These farmers are particularly vulnerable to changes in temperature and rainfall, which can harm their crops and livelihoods, leading to poverty and hunger. Some crops, such as coffee, maize, wheat, rice, cocoa, potato, soybean, and certain grape varieties, are at risk of extinction due to a 1-2 degree Celsius increase in temperature.
Yenna Tech supports the revitalization of barren lands through industrial wood reforestation, which promotes carbon dioxide absorption and improves the environment while providing a livelihood for smallholder farmers. By investing in smallholder farmers and promoting sustainable agriculture practices, Yenna Tech helps to address climate change and support the achievement of SDG 13
Partnerships for the Goals (SDG 17) - Supporting smallholder farmers can contribute to achieving SDG 17 through partnerships and collaborations among various stakeholders that can refer to smallholder or individual farmers from their portfolio. This allows stakeholders to contribute to the achievement of SDG 17 and others and reap the benefits of doing so. Such a partnership or a collaboration with any existing stakeholder will result in faster processing
Small farms are defined by their area being less than two hectares and comprise 84 percent of all farms. They produce 35 percent of the global food on 12 percent of all agricultural land . It is important not to confuse small farms with family farms as family-owned farms can be small farms and vice versa. Moreover, there are more than 608 million family farms and they run 80 percent of the world's farmland.
Yenna Tech offers a sustainable and innovative solution to the challenges faced by smallholder farmers and landowners. By renting land from landowners, collaborating with farmers, and subletting it to them, Yenna Tech enables farmers to increase their yield by providing micro-financing for rental, inputs, and harvesting costs.
We believe in a regenerative agricultural model, which not only improves the economic viability of smallholder farmers but also protects the environment. Our platform connects smallholder farmers with investors who can invest in regenerative agriculture projects. Investors can buy Farm Tokens representing a share of the profit from the sale of the crop produced by the farmers. This way, investors can support regenerative agriculture and earn a return on their investment. In addition to our core services, we also offer a white-label service of our platform to third parties via our non-profit DAO which controls the treasury, allowing other organisations to take advantage of our technology and expertise.
Our solution involves building a technology solution that enables farmers and landowners to become independent for their financially needs and access to accurate information on chain
Farmers, land owners, cardano ecosystem will benefit from this
It should be important to cardano because we are bringing verified real world assets to the ecosystem
We project at least 100 acres will be listed on the Cardano blockchain, representing 10 million USD in real-world assets, liquidating 35% of which in ADA.
Our standards for digitising real world farm assets will primarily benefit the Cardano ecosystem by providing a real-world demonstration, starting with six acres of land under YennaTech’s management. We also have letters of intent covering more than 100 acres of land in the village Laharri, Kangra Himachal Pradesh.This accumulates to over 10 million USD worth of real-world farm assets to be listed on Cardano’s blockchain. Currently, 800 acres are under different stages of negotiation. The rate of expansion is subject to funding.
Each farmer organisation listed every quarter will be more focused on the quality of the listing than the quantity of listing which will include the number of farmer in each organisation, excess land under management ranging between 8-10 million USD worth assets under management. Each village population is ranging between 150-200 individuals with an average of 40 families per village, thus the documentation process of verification, evaluation and other necessary documentation like formation of farmer organisation if non existent and rental agreements will take about 60-90 days for a successful onboarding
Two two major benefits to the cardano ecosystem are
1) Farm land tokenisation & microfinancing tools
2) Early Clients of Yenna Tech gets listed on the Cardano ecosystem
3)projects like Nutravest, Protectyl & Agrivitus who have existing partnership with yenna Tech would choose to list their clients on the cardano blockchain
In the short term, cardano ecosystem is looking at a 10Mn worth of assets every quarter for the first year, about 30% of the asset value would be liquidated for micro financing on an average, alongside sale and purchase of crops would happen on the chain.
In the long term we could be looking at 10x growth for the ecosystem in the next 3 years
Weekly Updates: Team holds open weekly meetings where we share progress and developments, we would upload every alternate meeting on youtube and twitter for the community to have deeper insights of the work being accomplished and opportunities for projects and community members to participate in.
Opensource repository: all the smart contract templates for fractional land nfts and marketplace tokens, inclusive of the backend will be made open source
Client Onboarding/testing: Once the technology development is completed we will demonstrate an example of how to make use of the technology in a real time scenarios with our existing clients
We expect to use the generated results to scale within the region alongside build for features of secondary trading and derivatives that can evolve with the data sets and add it to our development pipeline for the next half of the year
We are a resilient team with a set of purpose driven individuals creating a social capital that has sustained the project since its inception in September of 2020. Our board members have participated with the smarthubs team in growing the Indian Cardano developer ecosystem and will play a key role in bringing skilled devs for the ecosystem.
We maintain our weekly progress and reporting on Dework and Discord with open meetings which makes it transparent and allows the community to participate and voice on current developments and progress shared on twitter.
Our strategy involves milestone based monthly payment to each individual involved in the process of development after submission of the tasks undertaken, thus ensuring the success of the project.
We will maintain a open wallet address for fund management which will be handled by our CFO, Junada Sullilari on a biweekly basis after the board assesses the Milestone report, tested git commits submitted by developers and shares with the wider community.
Objective of the project is to build & test our validated process of a smart contract governed marketplace that allows our existing clients to be listed on the cardano chain that yenna tech has already financed and further onboard the other farmers who have signed the letter of Intent with us.
Goal of the project to allow small holder farmers to cater more than 35% of the global food supply by optimising and scaling their operations by renting, democratising digitisation tools to create a decentralised financing, distribution and sale of the crop on chain
Objectives:
1) Smart contract for a new NFT standard of microfinancing for real world farm asset
2)building backend and integrating the SC and front end UI to create a marketplace that caters small holder farmers and retail investors
3) KYC
4) Invest & claim function
5) Membership module for DAO to track support & promote third party implementation ( please check yenna foundation application in the DAO’s category for more information)
Goals:
1) creating Farmer organisations for farmers within small villages
2) Renting & on chain onboarding for excess lands withing small holder farmers & land owners
3) raising funds from the community & promoting regenerative practices on ground
4)creating a favorable market access & fair pricing for the crops
5) sharing returns with investors
The first 6 months of the project is to build and test the marketplace with existing farmers, where as the next 6 months would involve onboarding of individual farmers to the farmer organisations and adding more land parcels to the rental agreement and updating the smart contract for more land parcels being listed in each farmer producer organisation.
We are looking at 4 farmers in the early 6 months to be catered and then scaling it to 80 farmers in next 6 months, on an average of 10mn worth asset listed in Q3 & Q4
Each milestone would include working parallely on a dapp & a web app
Milestone 1: KYC, profile & SIgn up, login interface
(Duration: 12 working days 8 hours each
Milestone 2: Smart contact driven NFT & create listing with testing on testnet
(Duration: 15 working days 8 hours each)
Milestone 3:Wallet Integrations & transaction testing
(Duration: 18 working days 8 hours each)
Milestone 4: Invest and claim returns for validity smart contracts
(Duration: 15 working days 8 hours each )
Milestone 5: UI integrations for the User & Admin dashboards (light & dark theme)
(Duration: 18 working days 8 hours each)
Milestone 6: Onboarding clients on testnet and building technical documentation
(Duration: 10 working days 8 hours each)
Milestone 7: bringing existing clients(farmer organisation) to the cardano ecosystem to raise funds for their farm lands with revisions & interface upgrades
Duration : (3 months from milestone 1)
Milestone 8: Building NFt module for farmer & buyer interaction and sale/purchase of crops on chain( crops will be a different nft than land nfts) assuring on chain returns
Duration: 14 working days 8 hours each
Milestone 9: implementation secondary trading/sell feature for land nfts and seeking 2nd farm producer organisation for listing
Duration: 15 working days 8 hours each
Milestone 10: Building rewards & Membership features for increasing participation
Duration: 7 working days 8 hours each
Milestone 11: technical documentation + sprints on technical backlogs
Duration: 7 working days 8 hours each
Milestone 12: UI revisions and feasibility
Duration: 5 working days 8 hours each
A total of 6 months
Milestone 1: KYC, profile & Sign up, login interface
Milestone 2: Smart contract-driven NFT & create listing with testing on testnet
Milestone 3: Wallet Integrations & transaction testing
Milestone 4: Invest and claim returns for validity smart contracts
Milestone 5: UI integrations for the User & Admin dashboards (light & dark theme)
Milestone 6: Onboarding clients on testnet and building technical documentation
Milestone 7: Bringing existing clients (farmer organization) to the Cardano ecosystem to raise funds for their farm lands with revisions & interface upgrades
Milestone 8: Building NFT module for farmer & buyer interaction and sale/purchase of crops on-chain (crops will be a different NFT than land NFTs) assuring on-chain returns
Milestone 9: Implementation of secondary trading/sell feature for land NFTs and seeking a second farm producer organization for listing
Milestone 10: Building rewards & membership features for increasing participation
Milestone 11: Technical documentation + sprints on technical backlogs
Milestone 12: UI revisions and feasibility
Project manager : 2000Ada/ month * 6 = 12000 ADA
Lead blockchain & back end dev : 4000Ada/ month *6 = 24000ADA
Front end dev for web and Dapp: 2000Ada/month * 6 =12000 ADA
Smart contract audit: 24000 ADA( CERTIK)
Total: 72000 ADA
The project development cost is 3x cheaper in India compared to the development costs in EU & USA this allows team to cover larger development milestones within the requested amunt of funds, while cardano ecosystem supports the development, Team Yenna will cover all legal and onboarding costs for clients. The project is bootstrapped with the support of founding team members
Cost of the resources are extremely negligible compared to market prices, mainly because each individual mentioned here is a stake holder of yenna tech and purposefully driven towards supporting the cause , where cardamon ecosystem gets to onboard a project is past their on field research and have clients on board
Project manager: Prateek Bijjam & Junada Sullilari
Linkedin Links: https://www.linkedin.com/in/prateek-p-03857a4a/
Experience: Prateek has worked with Smarthubs team in building cardano ecosystem and worked with 5 accelerator programs in building the project along with his team members , he also has over 6 years of experience in working in MNCs like Wipro, Gecapital, Amazon global, WNS, and Entitledarts
https://www.linkedin.com/in/junada-sulillari-b656041b4/
Junada has a background on finance and accounting. She has over 8 years of experience as an academic, finance manager and accountant. She is an assistant lecturer in finance and accounting, a Ph.D student in finance, part of MassChallenge accelerator as a judge and mentor and part of the core team and an advisor in two other start-ups.
Lead Developer: Vineet Tiwari
Linkedin links : https://www.linkedin.com/in/vineet-tiwari-ab1456163
Experience: Vineet is an experienced blockchain profession with over 4 years of industry experience and has deployed several projects to main net.
Front end dev: Visishta Chatla
Linkedin link: N/A
experience: she is an upcoming front end developer with 2 years of experience in web app development and 1.5 years of experience in mobile app development