Real World Farm Assets Tokenization Launchpad by Yenna Tech

[GENERAL] Name and surname of main applicant

Prateek Bijjam

[GENERAL] Are you delivering this project as an individual or as an entity (whether formally incorporated or not)

Entity (Incorporated)

[GENERAL] Please specify how many months you expect your project to last (from 2-12 months)

6

[GENERAL] Please indicate if your proposal has been auto-translated into English from another language

No

[GENERAL] Summarize your solution to the problem (200-character limit including spaces)

We help farmers with access to decentralized finance for scale farming activities on unutilized lands with the help of a tokenization marketplace for Real World Farm Assets

[GENERAL] Does your project have any dependencies on other organizations, technical or otherwise?

No

[GENERAL] If YES, please describe what the dependency is and why you believe it is essential for your project’s delivery. If NO, please write “No dependencies.”

N/A

[GENERAL] Will your project’s output/s be fully open source?

No

[GENERAL] Please provide here more information on the open source status of your project outputs

N/A

[SOLUTION] Please describe your proposed solution

Our Defi Marketplace consists of

1) Identifying small holder farmers and landowners who have unutilized or under utilized portions of their land..

2) Leasing these excess land holdings from the owners, providing them a steady stream of rental income.

3) Bridging the necessary capital to invest in their operations and improve their productivity

This results in increased crop yields and improved market access.

The reason we are approaching it in this fashion is because farmers are primarily concerned with increasing their production and lacks the ability to navigate through the financial landscape and is thus afraid to take chances. Our proposed ecosystem will enable them to increase their production at first and then focusing on crop diversity to increase their returns

Our ecosystem comprises two types of tokens:

1) RWA Farm Tokens

• These are unique digital assets representing ownership in farm cooperatives or private entities.
• Backed by real-world farm assets, offering legal protections and ensuring transparency and security in agricultural investments.
• Each token is pegged 1:1 to the physical area( per meter square) of the farm assets, maintaining a fixed intrinsic value.

  2) Yenna Token

• $Yenna serves as a separate liquidity token used for governance and utility within the ecosystem.
• When exchanging $Yenna for $RWA FARM tokens, the conversion process involves permanently removing $Yenna from circulation.
• $Yenna token has multiple purposes, including voting rights, investment opportunities, and sharing ROI with investors.
• It provides liquidity for genuine farmers and generates profitable returns for Farm token holders through the minting process.

This dual-token system allows for governance, utility, and investment opportunities within the ecosystem while maintaining the intrinsic value of the RWA Farm tokens backed by real-world asset to be listed on the Cardano blockchain 

[IMPACT] Please define the positive impact your project will have on the wider Cardano community

Our Solution brings real world farm assets to Cardano blockchain projecting a minimum of 500 hectare of farm assets to be listed in the first year. Estimating a inflow of $5000/ hectare to support the farmers and projecting an average of 2x returns for Cadano community

We will measure the impact by recording

1)The increase in daily income for farmers 

2)Amount of production increased in tons

3)Size of land put to good use

4)ROI shared with Cardano community

We will share the results and opportunities with the community via our socials and via emails to the subscribed users.

We have secured an MOU with the local agriculture university IHBT, Palampur, to bring training and education for farmers and financial support in the form of subsidies to set up production facilities for farmers at a later stage. Our understanding also allows support for implementation of new blockchain based technological applications to support the local farm communities.

We have also been selected by the CI ventures for an incubation program & soft landing in Canada with a funding promise of 280K CAD, to build a similar venture for the North American Market.

Initiation Date : 1st May 2024

Duration 6 months

We are moving to the Cardano ecosystem to bring support for farm assets from these jurisdictions

[CAPABILITY & FEASIBILITY] What is your capability to deliver your project with high levels of trust and accountability? How do you intend to validate if your approach is feasible?

• Capability: Our team consists of industry experts with knowledge in building a smart contract governed marketplace, finance and agriculture, allowing us to seamlessly carry out all operations.
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• Tracking Progress: We will closely monitor and evaluate the project's progress using clear metrics and indicators. This allows us to hold ourselves accountable for achieving the desired outcomes.
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• Transparent Communication: We prioritise open and honest communication with all stakeholders. We will provide regular updates, share project plans, and report on outcomes, ensuring that everyone is well-informed and actively involved.

[PROJECT MILESTONES] What are the key milestones you need to achieve in order to complete your project successfully?

Milestone 1* Required

KYC, profile & SIgn up, login interface,Smart contact driven 

Milestone output(s)

A DApp and a web app with a user interface for KYC (Know Your Customer), profile creation, sign up, and login functionalities, Integration of smart contract functionality into the DApp and web app, enabling the creation and management of non-fungible tokens (NFTs). Implementation of a listing feature for RWA NFTs with testing on a test-net environment.

Users will be able to create profiles, complete KYC processes, and securely sign up and log in to the platform, create and manage NFTs on the platform, and test the listing functionality on a test-net

Acceptance criteria

Provide the infrastructure for NFT creation and listing, allowing users to tokenize assets and explore the capabilities of the platform.

Milestone 2:* Required

Wallet Integrations & transaction testing, Invest and claim returns for validity of smart contracts 

Milestone output(s)

• Users will be able to connect their wallets to the platform, perform transactions (such as buying or selling NFTs), and test the transactional capabilities. Users will have the ability to invest in smart contracts and claim returns based on contract validity

Acceptance criteria 

•  Enable users to securely interact with their wallets within the platform, facilitating seamless and secure transactions. Provide a mechanism for users to invest in smart contracts and receive returns, fostering participation and engagement on the platform

Milestone 3:

UI integration for the User & Admin dashboards (light & dark theme), Onboarding clients on test-net and building technical documentation

Milestone output(s)

• User and Admin dashboards with intuitive and visually appealing interfaces, offering both light and dark themed options. Clients will successfully get onboard on the test-net, gaining familiarity with the platform. Technical documentation is available for reference and guidance

Acceptance criteria 

• User and Admin dashboards with intuitive and visually appealing interfaces, offering both light and dark themed options. Clients will successfully get onboard on the test-net, gaining familiarity with the platform. Technical documentation is available for reference and guidance

Milestone 4:

Bringing existing clients (farmer organisation) to the blockchain ecosystem to raise

funds for their farm lands with revisions & interface upgrades, 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 output(s)

• Farmer organisation successfully integrated into the Cardano ecosystem, with revised and upgraded interfaces. Fundraising mechanisms are established for their farm lands. NFT module allows farmers and buyers to interact and trade crops on-chain. On chain sale/purchase functionalities for crops, ensuring returns for participants

Acceptance criteria 

• Provide a real-world use case for the platform, enabling a farmer organisation to raise funds for their farm lands within the blockchain ecosystem. Facilitate direct interaction between farmers and buyers, enabling secure and transparent on-chain transactions for crop sales/purchases. 

Milestone 5

Implementation of secondary trading/sell feature for land NFTs and seeking a second farm producer organization for listing, Building rewards & membership features for

increasing participation 

Milestone output(s)

Secondary trading/selling feature for land NFTs implemented. The second farm

producer organisation successfully listed on the platform. Rewards and membership

features are implemented, providing incentives and recognition for active participants. 

Acceptance criteria : Expand the platform's offerings by enabling the trading and selling

of land NFTs, and onboard another farm producer organisation for increased diversity

and participation. Foster increased engagement and participation on the platform

through the introduction of rewards and membership incentives

Final Milestone:* 

Required 

Technical documentation + sprints on technical backlogs, UI revisions and

feasibility 

Milestone output(s)

Complete technical documentation covering all relevant aspects of the

platform. Technical backlogs and issues are addressed through sprints. User interface

revisions are implemented, incorporating user feedback. Feasibility assessments were

conducted, ensuring the platform's viability and scalability

Acceptance criteria 

Provide clear and detailed technical documentation for users and developers, ensuring a smooth and well-documented platform. Resolve any outstanding technical issues through focused sprints. Refine the user interface based on user input, maximizing user satisfaction. Verify the feasibility and scalability of the platform to support future growth and expansion.

[RESOURCES] Who is in the project team and what are their roles?

Prateek Bijjam

Tittle: Director & CEO

Role: Client onboarding & relationship management

LinkedIn link: https://www.linkedin.com/in/prateek-p-03857a4a/

Experience : Prateek has worked with the Smarthubs team and several accelerator programs to develop the project. In addition, he possesses over 6 years of experience working with renowned MNCs such as Wipro, Gecapital, Amazon Global, WNS, and Entitled Arts.

Arvind Prasad

Title: Co-founder

Role: Design, multimedia , Front end development

LinkedIn link: https://www.linkedin.com/in/arvindprasadbijjam/

Experience: Arvind boasts 14 years of experience in multimedia support, design strategy, and

front-end development. Throughout his career, he has provided assistance to over 1500 clients

and has proven expertise in these fields.

Alexander (Sasha Wiese):

Title: Financial Advisor

Role: Advisor

LinkedIn: https://www.linkedin.com/in/alexanderwiese/

Experience: As a Senior Structuring Advisor at UN-REDD Programme, he supports the design

and implementation of innovative financial solutions that enable nature-based solutions and

climate action. With more than 15 years of experience in sales and structuring of financial

products, he has a strong track record of delivering high-impact results for clients and partners across sectors and regions.

He is also an SDG Finance Expert at Asian Development Bank, where he provides technical

knowledge and guidance on how to use the SDGs as a framework for structuring financial

instruments that address the most pressing development challenges in Asia. Additionally, he is

a Senior Advisor at Timber Finance Initiative, leading the timber construction efforts in the

DACH region and advising cities and local communities in Switzerland on sustainable timber

finance. He is passionate about advancing the transition to a low-carbon, nature-positive, and

inclusive economy through sustainable finance. He holds multiple certifications in responsible

investment analysis, sustainable infrastructure finance, and PRI Academy, and has contributed

to several publications and webinars on biodiversity, food, and agricultural finance.

Junada Sulilari

Title: CFO

Role: Weekly reporting, Final project report 

LinkedIn link: https://www.linkedin.com/in/junada-sulillari-b656041b4/

Experience: Junada has a strong background in finance and accounting, with over 8 years of

experience as an academic, finance manager, and accountant. She serves as an assistant lecturer

in finance and accounting, pursuing her Ph.D. in finance. Junada also contributes her expertise

as a judge and mentor in notable organizations such as MassChallenge, Village Capital,

HabiSmart, Alchemist Accelerator, and advises two other start-ups as part of their core team. 

[BUDGET & COSTS] Please provide a cost breakdown of the proposed work and resources

Milestone 1 KYC, profile & SIgn up, login interface,Smart contact driven

Duration: 27 working days 8 hours each

Budget: ₳ 21,906

Milestone 2: Wallet Integrations & transaction testing, Invest and claim

Duration : 33 working days 8 hours each

Budget: ₳ 21,906

Milestone 3: UI integrations for the User & Admin dashboards (light & dar

Duration: 28 working days 8 hours each

Budget: ₳ 21,906

Milestone 4: Bringing existing clients (farmer organization) to the Cardano ecosystem

Duration: 14 working days 8 hours each

Budget : ₳ 10,880

Milestone 5: Implementation of secondary trading / sell feature for land NF

Duration 21 working days 8 hours each

Budget: ₳ 10,880

Milestone 6: Technical documentation + sprints on technical backlogs, UI

Duration: 12 working days 8 hours each

Budget: ₳ 10,880

[VALUE FOR MONEY] How does the cost of the project represent value for money for the Cardano ecosystem?

The following factors substantiate the project's value for money:

1. Scope and Complexity: The project involves the development of a comprehensive launchpad, encompassing smart contract development, user interface design, security audits, and more
2. Industry Standards: The costs are in line with industry standards for blockchain and cryptocurrency development
3. Ecosystem Impact: The project aims to contribute significantly to the Cardano ecosystem by providing a secure and efficient launchpad
4. Market Research: The costs have been determined through thorough market research, taking into account the average wage for skilled professionals in the relevant fields, prevailing freelance rates, and the level of expertise required for each aspect of the project
5. Transparency: The ADA allocation for each milestone provides transparency and accountability, allowing the community to understand how the funds will be utilized at each stage of the project

In summary, the project's value for money is rooted in its potential to enhance the Cardano ecosystem, the comprehensive nature of its development, adherence to industry standards, meticulous market research, and the transparent breakdown of costs for each milestone.