Turning real commodities into blockchain tokens Profitable trading strategies Emerging Commodity Trader Programme & prizes
Agricultural commodity tokenization
We will enable the tokenization of supply chain assets such as commodity warehouse receipts. For farmers this will ensure wider access to market, allowing them to achieve higher prices for their produce. Farmers could also put up their tokens as collateral to get short term loans for their living expenses while waiting for higher prices to sell. Token trading will eliminate the needs for developing countries to set up expensive centralised commodity exchanges. Leveraging blockchain technology, we will enable banks to get accurate and timely data on assets, liabilities and trading history, allowing them to provide competitive financing packages to Binkabi network members.
Emerging Trader Programme
We are looking for crypto and commodities enthusiasts to join our Emerging Trader Programme. You will be among the first in the world to participate in tokenizing commodities and trading of commodity-backed tokens.
We are running a pilot in Nigeria of the Binkabi Commodity Tokenization Protocol involving real users, real commodities and real monies. This is in connection with the eventual set up of a commodities exchange focusing first on agricultural commodities.
As part of this excercise Binkabi will tokenize grains like maize, paddy rice and soybean and have them traded on our decentralised exchange. The commodity-backed tokens will then be redeemed for commodities from accredited warehouses.
This is nothing short of a revolution as countries in Africa have tried and failed to set up these commodities exchanges. From a crypto investment universe's point of view these commodity-backed tokens will be an ideal inclusion in crypto portfolios. This is because they are backed by some of the world's most traded resources and are less correlated to movements in the crypto space.
The pilot will also seek to confirm the unique role of BKBi, our token, in creating liquidity that underpins the success of commodities market places.
Bounties and fantastic prizes await. To join please register below.
Depositor brings grains to Accredited Warehouse
Warehouse weighs, grades and packs grains
Warehouse receipts (commodity -backed tokens) are issued to Depositor
Trade on Blockchain
Sellers and Buyers post orders on BinkabiDEX
Exchange matches orders
Atomic swap of commodity-backed tokens for payment tokens. Settlement through bank system is also possible.
Holder sends Redemption Request to Warehouse
Accredited Warehouse redeems commodities
Warehouse receipts cease to exist ( commodity-backed tokens burnt)