Agrotoken is the first Global Platform for tokenization of agricultural commodities. That is, we create stablecoins collateralized in grains and food. It is an ecosystem that digitizes the value of grains and allows farmers to save, invest and transact with their production.
Agrotoken's operation is very simple: if you are a Farmer, you only have to create your account on our platform to start tokenizing grains. Then, you can manage those tokens to invest, save or buy in a simple and quick manner.
Asset tokenization is the process of converting real assets into digital assets and thus converting the
proprietary rights of a particular asset into a digital token.
"Tokenize" means to make a physical or
non-digital asset digital. Just as tokens can account for money, they can also represent an agricultural
commodity (corn, wheat, soybeans, coffee, bananas, etc.).
At Agrotoken, when we tokenize, we create stablecoins. The first one we have created out of soybeans in Argentina and is called SOYA. In this case, 1 SOYA Token = 1 ton of soybeans.
There are many reasons: comfort, security, ease of transporting or transferring them, and liquidity. In this way, a physical asset, by being transformed into a digital asset, can expand its possibilities of monetization, for exchange for digital currencies or for common currency to acquire products and services (cars, supplies, etc.). In addition, it can be used as collateral for credit and loan services, among others.
In Argentina, the tokenization request process has 3 steps:
Once the documentation is verified, the amount of SOYA tokens corresponding to the tons of grain tokenized is deposited in the digital wallet of the farmer on the Agrotoken platform.
You can choose to keep your grains tokenized for 30, 60, 90 days or renew them until the maximum contract date.
SOYA is the first token of the global platform for tokenization of agricultural commodities
Agrotoken.io that is created out of the production of soybeans from Argentine farmers.
SOYA is a
stablecoin. That is why each token is backed by a real ton of soybeans and this is reflected in the Proof
of Grain Reserve, guaranteed by an Oracle. When the farmer tokenizes his production, he obtains SOYA
tokens that allow him to transact, invest or save. The conditions have been created so that SOYA can be
transferred to the crypto ecosystem and can be used in Exchanges, DEfi Apps, Marketplaces, and any other
application where it is accepted.
Minting: means to create or issue a token. In our case, we create SOYA with the tokenization
applications.
Burning - means to remove or redeem a token. When the date that the Farmer set to
detokenize arrives or when he makes the decision to detokenize in advance, the tokens are removed. The
PoGR is released and the convertibility of the tokens with the tons of soy is balanced.
The Oracle is responsible for safeguarding the PoGR (Proof of Grain Reserve). It can be an Exporter or Collector. You can see the Oracles alternatives when you make the request for tokenization.
The PoGR is the Proof of Grain Reserve that certifies that for each token generated on the platform there is a ton of grain backing it. It is transparent, secure, decentralized, and auditable at all times through the Ethereum blockchain (the system that manages it).
Our SOYA token is an ERC-20 token. This type of smart contracts has a standard design to create interoperability and compatibility between tokens and promotes improvements in the Ethereum ecosystem. There are many ERC-20 tokens created with different functionalities. You can check how many are currently on Etherscan.
A stablecoin (or “stable currency”) is a cryptocurrency created in order for its value to
remain stable. This type of cryptoasset allows to minimize the volatility of its price (unlike Bitcoin),
since it is backed by other financial assets, FIAT currencies, raw materials, and even other crypto
assets.
In the case of Agrotoken, we have the support of grains. A token generated on the platform
will always represent a ton of grains. In the case of SOYA, for example, 1 SOYA Token = 1 ton of soybean.
Blockchain means "chain of blocks" as it is being made up of blocks linked together and
encrypted. Once the block is registered there is no chance that someone can hack it, because to do so they
would have to hack all the linked blocks built later. This makes it decentralized, immutable, and much
more secure.
It is a technology that eliminates intermediaries in transactions and decentralizes
management. Thanks to this, it is the user who controls the process and not the banks or government
entities. This allows to eliminate costs and tedious time-consuming processes.
USD Coin is a stablecoin created by the crypto companies Circle and Coinbase. You can always exchange 1 USDC for USD1, which means that their price is stable. Each USDC is backed by one US dollar, kept in a bank account.
Its goal is to become a blockchain capable of running decentralized applications.
The
network's currency is called Ether (ETH), also called “the fuel of smart contracts”, which enables the
mining of data blocks on the blockchain.
It is responsible for technological innovations that seek to
transform the world as we know it.
Smart contracts aim to eliminate intermediaries to simplify processes that save costs for
the user.
To understand a smart contract, let's remember what a contract means. A contract is an
agreement between two or more parties which defines what can be done, how it can be done, what happens if
something is not done. In plain language, they are rules of the game that allow us to understand how the
interaction will be between the parties who agree to play.
Until now, contracts have been expensive
written documents, subject to territorial laws and jurisdictions that, for the most part, require the
intervention of lawyers and notaries. That is, more costs, time and third parties involved in the process.
Unfortunately, they are not accessible to anyone, although the worst thing is that contracts can be
subject to interpretation.
A smart contract is capable of self-executing and enforcing in itself,
autonomously and automatically, without intermediaries or mediators, which avoids verbal or written
interpretation because it is not written in the languages we speak, but rather they are written in
“scripts” (Computer codes) that are programming languages. This means that the terms of the contract are
statements and commands in the programmed code.
The parties of a smart contract can be individuals and
/ or legal entities, but also machines or programs that work autonomously. A smart contract is valid
without depending on authorities. This is due to its nature: it is a code visible to all and that cannot
be changed as it is blockchain-based technology. This gives it a decentralized, immutable, transparent and
secure character.
SOYA is an Ethereum token (ERC 20), so it can be stored in a wallet compatible with that
digital currency, such as Metamask, or in cold wallets, such as Trezor or Ledger.
To carry out the send
and receive operations, you must have the transfer function enabled. For security, this authorization will
be available by region and by type of Token.
At Agrotoken we work to democratize investments. Very soon you will also be able to buy, sell and transact with SOYA from anywhere in the world. Soon, we will tell you how and where. Share your email with us to keep you informed.
We know that many Argentine Farmers have their soybeans in silo bags. We are working with IOF, RUS, and other companies to provide you with a solution so that you can tokenize as well. Share your email with us to keep you informed.
The platform was launched in Argentina, but we are working so that, in a very short time, Farmerss from Brazil, Uruguay, Paraguay and the United States generate their own soybean token.
At the moment, only soybean can be tokenized. The Agrotoken team is working so that tokens can soon be created out of other crops.
You can sign up through the SIGN UP AS A FARMER button.
The account registration can be
made in the name of a natural or legal person. If it is a legal person, you will have to indicate who your
legal representative is and we will request information about this person.
In the Agrotoken.io platform! On the home page you will be able to start your tokenization application.
In the Farmer's account, in the My Applications section, you will be able to identify each
of the Applications and check the process status.
In the notification bell you will find messages with
communications, important information and instructions, in case we need you to take any action. In
addition, in the e-mail provided in the account sign up process, you will receive communications about how
your application is progressing.
You can view the SOYA tokens from the account overview on the home page. Remember that tokens account for the volume of tons of tokenized soybeans.
Yes, you can detokenize whenever you want. The tokenization process can take up to 24 business hours.
Detokenization can be automatic or anticipated.
It is automatic when the tokenization
term is met. In that case, we will notify you 48 business hours before the de-tokenization occurs
according to the term you have chosen. This does not require you to take any action. Automatically, on the
scheduled date, the termination of the assignment occurs, and the Oracle is notified. The tokens are
eliminated.
Early detokenization occurs when you want to detokenize before the agreed deadline. Once
you request early detokenization, the process is the same as in the previous case. This process can take
up to 48 business hours.
The offer letter is the assignment of temporary collection rights on the purchase contract entered on the platform for the period chosen in the tokenization application.
If you have any other questions about the platform.
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