Touchpoint Welcomes Yenna Tech
Economic Independence for Farmers through Tokenized Agriculture
DLTs have successfully passed their maturity test in recent years, and are advancing into the age of digitizing everything – even farming! We're thrilled to welcome Yenna Tech, a project that has taken on the task of modernizing an age-old industry using new technologies to help its stakeholders – farmers around the world – to become more independent. Welcome, Yenna Tech!
Yenna Tech introduces itself
We, the team behind Yenna Tech, all grew up in families that were close to the agriculture business, and so we know the challenges of traditional farming first hand, especially raising capital. In India, for example, farmers can only raise capital to support their crops by mortgaging their land. They also don’t have regulated markets to sell their produce. The idea behind Yenna Tech was born out of a simple desire to give agricultural businesses easier access to funding. With the advent of distributed ledger technology (DLT), we finally have the tools to take agriculture into a new era.
Through Shimmer, we'll launch a digital marketplace where farms can receive capital in the form of loans. Also, investors can receive returns based on the farm's underlying land and its return rate of revenue, which can be calculated by an asset evaluation of the inventory, accessories, or cash flow to estimate future valuation.
The properties of farm owners will be tokenized and offered for trading on our marketplace. This form of tokenization also allows investors with little capital to participate in the success of the farm with fractional land tokens. We're currently waiting for IOTA's tokenization framework to be able to realize the launch of our Yenna token on the most efficient and cost-effective DLT network.
We've set aside 11% of our token allocation to allow underprivileged members of our community to participate in our marketplace. This ensures that those who would benefit the most from our technology aren’t excluded from participation due to a lack of resources.
Yenna Tech has been there since the beginning of the Corona pandemic in 2020 and it was all born out of the idea of giving farmers more self-determination over their business. Assembly's architecture will allow us to implement cost-effective smart contracts and, thanks to the recently-introduced tokenization capabilities on the IOTA network, we will be able to offer fractional trading without fees.
To find out more about Yenna Tech, follow the project on Twitter or dive deeper into its website.
Shimmer is an L1 innovation network providing the core building blocks for a scalable, modular multi-chain architecture. Similar to the IOTA network, Shimmer is built on a UTXO-based parallelized, directed acyclic graph (DAG), guaranteeing higher scalability than conventional Blockchains. At the same time, Shimmer ensures interoperability and composability of L2 smart contract chains, capable of connecting any type of L2 smart contract chain anchored to it. With its unique tokenization framework, Shimmer will become a multi-asset ledger for feeless minting and transfer of native assets without middlemen or crippling gas fees.
The native token of Shimmer is SMR, which serves as the network’s economic backbone, facilitating value transactions and interactions within the Shimmer ecosystem. Shimmer users use the SMR token to launch new DeFi applications, DEXs, NFTs, DAOs, and other dApps.
Yenna Tech joins the Touchpoint Open Builders Program, offering participants a community of like-minded builders, direct access to experts, knowledge, and general support to launch and scale the next generation of decentralized applications and infrastructure on the Shimmer networks. You can learn more about how Touchpoint works and how to become a part of it here.
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