Announcing the launch of InventoryClub 2.0
Over the past 2 years we have been exploring the best market for InventoryClub to operate within. Initially we were looking at the Commonwealth but after much research we decided to focus our efforts on Africa.
Why Africa?
Sub-Saharan Africa has an estimated 100 million small holder farmers employing 60–70% of the population. Africa also holds approximately 60% of the world’s arable land, has the world’s youngest population and the largest free trade area in the world through the African Continental Free Trade Area (AfCTA) with trade commencing as of 1 January 2021. In spite of these key facts there are still high levels of food insecurity across the African continent with many countries falling short of food production by up to 50%. Africa imports an estimated $43 billion worth of food every year. Food insecurity is something that poses a real threat to the entire world and we believe that Africa holds the key to stabilising food security for both her as a continent and for the rest of the world. The African agribusiness trade finance deficit of approx $19 billion per year is a drop in the ocean in comparison to the entire crypto market cap. However, it’s not an issue that many have decided to tackle but it is something that InventoryClub has committed itself to resolving. A strong African agribusiness value chain benefits the world and safeguards the generations to come.
From Stellar Blockchain to Ethereum Blockchain
As part of our restructuring we decided to move from Stellar to Ethereum because the Ethereum ecosystem has a much larger community and is currently the no.2 blockchain in the world. We needed to ensure we were building on a protocol that gives us the ability to scale InventoryClub to meet the demand of the African agribusiness value chain. InventoryClub is an alternative finance platform with elements DeFi etched into our DNA so to us it was a no brainer to move to the blockchain with the largest DeFi economy.
Decentralised Cooperatives
We explored several models before deciding to run with a decentralised co-operative. When the solution finally hit us it was a no-brainer; the agribusiness sector has always operated with co-operatives making it easier for stakeholders to pull their resources together to conduct a variety of activities. Members are rewarded based on their contributions and benefit from the network effects of the co-operative such as lower buyer prices of inputs and greater access to markets. InventoryClub will be opening 6 co-operatives for its members, these are the Input Co-op, Off Taker Co-op, Women Agribusiness Co-op, Renewable Energy & Infrastructure Co-op, AgTech Co-op and Hemp & Cannabis Co-op.
Members are able to join any number of these co-operatives using their VNT tokens, funds and resources are deployed through our partners to the benefactors to carry out their agribusiness activities. At the end of each year members are able to vote how they would like the returns to be split. They can choose 50/50 split between working capital for the co-operative and member returns or 25/75 split between working capital for the co-operative and member returns or 75/25 split between working capital for the co-operative and member returns. Each member gets one vote and our smart contracts execute when specific criteria are met.
InventoryClub 2.0 Launch
Over the past year we have been working tirelessly to build out a new version of InventoryClub. We completely re-engineered the platform from the ground up implementing the lessons learned from our previous builds. We focused on keeping it simple, lightweight and inclusive. We are pleased to announce we will be going live June 30th 2021.
VNT Allocations
Public Tokens (40%)
To participate in the InventoryClub ecosystem members must have VNT. Holders are able to access our Co-operatives, P2P Inventory Finance Marketplace, the InventoryVault Blockchain and Agribusiness Intelligence.
Treasury (13%)
Our Treasury can be used to provide collateral and access liquidity pools for co-operatives.
Incentives & Rewards (17%)
Validators of the InventoryVault blockchain receive rewards for running nodes and validating transactions. Tokens will also form part of our affiliate marketing and referral programs.
Team (15%)
Team tokens will be locked for 18 months from the date the new platform goes live. Tokens allocated to team members will vest over a 5 year period with a certain allocation being released every year of full service.
Research & Development (5%)
We decided to allocate tokens to R&D to enable us to continue working on building out our technology stack and innovating agribusiness activities.
Advisors (5%)
We will recruit advisors that can contribute real value to our ecosystem especially for our co-operative verticals. Tokens allocated to advisors will vest over a 4 year period with a certain allocation being released every year of full service.
Reserves (4%)
We set aside reserves to enable us to meet any unexpected demand on the project.
Bounties (1%)
To enable us to grow our network, we allocated a small percentage to reward members for promoting the mission of InventoryClub.
