TOKEN SPECIFICATIONS

FarmGrid Africa
4 min readAug 4, 2022

TOKEN NAME: FarmGrid

TOKEN SYMBOL: $GRID

BLOCKCHAIN: Bsc, Eth, Polygon

TOKEN TYPE : Utility

TOKEN SUPPLY: 100,000,000,000,000,000 GRID

Tokenomics:

  1. Token Utility:
    — The project’s native token will serve as the primary means of exchange within the farm ecosystem.

— Farmers following FarmGrid rules will be rewarded with $GRID tokens
— Token holders will have voting rights to participate in the decision-making process regarding farm operations, upgrades, and community initiatives.
— Token holders will receive incentives, such as discounts on farm produce, exclusive access to limited-edition products, or early access to new features and functionalities.
— The token will be staked or locked up to earn additional rewards, such as farming yield or governance tokens.

2. Farm Yield and Rewards:
— Users who stake or provide liquidity with the native token will earn farming rewards.
— The farming rewards will be distributed proportionally based on the amount of tokens staked or liquidity provided.
— The distribution of rewards will be designed to encourage long-term participation, with higher rewards for longer staking periods.
— The farming rewards can consist of additional native tokens or other digital assets, ensuring an attractive return for participants.

3. Buyback and Burn Mechanism:
— A portion of the project’s revenue or transaction fees will be allocated towards a buyback mechanism.
— The bought-back tokens will be permanently removed from circulation, reducing the token supply and potentially increasing its value.
— The burn mechanism can create scarcity and drive token price appreciation, benefiting existing token holders. It will be done by sending the token to a wormhole.

4. Community Governance:
— Token holders will have the power to propose and vote on changes to the farm project, including upgrades, new features, and strategic partnerships.
— A decentralized governance system will be implemented, allowing token holders to collectively make decisions through voting mechanisms.
— The governance process will be transparent and inclusive, ensuring that the community’s voice is heard and valued.

5. Token Distribution:
— A fair and equitable token distribution model will be established to avoid concentration of tokens in the hands of a few.
— The project can allocate tokens to early supporters, contributors, and participants in a way that rewards their involvement and encourages long-term engagement.
— A vesting schedule will be implemented to prevent token dumping and promote sustained commitment from key stakeholders.

6. Strategic Partnerships and Integrations:
— The farm project can collaborate with other platforms, applications, or projects in the agricultural or blockchain space.
— Integrating with complementary services, such as yield aggregators or decentralized exchanges, can enhance the usability and utility of the native token.
— Strategic partnerships can expand the project’s reach, attract new users, and foster ecosystem growth.

TOKEN DISTRIBUTION

  • Staking rewards - 26% of tokens will be allocated as staking rewards to investors.
  • Sales - 15% of tokens are allocated to our pre-seed, seed, strategic rounds, private, and public sales.
  • Incentives/Charity - 21% of tokens will be allocated to the FarmGrid Africa Foundation and charity in line with our aims and objectives to support farmers in rural areas, Educate farmers on the dangers of antibiotics, provide basic computer knowledge and programming for children in rural Africa, poverty and hunger alleviation, and Provision of clean water for drinking and irrigation.
  • Development and community growth - 10% of tokens will be allocated towards development efforts including community partnerships and loyalty programs to offer opportunities for enhanced benefits for existing customers. There may be a vesting period tied to the release of the tokens which will be flexibly introduced.
  • Ecosystem - 8% of tokens will be allocated to finance the Farm Grid general Ecosystem.
  • Team - 5% of tokens are allocated to the team. These tokens are fully locked for 3 years, and thereafter receive quarterly disbursements of 5%.
  • Exchanges / Listing — 5%
  • Marketing - 3.3% of tokens are allocated to marketing and promotional campaigns to bring users' adoption and awareness of Farm Grid products.
  • Advisory, SHO, and Mentorship adviser: 3% of the tokens are allocated to advisors and mentors of Farm Grid Africa. This token allocation has a vesting period of 2 years and 20% is released every quarter.

The sales are represented as thus;

  • Pre-seed: 8% of the tokens are allocated to the pressed sales which are vested and released periodically. 20% will be released 6 months after the Token generation event (TGE), then 20% will be released quarterly thereafter.
  • Seed: 8% of the tokens are allocated to the seed phase of the sales which are also vested and released periodically. 20% will be released 3 months after the token generation event and 20% will be released quarterly thereafter.
  • Strategic round: 5% is allocated to this phase of sales with 20% released at TGE and 18.75% released quartet thereafter.
  • Private sale: 1.5% is allocated to private sale with 25% released at TGE and 18.75% released on a quarterly basis.
  • Public sale: 1.2% of the token is allocated to Farm Grid Token ($GRID) with 100% on the Token Generation event.

NOTE!

Users are rewarded and receive fee discounts through certain activities within the ecosystem.

Users who stake farm tokens will incur APY rewards denominated in $GRID.

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FarmGrid Africa

Farm Grid is an organization of Agro-Tech experts that promote one health by assisting Farmers achieve their goal of healthy and safe food and livestock.