Farmchain Finance Cooperatives

A cooperative is "an autonomous association of persons united voluntarily to meet their common economic, social, and cultural needs and aspirations through a jointly-owned enterprise". Cooperative is different from Corporate organizations or institutions with selected owners or managers because cooperatives are democratically owned by their members, with each member having one vote in electing the board of directors, depending on the structure of the Cooporative at the time of formation.

The main essence of Cooperative is to engage in any Worthy course of common interest for mutual benefits and sustainability.

The different types of Cooperative includes business Cooperative, workers Cooperative, second and third tier Cooperative and platform Cooperatives.

Cooperative has proven to be a more viable and sustainable method of engaging in ventures like farming and other facets of human activities compared to engaging in such activities by single individuals or business entities.

Farmchain Finance Cooperative

Farmchain Finance is a Defi protocol that is set up to enable farmers and farm produce in the agric value chain to access funding with farming friendly interest from the Decentralized community.

The Farmchain Decentralized community is simply the Farmchain Decentralized Autonomous Cooperative (DAC) the umbrella Cooperative of the protocol that will mutually provide funding to the farmers Cooperative with a common or mutual interest of contributing to sustainable food systems and expanding profitability.

Farmchain Finance Cooperative Membership

Every $fifi token holders are automatically members of the Decentralized Autonomous Cooperative (DAC) and can raise any proposal for voting by the community and can also participate in voting any proposal raised by other members of the community or the farmers Cooperatives. Holders of $fifi tokens will earn from the transaction fee redistribution in proportion to number of tokens holding in wallet while members who stake $fifi on the staking pool will also earn from the protocol's stable up to 20% APY, including profits from the Lending activities and BNB and BUSD will also be accepted for the protocol staking pools.

Farmers & Farm Produce Cooperative.

Farmers and farm produce dealers can form clusters of 20 - 50 members and sign up on the Farmchain platform with their unique Cooperative name either by themselves or through a FarmchainFinance Node.

They are required to hold a minimum of $200 worth of $fifi tokens and stake same as collateral commitment on a pool to qualify for funding from the DAC. To get funding they will fill and submit a proposal form that will be voted by the community.

Funds will be released when all due diligence has been conducted by the Nodes.

In all, be it Farmchain Finance Decentralized Autonomous Cooperative Membership or Farmers Cooperatives membership, holding $fifi token is a primary requirements