Introducing RIPER — An AgriDeFi Project Built on Top of an Essential Economy
Over the past decade, James Yau has been an active participant in the farming space and has been directly involved in the cultivation and set-up of farms, scaling up for marketing, and import/export of products. He has observed that many of his counterparts require tools to help them manage their finances and lessen their worries so they can focus on growing the best produce they can.
Throughout his career, he identified many issues farmers and their customers faced. This allowed him to create RIPER — a powerful tool to solve many unaddressed issues in the industry. RIPER seeks to empower farmers financially by quickly paying them in cash. In turn, they can meet their costs, pay off debts they have, and then be free from debts and start farming without a significant monetary burden. This is also all possible without making trading terms worse for their customers, so it’s a win for everyone.
Without further ado, we are excited to officially announce the public reveal of our project — RIPER.
RIPER aims to end farmers’ dependency on debt to finance their businesses.
There are numerous pressing issues that hinder the growth of the businesses of farmers. This includes the chance of failing to obtain financing, possible low sales, fluctuations in market value, and the possibility of money being mismanaged. One that is prominent are the delayed payments or lack of payments amongst buyers, who prefer to wait until the produce is resold before paying the farmers. Because of this, farmers can be put in a difficult position because that’s how the industry has always been in their lives.
The agricultural industry has grown over the past decades and helped farmers by boosting revenues. However, farmers continue to rely on getting loans to meet their operating costs due to the delayed payments and may even have to sell their goods at a lower price than they do to produce.
RIPER’s mission is to provide possibilities for them to better adapt and prosper without the stress of going further in debt.
RIPER allows farmers and agri-enterprises to access trade counterparties to boost productivity and competitiveness.
To allow traders to understand the demand cycles for certain crops better, the trading ecosystem accumulates useful transaction information over time. The RIPER platform is a new route for potential cross-border buyers and sellers of companies, who usually trade in local marketplaces. It is built on trustless blockchain technology, which hopes to serve as a bridge that connects diverse farming communities.
Four Core Pillars
RIPER is committed to democratizing access to the global supply chain between farmers and traders. The trading ecosystem is designed on four core pillars: empowering farmers, facilitating trade, micro financing, and traceability.
1. Empowering Farmers
Providing farmers with a new level of financial control by paying them first. This can assist them pay off their present debt, prevent them going further into debt, enhance cash flow and expand their business if circumstances are suitable to earn higher revenues.
2. Facilitating Trade
The RIPER platform will be constructed to offer a marketplace with sufficient liquidity to support the transactions of both buyers and farmers of perishable items. Buyers benefit from the provision of a longer period of free interest on purchases.
3. Micro Financing
Taking care of up to US$10,000 of farmers’ invoices and giving them access to money so that can help their companies grow. Every invoice is also covered by insurance to help protect against default risks.
Details of transactions are available to the public while also being safe from tampering. Through this level of transparency, trust in third parties is no longer required, and if issues do develop in a deal, the platform team can track them down and promptly resolve them.
RIPER is a revolutionary platform that wants to ensure farmers are paid ahead of other stakeholders. The monetary value of the agriculture economy is incalculable, but it fails to adequately reward workers on the field. RIPER aims to do something that is not common practice, which is paying farmers first. We’re on the lookout for ways to redistribute money in order to make beneficial changes in the sector.
Stay tuned for more information on RIPER DeFi and our ecosystem.