Kernel Trade announces its IEO launch on Coinsbit for August 27, 2019
KNL token Aug 11, 2019
Kernel Trade is an innovative platform allowing agricultural producers and other businesses to tokenize their assets and obtain funding. The project will bring together farmers, SMEs, and investors and comprise crowdfunding offers, a digital exchange, and a network of grain elevators.
Scaling small and medium agricultural businesses is a major paint point for the industry. Since farmers usually cannot use grain as collateral, they cannot obtain enough funding from banks to expand their production and upgrade equipment. Instead, they are forced to sell their grain right after the harvest, when the price is lowest, to pay off their loans.
Thanks to Kernel Trade, investors will be able to support agricultural projects with the highest potential, while eliminating the risk of scams and fraud. Investors who provide loans secured by tokenized grain will have the choice of either getting repaid upon the agreed terms at the end of the period or selling their grain tokens several months after the harvest, when the prices are highest. The tokenized grain pledged as collateral will be securely stored on elevators belonging to Kernel Trade.
The founders of Kernel Trade are seasoned agricultural entrepreneurs with a wide network of connections in the business and a ready pool of clients. A fully functional MVP is already available at KNL website.
Grain is far from the only asset that can be digitized on the platform. Real estate, shares in businesses, commodities of all types, and raw materials can all be turned into tokens and pledged as collateral when attracting funds.
While an ERC20 token is used for the IEO purposes, the Kernel Trade platform itself is built on Stellar blockchain – one of the fastest and most efficient available on the market. Each transaction on Stellar takes only 3 to 5 seconds to process, and fees are virtually zero. The use of blockchain will guarantee traceability and security – crucial qualities for a project that involves P2P fundraising.
The first round of Kernel Trade IEO will start on August 27, 2019 on Coinsbit. A total of 17 million KNL tokens will be put up for sale at the price of $0.1 per token. The Soft Cap is set at $350 000. The minimum purchase amount is just 1 KNL, while the maximum limit is set at 1 million tokens. For more information about the IEO, visit https://coinsbit.io/ieo-list/KNL_31.
Kernel Trade White Paper and MVP are available on the official website at https://knl.asia/.