[PRESS RELEASE – Dubai, UAE, July 24th, 2024]
LandX Finance, through its blockchain based LandX Credit Gateway platform, and Dominion Blockchain Solutions Ltd. are thrilled to announce a strategic partnership designed to transform grain inventory financing. This alliance is set to advance the decentralized finance landscape significantly.
LandX Credit Gateway: Pioneering Decentralized Lending
LandX Credit Gateway has developed a blockchain based platform that facilitates peer-to-pool loans via decentralized and automated smart contracts. The platform utilizes public blockchains to ensure secure, transparent, and efficient transactions. As a leader in agricultural finance on blockchain, LandX’s partnership with Dominion Blockchain Solutions Ltd. will promote growth and application of blockchain technology in bridging the agricultural financing gap.
Innovative Financing Model for Farmers
Under this new collaboration, Dominion Blockchain Solutions Ltd. will source funds through the LandX Credit Gateway to deliver timely payments to grain growers. This model accelerates the payment process for farmers while providing attractive investment opportunities for investors in the crypto ecosystem.
How the System Works:
Dominion Blockchain Solutions Ltd. will leverage the LandX Credit Gateway platform to obtain USDC denominated loans. These funds will be secured via lending pools that investors can deposit USDC to earn interest and additional rewards.
The funds sourced through LandX Credit Gateway are secured by inventories of grain and will then be used to finance trade, capital expenditures, and other key financing activities in the agricultural industry. This system provides farmers access to liquidity they would not otherwise be able to access in the shortest time, enhancing their cash flow and operational efficiency.
Dominion, through their Grain Intelligence division provides a comprehensive digital solution which tracks grain related data from the farm field to the processor utilizing blockchain. This starts with grain sampling and analysis at the farm, the results of which are shared with potential buyers; a digital sales contract is created; the grain transportation is tracked; and payment is triggered when evidence of delivery is provided. This dirt to delivery solution provides full traceability which can be utilized for carbon credits, regenerative and sustainability initiatives, and other valuable applications in the food chain.
North West Terminal, pays for the grain on 35 days deferred terms. During this period, the funds sourced on LandX Credit Gateway and collected by Dominion Blockchain Solutions Ltd., and delivered to growers. Once invoices are paid by NWT the loans are closed.
“Partnering with Dominion Blockchain Solutions Ltd. underscores our commitment to driving innovation in the DeFi space. Our platform is designed to empower businesses with secure, transparent, and efficient financial solutions,” said Zen, Head of Strategy at LandX Finance.
“We are thrilled to collaborate with LandX Finance. This partnership enables us to leverage advanced blockchain technology to enhance our financial operations and drive growth,” said Jason Dearborn, CEO of Dominion Blockchain Solutions Ltd.
Future Prospects
This partnership is poised to unlock significant potential in the DeFi landscape. By combining the strengths of LandX Credit Gateway’s innovative platform and Dominion Blockchain Solutions’ expertise in agri-tech, both companies are set to achieve new heights in financial services. This pilot project is just the beginning, with more to come as demand for Real-World Asset projects in DeFi continues to grow.
About LandX Finance
LandX Finance is a pioneering entity in the decentralized finance sector. Its LandX Credit Gateway platform is at the forefront of blockchain-based lending, providing businesses with innovative solutions to access liquidity through decentralized and automated smart contracts. By expanding the range of collateral available for loans, such as trade finance, LandX Finance is closing the agricultural financing gap through innovative decentralized financing solutions.
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About Dominion Blockchain Solutions Ltd.
Dominion Blockchain Solutions Ltd. is a dynamic company dedicated to the development and application of blockchain and agricultural technology.
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