FUNDING FARMS AND FOODMAKERS THROUGH LOKAAL MARKET
Individuals, foundations, or institutions can donate tokens to a specific farm, or into a fund allocated for environmental and social impact projects.
Lokaal Market records the project requirements on the smart contract, and makes it available to our network of vetted agriculture businesses.
Farms and project owners that qualify for the funding can instantly recieve LOKA tokens through our microgrant or interest free microloan programs.
Tokens can be redeemed for local currency and used as needed, or can be redeemed for products or services in our B2B marketplace, like farm equipment or web design.
HOW DOES LOKA FUNCTION AS A CURRENCY FOR SOCIAL GOOD?
|A CIRCULAR ECONOMY|
|Lokaal Market is an open consortium of good food businesses accepting LOKA as a payment option. The network is designed to accomodate sellers across the full good food supply chain, including farms and retail food establishments, as well as the B2B agricultural suppliers providing all the goods and services needed for farmers to grow a succesful business|
|The exchange rate for Loka tokens is stabilized in two ways to protect our suppliers and customers from marketplace volatility. First, Lokaal Market guarantees vendors on our network the ability to cash out for local fiat currency at the same exchange rate that was in place at the time of a sale. Second, Lokaal Market monitors the price of the LOKA on the open market and uses our currency reserves to increase or decrease the supply according to fixed and published rules which smooths out the market price changes|
|Individual consumers who choose to make purchases using LOKA earn a bonus in tokens for every purchase they make, and for every purchase that someone who they refer makes. These special bonus tokens do not expire and can be given as a gift, but can only be redeemed for products or services sold on the Lokaal Market network.|
|CASH FLOW BENEFITS FOR GOOD FOOD BUSINESSES|
|Vendors participating in the Lokaal Market network receive a number of cash flow benefits. Instant payment on all B2B and D2C sales, greatly reduced transaction costs and payment administration costs, and the ability to utilize an instant token advance loan based on average sales history.|
|SOURCING TRANSPARENCY ON THE BLOCKCHAIN|
|The blockchain ledger provides the ability for product information and sourcing to be recorded and stay with the order through the supply chain, whether it is a dozen eggs coming from the farm down the street or chocolate coming from half way around the world.|
|TOKENS FOR CARBON CREDITS OR CHARITY|
|Institutions that want to purchase carbon offset credits, or would like to make a philanthopic donation to a food related non-profit can purchase tokens written with their specific requirements encoded into smart contracts which allow for a distributed network of small scale players to execute the contract without intermediaries sucking up a big portion of the funds on administrative costs.|
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