FarmSent is the world’s first blockchain network that is dedicated to farmers and producers. The decentralized platform enables framers to supply their goods to consumers globally in a trustless and transparent manner.
Today we will be taking a closer look at the project to figure out if it’s a legitimate platform and delivers on the promises it made.
This article will also explore the capabilities and performance of the blockchain’s native FARMS token.
So, sit back, relax, and find out whether FarmSent is real or fake.
What is FarmSent?
Farmsent is a blockchain-based decentralized marketplace designed primarily for farmers, where they can supply goods and services directly to consumers.
The platform allows farmers to access a wide network of distributors, ensuring transparent tracking and verification of product origin and quality.
The farmer’s market deployed on Ethereum’s scaling blockchain, Polygon (MATIC), claims that both farmers and buyers can benefit from its enhanced trust and transparency.
The project’s core aim is to simplify the process by which farmers sell their produce. This involves handling supply chain logistics, quality assurance, and secure payment processing.
By taking care of the hard stuff, farmers are given the peace of mind to focus solely on their craft, which is farming.
The marketplace promises accessibility for farmers and farmer-oriented businesses from all backgrounds.
Additionally, it ensures fair pricing for crops and fosters healthy customer relations by connecting farmers directly with the buyer, eliminating the middleman.
How Does FarmSent Work?
The mission of the Farmsent team is to cut out the middlemen, enabling farmers or producers to set the true price for commodities and giving them a higher profit margin in the process.
This also ensures that buyers get better deals on products that haven’t been influenced by middlemen or other distributors.
Farmsent will use a fair future contract (FCC), which allows the farmer to sell their produce at the current market price instead of a price that was set earlier.
The smart contract is designed to track the live market price of each commodity and assign it accordingly.
The blockchain empowers farmers by addressing issues such as crop insurance, access to fertilizers, agritech, and volunteerism during harvest seasons.
The FarmSent Foundation, which oversees the network, will help farmers registered on the marketplace with these causes to ensure their well-being.
Farmers are given seed ownership as well as the opportunity to directly sell their produce to interested buyers.
FarmSent also improves farmers’ scope to make good profits by cutting out the middlemen, allowing them to deliver quality produce, while consumers get to enjoy its benefits
What is FARMS token?
FARMS is the native cryptocurrency of the FarmSent blockchain. The governance, commission, and security deposit token are intended to increase trust among all participants of the network who are also involved in every part of the trading process.
The tokens are considered the primary instrument of the Farmsent network. FARMS helps improve farmers’ access to capital by implementing a more efficient trading mechanism that eliminates trade bottlenecks caused by centralized systems and practices.
What Is FARMS Distribution?
There will be a maximum supply of 10 billion FARMS, of which 10% has been allocated to FarmSent’s private investors, 5% to advisers, and 15% to the development team.
There is a vesting period for the tokens, which is meant to ensure a fair distribution of the tokens.
The vesting period begins with a 6-month cliff for private investors and a 12-month cliff for team members.
Throughout this time, the designated tokens remain locked for better stability and security.
Following the cliff, the tokens will be distributed gradually, with a linear process that occurs at a rate of 10% per month.
This allows private investors, team members, and advisors to receive their share of FARMS in stages.
Investors can view the distribution schedule and token release using their assigned Polygon wallet.
FARMS, which is still in its pre-sale stage, is currently valued at $0.0598, down 0.3% in the last 24 hours.
The blockchain has had a 24-hour trading volume of $54,269. The fully diluted valuation of the 10 billion FARMS is currently close to $600 million.
The token is not available for purchase as the FarmSent project is yet to go live.
Is FarmSent Real or A Scam?
FarmSent has the outlook of a credible project, and its mission-oriented approach to blockchain oozes trust.
The upcoming platform seeks to empower farmers worldwide by giving them a trustless and transparent space on the blockchain where they can directly sell their produce to customers without having to depend on a middleman.
The decentralized marketplace is set to be deployed on the Polygon network, which is a highly scalable and faster Layer-2 network based on Ethereum.
FarmSent’s developers were keen to choose a foundational blockchain that is highly efficient in serving the needs of our society’s primary producers.
All things considered, we can assume that FarmSent is not a fake project. Its mission to build a community around the world’s farmers is much appreciated and well-calculated.
However, it needs to be seen how the project will fare once the marketplace is launched and the $FARMS tokens are listed on major exchanges.
Until then, it is hard to make a judgment on the project as to if it is real or a scam.
In the meantime, I would recommend you do your due diligence and try to understand the project by yourself before investing in it.
Conclusion
It is clear that FarmSent is a reliable platform, following a thorough examination and analysis. FarmSent appears to be a reliable company after a close examination of its user experiences and business practices. It offers worthwhile services without showing any indications of dishonesty or fraud.
