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Getting started
Introduction to Binkabi
Binkabi is a platform for issuing, trading and financing commodities on the blockchain. We are transforming agriculture commodity supply chain in emerging markets for the benefits of farmers, SMEs and other actors.

Our platform empowers farmers, aggregators and SMEs to sell in a more direct way and to obtain finance based on warehouse receipts and contracts. For buyers, quality and quantity are assured by depositing commodities at accredited warehouses/exchanges. For sellers, payment is assured by depositing/ obtaining finance at partner banks.

Comparing to other blockchain companies in the commodity trading and finance space, Binkabi offers an end-to-end solution for the entire trading process from sourcing to settlement and focuses on creating new opportunities in emerging markets.

Our platform is live.
Getting started
How it works
Tokenize Commodities
  • Depositor brings grains to Accredited Warehouse
  • Warehouse weighs, grades and packs grains
  • Warehouse receipts (commodity -backed tokens) are issued to Depositor
Trade on Blockchain
  • Sellers and Buyers post orders on Binkabi platform
  • Platform matches orders
  • Atomic swap of commodity-backed tokens for fiat-backed tokens
Redeem Commodities
  • Holder sends Redemption Request to Warehouse
  • Accredited Warehouse redeems commodities
  • Warehouse receipts cease to exist (commodity-backed tokens burnt)
Getting started
Register a new account
Trading
Top Up/withdraw wallet balance
Wallet balance
To trade on Binkabi platform you first need to top up your wallet. Wallet balance is Your money deposited at Your bank that you will use to trade. You can top up or withdraw from the wallet at any time

Click in for step-by-step guide to top up wallet balance
Trading
Deposit/withdraw commodities
Commodity balance
Your commodity balance represents real commodities deposited in one of the accredited warehouses by a licensed commodity exchange. This balance is created if you deposit a commodity or purchase it from the platform.

Click in for step-by-step guide to deposit commodity
Trading
Make a sell/buy order
Commodity order
Binkabi platform supports both Sell and Buy orders. When Seller already has warehouse receipt and Buyer wallet balance for the trade value, the order will be marked "Instant Fulfilment". This gives Buyer the confidence that Seller has commodity to deliver instantly and Seller the confidence that Buyer has money to pay instantly.

Click in for step-by-step guide to post a sell order
Trading
Make a bid/offer
Offer and contract
Bid is to offer to buy from a Sell order. Offer is to sell to a Buy order. Both bid and offer are bilaterally negotiated. Trader filters open order on marketplace and fill in the bid/offer. Prospective seller and buyer can counter bid/offer until an agreement is reached. Identity of buyer and seller will be revealed on contract page to which both parties need to sign, upon review all the terms of trade.

Click in for step-by-step guide to make a bid/offer
Trading
Execute a trade
Trade execution via smart contract
Once the contract is signed, it will be written to the blockchain. The trade will then be executed instantly in 3 steps. Step 1: Buyer prepares payment and Seller warehouse receipt; Step 2: Each party send required amount of tokens to the smart contract (not to each other); Step 3: Smart contract, upon receiving required tokens in right amount, timing, performs an atomic swap which results in Buyer receiving warehouse receipt and Seller money token. If the trade is not executed by either or both parties, it will fail with token reverting to the original sender.

Click in for step-by-step guide to execute a trade
Warehouse receipt financing
Borrow - Take out a loan
Loan in 2 mins
With the commodity warehouse receipt you own you can borrow from one of our partner banks. You need to fill in a simple borrow request specifying your collateral, duration and loan amount. The platform will automatically pop up prevailing offers. Once you have accepted the offer you need to approve the transfer of the right amount of warehouse receipt to collateral account. That's it. Money will be in you accounts in 2 mins.

Click in for step-by-step guide to take out a loan
Warehouse receipt financing
Borrow - Top up collateral
Top up collateral
Under the loan terms, borrower needs to maintain a minimum collateral ratio (that is value of collateral divided by outstanding loan amount). Due to changes in prices of underlying commodities (our system updates prices daily from price feed of licensed commodity exchange) or partial repayment the collateral ratio may fall under the minimum amount. Our platform will notify the borrower so that appropriate actions can be taken to bring collateral ratio up to the required minimum. Borrower can either repay part of the loan or top up more collateral.

Click in for step-by-step guide to take out a loan
Warehouse receipt financing
Borrow - Repay with fiat
Repay with wallet balance
Although each loan has a duration (say 90 days) you can repay at any time without penalty. Some times it is necessary to repay part of the loan to bring down the collateral ratio (see above) to avoid the loan being liquidated. In your loan page, hit 'repay by fiat' and fill in the desired amount. The platform will process and notified. If the loan is fully repaid, any collateral (warehouse receipts set aside as security for loan) will be automatically returned to you.

Click in for step-by-step guide to repay using a wallet balance
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