Founder Information

Name: Adenuga Abraham Social Links:

• Farcaster: @theninemystic
• LinkedIn: https://www.linkedin.com/in/adenuga-abraham Are you looking for co-founders?: Yes - seeking a Blockchain Developer to help deploy and manage FRT token and wallet integrations, and a Marketing/Community Manager fluent in local languages & Web3 onboarding strategies.

Project Overview

Project Title: Farminterest - Crypto-Powered Food Processing for Southwest Nigeria What does your project do?: Farminterest transforms agricultural products into finished goods (peanut products, flour mixes, fortified pasta) while onboarding farmers and consumers to crypto through our Farminterest Reward Token (FRT). We create community hubs that teach food production and crypto literacy side-by-side, addressing food security while building Web3 adoption at the grassroots level.

Problem & Solution

What problem are you solving?: Smallholder farmers in Southwest Nigeria grow plenty but remain poor due to inefficiencies and middlemen exploitation. Meanwhile, there's limited crypto adoption in rural communities and food security challenges persist with lack of affordable, nutritious processed foods.

How do people currently solve this problem?: Farmers sell raw produce to middlemen at low prices, consumers buy expensive imported processed foods, and financial inclusion remains limited to traditional banking systems that don't serve rural populations effectively.

Revenue & Business Model

How will you make money?: Primary revenue through processing and selling agro-products with 25-40% margins thanks to direct sourcing and local processing. Revenue streams include:

• B2B Sales: bulk to small grocers, schools, and resellers
• D2C Sales: direct sales via markets and online pre-orders (WhatsApp)
• Partnership revenue: co-funded training programs with NGOs and blockchain foundations
• Crypto incentives: optional discounts for FRT/stablecoin payments

What will you sell?:

• Peanut products: roasted peanuts, peanut butter, peanut oil
• Flour mixes: blended maize, cassava, and soy flour for porridge & baking
• Fortified pasta: wheat-cassava hybrid for family meals
• Packaged oils & condiments from groundnut and palm seed

Do you currently have revenue?: Pre-revenue stage with MVP peanut product prototypes tested at community markets and expressions of interest from 30+ farmers for off-take contracts.

Progress & Execution

How far along are you?: 12 months of development with working prototypes. Produced 3 small batches of roasted peanut products & flour blends, test-sold at 3 community markets, and secured interest from 3 local cooperatives (30+ farmers) for off-take agreements.

Are people already using your product?: Yes, limited test sales at community markets with positive feedback. Farmers have expressed strong interest in guaranteed off-take contracts.

What's your timeline to launch/completion?:

• Month 1-2: Soft launch with peanut products and groundnut oil at 3 pilot markets
• Month 3-4: Add flour mixes and small pasta runs; close first institutional sales
• Month 5-6: Launch FRT pilot, begin accepting crypto payments, host first funded training

How long have you been working on this?: 12 months part-time with structured schedule (weekends + 2-3 weekday evenings). Moving toward full-time within 2 months once initial funding secured.

Technical Details

What tech stack are you using?: Planning to launch FRT as ERC-20 token for low gas and high accessibility. Will accept crypto via QR-code wallets and offer crypto-cashback with community workshops for onboarding.

Implementation plan: Partner with smart contract developer or use no-code/low-code solutions rather than building everything in-house. Exploring support from Vrbs DAO ecosystem for technical implementation.

What's a non-obvious detail about your project?: We use crop by-products (cassava peels, peanut husks) for biogas or compost, creating a circular sustainability model where waste becomes input for other processes, reducing carbon emissions while rewarding sustainable practices with bonus FRT tokens.

Founder Background

Why are you uniquely qualified for this?: I grew up in a farming household and witnessed how smallholder farmers often grow plenty but remain poor due to inefficiencies and middlemen. My experience in food co-ops and early-stage food ventures, combined with 2+ years as a blockchain educator and community builder, positions me uniquely at the intersection of food, finance, and future technologies.

How did you come up with this idea?: The idea came from observing wasted value in agriculture and realizing Web3 could be a tool for empowerment. If I could connect crypto with local food economies, it would create real, everyday use cases rather than just speculative trading.

Past achievement: Successfully built trust networks in rural communities through agricultural co-op work while simultaneously developing Web3 education programs that made complex blockchain concepts accessible to non-technical audiences.

Funding & Growth

How will you use the funding?:

• Processing Equipment (30%): Peanut grinder, sealing machine, drying racks, food-safe packaging tools
• Inventory/Inputs (20%): Groundnuts, cassava flour, millet, oil, labels, packaging materials
• Team & Contractors (20%): Hire part-time ops lead, pay blockchain dev to set up FRT token
• Community Activation (15%): Onboarding agents, local farmer trainings, crypto wallet incentives
• Marketing & Branding (10%): Packaging design, social media, pop-up market displays
• Admin & Ops (5%): Licensing, transport, internet/data for field work

If you had 10x more funding, what would change?: Launch a semi-automated agro hub to process more volume, partner with 500+ farmers, scale FRT token into a DAO + staking system, distribute nationally and enter export markets, onboard 10,000+ wallets with real-world Web3 use cases.

Best-case outcome: Transform thousands of farmers into earners and savers, onboard entire rural communities into crypto through food, and serve as a blueprint for local economy x Web3 integration across Africa.

Additional Information

How did you hear about this accelerator?: Discovered Vrbs through flows community channel on Farcaster. Applied because Vrbs prioritizes real-world trust and onboarding, not just tech. The ecosystem is values-aligned towards practical, grassroots, impact-focused work - exactly what Farminterest is building and aims to achieve.

Additional links or materials:

• Field operations and farming partnerships demonstrated through community engagement
• Processing facility setup with local team ready for scaling
• Product development pipeline from raw materials to finished goods