One question I often encounter on twitter or in real life is: What are the use cases for defi? People love to say many things: money markets, NFTs, speculation, and tokenized real estate to name a few. Most of these are untested or unpredictable. LandX offers an intriguing value proposition — real farmland and the commodities grow on them (currently planning to offer Rice, Corn, Soy, and Wheat) as a different source of predictable yield and funding. All of this available through the Ethereum network (or rollups in the future).
I recently tried out their test network to get an idea how it worked from a n app perspective.
The first token offered on the site was the capability to exchange stablecoin (USDC) for a tokenized version of a commodity (see below).
That tokenized commodity can then be staked on the LandX website can be staked on the website in exchange for a yield equivalent to the market value of 1 kg of the product.
