Project Name: AgriDex
One liner: Agridex, bringing $2.7Tn agricultural trade on chain
Agridex is a groundbreaking platform that brings the power of web3 to the traditional agricultural
sector. We are set to transform supply chains, increase transparency, and empower farmers with
direct access to global markets. This isn’t just about technology – it’s about reshaping the entire
agricultural ecosystem for the better. AgriDex uses blockchain to dramatically reduce the cost and
friction of transacting across borders.
Agriculture trade is a large and notoriously opaque industry, with inefficiencies caused by opacity
and outdated processes. Leveraging blockchain technology, AgriDex will create a more sustainable, fairer supply chain for the world’s food products. With advances in digital payments, regulatory compliance, and knowledge-sharing, AgriDex will provide a suite of services for all stakeholders in the agricultural supply chain.
GUM, Jupiter and AgriDex
The joy of GUM is its empowerment of the individual. AgriDex aims to leverage the Giant Unified
Market (GUM) to provide real-world opportunities for organic value creation to the DeFi community.
The GUM carries enormous potential to act as a bridge between the DeFi community and
agricultural trade. On a mission to support fair finance and trade terms, Agridex aims to offer yield
opportunities for investment in agricultural trade to investors whilst increasing global food supply
and quality:
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Receivables and Factoring
Traders and transactors rely on extended payment terms, typically 90 days. AgriDex tokenises the deal into an NFT underpinned by a ricardian contract that includes these payment terms. These can be offered for sale immediately at a discount to the final settlement amount. What this means is large corporations buying products often wait 30-120 days to pay their suppliers, Agridex will have access to a range of receivables from A grade communities (Coca-Cola, Nestle, Pepsi and others) that will pay up to 15% yield. This can be linked to a range of stables and tokens, with often controlled risk and clear structure. Not only is this a positive for returns for token holders, it also allows faster and clearer payments to farmers and producers, a net benefit. -
Fractionalised Trade Finance
Trade finance underpins all global trade, yet its often overlooked for other asset classes. Agridex’s preferred partners have a range of trade finance lines which will allow the option of tokenisation of products and a range of yields and risk profiles. As with receivables finance it will rest on ledger technology and consistent historical trade data: well-known traders and producers can ‘tokenise’ their trade finance needs and people on GUM can purchase these tokens, getting a range of double digit yields from established groups. Practically, once the supporting documentation for a proposed trade has been uploaded on the platform (ie moving $2m of Cashews and Cocoa from Uganda to Switzerland), the trade can be financed by the GUM community who could earn 3-6% on a 90 day term. Agridex has a list of launch partners including Parrogate (turnover $1.2 billion), Imperial Group (turnover $700 million) and others. This provides the ability for groups in Web3 to engage in fractional versions of their trades and finance needs. -
Sale of Contract Farming
Farmers in the developed world typically sell a proportion of their crop ahead of harvest at a
discount as a hedge and to improve cash flow. This can be tokenised on the platform and sold on the GUM secondary market as a speculative asset. -
Tokenising Capital Expenditure in Agriculture
Agriculture is a high capital expenditure enterprise. There is a significant opportunity for investors to be able to support farmers in the acquisition of tractors, equipment or farmland. They will receive a yielding asset that is secured by an asset and underwritten by a ricardian contract.
Strategic Partners
AgriDex brings together a robust network of strategic partners across web3, agricultural production and agrifinance. AgriDex is built on and supported by Solana and Circle. Bridge.xyz and Bastion support our settlement functions providing a seamless experience for our customers interacting with DeFI for the first time. Our launch partners in the agricultural space include Parrogate, MHP, African Crops Limited, Demeter Holdings and DADTCO and account for billions of dollars of agricultural trade. All are design partners whose needs and experiences are guiding the development of a market dominating product that is simultaneously a force for good.
The AgriDex Foundation provides education and investment to improve farming practices in the
developing world. Token holders direct and support the foundation’s activity as we improve farming
practices and open up markets to smallholders.
VISION
Agriculture is the lifeblood of society, it powers all of us everyday to tackle life’s most pressing
challenges. Agridex is powering a fair, transparent, ethical and sustainable future by redefining how suppliers, distributors and farmers trade.
Why did you build the project?
Our founding team has a unique combination of being at the coalface of agricultural and trade
friction in the developing world and in cutting edge technology investing. They bring a deep
understanding of the problem set and of how technology can unlock the answers. Henry witnessed firsthand how the inefficiencies and biases in agricultural trade pushed risk towards farmers and reward towards intermediaries. Combined with Russell, who brought DeepMind from concept to sale to Google, they have 50+ years of experience: a unique lens to understand the intricacies that power the agricultural trade and how to unlock efficiency. With our backgrounds and knowledge of these challenges we felt compelled to build a platform that will enable a fairer, more sustainable and efficient future. We saw not only a real need for the platform but an opportunity to revolutionise an industry through blockchain technology.
How does your project fundamentally change the web3 space?
Agridex brings web3 to web2 communities. We unlock doors for an entire community of individuals
and businesses who otherwise would likely never find a real-world use case or need to join a web3 project. The web3 ecosystem will have an opportunity to directly participate and influence how the agricultural trade operates on an international level. This isn’t about forcing web3 onto reluctant users. It’s about creating genuine value that makes adoption a no-brainer. The impact of this will be immense, as we’re aiming to reshape international agricultural trade from the ground up. For example, suppliers and farmers will now be engaging directly with the web3 community and will have the chance to help revolutionise how the entire agricultural industry operates. Providing immediate economic value inside a vibrant ecosystem will catalyse a revolution for
agricultural trade.
What are your upcoming plans for the project?
In Q3 2024, we will be launching the next iteration of our product, engaging with our development
partners to bring the next range of end-to-end agricultural trades on chain. Also in Q3 2024 we will
be launching our governance token, driven by a diverse community of stakeholders who are passionate about the provenance, transparency and fairness in the food supply chain. We look forward to building this product with the Jupiter community!
Our Team
Here is a brief description of some of the Agridex team and their history and backgrounds:
Henry Duckworth - Co-Founder & CEO
Henry started his career as the youngest trader at Trafigura, quickly advancing to manage complex trading operations involving cobalt from the Democratic Republic of Congo to China. With a foundation in law from Leeds University, Henry’s early experiences in high-stakes trading
environments honed his skills in supply chain optimization and strategic decision-making. After over a decade in trading and agriculture investments, he transitioned to EFA Group, where he established and led the EMEA desk. Here, he expanded the company’s environmental, social, and governance (ESG) investments, particularly in the cocoa industry, focusing on initiatives that enhanced female participation in the workforce while securing robust financial returns. His work not only reflects his adeptness at navigating complex markets but also his commitment to impactful and sustainable investment practices.
Twitter: x.com | LinkedIn: https://www.linkedin.com/in/henry-duckworthb8731531?originalSubdomain=uk
Russell Duckworth - Co-Founder & Executive Chairman
Russell is a seasoned financier and serial entrepreneur with a sharp eye for innovation. After earning a BSc in Economics from The City University, Russell qualified as a Chartered Accountant with PWC. His career in finance took off with roles in M&A at S.G. Warburg, followed by a stint in Equities at Warburg and Deutsche Bank, where he ascended to Global Head of Research. Not content with corporate success, Russell ventured into entrepreneurship, founding several companies and two funds. Russell launched Plan with Grace, bringing funeral services online, and Gazeal, which introduces reservation agreements to simplify residential housing transactions. He was the first outside investor and one of the earliest shareholders in Deep Mind, the pioneering AI startup now integrated into Google. He assisted in taking it from an idea to sale to Google for $500 million. He believes that Agridex is an even more exciting opportunity.
LinkedIn: https://www.linkedin.com/in/russell-duckworth-18067918/
Shawn Derouard - CTO
Shawn Derouard brings over 25 years of rich experience as a developer, technical architect, and
digital strategist. With a background that includes roles like Technical Director at major agencies
such as Razorfish, Digitas, and Publicis, Shawn has a well-rounded profile. His most recent stint
was at Applied Blockchain, the UK’s leading group specializing in Blockchain, zero knowledge, and confidential computing solutions. Shawn’s portfolio is robust, featuring the development of critical trading systems, supply chain provenance systems, DeFi protocols, and cross-border payments. His work has supported initiatives for prominent clients like Total, BP, Nissan, Levi’s, Eli Lilly, Pfizer, and DHL, showcasing his ability to handle high-stakes projects in complex environments. He has built several large scale blockchain products including the $1 trillion USD derivatives desk for Shell Oil.
Twitter: x.com | LinkedIn: https://www.linkedin.com/in/shawnderouard/
Edward Monckton - CSO
Edward brings a rich background in military leadership, diplomacy, and strategic advisory spanning 15 years. His career has taken him across Europe, the Middle East, and Africa, where he specialized in resilience, fostering sovereign partnerships, and advocating for multilateralism. Edward’s diverse international experience equips him with unique insights and strategic approaches vital for navigating complex global challenges and fostering sustainable partnerships.
Appendix/About
Website: https://agridex.com/
Whitepaper: Agridex Whitepaper.pdf - Google Drive
Video from our CEO: x.com
