Hey everyone!

Blockchain tech gets a lot of buzz for its future possibilities, but it's still finding its feet in the real world. That's where platforms with a practical focus really shine. They use super decentralized blockchains like Cardano and Ergo to help communities that often get overlooked, giving them a leg up in the financial world.

In this special edition of “Just the Metrics”, we're diving into Palmyra. It's one of the pioneers in tokenizing real-world stuff like commodities, aiming to open up opportunities and bring financial tools and global market access to those who usually miss out.

We're also going to take a peek at the ongoing ISPO, what's up with PALM tokens, and other cool stuff.

So, let’s dive in!

What you’ll learn today

Insight 1:See how Palmyra uses blockchain for real-world benefits in commodity trading.

Insight 2: Understand Palmyra's role in helping small-scale producers navigate global market challenges.

Insight 3: Learn about the ISPO, how to participate, and the benefits like PALM tokens and NFTs.

Problem at Hand: The Plight of Small-Scale Producers in Global Commodity Trading

The challenge that Palmyra aims to tackle is profound and layered, deeply rooted in the existing structures of global commodity markets and predominantly affecting underserved farmers and small-scale traders in developing countries.

Firstly, these communities, often rich in high-quality commodities, face significant hurdles in gaining fair market value for their products. The global commodity market, as it currently operates, is skewed in favor of larger, more established entities.

This imbalance arises from various systemic barriers such as lack of market knowledge, limited access to international buyers, and an inability to compete on pricing due to smaller scale operations. Consequently, producers in these communities are often forced to sell their commodities at lower prices, significantly impacting their potential income and livelihoods.

Moreover, the complexities inherent in traditional trading systems further exacerbate this issue. The intricate nature of these systems, with their extensive paperwork, opaque procedures, and bureaucratic hurdles, creates a nearly insurmountable barrier for small-scale producers. This complexity not only makes market access difficult but also introduces inefficiencies and opacity in transactions, leading to diminished trust and increased risks for these producers.

Additionally, the lack of direct access to global markets means that these producers often have to rely on intermediaries. These middlemen, while providing a crucial link to larger markets, also take a substantial cut from the profits, further reducing the producers' earnings. This reliance on intermediaries often leads to a cycle of dependency and diminishes the producers' ability to negotiate better terms or explore alternative market opportunities.

Palmyra aims to solve this by implementing a blockchain-based platform that democratizes access to global commodity markets.

How exactly is Palmyra doing that?

Let’s get into those details 👇

Why Is Palmyra A Blockchain Based Solution?

So, why go blockchain with Palmyra? Well, it's all about making blockchain tech more about what it can do rather than how it works. This kind of utility-first angle really clicks with most people. It's like using the internet without needing to know all the techy stuff about TCP/IP protocols.

By keeping the focus on what the blockchain system can do, Palmyra's making this tech way more user-friendly and less intimidating. This approach is key in getting more folks on board who might otherwise be put off by all the complex blockchain jargon.

Take, for example, how blockchain is great at keeping track of things. This is perfect for Palmyra, as it means they can trace and verify all sorts of commodities. This boosts transparency and trust in the whole trading process.

Then there's tokenization, which is a big deal for Palmyra. It lets them create unique financial products, kind of like how fine wines are traded. This is super useful for stuff that's usually hard to put a standard value on because of its unique nature.

And let's not forget about Palmyra's Rebate System – that's another area where blockchain really shows its worth. It plays a crucial role in making the whole rebate thing work smoothly and securely.

So, when you look at it, Palmyra's choice to go with blockchain, it's about using this tech to do some really practical and cool stuff.

Palmyra's Rebate System: Bridging Crypto and Traditional Economies

Palmyra's got this unique twist with its rebate system, which is part of its tokenomics. It's different from your usual crypto stuff because it brings in fresh cash from real-world business right into the token world.

This is primarily achieved through the conversion of fiat transaction fees into token rebates.

Here's how it works:

Revenue Generation through Transaction Fees:When users carry out transactions on the Palmyra platform, a portion of the transaction fees, which are paid in fiat currency, is converted into token rebates, hypothetically set at a specific percentage, for example, 10%.

This conversion infuses new money into the token economy, setting Palmyra's model apart from traditional models that rely on internal capital flow.

Rebate Allocation: If you're into staking on Palmyra, you can get your hands on these rebates. It's a smart way to get people involved and offer them a little extra for being part of the platform.

The cool part? These rebates are tied directly to how well Palmyra's doing in the real world. That means the token's value is closely linked to actual business performance, making it more down-to-earth and stable.

By mixing real-world transaction fees with the crypto side of things, Palmyra creates a neat connection between its digital ecosystem and the bigger economic picture. This not only boosts the usefulness of the token but also builds a more lasting economic setup, giving a more solid ground for valuing the token.

To make all this work, Palmyra's gotta smoothly blend traditional finance and blockchain tech. This ensures that everything from transactions to handing out those rebate tokens is done right and tight.

That's the gist of why the PALM Token is more than just another crypto coin and why the ISPO is something to keep an eye on.

But before we dive into the ISPO stuff, let's circle back to why Cardano and Ergo are the go-to choices for Palmyra's tech backbone.

Choice of Cardano and Ergo Platforms for Palmyra

Selecting Ergo and Cardano as foundational platforms for Palmyra was a calculated decision, primarily due to their E-UTxO model. This model is key to the core design of the Winter Protocol, used by Palmyra for tokenization and traceability.

The Winter Protocol, a comprehensive open-source suite, is engineered for scalability across a spectrum of project sizes, with a clear objective of facilitating mass adoption. It provides a range of modular, user-friendly tools for developers working on Cardano and Ergo.

Ergo's also a bit of a standout when it comes to creating NFTs on the cheap. This is super handy for managing a whole bunch of different commodities without breaking the bank. It's especially great when you're dealing with lots of different items, keeping things scalable and sustainable.

Then there's Cardano for providing real-world oracle solutions. These are key for getting up-to-date data feeds, which are super important in the world of commodity trading.

Cardano also brings to the table a really strong, decentralized setup, perfect for building specialized oracles and keeping all that trading data safe and sound. This kind of security is super important when you're dealing with financial transactions and sensitive info about commodities.

But it's not just about the tech. The communities behind Cardano and Ergo are a big part of the picture too. They're all about inclusion, creating opportunities, and thinking ahead. It's not just support; these folks are really involved, giving feedback, spreading the word, and sharing Palmyra's vision of making a real difference.

This community vibe is a big deal for Palmyra, as it's trying to shake up the usual way of doing things and bring in some fresh ideas.

Bridging Blockchain Tech with On-the-Ground Services

Moving beyond just its blockchain roots, Palmyra is now shaking things up in the real world, particularly with logistics and freight forwarding. It's a smart move that shows how they're meshing high-tech with hands-on solutions, like in the specialty tea market.

At the core of Palmyra's logistics strategy is a keen focus on services that really make a difference for specialty tea producers. These guys often find it tough to ship small amounts without spending a fortune. The usual logistics options aren't great for smaller shipments, like between 100 and 2000 kilos, leading to hefty costs or the need to send more than they can handle.

Palmyra's answer? A cool crowdsourced freight service. It lets producers buy just the container space they need. This idea is a game-changer, slashing shipping costs for the smaller players who usually get stuck with higher expenses.

This whole setup isn't just about making freight forwarding easier. It's also about giving the little guys a fair shot at the global market.

Onboarding Process for Farmers and Traders

Getting farmers and traders onto the Palmyra platform isn't just a sign-up-and-go kind of deal. It's more about building real relationships, teaching them the ropes, and showing how smoothly they can blend it into what they're already doing.

It's been super important to build trust, especially with the folks in Sri Lanka and Turkey. They're learning how blockchain can up the value of their products and open doors to bigger markets.

The platform is designed to be user-friendly, so it's easy to get the hang of and see the benefits like better prices and reaching customers all over the globe.

Recent Developments and Expansion

Recently, Palmyra has been busy getting tea producers in Sri Lanka on board. It was a bit of a tough start, but now they're really seeing how cool the platform is. Turkey's been on a similar journey too. And guess what? Palmyra is not just about tea anymore. They're stepping up their game with stuff like spices, cinnamon, rubber, and maybe even sapphires.

Oh, and here's some exciting news – they're about to bring in some amazing Greek olive oil soon. This is really spicing things up and shows how Palmyra keeps growing and mixing things up!

Palmyra has set a pretty straightforward goal for itself: to reach a monthly trading volume of $2 million within the next six months. It's a neat target that reflects their plan to make a meaningful impact in the commodity trading scene, especially in developing countries.

A Guide to  PALM ISPO on Cardano: Process and Participation

An Initial Stake Pool Offering (ISPO) is a novel fundraising method on the Cardano network. Unlike traditional fundraising methods like Initial Coin Offerings (ICOs), an ISPO allows participants to contribute to a project without directly spending their cryptocurrency but their staking rewards. 

Core Concept of the PALM ISPO:

• In an ISPO, holders Cardano’s native currency ADA can delegate their ADA to a specific stake pool.

• Instead of receiving ADA rewards, participants are rewarded with tokens from the project conducting the ISPO—in this case, PALM tokens.

• This model benefits the project as it helps in bootstrapping network security and decentralization. At the same time, participants get an opportunity to earn new tokens, fostering a sense of community involvement.

Key Details of the PALM ISPO:

Palmyra has partnered with Maestro to provide robust infrastructure for two designated stake pools, PALM1 and PALM2. These pools have different margins (99% and 50%, respectively) to cater to diverse community preferences.

Duration: The PALM ISPO is set to run for approximately 4-6 months. The ISPO will conclude once the allocated tokens for this round are fully distributed.

Exclusive NFT for Participants: As a special appreciation, participants who stake in any of the PALM pools for more than 10 epochs will receive a unique NFT. This NFT offers early access to the Cardano IDO, adding an extra layer of exclusivity and benefit.

How to Participate:

• Choose a Pool: Select either the PALM1 or PALM2 pool based on your preference.

• Delegate Your ADA: Use a Cardano wallet to delegate your ADA to the chosen pool.

• Earn PALM Tokens: Participants will receive PALM tokens instead of traditional ADA staking rewards. Details on how to claim these tokens will be provided closer to the TGE (Token Generation Event) date.

Keep an eye on official PALM communications for the latest updates and announcements about the ISPO.