The problem Brú Finance solves

Bru Finance offers a transformative social impact lending platform designed to address critical challenges faced by farmers in emerging markets, particularly those related to distress sales, access to finance, and market linkages.

In emerging markets like India, Farmers often sell their harvests at significantly lower prices due to localized demand-supply mismatches post-harvest. Bru Finance mitigates this issue by allowing farmers to deposit their crops in affiliated warehouses, tokenize this crop deposit and uses these tokenized commodities as collateral for providing immediate on-chain credit to farmers, without needing to provide additional security such as land or gold.

This in-time intervention enhances the stock holding capacity of the farmers enabling them to wait for right prices and sell at a later stage when prices are higher. This saves farmers from exploitation by intermediaries and also reduces their reliance on usurious money-lenders.

The tokenized commodity deposits are also sold on a commodity exchange thereby providing the farmers with deep market linkages reducing reliance on intermediaries.

We have used Coinbase ‘Smart Wallet’ for better user onboarding, Stripe Integration to enable fiat transactions and Paymaster to create a gasless environment for the farmers and liquidity providers.

Challenges we ran into

While implementing ‘smart wallet’ with our platform we were facing issues in signing the transaction. As we were using thirdweb for integrating smart contracts, and ‘smart wallet’ wasn't available on that version so we had to upgrade our code to make the ‘smart wallet’ function smoothly.

Also we faced major challenges in integrating paymaster while trying to implement "sponsor gas" for our users. Though the paymaster is working with the back end, we could not make it run with frontend.