Brox Fish Farm Whitepaper

The Whitepaper


Brox Fish Farm

Aquafarming in the Cloud

www.broxfishfarm.com


Experience aquaculture at your fingertips. Grow fish, crabs, shrimps and seashells together with your money.



Executive Summary 


Traditional farming techniques are still widely used in the country in terms of fishpond operations. Apparently, this is not fully sustainable as the majority of vast land and aquatic resources in the Philippines, or even globally, remains underutilized. Moreover, the present farming and fishing techniques either destroy the ecosystem or cause seed depletion of some important species. The initial focus of Brox Fish Farm (BXF) lies in the development of new methods and adapting existing methods of culture and seed production of mud crabs that are effective, cost-efficient, eco-friendly and will increase production to ensure profitable harvests. 


For decades, one of the main concerns of the experts remains to be the source of mud crab seeds. Unfortunately, hatchery techniques in the country have been under developed since the onset of the fishpond industry. Brox Fish Farm aims to conduct research on this aspect to ensure its viability and to prevent the ongoing abuse of catching seeds in the wild. Crowdfunding for this project will be facilitated by the Initial Coin Offering (ICO) of the BXF tokens. Participating in the ICO will be like having your own virtual farm. The coin value will grow as the net profit will be incorporated in the price of the coin. Portion of the profit will be added to the revolving fund which will then increase the production. Every end of farming cycle, 20% of the profit will be available for the investors who want to cash-out their profits or their investments. This percentage will be increased depending on the board’s decision or upon request of the coin owner. This can be done by selling all or a portion of his/her BXF coins in the Waves Platform. On the other hand, pre-sale of the BXF tokens will be for the purpose of farming profitability improvements and as its initial development stage. This will ensure the return of investment ROI of the token holders.


Brox Fish Farm is not just the small 2-hectare fishpond which is located in Prieto Diaz, Sorsogon, Philippines. It is the team of innovators, researchers, investors, collaborators and all the projects which will be implemented across the country and globally. The repository of researches and innovations will be carried throughout its expansion and diversifications in the aim to put food on the table produced by aquaculture. Its expansion will not be limited into the food production in aquaculture but also for other types of farming. It is also envisioned to break the boundaries of farming industries and also to develop energy, shelter and ecotourism centers.


Under the initial development stage, the necessary regulations and permits will be complied. The by-laws and articles of incorporation will be crafted by online collaborators and the founding team. Bounty in the form of BXF will be offered for the collaborating team as compensation for the work rendered. The official website and mobile apps will also be developed during this stage.



Projects and Roadmap


1. Initial Development Stage

This covers the Research on the Profitability Improvement of Mangrove Crab Scylla Serrata through Feeding and Isolation Techniques Treatments. This is the founder’s thesis in his MBA. The research requires experiments on different types of feeds and caging methods. The research will fill the gap in knowledge on the cost and effectiveness of the treatments in terms of growth and survival of the chosen specie of mudcrab. Although this is the initial development stage, the production under this experimental period is already expected to provide revenue for the company. The incorporation, building of IT infrastructure, and the compliance of most, if not all, regulatory requirements will also be covered in this stage. Lastly, the initial research of the mudcrab hatchery production cost and viability will also be conducted.


2. Mangrove Crab Hatchery and Initial Coin Offering

This project is expected to be the one that will provide massive revenue for the company. The market for the crablets is unimaginably huge. The present price of a crablet in Philippine market is PHP 5.00. A single broodstock holds 5 million eggs. Although under the present technology, the survival rate of the eggs to be crablets is only 1%. This means approximately 50,000 crablets can be produced by a single broodstock. This means that a broodstock can give the maximum revenue of PHP 250,000.00. The cost of production will be determined by the research in the initial development stage. With regards to how many broodstock and hatchery tanks will be simultaneously farmed, the count will be determined by the amount of capitalization the ICO will be raised. This project and the full blast operation of mudcrab culture will be the main focus and purpose of the ICO. Part of the initial funding profits in this project will be funding expansion, researches and continuous improvements of production and profitability of these farming techniques.


Future Projects and Secondary Coin Offerings

3. Aquasilviculture of Vast Mangrove Areas

4. Procurement of fishponds to expand and replicate operations 

5. Farms as Ecotourism Destinations

6. Development of Backyard Farming Packages for locals as replacement to piggery or poultry 

7. Indoor mudcrab farming (replication of ongoing practices in Philippines’ neighboring countries)

8. Product development such as Monitoring Instruments and systems, Security Systems and Farming tools and equipments

9. Mobile App and Site

Since it is a cloud aquafarming platform, the future interface of the site would look like a computer game. This will promote ease of access for the users. Unlike the present investment scheme in which the user or investor fund the entire platform, new features will be added such as the option to choose the type of product to farm.

10. Foundation

Brox Fish Farm Foundation will focus on researches and drives to revive and preserve nature. 

11. Honesty University

Online cloudsourcing, tons if ICOs, cloudmining sites and even bitcoin are tarnished by some individuals with not so honest intentions. Brox Fish Farm may be known as the first virtual aquaculture platform but as its number one core value is Honesty, the organization’s real product is Honesty. One and the most important foundation of Brox Fish Farm will be an academy which will be called Honesty University. This will train and test people on different aspects of the core value. The future CEO needs to undergo and pass the academy’s intensive trainings and tests. The founder wants to give up his position as CEO the soonest possible time. It is very important that the next CEO will be a trustworthy person to protect the organization and maintain its trust status.

12. Hackatons

Hackathons will also be sponsored to further improve the technology, features and security of the platform.


Brox Fish Farm as a Cryptocurrency

There are 100,000,000 tokens or coins initially issued. Five million tokens will be released on pre-sale as the funds to be used in the initial development projects and research. The price of the pre-sale will be 0.000005 BTC for each token. The value of the pre-sale token was chosen to approximate PHP 1.00. Each token will also represent 1 share of stock when the incorporation is finalized. On the Initial Coin Offering (ICO), 20,000,000 tokens will be released and will be priced double of the pre-sale price or approximately 0.00001 BTC. The currency is riding on the Waves DEX platform. Waves DEX is a decentralized exchange of cryptocurrency. The platform supports wallet and exchange for the popular coins such as bitcoin, recently etherium, FIAT such as USD and Euro, its own currency: Waves and all the currencies or tokens issued within the platform such as Mobile Go, Bowhead and Brox Fish Farm.


Equity 

To comply with 60/40 percentage ownership of Filipino companies, the coins released will represent the 40% shares of stocks as foreign ownership. The 60% equity will be owned by the Filipino founding team, collaborators and advisory group. Once the incorporation is completed, investors may register and exchange their coins for stock certificate. When a coin-holder or investor of the assumed foreign owned coin was verified to be a Filipino, coins will be released equivalent to the hole in the 40% foreign ownership at the current market price or the guaranteed price; whichever is higher. It is the discretion of the coin-holder to trade her/his coins at the lower price during non-profit period. However, when a farming cycle is completed and the profit sharing comes, the guaranteed price will still be the buying price.



Secondary Coins Offering (SCO) for every project 

Every public coin offering, the value of coins will be 50% increment of the previous public offering to ensure the appreciation of its value. However, when the present value of the coin is higher than the increment due to the integrated profit, the present value shall prevail.


ROI and Profit Sharing

Instead of providing the token holders with percentage of the profit, percentage of the profit will be added to organization’s asset which will be the baseline of the guaranteed price of the token. Twenty percent or higher as determined by the board will be posted as buying for Bitcoin (BTC) in the Waves DEX decentralized exchange. This will be the avenue for cashing out of profit for the investing coin-holders. This will also serve as an exit plan for the investors. Once the posted buying amount runs out, the coin-holder will wait for the next harvest in order to cash out. However, they are not restricted to post a sell of their coins in the waves DEX decentralized exchange to cash out. The exchange will act as a stock market for the company’s asset. This payout scheme will continue while the IT infrastructure is still in development. Upon the completion of the IT infrastructure, more flexible options in payout will be available.


Coin’s Current Value 

The average trading price will dictate the current value of the token. When the trading price is lower than the value of the guaranteed price, the guaranteed price will be the basis of the coins to be bought from the investors during profit sharing or end of farming cycle.


Miscellaneous Coins Release

When a third party or a joint venture are formed with other organizations a certain portion of the issued coins will be released. 


The Team

Brox/Cocoy

Franco B. Roxas

CEO and Founder

Cocoy is currently working as an engineer in the Philippines’ most reputable and largest company, Meralco. His bachelor’s degree is BS Electrical Engineering in Bicol University. He is licensed as a registered electrical engineer. He is now taking his MBA in De Lasalle Araneta University. 


Jay

Frenie P. Enolva

Co-founder and COO

Jay is a very talented person. He took up bachelor educations of Computer Science at Bicol University and Architecture at Sorsogon State College. He is currently working as a staff for Sorsogon’s Vice Governor.


Atachie

Andrian P. De Guzman

Co-founder

Atachie is the founder of Cryptocoins Philippines, a startup which will be catering marketing and exchanges of altcoins in the Philippines. He had his BS Electrical Engineering in Pamantasan ng Lungsod ng Maynila (PLM) and also taking up his MBA in De Lasalle Araneta University 




Nenz

Lap

Papa Melts

Doc Joann

Niña

Aezel

Rob

Mon & Winchele

…and still welcomes new team members