Fishfactory Protocol: Digest — 001 on Protocol Experimental fishfarm.
- By Josh Erhiga
Goosebumps filled our skin as we realized a total sale of 1,000,400 NGN at our experimental farm today.
It was late February, 2021 that our developmental team had deliberately decided to run a small experimental inventory farm for the protocol, just to ascertain our surveys and researches regarding the blockchain and business merger project: Fishfactory Protocol.
Our team of personnels were just very few, comprising of Mr. JOSH Erhiga E. (LeadDev — Qnode Protocol, founder & Farmer Fishfactory Protocol), Mr. BRYTE Ejomafuvwe (fullstack Developer — Qnode/Fishfactory Protocol), and Mrs. Lawrenta Erakpoweri (Farm Accounts Inventory — Fishfactory Protocol).
In late March 2021, a landed property was rented and the farm infastructure was set with 2 Mobile Ponds (a 10ft by 10ft Pond and 18ft by 9ft Pond). After a month interval 2 extra 18ft by 9ft ponds were added. The capacity of these ponds can handle 7,000 –10,000 fingerlings unto adults stage. But we had stocked only 2,200 fingerlings on April 4th, and 5,500 on May 9th, 2021. Averagely, 7,000 fingerlings + 700 mortality was in stock in the 2 batches.
How we came about Sales on Saturday 24th, July 2021 & Raked 1 Million Naira ($2,432.80) on test farm in 3months.
📌 Batch A fishes was reared with lots of irregularities arising from acidic to alkalined water sources, bad draining system. These impacted on the growth rate of the 2,200 stock with high mortality and batch A fish was subdivided into two divisions due to non-uniform fish sizes:
- 371 KG of Batch A bigger fishes was sold at 830 NGN/KG = 307,900 NGN.
- 214 KG of Batch A fishes, sold at 750 NGN/KG = 160,500 NGN.
Batch A Total Sold = 468,400 NGN
📌 Batch B fishes was reared with good water bolehole correction with recommended PH value of 6.9 — 7.0 but had issues with overcrowding, and moderate mortality. The growth rate was moderate and uniformed for the period of 11 weeks. They were packed for sale not as adults barbeque catfishes but as smoked medium range catfishes by just 2 interstate wholesalers.
- 760 KG of Batch B medium range fishes were sold at 700 NGN/KG = 532,000 NGN
Batch A & B summed to a total of 1,000,400 NGN (averagely $2,432.80 at standard rate). And about 600,000 NGN had been spent on feeds on both batch stock.
Wholesalers, Scaling stand and protocol workers
LeadDev and Farmer at work during sales
HOW LUCRATIVE IS FISHFACTORY PROTOCOL PURSUIT?
This is a mind boggling question 😄, it took only 12 buyers to clear over 7,000 catfish stock in just 4hours and many could not have fish to buy. This is why the protocol want to contribute in solving food deficit via catfish farming in rearing 1–10 million catfishes on annual basis. And this will generate hundreds and thousands of man hours at the factory farms when launched with a target of enabling 1000 bfi-jobs.
The Protocol shall run a business model for angel investors who do not have the resources (time, experience, space), except for the financial resources to rear catfish from fingerlings to adults harvest.
BFI Fishfactory Protocol had acquired over 5Acres of landed property for it gigantic farm factory. Launch of the protocol is scheduled for Q4,2021.
Read Whitepaper here:
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