What is EthicHub? EthicHub (ETHIX) is a Blockchain project that enables non-banked farmers to access capital at low interest. Koindeks.com In this article, we answered the questions of what is EthicHub, what it offers, what is ETHIX, what it does, and how to get it. Let’s examine together this project, which has focused on the field of regenerative finance (ReFi).
What is EthicHub?
EthicHub helps unbanked farmers access capital at low interest rates. It works as a ReFi (regenerative finance) protocol for this. Besides being launched in 2018, it also uses Blockchain technology. As of May 10, 2022, the project has mediated more than $2 million in loans. It also helps more than 1250 families in 21 communities. However, the project has financed over 350 projects in the last 4 years. This number continues to increase day by day.
EthicHub connects small farmers with the financing needed to cultivate their land and sell their produce directly to markets. They aim to increase efficiency and build a fairer supply chain segment. By doing this, it aims to harmonize the living standards of these small farmers, who make up a quarter of the world’s population. The project set out with the aim of creating a revolution in the global economy by solving the problems of farmers. For this, it provides loans at very affordable interest rates and marketplaces for the sale of works.
What does EthicHub offer?
EthicHub is a platform built on the Ethereum Blockchain that provides a variety of financial services to farmers. We mentioned that the platform provides funds to farmers at affordable interest rates. Accordingly, the default rate that EthicHub offers for loans to small farmers is between 4% and 5%. The default it offers for the projects it finances is below 1%. In addition, the loans received are recorded through Blockchain technology. This enables farmers to process in a more faithful environment.
Currently, the platform operates in Mexico, Honduras and Brazil. While offering loans to farmers in these countries, it also builds marketplaces. Accordingly, farmers can sell their works to EthicHub’s markets. In addition, they can easily transport their works with the supply chain agreements provided by the project. However, the loans offered by the platform are through crowdfunding. Accordingly, a user in any part of the world can give his own money to farmers as a loan.
What is ETHIX? What’s the use?
ETHIX is the native cryptocurrency of the EthicHub ecosystem. This is basically an Ethereum-based ERC-20 token. However, there are also versions created in smart contracts of various Blockchains such as BEP-20. It basically serves as a reward token inside EthicHub. Users are rewarded with ETHIX tokens for securing loans. In addition to rewards, ETHIX is also available for staking and governance.
What is EthicHub? How to get ETHIX?
Investors who want to buy ETHIX must be a member of a cryptocurrency exchange that lists the token. After that, investors should deposit an asset in their wallet that matches the pairs of the cryptocurrency. After doing these processes, they can buy the token depending on their balance.