What is EthicHub? EthicHub (ETHIX) is a Blockchain project that enables non-banked farmers to access capital at low interest. cryptocoin.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 this project, which focuses on the field of regenerative finance (ReFi), together.
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 till their land and sell their produce directly to markets. It aims to increase efficiency and build a fairer supply chain industry. By doing this, it aims to improve the living standards of these small farmers, who make up a quarter of the world’s population. The project set out to create a revolution in the global economy by solving the problems faced by farmers. For this, it provides loans at very affordable interest rates and marketplaces for selling products.
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 offered by EthicHub for its loan 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 allows farmers to operate in a safer 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 products to EthicHub’s markets. In addition, they can easily transport their products with the supply chain agreements provided by the project. However, the loans offered by the platform are through crowdfunding. Accordingly, a user anywhere in the world can lend his own money to farmers.
What is ETHIX? What does it do?
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. Alongside rewards like this, 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 currency pairs. After making these transactions, they can purchase the token depending on their balance.
