Solid World Partners With Ethic Hub
Solid World is pleased to announce a new partnership with EthicHub, a ReFi protocol that is helping unbanked farmers access capital at low interest rates. Since its inception in 2018, EthicHub has intermediated more than $2M in loans and are helping over 1250 families in 21 communities.
EthicHub’s cornerstone and biggest asset is the crowd-collateral it created with its community. EthicHub’s community who buy the $Ethix token and stake it on behalf of unbanked farmers, enable farmers to attract more investors to invest capital in their projects; whilst giving those same farmers a security in the case of loan default and be able to pay back those capital investors.
Over the last four years, EthicHub has financed more than 340 projects and kept a default rate below 1%, a 0,7% default rate. The global average of loan default for this population is about 4–5%. EthicHub operates in Mexico, Honduras and Brazil and is continuously looking to expand its scope to new markets and continents.
In a statement announcing the partnership, Solid World Core Contributor Teele Tuuling said, “Meeting EthicHub has been super inspirational! Their passion for making a difference in the lives of small farmers is inspiring. EthicHub team is like a family and they help also help farming families in developing countries, financing projects and giving communities better-living standards. In the future, we hope to fund EthicHubs’ carbon projects as well! Thank you so much we are thrilled to announce the partnership with you!”
EthicHub also issued a statement on the partnership, saying that, “Traditional institutions creating carbon credits are very inefficient and we need better alternatives to create and capitalize on carbon credits. The Solid World team has shown great interest in helping our unbanked farmers capitalize on the carbon they help capture. When this solution becomes operative, it will be revolutionary for our farmers as it would create new opportunities for them to generate creative additional forms of revenues while bettering our world.”
Solid World DAO is creating a transparent carbon market that will enable the pre-funding of high-quality sequestration-based carbon projects to help them get off the ground. The platform will also enable the commodification of carbon credits, and provide much-need liquidity to the carbon economy. Solid World will also allow users to trade many different types of pre-purchased carbon credits from agricultural, reforestation, and blue carbon sources.
Join both of our communities and learn more at the links below!
