Centralized Lending App

In June 2018, our initial idea started as a p2p lending platform to connect lenders with farmers. Contrary to traditional crowd-lending platforms, ours works with cryptocurrencies and the utilization of smart contracts.

Users had the choice between creating a non-custodial wallet (Magic) when registering or just connecting their wallet if they are already crypto-users. The centralized Lending App was first launched on Ethereum and worked with DAI (stable coin pegged to the USD dollar). However, due to the high gas costs on ethereum's blockchain, we switched to XDAI chain (Gnosis Chain), a much cheaper alternative both for EthicHub and its users.

Through our Centralized Lending Platform, our users are able to lend xDAI (stable coin equivalent to 1 USD dollar) to finance our farmers’ project after the collateralization process.