Everything you need to know about xEthix

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You may finally purchase your xEthix (which are Ethix on the xDai network) on our website www.app.ethichub.com with your credit card. In addition, to check your balance of xEthix, you may go in your user profile. 

Using xEthix on the xDai network (the same network used by the Ethichub platform to finance projects), will optimize some of the current Ethix functionalities, such as easy acquisition due to low fees and making payments in a transparent and economical way.

What is the Ethix token?

We are all aware of the Ethix and its crucial importance within the EthicHub ecosystem. Present on the Ethereum blockchain, it has become an impact token that manages to "materialize" trust in our projects. Through Ethix, we have transformed a digital token into real collateral for our investors’ credits. 

The current compensation fund is built upon the Ethix token and was launched with the exact half of all Ethix issued. However, this fund is now larger and more secure as it has been fed a recurring contribution of 4% of the amount of all loans traded on the platform.

The Ethix token has covered our investors in the case where defaults were registered on the platform representing less than 1% of all projects ever conducted with EthicHub. We have managed to generate a sustained demand for a token that "disappears" from the market to "reappear" in the fund in the form of collateral. With this design, our users gradually generate more collateral for investors and presumably new investors, attracted by the collateral offered by the fund. More investors mean a greater volume of loans on the platform to serve more farmers, and also a greater number of Ethix withdrawn from the market to nurture the fund. A positive incentive loop that can only grow and strengthen our impact token.

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xEthix in the xDai blockchain

In an ecosystem as vital as the crypto world, the desire, ideas, and proposals of projects sometimes come up against the limitations associated with the scalability of blockchains. Achieving the solution to the famous trilemma between decentralization-security-scalability is not easy. Yet when there is a problem, there is often an alternative that best fits each proposition. 

Long-time Ethichubbers will remember how not so long ago, the lending platform operated solely on Ethereum, using DAI as a stable coin. However, Ethereum's scalability issues and its high fees requested to operate on the network, made it necessary to look for an ethical solution for our users. This is the reason we migrated to xDai to re-enable many small transactions without exorbitant commissions that prevented us from developing our social impact model. With the xEthix, we will now be able to distribute tokens to our investors without high management costs, create flexible investment incentive tools and buy/sell coffee on our website and coffee shops. This solution was a necessary step to fulfill our ultimate purpose and commitment to the farmers we serve.

How to acquire xEthix?

Today we want to announce that we have launched our Ethix token on the xDai blockchain. The xEthix will have the same value as the Ethix but with more flexibility of use and lower execution costs. What is advantageous here is we all will now be able to buy Ethix using our credit card. This possibility opens, at last, a long-awaited door that remained stuck with our Ethix operating exclusively on Ethereum. This initiative enables us to incorporate new utilities for our token and for the benefit of the entire community of Ethichubbers.

So, from here on out, the possibilities are endless, yet please keep in mind the time and effort it will take us to develop new functionalities. We have always been very open to ideas and constructive criticism from our community, so feel free to add proposals to these first two features we are developing:

  • Possibility to purchase xEthix by credit card in Ethichub’s platform.
  • Visualization of the xEthix balance in Ethichub’s user wallet.
  • Possibility to purchase coffee and other services in our online shop.
  • Purchase of coffee in our coffee shops and events with xEthix.
  • Possibility of obtaining better conditions in loans increasing the profitability of 8% with xEthix for those investors who have a minimum of 10% of the investment in xEthix in their portfolio. 

For Ethichubbers who want to have xEthix we have enabled on our website the possibility of acquiring them directly with your credit/debit card. You only have to register on our platform if you are not an Ethichub investor yet. 

Both the Ethix that operates on Ethereum and the xEthix that operates on xDai are fundamental tokens that align all our various actors’ incentives. So the mere possession of one or the other is already a firm statement of intent to support what we are building together and support our cause to end the poverty cycle unbanked farmers are stuck in. 

Welcome to the EthicHub ecosystem!


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