Designed as a new, more flexible way to finance our farmers' projects, they started on the Ethereum Blockchain. However, since our recent integration in CELO, they are now available on this impact ecosystem.
At the end of last March, we announced to the entire EthicHub community our new product to generate social impact. This product was originally developed during ETHLisbon’s Hackathon, where the EthicHub team took on a prize for their idea. These bonds - called MiniMice - could be minted directly on the platform, using DAI. The three possibilities that Ethichubbers were able to choose from on Ethereum were the following:
The same are now available on CELO!
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Users can choose the amount of DAI or cUSD - depending on the chosen Blockchain - they want to invest and the maturity time of the bond. Each maturity has a respective APY, the longer the maturity the higher the APY. The design novelty of the MiniMice Bond is that the investment is directly collateralized with our ethix token, in an amount much higher than the face value of the bond. In the event of loan default, a user would be able to claim the overcollateralized Ethix present in their NFT and as such makes an interesting profit. However, we hope this won’t happen any time soon :)
As expected, the collateral present in the repayment of the first MiniMice Bonds was left intact. We can say very proudly that we have completed the first full cycle of the bonds with a resounding success. Thanks to all ethichubbers, pioneers in trying out this new form of financing.
Last but not least, bond holders have an added bonus to their investment that we are very excited about. These bonds, created in an NFT format, are available to investors as a nice souvenir of their investment, but also as a tangible token of support and contribution to the value proposition we are building around here. These NFTs have been put to use in the real and productive economy to finance farmers and grow spectacular specialty coffee.
Here is some information that may be of interest to you:
Bond Contract Contract Address:
0x21320683556BB718c8909080489F598120C554D9
Decimals: 0 (zero). This data will be requested by your wallet when you want to import the token.
Link to OpenSea to visualize the MiniMice Bonds
EthicHub is a ReFi (Regenerative Finance) protocol that helps unbanked farmers access capital at low interest rates in a win/win model where all stakeholders benefit from the interaction. Its crowdlending platform was launched in June 2018, and to date (January 2023) it has brokered more than $3M in microcredits to more than 600 families in 5 countries.
