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We are delighted to share with all of you that this year 2021, our financing platform will also reach Honduras to serve new communities of coffee growers as we have already been helping smallholder coffee farmers in Mexico and recently in Brazil.
We want to bring new financing tools at much cheaper and more accessible rates and contribute to socio-economic development.
And we have achieved it with the help of the Cooperativa Cafetalera Diseñadores de Cafés Especiales - CODICAFE, which has become the new originating node that we will have in Honduras. CODICAFE is a company of the Social Sector of the Honduran Economy that is based in El Níspero, Santa Bárbara. Which is made up of coffee producers organized around Savings and Credit Banks in the municipalities of El Níspero, Arada, Gualala, San Nicolás, Santa Bárbara, as well as San Rafael and La Unión in the Department of Lempira.
The president of CODICAFE is Mr. Domingo Rosales Amaya, a new originator Node from Honduras, who recently sent us a video message to thank all the Ethichubbers. Domingo Rosales tells us that "the opportunity to work together with EthicHub will generate a lot of benefit for coffee producers" and that the agreement reached with EthicHub represents an extraordinary opportunity. "With low interest, the producer will achieve a better fertilization plan, a better collection of the grape grain from the coffee trees, an ideal coffee drying ..."
And in conclusion, he points out that "in this way, we will have a higher production and a better profile in a cup; achieving higher income at the end of the harvest." We are also delighted to work with you, Domingo.
In the same way that has happened with the recent opening of the Brazilian market, the project in Honduras will begin with a pilot in which five leading cooperative producers will participate to finance the coffee collection, selection, washing, and coffee drying in 2021.
If you are an Ethixholders, stay tuned to the communications we will launch very soon because you will be able to put your Ethix to endorse Honduran farmers and receive rewards!
You can now stake your Ethix in the new pool open for smallholder coffee farmers in Honduras!
Remember that your Ethix acts as a guarantee in case there is a default. But in return, you get a return for the risk assumed and, most importantly, among all of us, we enable cheap and accessible financing to reach coffee farmers´ communities in Honduras.
The originating node will contribute 20% of the Ethix requested, the auditor another 20%, and the remaining 60% reserved for the Ethixholders.
The total staking amounts to 25,000 Ethix, and we will distribute 60 Ethix per day only to Ethixstakers. Sometimes little contributions have a bigger impact than just a single one.
Participate and join the power of decentralization!
Staking is closed already. Now the farmers from CODICAFE have the collateral and in the coming days, they will be uploading on the EthicHub platform.
Here you can find Domingo's message he left in our Telegram group after seeing that in less than 5 hours the staking was open the pool was fully funded. Thank you to our active Ethixholders.
Thank you very much to the entire community.
I want to give thanks on behalf of the producers of Honduras.
I want to give thanks on behalf of the coffee pickers.
I want to give thanks on behalf of every biker on farms.
I want to give thanks on behalf of every taster in my country.
I want to give thanks on behalf of every sample roaster in my country.
I want to give thanks on behalf of the patiero (the person who dries the coffees) in my country.
I want to give thanks on behalf of every engineer who strives to produce organic matter to lower costs.
On behalf of CAFÉ DE HONDURAS.
🇭🇳☕️
CODICAFE- Domingo Rosales
Soon the projects will be uploaded to the platform in order to finance the needs of farmers in Honduras. Stay tuned as we will notify you through our official EthicHub channels.
The first projects in Honduras with our Originator Node Domingo are already published.
Check out a new community from Honduras, New York, where they need to raise € 3,019 for the humid coffee beneficiary.
The work in wet processing and immediate treatment of the coffee beans once harvested from the tree is of great importance in developing the attributes of coffee internally in the bean.
In October 2021, we inaugurated a pilot project to finance small coffee farmers in Honduras. Domingo Rosales, president of CODICAFE requested 15,000 dollars (USD) to carry out the harvest but did not have assets to guarantee the loans. But there were Ethixholders, in this ecosystem willing to stake their Ethix to guarantee the entry of this new community. 6 Ethixholders covered the required guarantee in just a few hours since its launch, and CODICAFE entered our platform.
During this time, CODICAFE uploaded three projects, achieving the desired funding. Money that has been used to create wealth and excellent specialty coffee.
And best of all, the coffee growers of CODICAFE have honored their commitment by repaying the loan with promised interest. Now we can say that the pilot in Honduras has been a complete success.
... We are at the peak of the harvest. Soon, we will see the ETHIC HUB team on our farms and provide feedback on information, we are small coffee producers. Thank you really and I hope you enjoy the coffee. Don't hesitate to support our communities...
Domingo- Nodo Local, Honduras
We would like to send our recognition to these first guarantors who, besides being aware of the risk they were running, materialized their trust in Domingo and the rest of the coffee growers using the Ethix as an instrument. The loan repayment success has released that guarantee, and as a reward to the assumed risk, they have received more Ethix than they staked at the time. And also special gratitude to the funders, who showed their confidence in Domingo, despite being released on the platform, and there is no historical record of CODICAFE.
We have managed to grant better financing conditions to new farmers, and we have all gained from this interaction. This pilot experience has taught us many things, and we have acquired a very positive experience that will improve future proposals.
Your involvement in the EthicHub ecosystem and the active attitude of Ethixstakers and investors has given birth to a new excellent coffee from Honduras that is now available in our online store. Without you, it would not have been possible.
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 it has brokered more than $4M in microcredits to more than 600 families in 6 countries.
