The month of June was challenging for everyone, but thanks to Egoras amazing community, June delivered accomplishments. It was a remarkable month for Egoras, despite the challenges. So, as we start the month of July and we all look forward to what’s ahead, let’s review some of the most significant developments for Egoras Protocol over the past 30days.
We successfully completed a strategic funding round. A total of $2.1 million was raised, led by Exnet Capital, and were joined by VBC Ventures, JunCapital, Buidlhodl, Three M capital, Resurgence Capital, and Blackdragon. …
We’re delighted to announce that we are collaborating with ICO Pantera group, a leading Korea’s growth accelerator. ICO Pantera group have worked as a marketing group for top exchanges such as OKEX and Kucoin and has created marketing and other collaborations for dozens of projects.
Korea has long been one of the most active markets in the cryptocurrency space and has taken on even greater relevance as the Defi revolution continues to evolve. Egoras needs to have a strong Korean presence, and ICO Pantera is the best partner for that. …
XendCredit and Propoor agents are integrated with Sterling Bank of Nigeria to enable a closed-loop credit, payment and repayment system through mobile phones that enables traders to grow their inventory, increase revenue and build a credit history. XendCredit will utilise Egoras microcredit protocol to issue micro-credit to creditworthy micro-businesses who were enrolled by Propoor for government-backed loans through the Bank of Industry, Nigeria.
Egoras protocol aims to address issues facing microfinance sectors…
Yellow Road is a thriving platform and we are back with yet another great IDO for our community members. We are excited to announce that Yellow Road will be conducting the IDO of a single coin farming via staking by Egoras.
Egoras microfinance protocol provides uncollateralized micro-credit to small entrepreneurs and enterprises who cannot take shelter from banks for banking and other services.
The IDO of Egoras is scheduled to happen on May 24th, 2021, If you are interested in getting an IDO allocation of Egoras, you must fulfil the whitelisting requirements.
Every Yellow Road community member will get an…
Egoras has successfully completed a strategic funding round. A total of $2.1 million was raised, led by Exnet Capital, and were joined by VBC Ventures, JunCapital, Buidlhodl, Three M capital, Resurgence Capital, and Blackdragon. Other backers were Chaos Capital, Aussie Capital, and Everse Capital.
By having these strategic investors onboard, Egoras will leverage key industry leaders to help navigate the protocol through its initial bootstrapping phase. Furthermore, the strategic investors were chosen specifically for their network and expertise in Traditional Finance, as Egoras works towards the launch of its protocol. There will be an Egoras public sale scheduled for May…
Medium and small enterprises around the globe face a major financing problem due to the collateral issues and limitations of the banking system. Taking out a loan or financing their business becomes next to impossible especially in developing nations where banking facilities are concentrated in a selected few, this is where the defi platform Egoras comes in as a perfect solution.
Defi over the past couple of years has emerged as a growing solution for most of the micro-financing issues through automation and smart contracts. Egoras built on top of the Ethereum network eliminate the core issue with financing i.e…
Decentralized Finance(Defi) has emerged as one of the biggest success stories of the crypto world over the past couple of years as it offers some of the finest automated banking and finance solutions in a decentralized manner. Right from making way for lucrative passive income opportunities to uncollateralized lending and micro-credit for those who cannot access the traditional banking system.
Egoras is one such defi solution making all the right noises in the defi space. After raising $1.3 million in a private funding round the defi lending platform is already turning into a lifesaver for numerous small entrepreneurs and enterprises.
Egoras, as we already know is a non-collateralized micro-finance organisation bent on giving financial support to small and medium scale businesses that out of fear of refusal do not want to take shelter from banks. Since its inception, egoras has the experience and upward movement in terms of growth as seen on the chart below
Microcredit is also known as “microlending” or “microloan.” involves an extremely small loan given to an individual to help them become self-employed or grow a small business.
Microcredit is good for lenders too. Although the risk of the borrower defaulting on the loan is relatively high, this is accounted for through higher interest rates, especially for high-risk borrowers.
This means business owners with poor creditworthiness can still access the funds they need, but at interest rates that mean, it is worthwhile for investors to lend to them — a mutually beneficial scenario for all involved parties.
Microlending organizations facilitate small…
Egoras microfinance protocol provides uncollateralised micro-credit denominated in EUSD to small entrepreneurs and enterprises who cannot take shelter from banks. Egoras token holders assess the creditworthiness of the loans, and they earn attractive APY for their activities. Egoras is actively following the path of true decentralization putting control in the hands of the community.
While much of DeFi’s present success has been built on collateralized lending, uncollateralized lending is rightly the next step for Defi. Uncollateralized lending provides an opportunity to take Defi mainstream.
Why are we building Egoras?
It was thought that the advent of microfinance in the 1970s and…
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