Kiva Update for funds contributed through the Raffle

I exchanged 110.5 Erg’s that were crowd sourced by using beta.ergo.raffle.

100.5 were raised through the raffle and 10 were donated by twitter user @ClayrgoNauts

Thank you to everyone who contributed.

The exchange was to USDT and after fee’s the amount is $1937.27

I then sent it to my coinbase account for a fee of 22 USDT = $1915.21 sent

Sold the USDT for $$s for a fee of $28.40 = $1877.81

Sent funds to my bank account with no fee.

$575.00 loaned on Kiva 9-16-21

Please feel free to advise me on what loans on Kiva I should put the rest of the funds towards, I will listen. :blush:


This is awesome ! Let me know when next round is up I want to be part of kiva raffle :slight_smile:


If you are up for it I would love to see a new raffle started, my first was kind of done with a shotgun approach to lending the contributions, I think a refined mission could be successful - and as a Kiva Trustee I could potentially back a new borrower if you were to suggest an organization or person to be funded.
let me know your thoughts.

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Since 9-16-21 I have made 52 loans on the Kiva platform at a total cost of 1,301.97 as I decided to donate a small amount to Kiva so they can continue to facilitate borrowers in obtaining their goals through the Kiva platform the math is going to look a little strange.
This brings the donation’s to $1876.97 that were developed through the Ergo Raffle for the Cardano Community Kiva Initiative.

Owed $1.16 to fulfill my obligations, when I sat down to make this update I believed I had met my obligations, my calc’s were wrong so I will soon be making another loan to ensure all the fund’s gained through the raffle are distributed where they were meant to go.

*Note (edit): Final loan of $25 made on 10-5-2021, all ErgoRaffle proceeds have been lent out on Kiva.

Forward Strategy.
As I work on Ergo–Lend and a similiar solution on Cardano, my thoughts are that as these loans are repaid on Kiva I will transfer them to the blockchain solution I am so excited to see succeed, I will be seeking advice and feedback from the community on just how exactly to distribute these funds and the traceability of them as they were crowdsourced and will be moving from one platform to another.

-if- Ergo-Lend is not succesful than as these Kiva loans are repaid the funds will be reloaned to new borrowers on that platform.


Cross-Posted from Cardano forum:

Seeking feedback.

I have payments being returned on Kiva now and at the same time I am anticipating being capable of using ErgoLend in the next 60 days, should I relend my Kiva credit or should I allow the repayment balance to grow and lend on ErgoLend?

My first loan on ErgoLend is likely be to a Cardano Enthusiast and contributor that is involved in the ABCD project in Nigeria and has partnered with the ErgoLend team to see its success as a microfinance blockchain solution that is multi-platform/crosschain lending solution to solve some of the problems in the world with microfinance that has truly been a hindrance in their country.
With this in mind please advise me on how to move forward, I would like to use the funds for ErgoLend as I have lately learned the average cost to borrowers on the Kiva platform is greater than 30% interest, and I believe the ErgoLend platform will allow for less of a burden on a borrower.

Let me know.