Filipinos are accommodating and productive people, but sadly, couldn't overcome the macroeconomics of the country that is tied up to its local currency, the Philippine Peso. That’s why most Filipinos choose to leave their family and work abroad as OFW. Aside from the social problems that it causes, OFWs are subject to high remittance fees. Hard earned salary had to be remitted and physically delivered to their family which sometimes creates financial problems through misuse of funds.

This inspired our team to pursue Humidefi. Through Cryptocurrency and Blockchain, Filipinos can manage their finances without having the problem of physically sending and spending. Filipinos will have the ability to be able to take advantage of the many benefits of a decentralize finance application. They will be able to invest in pools, swaps with almost no fees and pay directly anyone anywhere without having to go to the process of remittance.

Aside from ordinary Filipino users and investors of Cryptocurrency, we are also looking at the local developers who could not afford to deploy Web3 applications because they hold only the local currency. Humidefi will unlock their potential and may add to the global pool of Web3 developers in the future.

What it does

Humidefi is a decentralize finance hub for UMI and PHPU. UMI is its native token while PHPU is a collateralized stable coin peg to the Philippine Peso.

As a decentralize finance hub, it enables the users of the application to do the following:

  1. Buy Cryptocurrency – Users will have a the ability to buy UMI and PHPU using facilities like Transak and GCash. GCash is a known e-payment app in the Philippines.
  2. Pay in Cryptocurrency – Users can pay directly anywhere Filipino suppliers of goods and services. They could even pay bills like utilities and other government payments.
  3. Invest with Cryptocurrency – With UMI they can invest in staking pools or even Parachains and Parathreads in the near future. We are also going to create a facility for PHPU to be deposited and loan to users.
  4. Swap between Cryptocurrency – Swapping different currency in the Philippines cost a lot due to Forex fees, with Humidefi, we can do swap with almost no fees.

Humidefi supports Smart Contracts. This enables local developers to leverage their talent in making dApp without having to pay in US Dollars.

How we built it


We will be using Substrate. At the start we will be using a modified Proof-of-Authority (PoA) which rewarded the known validators for authoring a block. We will add Smart Contract support to the Blockchain.

As the network grows we will upgrade the consensus to nominated Proof-of-Stake (nPoS) and activate either Parathread or Parachain support.

Stable Coin (PHPU)

One of the pillars of a decentralize finance application is a stable coin. We will be making a collateralize stable coin peg to the Philippine Pesos. Creating a virtual asset in the Philippines requires investment, hence, we will be partnering with local banks to make this happen.

Applications (UI)

In order for user faster user adaption we will be building UI that can be used in the web and in mobile devices. Our UI will focus on the features and integration to other applications to provide smooth transition process of converting local currency to Cryptocurrency.

We will provide UI for blockchain transparency, e.g., scanner, blockchain monitoring, validator node management, etc. These application is very important to not just the users who wants total transparency but also to developers trying to understand how a Blockchain works.

We are also going to build a stable coin inventory and accounting system, this will empower the virtual asset holder to manage the Cryptocurrency efficiently.


Having a community that supports and uses your Blockchain is paramount to its success. As early as now we are engaged with our local developer partners, friends and colleagues through Discord and other social media platform. We are inviting them to not just as investors and developers but as future validators. We are also active in Polkadot StackExchange and blogs.

We will be engaging in the Substrate Builder Program to guarantee that our Blockchain is ready for Mainnet.

Challenges we ran into


Writing and developing application requires heavy reading of documents, especially if the technology is new and unfamiliar. There is really no accurate documentation as of the moment for Substrate, hence, the development process is slow and painful. So the end-result is a theory-based code which can be hazardous if sent to production. That is why, it is very important for us to be able to join the Substrate Builders Program before we go to Mainnet.


Aside from development and infrastructure cost of developing a decentralize finance application with a virtual asset. The Philippine government requires any virtual asset creator to provide a bond of more than $200,000 before they will give license to engage in economic activities in the country. This is really an entry barrier that we need to face on, our plan to solve this problem is to partner with a local bank. The timing, I think is right, because nowadays banks are starting to look at Cryptocurrency as an opportunity not as a threat.

Accomplishments that we're proud of

Proven Software Development and Entrepreneurial track record

For the last 20+ years, we’ve started companies and sold some using only software products that we built and design locally. Most of our products are Line-of-Business (LOB) software like accounting, payroll, and point-of-sale retail applications. These products are sold locally and sometimes customized to be sold overseas.

Job Creation

Directly and indirectly created jobs locally and help local businesses propel and survive even in times of pandemic. We have accumulated more than 1,000 users for all our sold products and created more than 10,000 jobs (estimate only based on the number of customers that we’ve accumulated over the years), these I think is an accomplishment that we’re most proud of.

What we learned

Change is an equalizer. Web3.0 is an equalizer. And you can do anything if you put your mind to it.

What's next for Humidefi

We will continue with our roadmap to Mainnet. We will engage with the local community of developers and partner with our existing customers and users in order to broaden the scope of adaption of Humidefi.

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