Ecorates was an alternative currency system designed by EYFA to give people with different living standards equal access to events and subscriptions. The aim of the Ecorate system was to enable EYFA and other organisations concerned about economic inequalities between countries, to use a fair exchange rate when calculating participation fees, magazine subscription costs, etc. It was an alternative ‘currency’ based on the actual cost of living in each country.
The Ecorate system tried to create alternative frameworks for economic relations. It was based on solidarity, not profit. Ecorates was a small way to empower ourselves by creating mechanisms to include social factors in financial calculations.
The Ecorate system was fully grassroots and participatory. EYFA organised researching the rates, rather than using official institutional data. This was one of the most important characteristics of the system. A survey was circulated amongst the network to collect information about the cost of life in each country, which was subsequently used to calculate the Ecorates and the value of the eco for each country.
EYFA stopped updating and calculating the Ecorate in 2008.