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The largest crypto universal basic income experiment in the world

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GoodDollar Crypto Academy

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Module 20: Staking G$ to earn more G$

As we’ve seen in previous modules, staking in decentralized finance (DeFi) lets you lock your G$ tokens in a smart contract to earn more G$. By staking, you reduce the amount of G$ in circulation, which helps strengthen the GoodDollar system. In return, you receive extra G$ as rewards — similar to earning interest in a bank. Staking is a simple way to generate passive income while staying engaged in the GoodDollar ecosystem.

Why do people stake?

  • To earn rewards or interest
  • To support the security or liquidity of a network
  • To participate in governance decisions
  • To help protocols grow and scale

Current G$ Staking Opportunity on Ubeswap:

GoodDollar has launched a G$ Single Staking Pool on Ubeswap, where you can stake your G$ tokens and start earning more G$ automatically.

How it works:

  • You stake your G$ tokens directly on Ubeswap
  • You begin to earn staking rewards in G$
  • The longer you stake, the more you earn
  • You can unstake anytime, giving you full control

Get Started:

Estimated APR for Ubeswap G$ Staking Pool:

This table illustrates some examples of weekly G$ staking earnings based on a 4.99% APR.

If you want to calculate interest on other amounts, here we provide you with GoodDollar Weekly Interest Calculator

Expand Your Rewards with Liquidity Farming

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In addition to staking, G$ holders have another excellent opportunity to grow their reserves: providing liquidity. There is currently an active farming pool on Ubeswap, one of the leading DEXs on the Celo Network, for the USDGLO/G$ pair.

By providing liquidity to this pair, you not only facilitate the exchange of these assets but can also earn additional rewards. To participate, you must:

Deposit liquidity into Ubeswap’s USDGLO-G$ farm to generate dual rewards with an APR of 75.29%, earning both UBE and G$ tokens.

Direct link to the farm: https://app.ubeswap.org/#/farmv3/0x3D9e27C04076288eBfdC4815b4f6d81b0ED1b341

This is a convenient way to participate more actively in the GoodDollar ecosystem and Celo DeFi while earning attractive returns on your G$!

Conclusion

In summary, the G$ Single Staking Pool on Ubeswap offers a simple way to earn passive income with your G$ tokens. By staking, you automatically accumulate rewards while contributing to the strength and growth of the ecosystem. The process is straightforward and flexible, allowing you to unstake your funds at any time.

Stay tuned for our next updates…

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