GoodUpdate — March 2023
The GoodUpdate is BACK!
🌍 Welcome to the GoodUpdate, your monthly recap of all the things happening in the GoodDollar ecosystem. We have been SO busy since our last update, and we can’t wait to share everything we’ve been working on with you.
Here’s what’s inside:
- Highlights and Wins
- GoodData Ecosystem Update
- GoodDollar in the Community
- Cause of the Month
- Upcoming Events
- Get Involved Now
Highlights and Wins
🏆 So much has happened in the GoodDollar ecosystem since our last update! Here’s what we’re celebrating this month.
1. GoodDollar has expanded to Celo
It’s official! On March 15, the GoodDollar protocol officially expanded to Celo. This means that all GoodDollar users can now claim G$ daily on both Celo and Fuse.
This expansion has been many months in the making, and we are so proud to see it finally become a reality. The proposal was first presented on Discourse earlier this year and passed with overwhelming support from the community.
Why expand to Celo? Our intention at GoodDollar has always been to be a multichain protocol, so we can expand our impact even further. We are always looking for new opportunities to build dapps and communities for the people we serve globally. Expanding to Celo was a natural first step. Like GoodDollar, Celo’s core mission is to build an open financial system that creates the conditions of prosperity for all. Celo has also invested in empowering developers and communities that bring the power of open finance to underbanked communities in emerging markets. This alignment makes for a great partnership, and we are so excited to have received a 500,000 cUSD grant from The Celo Foundation to make all of this a reality. 400,000 cUSD will be used to deepen the GoodReserve and fund the issuance of G$ to be deployed on Celo. The G$ funds on Celo will be used to support community education initiatives, fund Celo-based dapps and builders, and seed liquidity on Celo. Funds will managed by a committee composed of GoodDollar and Celo community members.
What’s happened so far?
- The proposal [GIP-13] Expansion of GoodDollar protocol on Celo blockchain was presented on Discourse on January 9. The proposal passed.
- The proposal [GIP-14] Activation of G$ UBI Distribution on Celo was presented on February 10. The proposal passed.
- GoodDollar protocol was deployed on the Celo blockchain.
- G$ Liquidity Campaigns were launched on Ubeswap — farm rewards up now.
- The ability to claim G$ UBI was launched on GoodDapp — 6,200 G$ UBI claimers and counting.
- Everything you need to know about GoodDollar on Celo can be found here: GoodDollar is now on Celo!
What’s next?
- Increasing the G$ UBI distribution on Celo: Proposal [GIP 14.1] was presented on March 24 and is currently being voted on, so please join in! Voting will be open until April 7.
- Launch of GoodWallet on Celo: Soon you’ll be able to multi-chain claim from the GoodWallet interface. Stay tuned for launch at the end of the April.
- Take your place in leading GoodDollar community members to sit on the committee that oversees distribution of funds from The Celo Foundation grant. Stay tuned for details on how to apply.
In the first week, almost 6,975 users have claimed G$ on Celo. Thank you to The Celo Foundation and to all members of the community and core team who made this possible!
Learn more about GoodDollar on Celo, including how to claim and how to build 🪙
2. We launched GoodDapp
At the end of February, we officially launched the GoodDapp. GoodDapp replaces GoodSwap.
With GoodDapp, you can interact with all features of the GoodDollar protocol, like:
- Claiming G$ daily
- Issuing G$ directly from the GoodReserve on Mainnet
- Staking G$ to support GoodDollar and earn GOOD rewards, the governance token to vote on the GoodDAO
More features coming soon, including the launch of G$ savings rewards. Keep an eye on our socials to be the first to know.
3. GoodDollar V3 Protocol Enhancements
In December, the GoodDAO approved the latest protocol update, GoodDollar V3, with 255 votes, the highest number of voters ever.
Protocol enhancements were first proposed on Discourse in November, 2022. The changes were designed to:
- encourage usage and engagement among active G$ holders and community members
- reduce the rate of leverage of the currency, to encourage sustainable growth with minimal price volatility
- lay the groundwork for the GoodDollar protocol to begin to fund community-led initiatives
- allocate 20% of the daily G$ UBI mint towards savings rewards and a community fund: savings rewards (10% of daily UBI mint) and a GoodDAO community fund (10%).
- impact the rate of GoodDollar minting. The number of GoodDollars minted and distributed daily will decrease; the daily G$ claim amount per user will also decrease; however, these modifications are in service of creating a more sustainable economic policy for GoodDollar for its long-term future
- be developed, activated, and implemented over the period of November 2022 through Q1 2023, as per the larger V3 roadmap 13
4. G$ can be used to buy NFTs on the Artrific marketplace
In January, we announced that you can now use your G$ to buy NFTs on the Artrific marketplace. For every NFT purchased with G$, 5% of the amount paid by the buyer will go directly to fund more Crypto UBI.
5. GoodDollar was awarded funding from DAO Drops
We are so excited to share that GoodDollar earned 304 points ($9,199) from DAO Drops Round 1. DAO Drops is a retroactive public goods funding campaign built by dOrg and supported by the Ethereum Foundation. Round 1 distributed $250k to 57 different projects, including GoodDollar. Thank you to everyone who voted for us to receive this funding, which will directly help us achieve our mission to fund free money as a public good.
GoodData Ecosystem Update
🔢 Since the last GoodUpdate in July 2022, 145,128 unique claimers have made 276,822 transactions on GoodDollar totaling $626,835.50! This includes 50,016 new users who joined since our last update.
Since the start of 2023, 85,098 unique claimers have made 107,376 transactions on GoodDollar totaling $164,600.55, including 10,435 new users.
Here are the latest numbers for March 2023:
March Unique Claimers: 62,698
March Transactions: 32,811 transactions, totaling $ 50,064.11
March Top Claiming Countries:
- Bangladesh
- Indonesia
- Nigeria
- Vietnam
- India
- Brazil
GoodDollar in the Community
👐 On March 30, our team members Dorit and Hadar joined the eToro team in Tel Aviv to pack food for the hungry at Pesia’s Kitchen. Pesia’s Kitchen fights hunger in Israel by rescuing food and distributing it to the people who need it most.
It’s not just the community in Israel that’s getting involved with this great cause. Anyone can donate G$ to help from wherever you are! Every 0.30 USD = 1 meal for the cause. If 5 people claim G$ for a week, that’s 0.35 cents, which means that for every 5 people that click to claim G$ for 7 days, the community can feed 1 more person in need.
Cause of the Month
🔥 GoodDollar Brazil is collaborating with Assoc. Núcleo De Educação Comunitária do Coroadinho (NEDUC) to raise funds to provide cooking gas for families in Coroadinho, the 8th biggest favela in Brazil. The goal is to raise 252943.17G$!💪
Donate your G$ here to support the cause.
Upcoming Events
📅 There’s always something going on in the GoodDollar ecosystem! Add these upcoming events to your calendar.
- April 13: GoodDollar Community Call on Discord at 2:00 GMT.
- April 27: GoodDollar Community Call on Discord at 2:00 GMT.
- April 25–27: Meet GoodDollar at Consensus. We’ll be at Celo’s ReFi house and the main event. More details to come on our socials.
- April is Financial Literacy Month! Stay tuned for how GoodDollar plans to celebrate.
Get Involved Now
🚀 Feeling inspired by the GoodUpdate and eager to get involved? You can start right now!
- Claim G$ with the GoodDapp
- Donate to a GoodDollar cause
- Join the conversation on Discord
- Vote on the GoodDAO’s latest proposal by April 7
