Project Spotlight: GoodDollar(G$)- the world’s largest universal basic income(UBI) community.
Visit Ubeswap to check out the new g$/mcusd farm (launching at noon PST on Thurs 2/16) as well as the g$/cusd and g$/celo pools! Note the ‘Project Spotlight’ is an Ubeswap community initiative and the GoodDollar team is primarily responsible for the information contained in this article. The information in this post is for educational purposes only and should not be taken as financial advice.
GoodDollar is a protocol built to deliver free money as a public good, through distributing a daily universal basic income in G$ token to anyone who wants it. Its mission is to enable a sustainable solution for money to flow freely to the people who need it most…where it will be used most productively as a digital peer-to-peer currency. GoodDollar has grown to become the world’s largest universal basic income community, with 50,000 people around the globe claiming G$ daily and using it as a peer-to-peer currency, generating a 7x money multiplier effect on money distributed.
Q&A w/GoodDollar:
Why did you decide to build on Celo?
GoodDollar and Celo share mission alignment, that open blockchain networks are their most impactful when solving the big problems of our society: there are over 1.7 billion unbanked people around the globe, and 5.5 billion are underbanked and underserved by our current financial services industry. GoodDollar and the Celo community are working together to address this through financial education, access, empowerment, and enabling anyone in the world to get GoodDollar UBI.
How is the protocol designed?
The GoodDollar Protocol is a new standard to sustainably fund free money as a public good in G$ token. It does this through the funding and daily issuance of GoodDollars as universal basic income — G$ — is a reserve-backed token that functions as an automated market maker. The protocol offers a flexible, permissionless architecture to support the funding of the GoodDollar reserve, and G$ token is a reserve-backed currency that functions as an automated market maker that issues G$ as new funds are deposited in the reserve.
How can the community help or join?
The Celo Community is the hub for people who believe in blockchain technology’s ability to make a positive social impact. There are multiple ways for Celo ecosystem members to support GoodDollar, through contributing to the liquidity campaigns, integrating G$ into their dapp, or helping to support community education efforts.
How is this token tied to the project? (i.e Does it govern? Is it an accessory?)
G$ token is a reserve-backed token that is the utility token of the GoodDollar protocol: it is issued and distributed as universal basic income and used by the protocol to support the sustainable growth of the GoodDollar UBI ecosystem. Note that the G$ token is free-floating, meaning it is not designed to track the value of the U.S. Dollar, making it is a truly digital-native community currency.
All price and circulating supply data can be found on the dashboard: https://dashboard.gooddollar.org/
Roadmap
GoodDollar is a multi-chain protocol that is deploying on Celo with the ability to claim G$ UBI on Celo. The GoodDollar roadmap is focused on driving user acquisition and adoption on Celo, enabling other projects and dapps to access GoodDollar’s member network and integrate the protocol, and enhance G$’s utility in other Celo-based dapps. The next key roadmap goals are:
- Deploy G$ protocol on Celo
- Onboard 40,000 new members claiming G$ UBI on Celo
- Integrate G$ as a payment token in 20 Celo-based dApps
- Fund 20 micro-entrepreneurs that are building businesses based on G$
https://www.notion.so/gooddollar/Public-Roadmap-95063a5676144285ae203de0d40e20f8
Team
The original build and core operations of GoodDollar are funded by 100% corporate donations and are sponsored by eToro as part of their corporate social responsibility efforts. The project's original founder is Yoni Assia, the founder, and CEO of eToro, who assembled a leadership team of builders and entrepreneurs to build out GoodDollar protocol as a crypto UBI project that was 100% mission-driven. Its mission is to advance financial education and empowerment through Web3, enabling money to flow efficiently to people and places around the world that need financial opportunities.
As such, the core team is a group of long-time, mission-driven crypto builders: the core leadership that has built, and launched the GoodDollar protocol (from the date the protocol white paper was conceived and published) is the core team members that are today working on GoodDollar full-time (plus!), building out the DAO with the community.
Token Information
Token Supply: https://dashboard.gooddollar.org/
Token Distribution Schedule: https://dashboard.gooddollar.org/
Token G$ on Celo Contract: 0x62B8B11039FcfE5aB0C56E502b1C372A3d2a9c7A
Initial Ubeswap Pools and Rewards
G$ /mcUSD pair: https://explorer.celo.org/mainnet/address/0x07F86B39728Be613062bc7413FC2CA7293Eef022
UBEv2 farm rewards will start out at 1% of weekly rewards emissions (81750 UBE/wk), so it’s about $20 of rewards per week, and then that can increase according to the popularity (volume + TVL) of the G$ pool relative to other pools. The UBEv2 rewards are determined programmatically since the community governance vote #7 passed.
G$/cUSD pair: https://explorer.celo.org/mainnet/address/0x31f9DeE850B4284b81B52b25a3194F2FC8fF18CF
G$/CELO pair: https://explorer.celo.org/mainnet/address/0x25878951ae130014E827e6f54fd3B4CCa057a7e8
GoodDollar Contact Info
GoodDollar Disclaimer: DeFi comes with inherent risks and GoodDollar advises all users and stakeholders to do their own research before participating in any swaps or pools. We strongly suggest users only add or swap liquidity, that they can afford to lose. The views expressed in this post are not financial advice.
