6. The Distribution Contract (DisCo)

Key Terms

Daily reward: The amount of G$ a verified user can claim in a 24-hour period.

Verified user: A user verified as real and unique.

Active user: A verified user who has claimed at least once in the last 2 weeks.

Epoch: The DisCo operates according to a three-month cycle known as an “epoch” (N.B. the duration of this cycle can be changed by the GoodDAO). The DisCo will initiate a new epoch before the cycle is completed if it has accepted 30% or more than the current pool left to distribute and the pool is now 80% or more of the total value of the pool at the start of the last epoch.

Identity Contract: A smart contract on Fuse that holds a list of all members of the GoodDollar ecosystem who are verified as real and unique. The DisCo draws upon this for distribution.

How the DiscCo works

The DisCo, or Distribution Contract, is a smart contract that handles the distribution of G$ to all white-listed addresses (i.e. addresses verified as belonging to real and unique people in the GoodDollar ecosystem) housed in the Identity Contract. The DisCo is responsible for accepting G$ from elsewhere in the system and distributing this to all verified active users who have clicked “claim” in the GoodDollar Wallet app within the preceding 24 hours.

The DisCo is also responsible for calculating daily rewards, according to the below calculation: Daily rewards = (G$ in DisCo / days remaining in an epoch) / Active users)