GoodDollar Protocol & G$ Token
What is the GoodDollar protocol?
GoodDollar is a multi-chain protocol (a standard enabled by smart contracts) to sustainably create and distribute crypto UBI.
Built on blockchain technology, GoodDollar leverages the power of decentralized finance (DeFI) and token engineering to sustainably mint and distribute basic income tokens (G$) to a worldwide community of users. GoodDollar stands out as a unique project with a mission that goes beyond financial gains. Rooted in a commitment to financial inclusion and wealth redistribution, the GoodDollar token (G$) is underpinned by a set of core design principles that make it both sustainable and a practical approach to delivering a useful universal basic income.
Learn all about it in GoodDollar's White Paper and in the Protocol Documentation.
What is G$ token?
G$ is a digital cryptocurrency that is the utility token that powers the GoodDollar protocol and its ecosystem. G$ token is minted and distributed as UBI, and currently operates on Ethereum, Celo and Fuse. G$ is the #1 ERC-777 token by tx in the world (newer upgrade standard on traditional etc-20 standard) & one of the top 20 ERC-20 tokens in the world by transaction. G$ token address on Celo: 0x62B8B11039FcfE5aB0C56E502b1C372A3d2a9c7A G$ token address on Fuse: 0x495d133B938596C9984d462F007B676bDc57eCEC G$ token address on Ethereum: 0x67C5870b4A41D4Ebef24d2456547A03F1f3e094B
What is G$ token address?
G$ token address on Celo: 0x62B8B11039FcfE5aB0C56E502b1C372A3d2a9c7A G$ token address on Fuse: 0x495d133B938596C9984d462F007B676bDc57eCEC G$ token address on Ethereum: 0x67C5870b4A41D4Ebef24d2456547A03F1f3e094B
What is the GOOD token?
GOOD is the non-transferrable governance token that rules GoodDollar protocol and therefore its economics. It is distributed: 50% to claimers, 25% to Supporters and 25% to G$ stakers. GOOD token is used to vote in GoodDAO governance proposals. GOOD token address on Celo: 0xa9000Aa66903b5E26F88Fa8462739CdCF7956EA6 GOOD token address on Fuse: 0x603B8C0F110E037b51A381CBCacAbb8d6c6E4543 GOOD token address on Ethereum: 0x603b8c0f110e037b51a381cbcacabb8d6c6e4543
What is the GOOD token address?
GOOD token address on Celo: 0xa9000Aa66903b5E26F88Fa8462739CdCF7956EA6 GOOD token address on Fuse: 0x603B8C0F110E037b51A381CBCacAbb8d6c6E4543 GOOD token address on Ethereum: 0x603b8c0f110e037b51a381cbcacabb8d6c6e4543
What is the GoodDAO?
The GoodDAO is the governance protocol that governs the GoodDollar protocol, and empowers community members to take an active role in determining its future: shaping GoodDollar’s destiny as it seeks to create free money as a public good for all.
In the GoodDAO, all GoodDollar community members have the chance to play a more active role! All GoodDAO decisions are meant to maintain a protocol capable of generating, financing, sustaining and distributing a digital basic income in the form of the G$ token to claimers all over the world.
What networks does GoodDollar operate on?
The GoodDollar protocol is multi-chain by nature: all core protocol contracts related to the creation of G$ token occur on Ethereum mainnet, and all distribution of G$ tokens as UBI to end-users happens on L2s or side-chains, which make it practical and accessible for lower-income users. Currently, G$ is distributed as UBI on two sidechains, Celo and Fuse.
Can you explain how the UBI is distributed?
GoodDollar’s UBI distribution mechanism is based upon a daily distribution of G$ tokens to all verified members. G$ tokens are minted regularly in accordance to the rules of the protocol. These tokens are then taken and divided between between contracts to be distributed as UBI, or allocated for other ecosystem need. The pool of G$ universal income is divided equally among all users who log in within a 24-hour period to make a claim. This mechanism encourages the flow of G$ to those who exhibit the greatest appetite for it. The enforced 24-hour gap between claims and the periodic requirement to re-validate identity creates a natural filtering method, referred to as “Proof of Need”.
How does GoodDollar maintain the principle of one person, one UBI?
Sybil resistance is a term used in computer security and distributed systems to describe a system's ability to resist attacks from a single entity creating multiple fake identities, known as Sybil identities.
GoodDollar’s sybil-resisitance solution is based upon each member verifying themselves and their associated EVM-wallet as an address associated with a unique, live member. This a crucial component that ensures the fair distribution of G$ while preventing individuals from registering multiple times.
GoodDollar utilizes face verification and liveness testing through Facetec’s Zoom 3D technology. FaceTec is the first and only **face authenticator certified to Level 1 & 2 in the the i Beta/NIST (More here)
GoodDollar maintains an anonymized dataset of facemaps for all registrants, continuously striving to confirm the uniqueness of each newly submitted face against this repository. All this data is stored anonymously, without any linkage to the GoodDollar user profile, blockchain address, or internal records.
Can I exchange G$ for other currencies?
Yes, you can exchange your G$ for other currencies on different DEXes on Celo and Fuse Network. You also have access to swap through GoodDapp.
Where can I buy, sell or swap G$?
To date, G$ is listed on Decentralized Exchanges (aka DEXes), where you can buy, sell, or swap your G$.
On Celo, you can exchange your G$ on Uniswap, and on Fuse, on Voltatge.finance.
Exchanging on other DEXes is also possible but depends on the liquidity provided by DeFi users.
Where can I see more technical documentation?
In GoodDollar’s docs and also on GoodDollar’s Github repository.
What is the G$ token price?
G$ is a digital token that has a real price in USD. The live price of GoodDollar, circulating supply, and the value of can be found on the GoodDollar dashboard.
Are there a fixed number of G$?
GoodDollar is a fixed supply currency with the total number of G$ coins to be minted set at 2.2 trillion. All G$ are minted by the GoodDollar Reserve. You can check the current G$ supply here.
Can I stake my G$?
In the GoodDapp, you have the opportunity to stake your G$s on the Fuse Network. As a reward, you'll earn GOODs, the non-transferrable governance token of our GoodDAO.
Soon you will be able to stake your G$ to earn more G$!
How can I provide G$ liquidity?
If you are interested in learning more about GoodDollar liquidity, including how to provide liquidity, please click here.
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