System's Elements

1. The token (G$)

The GoodDollar token (G$) is an ERC-20, ERC-677, ERC-777 and a pure Supertoken (on celo) crypto token with a max supply of 2.2 trillion. It is native to Ethereum and also operates on Fuse and Celo.

2. The Reserve

The GoodDollar Reserve is the smart contract that governs the vault holding the assets that back G$ tokens. The algorithm that guides the reserve is based on the Bancor formula, which has been altered to fit GoodDollar’s needs. There are two important characteristics unique to the GoodDollar Reserve:

1. The reserve supports the generation of G$. Users can always convert to and from G$ via the reserve.

2. The reserve applies an "exit contribution" to all G$ sold back to the reserve.

3. The unique math of the GoodDollar Reserve lends G$ exceptional stability.

4. Savings rewards

Rewards are fixed at 5% APY.

5. Distribution Manager

The Distribution Manager receives newly created G$ from the Reserve and distributes it.

This component acts as the central allocator of G$ emissions.

6. UBI Contract (UBIScheme)

The UBIScheme is a smart contract that handles the distribution of G$ to all white-listed addresses.

7. Governance (DAO)

The GoodDollar governance model is based on the Compound governance model and code, as set out here. Critical to the process is the GOOD token, a non-transferable token that controls all smart contracts within the GoodDollar ecosystem.