An introduction to the key components and users in the GoodDollar protocol V3.
GoodDollar V3 is a smart contract upgrade that enables core functions for the GoodDollar protocol to scale.
GoodDollar protocol’s mission is to issue a sustainable crypto universal basic income, as a public good, that members are able to use G$ as a medium of exchange.
All proposed changes are 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 GoodDAO to begin to propose, lead and fund community-led initiatives
- V3 eliminates G$ Staking APY Rewards for Mainnet Stakers
- The Speed of Annual G$ Minting/Issuance has been reduced by the passing of Protocol V3: Reserves Ratio Decline from 20% → 15% annually
- V3 also allocate 10% of the daily G$ UBI mint towards savings rewards and another 10% of the daily G$ UBI mint to fund a GoodDAO controlled community fund.
- Expand G$ token and protocol to Celo blockchain
- Stake your stablecoins using GoodDollar Trust
- Automatically donate your yield towards UBI
- Increase your voting power by claiming your GOOD tokens
- 10% of the daily UBI mint is directed to the community fund
- Submit your proposal to the GoodDAO for funding
- If it passes, community fund guardians will approve the transaction and fund your proposal.