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Protocol V3 Documentation

An introduction to the key components and users in the GoodDollar protocol V3. This is the current version of the GoodDollar smart contracts.
Notice of Potential Information Variability
As of December 21, 2023, the information in GoodDocs may not reflect the most current updates. The team is diligently working to review and revise the documentation to ensure accuracy. Please check back at a later date for the most up-to-date information.

Intro

GoodDollar V3 is a smart contract upgrade that enables core functions for the GoodDollar protocol to scale.
This blog post provides an overview of what V3 does and why it matters to you and the world.
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

What you can do in V3:

Stake for GoodDollar UBI and earn Governance Tokens (GOOD)

  • Stake your stablecoins using GoodDollar Trust
  • Automatically donate your yield towards UBI
  • Increase your voting power by claiming your GOOD tokens

Stake GoodDollars through Savings for rewards

  • Swap any ERC-20 token in exchange for G$
  • Earn G$ by staking in the Savings contract

Submit proposals and get them funded via GoodDAO

  • 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.

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