5. The Fund Manager
The Fund Manager is a smart contract responsible for several critical processes in the GoodDollar protocol. These include:
- The activation of UBI generation.
- The transfer of interest from the GoodDollar Trust to the GoodDollar Reserve.
- The transfer of funds to the Bridge and onward to the DisCo for distribution to UBI Claimers via the Fuse blockchain.
As with all smart contracts, processes handled by the Fund Manager must be triggered manually. The task of triggering these processes falls to a group of volunteers called Keepers. In exchange for instructing the Fund Manager to execute tasks, these users earn rewards as well as compensation for transaction fees incurred during the process.
In addition to the above tasks handled by the Fund Manager, Keepers can also earn G$ rewards for converting the status of verified users who have not made a claim in the past 14 days from “active” to “inactive”. This function is called “fishing”.
Keepers incur “gas” or blockchain transaction fees in the course of fulfilling their tasks. The protocol compensates them for these, and pays them additional rewards for the work they carry out. Keepers are rewarded according to the following rules:
- 1.When a Keeper performs the “collect interest” function, they are rewarded with newly minted G$s worth the gas fees incurred + 10%:
- 1.For example, if the gas fees for activating the function amount to $200, the user will receive $220 in return for activation.
- 2.Keepers will only be able to “activate” the function when the accumulated interest to be transferred is 4 times greater than the cost of the gas fees that would be incurred in the execution of the transfer.
- 3.If no Keeper has executed the “activate” function for two months, the above limit no longer applies and anyone can execute this task.