How is G$ being utilized, and by whom?
As of the current date (September 2023), a total of 624,100 individuals from 180 different countries have claimed G$.
- Today, G$ 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. https://dune.com/ilemi/erc-and-eip-starter-kit
- GoodDollar is one of the top most used protocols in the world and by far the top protocol by usage on the sidechains where it is deployed. It attracts 110,000 weekly active users on Celo, and over 100,000 monthly users on Fuse.
Based on extensive data and surveys conducted by the GoodDollar team, we have uncovered several key insights on who these people are:
- 1.Geographic Distribution: Users are spread globally, with a notable presence in emerging markets, accounting for 67% of the user base.
- 2.Income Levels: A significant portion, 43%, of these users belong to households with annual incomes of less than $5,000.
- 3.Entrepreneurial Aspirations: Approximately 30% of our users are aspiring entrepreneurs, displaying an entrepreneurial spirit and a desire to uplift their financial status.
- 4.Cryptocurrency Perception: An astonishing 100% of our user community recognizes the pivotal role that cryptocurrency plays in their pursuit of financial goals.
The user base is prominently represented by individuals from various countries, with the highest engagement and UBI claim numbers originating from: Vietnam (161.1k), Indonesia (120,4k), Nigeria (96,9k) , India (89,8k) , United States (84,9k), Bangladesh (60k), Brazil (51,7k), Argentina (44,6k), Italy (40,4k), Spain (38,6k) and Taiwan (32,8k).
These statistics highlight the global reach and diverse demographics of the GoodDollar user community, emphasizing the platform's significance in addressing financial needs and aspirations on a worldwide scale.
These are some of the most common uses of G$:
- Digital Peer-to Peer: By leveraging their digital assets as payment tokens in peer-to-peer (P2P) online marketplaces, individuals empower the creation of circular economies within their local communities.
- Airtime and Mobile Minutes Transactions: G$ serves as a means for buying and selling airtime and mobile minutes.
- Community Savings Groups (Tontines): Members are leveraging G$ to establish and manage community savings groups in G$ tokens, akin to tontines, and using G$ savings to deploy on DeFi savings programs and provide liquidity on DEXes.
- Educational Initiatives: G$ is being employed as an educational tool to enlighten individuals about concepts such as circular economies, decentralized finance (DeFi), and renewable finance (RE-FI), contributing to financial literacy.
- Local Commerce: Entrepreneurial users are opening local stores specializing in pre-owned clothing and handcrafted goods, where G$ serves as a medium of exchange.
- Crowdfunding for Non-Profits: G$ is also being employed as a crowdfunding tool to support local non-profit organizations, exemplifying its potential for philanthropic endeavors.
- Swapping for other tokens / on and off ramp: G$ stands as a fully liquid asset, offering the flexibility for instant swaps and cash withdrawals at any given moment.
- Exploring and interacting with Web3 tools: The G$ token has seamlessly integrated with a variety of dApps, enabling users to effortlessly immerse themselves in the realm of Web3 applications. Among the numerous use cases, users are actively engaging in activities such as exploring NFTs, saving through platforms like Halofi, exploring DeFI like adding liquidity among other applications.