About GoodDollar Defi
GoodDollar Defi is a people-powered framework to generate, finance, and distribute global basic income via the GoodDollar token (“G$ coin”). Its goal is to provide a baseline standard of living and reduce wealth inequality through the creation of a universal basic income (UBI).
GoodDollar leverages new protocols and smart contracts to deliver a “trickle-up” value structure, which places money in the hands of those who need it most. This is the reverse of the conventional trickle-down approach to capital, credit, and interest-bearing money.
A digital asset that operates within the emerging ecosystem of decentralized and open finance, G$ coin is backed by a monetary reserve of cryptocurrencies and thus has tangible value. G$ coins are liquid and convertible to other cryptocurrencies, and will be available to buy and sell directly via the GoodDollar GoodReserve smart contract.
The value in the GoodDollar Defi reserve comes from the interest that is generated from Supporters who stake cryptocurrencies in decentralized third-party protocols. Through the amassed reserve interest, G$ coins are minted. They are used to pay Supporters market-rate interest payments, while a daily amount of G$ coins is set aside to be distributed as basic income.
Quick Fact About GoodDollar
|DEFI Coin Name||GoodDollar|
|Circulating Supply||1,000G$ = 0.172USD|
|Source Code||Click Here To View Source Code|
|Explorers||Click Here To Visit|
|Twitter Group||Click Here To Visit Telegram Group|
|Documentation||Click Here To View|
|Official Project Website||Click Here To Visit Project Website|
GoodDollar operates on Ethereum using smart contracts that are written in Solidity with G$ designated as an ERC20 token. As a means to an end, transactions using G$ are run on an Ethereum sidechain, Fuse, which enables low-cost, high-volume transactions. As we anticipate that the scalability and efficiency of blockchain infrastructure will continuously improve.
- GoodDollar offers a new standard for creating and distributing basic income via G$ token.
- GoodDollar V2 is a major contract upgrade yet to be deployed
- GoodDollar V1 was initially deployed in August 2020.
- Some Guides have been documented by the community. Feel free to contribute.
- Everything is open-sourced and free to use on Github
Accessibility and ease of use are critical to market adoption. By widely distributing G$ through an accessible process and interface, they increase the odds that the basic income economy is widely adopted and strengthen the case for G$ to become a preferred complementary currency among holders.
- Serves as a visual interface to the protocol core smart contracts on Ethereum mainnet.
- The Dapp enables to stake, buy/sell G$ directly to reserve, and governance functionality.
- The Dapp is 100% open-source, deployed and managed by community stakeholders. You can even deploy your own UI. Here’s the repo
To increase adoption and trust in the system, a simple digital wallet that can be accessed anywhere in the world with an internet connection has been built. The user experience focuses on the key action of “claiming” G$ coins as basic income and conducting peer-to-peer transactions.
The wallet is a mobile-friendly web application built on React with React Native and is open-source, as is all GoodDollar code. The wallet interacts with three main components: The GoodDollar Protocol, Identity solutions for verifying unique identity, Distributed login solutions (initially through the Tor.us platform).
Contributing to GoodDollar
Thank you for your interest in contributing to the GoodDollar. Everyone is welcome: Developers, designers and entrepreneurs with a passion for decentralized technologies and a vision to build a new world that has equality, security, inclusivity and innovation as its cornerstones.
When contributing to this project, please do first discuss the change you wish to make via any communication channel with the community.
The GoodDollar project is distributed across multiple repositories. Please file the issue against the correct repository.
Your contributions to this project, regardless being large or smaller ones, take this initiative a step closer to the ultimate purpose of reducing wealth inequality through blockchain technology. Thank you for taking the time to contribute.