About GoodDollar
GoodDollar is a social-impact protocol that utilizes decentralized finance to create and distribute a global crypto Universal Basic Income (UBI). Its mission is to empower individuals with mobile access to experience, learn, and utilize digital currency, thereby promoting wealth distribution and providing returns for social investors.
The currency, represented by G$, operates on a reserve-backed model, guided by supply policies based on the AMM Bancor Formula. This formula determines the G$ price according to a reserve ratio policy, generating supply in response to demand from buyers, holders, merchants, and liquidity providers. Additionally, it offers the opportunity for these participants to receive cash back from the reserve under specified contract policies.
GoodDollar aims to foster a sustainable UBI ecosystem by encouraging DeFi investors to stake a portion of their assets into GoodDollar Trust Funds. These smart contracts consolidate yields generated from deposits in third-party DeFi protocols, such as Compound and Aave. The proceeds are then funneled into the GoodDollar Reserve contract, optimizing the use of funds to produce G$ and distribute it equally to all eligible UBI claimers.
This approach ensures that the UBI is supported by tangible value rather than relying solely on inflationary measures. By leveraging decentralized finance, GoodDollar aspires to create a robust economic framework that benefits individuals globally, promoting financial inclusion and social equity.