What is GoodDollar (G$) | What is GoodDollar token | What is G$ token
What Is UniversalBasic Income*?
Basic income means giving everyone a regular, equal, cash payment, regardless of social standing, wealth, or income.
Defining Characteristics
adapted from Bidadanure, 2019, ‘The Political Theory of Basic Income’
Periodic
It is a recurrent payment (for example every week) rather than a one-off grant
Cash
It is paid in (digital) cash, allowing recipients to convert their benefits into whatever they may like
Universal
It is paid to all, and not targeted to a specific population
Individual
It is paid on an individual basis (vs. household)
Unconditional
It involves no work requirement or sanctions; it is accessible to those in work and out of work, voluntarily or not
Basic Income Now, More Than Ever.
Basic income is a long-standing policy with fresh relevance and urgency, in light of the challenges we face today. In the words of economist Jeremy Rifkin, “Basic income is not a utopia; it’s a practical business plan for the next step of the human journey.”
Basic Income Helps Solve For
Unpaid Care Work
Economic compensation for the unpaid “caring economy”, jobs such as childcare, elder care, or community work
Financial Security
Helps to avoid homelessness, poverty and despair arising from unexpected crises such as health emergency or a global pandemic
Economic Mobility
Instead of scraping by, basic income enables people to begin to save and invest
Mental & Emotional Well Being
Freed from the burden of constant instability, pilots report higher satisfaction and better mental health outcomes
Professional Development
It gives people a floor to stand on and frees them from unfulfilling jobs, enabling them to pursue new skills and education
Real Basic Income Is One Click Away
- Sign up and create a wallet in minutes
- Claim G$ coins with real monetary value every day
- Save G$ coins or send to friends and contacts
How To Use GoodDollars
How Staking With GoodDollar Works
FAQ
General & Privacy
Q: What is GoodDollar?
GoodDollar.org is a non-profit organization on a mission to leverage new blockchain technologies to deliver a scalable, sustainable model to deliver basic income. GoodDollar has built a wallet that enables any human with an internet connection to sign up and claim a small daily income in G$ coins.
Q: When was GoodDollar Created?
It was founded in 2018 by Yoni Assia, founder and CEO of eToro, who is also the corporate sponsor of the project.
Q: Who Is GoodDollar For?
Any real live human being that has access to an internet connection can sign up to GoodDollar and become a Claimer to receive a small daily income in G$ coins. To become a Supporter, at this stage, please contact us directly. Please check our Terms of Use for a full list of included countries.
Q: Is GoodDollar Built on the Blockchain?
GoodDollar is built using public blockchains to create and distribute its global basic income system. GoodDollar operates on the Ethereum mainnet and Fuse.io, an Ethereum side-chain (read this blog post for more). G$ is a crypto asset that adheres to the ERC-20 token standard. Please see the GoodDollar White Paper for more details.
Q: When Was The GoodDollar Launch?
GoodDollar will be released live to the public by September 7th 2020. The organization has released several beta wallets with demo “play tokens” prior to this date.
Q: What is Basic Income and how do I get it?
Basic income is the idea of giving a recurring cash payment directly to people. In most cases, governments consider giving basic income to a country’s citizens. GoodDollar takes a different approach, and presents a certain pool of income in G$ that is distributed equally to all users. New G$’s are released daily, and users claim their G$ every 24 hours. To receive a small daily basic income in G$, all you need to do is sign-up and create an account.
To learn more about basic income, check out this page and our blog for more resources.
Q: How do I invite my friends?
Simply share the website with them and invite them to sign up. GoodDollar gets way more fun, interesting and useful when your community is in on it, too. Then you can use your G$ coins to buy, sell and barter with each other.
Q: I was a GoodDollar demo user, what happens to my account?
Thanks for participating in the demo! You will have to sign up and create a new account. You can follow the steps below:
- Go to your GoodDollar demo wallet and wait until you see the update popup, then click “Update”.
- Create a new account and sign-up.
- Quickly go through the face verification process.
- Claim G$!
As mentioned, all demo G$’s tokens claimed as part of the demo were “play tokens” so will not appear in your new wallet. Enjoy claiming your new real G$ coins and thank you again for helping us improve the wallet experience!
G$ Coin & Wallet
Q: What are G$ digital coins?
G$ digital coins are the cryptocurrency that powers the GoodDollar economy. In the GoodDollar economy, Claimers claim G$ digital coins, and Supporters receive yield payouts in G$ coins for the capital they have committed to GoodDollar. G$ adheres to the ERC-20 standard and operates both on Ethereum mainnet and side-chains.
Q: How many G$ do I get every day (24 hours)?
It depends. Every day (in 24-hour cycles) there are a certain number of G$’s set aside to be distributed as basic income. This sum of G$’s are divided evenly between all active users in the system, who log-in and claim every 24-hours. Any unclaimed G$’s that are not claimed are moved to the pool of G$’s to be distributed the next day. Active users are defined as users who have claimed at least once in the past 14 days.
So the number of G$’s you receive on any day depends on two factors: 1) how many other active users log-in and claim, and 2) how many G$ are minted and given away. To learn more about how G$ are minted, we encourage you to read the GoodDollar White Paper.
Q: Why do I get a different number of GoodDollars than other members?
There are times when you may receive a different distribution than the other members. These include:
- New Account: when you create a new account, your first time claiming you will receive 10 G$. This includes if you have deleted an account and are re-registering.
- Account Reactivation: If you haven’t claimed for 14 days you will need to re-activate your account. You will receive 10 G$ when you first re-activate your account, and an equal amount of G$ for every day afterwards.
Q: When does the 24-hour claim countdown begin?
Every day at 11:40:12 GMT the new pot of G$ coins are released to be distributed.
You are able to claim G$’s once in any 24-hour cycle.
This means new G’s are released for claiming at: 4:40:12 AM in San Francisco; 7:40:12 AM in New York; 12:40:12 PM in London, 13:40:12 PM in Cape Town; 18:40:12 PM in Bangkok.
Q: Where can I use G$?
G$’s can be sent and received to your friends and contacts, enabling their use for peer-to-peer commerce and barter. In the future, GoodDollar will be available for use with specific vendors and merchants, and available on exchanges.
Q: How do I send and receive G$?
Check out this user guide on how to send and receive G$.
Q: Is G$ listed on exchanges?
G$ is currently not listed on exchanges, but will be available in the future.
Q: How does GoodDollar confirm my unique identity?
To claim G$ coins, we need to confirm that you are a live and unique individual. The goal is for every user to only have one GoodDollar account. We do this through asking you to take a selfie, and then verifying that your face is unique and distinct from other users. We do this through maintaining an anonymized dataset of the facemaps of all that people that register and for every new user the technology verifies that the face submitted does not already exist in the dataset.
We encourage you to read more in this blog post.
We do not ask you for any personal information for identification purposes.
Q: What is The Queue And Why Do I Have To Wait?
The queue is a temporary feature that has been added to ensure that the GoodDollar system is safe and secure for all users. We are regularly releasing new groups of users from the queue, so you should be released in a matter of days. Once we have confidence that the protocol is functioning securely, we will release the queue function permanently.
Token Model
Q: What is the price of G$?
GoodDollar was launched with an initial price of 1 G$ = .0001 USD. This was part of the initial system parameters. Immediately following the launch, the price of GoodDollar is variable and determined by usage. This means, the price of 1 G$ is determined by how much someone is willing to buy or sell it for. GoodDollar is not a stablecoin.
Q: How is value for G$ created?
Great question! Check out How G$ Works to get an overview. In short, G$ is a reserve-backed cryptocurrency that holds other crypto assets in its monetary reserve. For those who are looking to learn more, we encourage you to read through the LitePaper and the GoodDollar White Paper to learn more about how value for G$ is created, and our theory of adoption.
Q: How are G$ minted?
Every day a certain number of G$ are minted. The amount of G$ that are minted are determined by two factors: 1) the amount of interest that is moved into the GoodReserve, and 2) the Reserve Ratio, a number that reflects the ratio between crypto-assets locked in the GoodReserve vs. the G$ out in circulation. The minting logic and other parts of the GoodDollar monetary policy are detailed in the GoodDollar White Paper.
Q: What cryptocurrencies are in GoodDollar’s monetary reserve?
The decentralized stable coin DAI is the first crypto-asset in GoodDollar’s monetary reserve. 1 DAI is equal to $1 USD. You can read more about DAI and the MakerDAO protocol.
Q: What protocols can I use to support G$?
Compound is the first supported protocol. The interface for staking will be released in the second half of 2020. The roadmap will enable users to support GoodDollar through a wide-range of permissionless protocols. If you are interested in staking on Compound, please reach out to us directly by completing the form on Support G$.
Q: Are there a fixed number of G$ coins?
Yes, the number of G$ coins to be minted is fixed at 2.2 trillion. Please note that no G$ are pre-minted, and all G$ are minted according to the logic clarified above. The reasoning behind the fixed supply and other parts of the GoodDollar monetary policy are detailed in the White Paper.
Technical
Q: What blockchain is GoodDollar built on?
GoodDollar operates across two blockchain networks: the Ethereum mainnet, and Fuse.io, which is an Ethereum sidechain. Claiming G$ occurs on the Fuse network, and you can read more about how Fuse enables us to distribute basic income at scale in this blog post.
Q: Can I see G$ in my MetaMask or other Web3 wallet?
No, not by default. You can set up your MetaMask to interact with the Fuse network by adding Fuse rpc to metamask (rpc.fuse.io) and can add the G$ token to appear: (0x495d133B938596C9984d462F007B676bDc57eCEC)
Q: How long does a send/receive transaction take?
A send/receive transaction should take approximately 5 seconds, which is the Fuse block time.
Q: Any fees on transactions?
There are currently no fees to send and receive G$ if you are using the GoodDollar wallet. If you decide to use a third-party wallet, you will need to pay Fuse gas fees.
Q: Where can I learn more about the smart contracts and see a block explorer?
All information on our contracts and the block explorer can be found on our Github, https://github.com/GoodDollar. To learn more about our architecture and monetary policy, we encourage you to check out the GoodDollar White Paper.
Q: Where can I see the code?
All of our code is open-source and can be found on our GitHub, https://github.com/GoodDollar
Help Center
Q: How do I get started and use G$?
Check out our collection of User Guides on our Help Center, which will show you how to sign up and get started.
Q: Something isn’t working - where can I get help?
You can find common questions and a range of user guides in our Help Center. Still not finding what you need? For individual inquiries, you can submit a help request.
Q: What browsers are supported?
GoodDollar officially supports Chrome and Safari, though the app should work on other web browsers. If you are using GoodDollar on an iPhone, you must work with Safari as GoodDollar interacts with your camera (face verification, QR codes).
Q: Can I use GoodDollar in my country?
Users are responsible for individual use of the GoodDollar services and compliance with all laws and regulations applicable to it. To learn more about geographies where GoodDollar use is prohibited, please read our Terms & Conditions.
Privacy
Q: What personal information does GoodDollar collect about me?
We believe that it is important to protect your data privacy. Your personal data is collected, processed and stored lawfully and transparently by us, and meets international standards, including GDPR.
We collect basic sign-up information (email, name, mobile phone number) for wallet interaction, and errors to improve the wallet experience.
The GoodDollar app is a blockchain wallet that is secured by your private key, of which only you have access to. GoodDollar operates on the Fuse blockchain, which transparently presents all transactions in a way that is trackable and fully auditable.
You can access our complete Privacy Policy here.
Q: Can I request for my personal information to be deleted?
es, if you would like your personal information to be deleted from our systems, you can submit a request to <dpo@gooddollar.org and our team will handle your request.
Would you like to earn G$ right now! ☞ CLICK HERE
How and Where to Buy GoodDollar (G$)?
You will have to first buy one of the major cryptocurrencies, usually either Bitcoin (BTC), Ethereum (ETH), Tether (USDT)…
We will use Binance Exchange here as it is one of the largest crypto exchanges that accept fiat deposits.
Binance is a popular cryptocurrency exchange which was started in China but then moved their headquarters to the crypto-friendly Island of Malta in the EU. Binance is popular for its crypto to crypto exchange services. Binance exploded onto the scene in the mania of 2017 and has since gone on to become the top crypto exchange in the world.
Once you finished the KYC process. You will be asked to add a payment method. Here you can either choose to provide a credit/debit card or use a bank transfer, and buy one of the major cryptocurrencies, usually either Bitcoin (BTC), Ethereum (ETH), Tether (USDT)
Step by Step Guide : What is Binance | How to Create an account on Binance (Updated 2021)
Next step - Transfer your cryptos to an Altcoin Exchange
Once finished you will then need to make a BTC/ETH/USDT deposit to the exchange from Binance depending on the available market pairs. After the deposit is confirmed you may then purchase GoodDollar from the exchange: https://www.gooddollar.org/get-gooddollar/
Apart from the exchange(s) above, there are a few popular crypto exchanges where they have decent daily trading volumes and a huge user base. This will ensure you will be able to sell your coins at any time and the fees will usually be lower. It is suggested that you also register on these exchanges since once GoodDollar gets listed there it will attract a large amount of trading volumes from the users there, that means you will be having some great trading opportunities!
Top exchanges for token-coin trading. Follow instructions and make unlimited money
☞ https://www.binance.com
☞ https://www.bittrex.com
☞ https://www.poloniex.com
☞ https://www.bitfinex.com
☞ https://www.huobi.com
☞ https://www.mxc.ai
☞ https://www.probit.com
☞ https://www.gate.io
☞ https://www.coinbase.com
Find more information GoodDollar
☞ Website ☞ Explorer ☞ Explorer 2 ☞ Social Channel ☞ Social Channel 2 ☞ Coinmarketcap
🔺DISCLAIMER: Trading Cryptocurrency is VERY risky. Make sure that you understand these risks if you are a beginner. The Information in the post is my OPINION and not financial advice. You are responsible for what you do with your funds
Learn about Cryptocurrency in this article ☞ What You Should Know Before Investing in Cryptocurrency - For Beginner
I hope this post will help you. If you liked this, please sharing it with others. Thank you!
#blockchain #bitcoin #gooddollar #g$
