GoodDollar PriceG$Inactive

What is GoodDollar (G$)?

GoodDollar (G$) is a cryptocurrency protocol designed to make digital money accessible and useful to anyone by creating free money as a public good. It leverages decentralized finance (DeFi) to issue and distribute free G$ tokens every day to registered members as a universal basic income (UBI). G$ is a reserve-backed token, and the GoodDollar protocol is a multi-chain system that sustainably funds UBI at scale through permissionless integration with other projects and protocols. The project launched in 2020 and operates on Ethereum, Celo, and Fuse. G$ functions as the utility token powering the ecosystem, while a separate non-transferrable governance token called GOOD is used for voting within the GoodDAO. The protocol is described as a people-powered framework to generate, finance, and distribute global basic income in an open model. It is a non-profit research project dedicated to the study of basic income and inequality, with a mission to explore blockchain and decentralized finance as tools for financial inclusion.

Key Specifications & Tokenomics

• Name: GoodDollar
• Ticker / Symbol: G$
• Category: Cryptocurrency / Social-impact protocol / Universal Basic Income (UBI) / DeFi
• Blockchains / Networks: Multi-chain — Ethereum, Celo, and Fuse
• Token Standard: ERC-20 and ERC-777
• G$ Token Address on Celo: 0x62B8B11039FcfE5aB0C56E502b1C372A3d2a9c7A
• G$ Token Address on Fuse: 0x495d133B938596C9984d462F007B676bDc57eCEC
• G$ Token Address on Ethereum: 0x67C5870b4A41D4Ebef24d2456547A03F1f3e094B
• GOOD Token Address on Celo: 0xa9000Aa66903b5E26F88Fa8462739CdCF7956EA6
• GOOD Token Address on Fuse: 0x603B8C0F110E037b51A381CBCacAbb8d6c6E4543
• GOOD Token Address on Ethereum: 0x603b8c0f110e037b51a381cbcacabb8d6c6e4543
• Max Supply: 2,200,000,000,000 G$ (2.2 trillion)
• Supply Policy: Based on the AMM Bancor Formula, which sets the G$ price according to a reserve ratio policy and generates the supply
• Backing: Reserve-backed with USD stablecoins; at launch, each G$ token was backed by DAI
• Token Model: 100% mission driven — no pre-mint, no private sale, no founder allocation
• CertiK Rating: 3.3
• Official Website: https://www.gooddollar.org/
• White Paper: https://whitepaper.gooddollar.org/
• Documentation: https://docs.gooddollar.org/

Who created GoodDollar?

GoodDollar was founded by Yoni Assia, who is associated with eToro. Anna Stone serves as Executive Director of GoodDollar and has been interviewed in media appearances discussing the project's mission to bring global universal basic income to the world. Matt Homer serves as a Senior Advisor; he is the Founder and General Partner of The Venture Dept and was previously an investor at Nyca Partners. GoodDollar is a non-profit funded by donations from eToro. The project follows a 100% mission-driven token model with no pre-mint, no private sale, and no founder allocation. The GoodDAO launched in 2020 and has been recruiting founding members. Detailed public information on the full development team is currently limited.

How does GoodDollar work?

GoodDollar operates as a multi-chain protocol where all core contracts related to the creation of G$ tokens occur on Ethereum mainnet, while distribution of G$ tokens as UBI to end-users happens on Layer 2 solutions or sidechains, currently Celo and Fuse, to make it practical and accessible for lower-income users. The UBI distribution mechanism is based on a daily distribution of G$ tokens to all verified members. G$ tokens are minted regularly in accordance with protocol rules and divided between contracts to be distributed as UBI or allocated for other ecosystem needs. The pool of G$ universal income is divided equally among all users who log in within a 24-hour period to make a claim, encouraging the flow of G$ to those who exhibit the greatest appetite for it. To maintain the principle of one person, one UBI, GoodDollar utilizes face verification and liveness testing through FaceTec's Zoom 3D technology. The enforced 24-hour gap between claims and periodic identity re-validation creates a natural filtering method referred to as Proof of Need. Users can also buy and sell G$ directly to and from the GoodDollar Reserve contract. The UBI model is sustained by supporters who deposit underlying assets onto the platform and yield farm on supported DeFi protocols, with a portion of accrued interest returned to supporters and the rest collateralized for new G$ tokens distributed daily.

What makes GoodDollar unique and valuable?

GoodDollar distinguishes itself through its social-impact mission and sustainable-by-design UBI economy. It is described as the largest UBI community in the world, with over 640,000 members from 181 countries, 13 active local chapters, over 110,000 weekly active users, and 100,000 monthly active users. The protocol reports $6 million in transactions and a 13x money multiplier on G$. It is recognised as a top 10 most used protocol by daily active user. The project targets users in countries with unstable economies or financial systems, such as South Africa, Nigeria, and Venezuela, with 67% of its community coming from emerging market economies. G$ is described as the number one ERC-777 token by transaction in the world and one of the top 20 ERC-20 tokens in the world by transaction. The protocol is 100% open source and EVM-compatible across Ethereum, Celo, and Fuse. It also features a native Superfluid token for streaming and payments. The token model is entirely mission-driven with no pre-mint, no private sale, and no founder allocation, ensuring that the project remains focused on its goal of creating free money as a public good.

What is GoodDollar used for?

G$ is the utility token that powers the GoodDollar protocol and its ecosystem. It is minted and distributed as UBI to verified members who claim it daily. Members use their UBI to explore Web3, learn by doing, and access DeFi and blockchain-based services. G$ is designed to support an open digital economy where new money can be created and directed toward inclusive growth. The token can be used within various ecosystem applications including GoodWallet for claiming daily G$ and executing payments, GoodDapp for supporting the protocol through swaps and staking, GoodCollective for directing digital payments to specified members, and Halofi for saving G$ and earning rewards with digital savings groups. Users can also buy and sell G$ directly to and from the GoodDollar Reserve contract. Additionally, G$ can be swapped on decentralized exchanges. The GOOD governance token, which is non-transferrable, is used to vote in GoodDAO governance proposals and rules the protocol's economics, with distribution of 50% to claimers, 25% to Supporters, and 25% to G$ stakers.

How Is the GoodDollar ecosystem developing?

The GoodDollar ecosystem is structured around the GoodDollar Protocol, the GoodDAO, and its community. The dApp library includes GoodWallet, a non-custodial wallet for receiving and transferring G$ tokens; GoodDapp, which enables swaps to the Reserve and Ethereum staking; GoodCollective, which enables UBI as a service through direct digital payments to specified members; and Halofi, which allows users to save G$ and earn rewards with digital savings groups. Additional ecosystem applications include Uniswap for exchanging G$ into other tokens, Fonbnk for buying and selling mobile airtime with G$, Masa for purchasing .Celo domains and obtaining Soul Bound Tokens, and Ariswap for minting, buying, selling, and experimenting with NFTs. Participation options include supporting G$ liquidity on DEXes, staking, swapping, bridging G$, staking stablecoins to fund UBI at scale, providing G$ liquidity to earn rewards, supporting local GoodDollar communities or entrepreneurs, and donating fiat or crypto. For builders, the protocol offers EVM compatibility, a top transacted ERC-777 token, a native Superfluid token for streaming and payments, and access to over 110,000 weekly active members.

How to mine GoodDollar?

GoodDollar is not mined through traditional proof-of-work or proof-of-stake consensus. Instead, G$ tokens are minted by the GoodDollar protocol and distributed as UBI to verified members. To acquire G$, users can claim, earn, or buy the token. Claiming requires users to verify their uniqueness to get a GoodDollar verified address, which is done on GoodWallet. The UBI distribution is based on a daily distribution of G$ tokens to all verified members, with the pool divided equally among all users who log in within a 24-hour period to make a claim. The supply policy is based on the AMM Bancor Formula, which sets the G$ price according to a reserve ratio policy and generates the supply. Supporters can deposit underlying assets onto the platform and yield farm on supported DeFi protocols, with a portion of accrued interest returned to them and the rest collateralized for new G$ tokens. Users can also buy and sell G$ directly to and from the GoodDollar Reserve contract.

How to keep your GoodDollar Coin safe?

Keeping G$ tokens safe begins with using a trusted non-custodial wallet such as GoodWallet, which is designed specifically for the receipt and transfer of G$ tokens. Users should verify their uniqueness through the official verification process to obtain a GoodDollar verified address, which helps ensure that only legitimate members can claim UBI. Because GoodDollar operates across multiple chains including Ethereum, Celo, and Fuse, users should be careful to confirm the correct network and token contract address when transferring or swapping tokens. The protocol is 100% open source, allowing users and developers to review the code. GoodDollar utilizes face verification and liveness testing through FaceTec's Zoom 3D technology for identity verification, which helps prevent Sybil attacks and ensures one person receives one UBI. As with any cryptocurrency or blockchain project, potential participants should carefully consider the risks and conduct their own research. The CMC team has not verified the project's circulating supply, and the operational liability of the GoodDAO and GoodDollar Protocol does not fall under GoodDollar itself. Users should always double-check official sources before interacting with any contract or application.