G$/USD: Convert GoodDollar (G$) to United States Dollar (USD)

GoodDollar (G$) is a digital token that aims to provide a form of universal basic income (UBI) to its registered users. It operates on a unique model where the token is backed by a reserve, initially in the form of DAI, a stablecoin. The UBI model is sustained by supporters who deposit underlying assets onto the platform and then yield farm on supported DeFi protocols. A portion of the accrued yield is returned to supporters, with the rest collateralized for new G$ tokens that are distributed each day. GoodDollar is a non-profit initiative funded by donations, and it does not perform an Initial Coin Offering (ICO). The G$ tokens are distributed for free to registered users, aiming to provide a sustainable flow of free cryptocurrency to people most in need of access to capital and an onramp to the digital economy.

GoodDollar operates as a wrapper of other protocols, allowing earnings generated in those protocols to be directed to fund the GoodDollar UBI ecosystem. Its flexible design enables it to wrap any DeFi protocol, enabling DeFi users to choose their preferred repository and direct their capital towards supporting UBI for all. The GoodDollar protocol presents a community-driven, distributed framework designed to generate, fund, and distribute global basic income via the GoodDollar token (G$). G$ is an ERC-20 digital asset built on the Ethereum blockchain that operates within the emerging ecosystem of decentralized and open finance.

GoodDollar aims to address wealth and income inequality, one of the greatest threats to the future of humanity. It seeks to provide a sustainable flow of free cryptocurrency to people most in need of access to capital and an onramp to the digital economy. The protocol aims to offer incentives to all who hold G$, whether they choose to participate as supporters of basic income or to claim G$ as daily UBI. This fosters a “trickle-up” basic income economy that focuses on wealth creation rather than wealth redistribution. The model creates an economic framework that aligns financial incentives with an accessible distribution method.

GoodDollar was conceived with the vision of providing a global UBI powered by cryptocurrency. The primary purpose of the GoodDollar project is to bring hundreds of millions of financially underserved individuals into the digital economy and address systemic inequity in the global economy. The project has seen new wallets created in countries like South Africa, Nigeria, and Venezuela. The GoodDollar protocol presents a community-driven, distributed framework designed to generate, fund, and distribute global basic income via the GoodDollar token. The system is built to accommodate scale, whereby the value and utility of G$ to its holders increases as more supporters, recipients, and merchants join the GoodDollar network.