August GoodUpdate: Introducing the GoodDAO

Avatar Jessica Salama

GoodDollar isn’t just getting better, it’s getting GOOD.

Learn more about community-powered GoodDollar here

This is community-powered UBI

This past month, we (excitedly) announced the GoodDAO, GoodDollar’s governance model. Welcome to community-powered GoodDollar. Now, we’re passing the torch onto you.

What is a decentralized autonomous organization (DAO)?

A DAO is an entity created via a smart contract and owned and managed by its members. It’s a democratized system of decision-making using cryptocurrency and blockchains. The community now calls the shots. The GoodDAO was built on three principles:

  • Democracy. We’re tired of corporate hierarchy. Now, everyone has a voice.
  • Transparency. All decision-making and activity takes place in full view. Anyone can review the smart contract.
  • Inclusiveness. Blockchain is borderless, and so is the GoodDAO. Members can come from anywhere, the only requirement to vote is ownership of the governance token (GOOD).

In the GoodDAO, everyone is equally #good

So, we plan to distribute GOOD tokens accordingly. Here’s how each annual GOOD allocation will work:

  • 50% will go to claimers (according to the calculation set out above)
  • 25% will go to GoodDollar Trust stakers ($ value of stake, including donated interest/total $ value staked to the Trust).
  • 25% to people who stake their G$.

How to get GOOD?

Great question. There are three ways:

  • Through the initial and ongoing annual distributions to our two key community member segments: Claimers and supporters;
  • By staking G$ claimed or bought through the GoodDollar app;
  • By staking to the protocol (currently in DAI) which will earn you both G$ and GOOD tokens.

The GoodDAO is your chance to play an even bigger role in the GoodDollar digital ecosystem. How? Check out this Q+A created for you, by you. This is the next big step 🙂

Join us in the next live webinar with the GoodDollar team

Got more questions? GoodDollar’s protocol lead Tomer just had a baby but we’re planning AMA as soon as he’s back this month. Send us your questions in advance via the link here, and register for the webinar when the date is announced!

Spotlight on community / August by the numbers

The digital basic income economy keeps expanding.

Welcome to the 11,000 new members that joined in August! Southeast Asia remains the region with the most active claimers. Check out the map here.

  • Vietnam (1,800 new members in August)
  • Nigeria (1,400)
  • Brazil (1,200)
  • India (1,000)
  • Indonesia (700)

Some more numbers (BTW, check out more stats on this dashboard)

  • Nearly 350,000 total wallets around the world
  • The top 5 most active GoodDollar cities are:
    – Ho Chi Minh City, Vietnam
    – Lagos, Nigeria
    – Hanoi, Vietnam
    – New Taipei City, Taiwan
    – Jakarta, Indonesia
  • 54,000 active G$ claimers in the last 30 days
  • $22,000 delivered in G$ digital UBI to date

Join the coolest team

We’re not biased at all. GoodDollar is growing, and we’re hiring for a few remote, full-time roles. Are you our next communications lead? If you’re passionate about building a decentralized, impact-first economy, get in touch!

Register for the next webinar with the GoodDollar team

Got more questions? We’re going live to answer all your burning GoodDAO questions, and discuss what’s coming next for the GoodDollar community. The date is still TBD, but use the link below to send us your questions in advance and register for the event.

Let’s be social

Excited for the launch of GoodDAO and V2 (soon!)? Share the good news (pun intended) on social media with the hashtag #CryptoForAll and #Defi4Good to bring more people into the digital economy and do more #good!

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