January 2022: Much to celebrate as GoodDollar Reserve soars

GoodDollarHQ

GoodDollar started 2022 on a roll, as we celebrated the early weeks of V2, our first community and ambassador calls, the passage of new governance proposals, and a 130% jump in the value of the GoodDollar Reserve.

The list of January highlights is long (and exciting!) So, let’s just jump straight in!

G$ buying begins—GoodDollar Reserve value soars

With the launch of V2, the GoodDollar Reserve opened to anyone who wanted to buy and sell G$ via GoodSwap, our intuitive new community interface.

We expected a lot, but we were frankly stunned by the response: the value of the reserve has surged 130% and the price of G$ has increased a healthy 18.75%.

Open staking

Another major change ushered in by V2 is the opening of staking to all.

In January, we welcomed the first crop of stakers who, by depositing supported cryptocurrency with third-party protocols Compound and Aave, will help us fund crypto UBI for all and earn G$ at the same time!

Over to you

We held the inaugural GoodDollar community call, at which we gave members a live demo of GoodSwap and walked them through the proposed GoodDollar Improvement Plan (GIP), a process for initiating changes to the protocol.

The GIP process is set to become reality after members this week passed it with a hefty 99.7% to 0.3% majority. With the GIP, our community now has a simple and straightforward route to playing an active part in the evolution of the protocol – and all the tools it needs to make GoodDollar the best it can be.

Learn more about the approved governance procedures in this summary, or dig into the details by reading the GIP in full.

Connecting with our Ambassadors

Community calls aren’t the only way to keep up with what’s happening in your social impact economy. We’ve also launched a new open source community site, along with a series of regular calls with the GoodDollar Ambassadors: content creators, community builders, educators and innovators from all around the world who truly believe in the crypto UBI mission.

These will provide a forum for updates on GoodDollar, and for sharing stories and promoting local initiatives. In our January discussion, we heard about a meet-up in Nigeria led by ambassador Steve, and a get-together in Tel Aviv hosted by key team member Jess.

We were also excited to discover there’s now a community-created Twitter channel providing GoodDollar updates and content in Vietnamese!

Get on board with the GoodGiveback

The results of our first crowdsourcing campaign were also cause for celebration. The GoodGiveback initiative generated close to $4,000 worth of G$ donations, earmarked for grassroots projects nominated by local communities as forces for good. 

We’re extremely grateful to eToro, who generously donated $10,000 to be divided among the nine good causes chosen in this first round. These included a project to supply healthy food to socially vulnerable and food insecure families in Brazil, an Albanian women’s forum working with survivors of violence and trafficking, and the Fund a Child’s Education organization in Zimbabwe.

We’re now busy planning future campaigns. Look out for our open call beginning in March, when we’ll be requesting nominations for women-led and women-focused projects. 

Working on the Wallet

January marked the end of beta testing for the GoodDollar app on Android. More than 19,000 people have downloaded the app so far, and in February we’ll be working on improvements including a simpler log-in and a display of your G$ balance in USD.

A bountiful offer for innovators

Are you a developer looking to learn the ins and outs of web3? Check out our bounties site to learn how you can be mentored by our global team and make your mark on the GoodDollar project.

There are 14 open calls for solutions—everything from an SDK that allows log-in with G$ to an API for payments to sellers. And don’t be intimidated: we will connect you with a mentor who can guide you through the process.

Good Dollar around the world

The word on GoodDollar is spreading far and wide, as we were reminded in January when we learned that we now have members in 183 countries and 40 territories.

January by the numbers

  • 11,177 New claimers (13.7% increase)
  • 69,384 Active claimers (13.8% increase)
  • 26,486,432.16 G$ distributed
  • $4,678.66 USD distributed
  • 19,467 new joiners to the GoodDollar ecosystem

A look ahead

Taking care of business

February’s already off to a great start with approval of the GIP. Our members now have all they need to pilot the protocol into the future.

We’ll be offering grants for teams of trusted members willing to take on tasks such as moderating social media channels or inducting new members into the GoodDollar ecosystem. Interested? Find out more about the Community Moderation Grant and get in your application.

Aave staking upgrade

We discovered a glitch that meant our USDC staking contract wasn’t distributing G$ rewards to stakers. That contract has been temporarily taken offline while the team works to address this. We’ll update you as soon as it’s good to go.

Growing the ecosystem

We’ve opened a conversation with Aave Grants DAO and have invited them to become GoodDollar supporters. Read our proposal here.

We’re also in talks with PopCorn, an eco-friendly protocol that aligns with GoodDollar’s DeFi for good values, about a potential DAO2DAO collaboration. We’ll keep you posted!

That’s it for now. Stay tuned for the next chapter of the journey to Crypto4All!

Back to Blog