GoodDollar
Crypto Overview
Purpose and Utility
GoodDollar (G$) is a cryptocurrency project launched in 2020 with the mission of promoting universal basic income (UBI) through blockchain technology. The protocol allows users to stake crypto assets, with the yields being used to mint and distribute G$ tokens to verified users daily as a form of basic income.
Business Model
The project operates on a unique model where supporters can stake cryptocurrency assets (primarily DAI) into the GoodDollar trust. The generated yield is used to back newly minted G$ tokens, which are distributed daily to verified users. The system relies on proof-of-identity verification to prevent multiple claims.
Real-World Adoption
As of 2023, GoodDollar reports over 350,000 verified users across 180 countries receiving daily UBI claims. The token can be traded on decentralized exchanges and used within its ecosystem.
Platform Development
The project maintains active development with regular updates to its protocol and wallet application. The team consistently implements improvements to the verification system and token distribution mechanisms.
Token Distribution
G$ tokens are primarily distributed through daily claims to verified users, with a portion allocated for development and ecosystem growth. The token supply is dynamic, expanding based on the yield generated from staked assets.
Crypto Impact
To assign a comfort level investing in GoodDollar from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to GoodDollar.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.