- Called GoodDollar, the project will create and issue a stablecoin ($G) that can be distributed daily to registered users as a form of universal basic income (UBI).
- At launch, each $G token will be backed by dai (DAI) stablecoins, although the plan is to diversify collateral so that each stablecoin is backed by a basket of cryptocurrencies.
- The UBI model is sustained by supporters who deposit underlying assets onto the platform and then yield farm on supported decentralized finance (DeFi) protocols, like Compound or Aave.
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