What is GoodDollar? – GoodDollar is a Universal Basic Income protocol that strives to empower communities, promote education, and reduce global economic inequality through the distribution of the G$ token.
What can I do with GoodDollar? – After verifying your identity, you can access and receive G$ UBI daily from GoodDollar. GoodDollar is a circular economy, bringing together participants to support sustainable UBI as a public good.
What Opportunities do I have with GoodDollar? – Global G$ UBI issuance opens the door for financial empowerment, education, and access to both local and online resources.
Disclaimer: The following article is for informational purposes only. It should not be taken as an endorsement, investment, tax, financial, or other advice. The GoodDollar dapp is not built or maintained by Valora nor does Valora receive any payment or other form of compensation from GoodDollar. This article simply aims to provide an explanation of how many people around the world are using the Valora wallet to access and explore decentralized applications like GoodDollar. As with any Web3 solution, you alone assume the sole responsibility of evaluating the merits and risks associated with using any third-party decentralized application.
What is GoodDollar?
GoodDollar is a movement, and a community-driven, non-profit protocol that generates and distributes universal basic income (UBI) through the GoodDollar token, G$.
GoodDollar’s mission is to reduce wealth inequality and advance decentralized finance (DeFi) education and access. GoodDollar does this through global distribution of digital money (G$), and GoodDollar’s G$ UBI is claimable every day for free. Anyone in the world can claim GoodDollar tokens (G$ as a daily UBI). More than half a million people from over 180 countries and territories have opened a GoodDollar digital wallet in order to claim UBI, with 80,000+ currently doing so daily.
Now, in partnership with Celo, Valora wallet users will be able to start claiming G$ directly from the Valora app.
How does GoodDollar work?
GoodDollar envisions a world where everyone has access to basic economic assets, and where financial products are inclusive by design. To enable this vision, GoodDollar functions as a circular economy facilitating two groups of participants: recipients and supporters.
Recipients are individuals who want to receive UBI and are able to claim free G$ daily. Supporters, on the other hand, can be organizations or individuals, whose objective is to support UBI and help create an inclusive economy. Supporters are able to stake their crypto capital into yield-earning DeFi protocols via GoodDollar’s protocol (GoodDapp.)
Recipients: Individuals who are able to claim G$ universal basic income through GoodDollar
Supporters: Organizations or individuals who stake their crypto assets into interest-generating DeFi protocols, through GoodDollar, to support global financial inclusivity
Accrued interest from crypto capital staking by supporters is used to issue G$ UBI to claimers, which will be distributed back to supporters in the form of GOOD tokens (GoodDollar Governance token).
What opportunities do I have with GoodDollar?
Claiming G$ UBI is just the first step in many opportunities with GoodDollar. Through UBI distribution, GoodDollar aims to promote financial inclusion and increase education globally. By claiming UBI, individuals gain access to the expansive world of DeFi, such as basic financial services and global payment structures.
In global GoodDollar communities, claimers are empowered to launch micro-businesses, crowdfund for their local communities, and improve their daily lives. G$ tokens can serve as a payment currency in both local and digital marketplaces and be traded for other cryptocurrencies on decentralized exchanges (DEX).
Soon to come, GoodDollar’s partnership with Celo provides more ways for recipients to use their claimed G$ UBI. GoodDollar and Celo share a goal of creating a financially equitable future for all. Celo’s inclusive ecosystem of user-centric dapps focused on providing financial accessibility and empowerment is in natural alignment with GoodDollar’s mission of providing free money as a public good.
By integrating G$ onto the Celo blockchain, the community will be able to engage with various dapps within the Celo ecosystem.
How do I start claiming G$ on Valora?
To start claiming G$, you will first need to connect to Valora. If you haven’t already - you can download the Valora app from the Apple App store or Google Play store here. It only takes a few simple steps to set up your Valora wallet.
It is essential to use the same wallet for claiming G$ daily. Your designated wallet will act as your GoodDollar-Verified Address, which is directly associated with your individual identity. The wallet address will be verified by FaceTec, ensuring its authenticity, to be green-listed across all chains andenable you to claim G$ as part of the universal basic income (UBI) program.
Follow the steps below to set up and connect your Valora wallet with GoodDapp. If you have any questions, please feel free to reach out to Valora support on Discord and our team would be happy to assist you.
1. Launch Valora
Launch Valora on your smartphone.
Select GoodDollar from the dapps page.
Log in with Wallet Connect by clicking “Connect to a wallet” and then select Valora.
2. Set up your GoodDollar Account
Verify Personhood with your phone camera. This process is to set up your GoodDollar-Verified Address, which is the wallet address linked to an approved verification of a unique and live individual. Once verified, your wallet address will be green-listed to claim G$ UBI.
Note: The wallet address you link with face verification is your only GoodDollar-Verified Address. You will not be able to claim from another wallet!
Return to Valora wallet after you’ve verified your unique identity.
Claim your G$ coins daily by tapping “claim”.
Why we’re excited
GoodDollar’s offering of UBI through the G$ token has the potential to positively impact millions of people by reducing wealth inequality, and provide an easy and free way to start exploring web3. Now that GoodDollar’s G$ tokens are easily claimable through the Valora app, we are excited to bring UBI to even more users around the world!
Stay tuned and make sure to follow @Valora and @GoodDollar on Twitter to get details on this opportunity to claim G$ coins daily, made possible by our GoodDollar partnership. And if you haven't already, make sure to download the Valora app today to get your G$ tokens from GoodDollar!