BlocksInform
Tel Aviv, Israel, 22nd September, 2021,
eToro, a multi-asset investment platform that empowers people to grow their knowledge and wealth as part of a global community of investors, announced today that it is reinforcing its commitment to opening the digital economy to the next billion global crypto users by this week by raising its stake in GoodDollar’s universal basic income (UBI) protocol from $58,000 to $1 million.
The additional capital will fund the expansion of GoodDollar, a protocol that works to further financial education and bridge the growing global wealth gap with a clever combination of smart contract mechanics, decentralized finance (DeFi) and a reserve-backed crypto token — the G$.
The GoodDollar system captures the interest generated by staking sponsors’ capital in DeFi protocols such as Aave and Compound and distributes that to a global community of members in the form of GoodDollar tokens. At the same time, gooddollar promotes financial education and introduces beneficiaries to the advantages of crypto.
Gooddollar is a model that reverses traditional donation-driven philanthropy. Sponsors are encouraged to take part through a "double bottom line" of rewards: both financial and social. Because it draws on the power of challenge, the good dollar is free from geographical, economic and regulatory restrictions. Anyone in any country can join the digital economy by accessing free cryptocurrency through the gooddollar app, and anybody can become a philanthropist by mobilizing capital to support the objectives of the project. Gooddollar is actually the most universal ubi program in the world to date, with over 225,000 users in nearly every country on the planet.
