GoodDollar ($G) aims is a reserve-backed token that is distributed daily as a form of digital basic income 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. The UBI model is sustained by supporters who deposit underlying assets onto the platform and then yield farm on supported DeFi protocols. A portion of the accrued interest is returned to supporters, with the rest collateralized for new $G tokens that are distributed each day. GoodDollar is a non-profit funded by donations from eToro. GoodDollar claims that new wallets have been created in countries like South Africa, Nigeria, and Venezuela.
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