GoodDollarPrice

($G)

GoodDollar is a multi-chain protocol dedicated to creating and distributing digital Universal Basic Income (UBI) sustainably. Its core mission is to reduce wealth inequality and provide a foundational standard of living. It achieves this by offering free digital money, G$, as a public good to anyone with internet access, leveraging decentralized finance (DeFi) and blockchain technology to ensure accessibility and sustainability.

The G$ token is the primary utility cryptocurrency that powers the GoodDollar protocol. It is minted and distributed as UBI, forming the basis of the project's digital income offering. G$ is a standard ERC-20 token, recognized for its high transaction volume as an ERC-777 token, and operates across multiple blockchain networks, including Ethereum, Celo, and Fuse.

To claim G$ UBI, users simply need to open the GoodWallet application or access the GoodDapp. After a one-time verification process to confirm their uniqueness, they can click the "Claim" button. Claims are available daily, with the claiming window resetting at 12 PM UTC, requiring users to wait until the same time the following day for their next distribution.

G$ tokens can be acquired through several methods. Users can claim the daily UBI, earn them by participating in community commerce, or purchase them. For exchanges, G$ is listed on various decentralized exchanges (DEXs) within the Celo Network and Fuse Network ecosystems, and it can also be exchanged directly via GoodSwap. This allows users to convert G$ into other cryptocurrencies.

GoodDollar operates as a multi-chain protocol. Its core smart contracts are deployed on the Ethereum mainnet. For G$ distribution and daily operations, it primarily utilizes more scalable and cost-effective sidechains, specifically the Fuse Network and Celo Network. This multi-chain strategy enables efficient and widespread UBI distribution while leveraging the security of Ethereum for its foundational components. Users can bridge G$ between these networks.

The GoodDollar Reserve smart contract experienced an exploit, resulting in unauthorized withdrawals of cDAI and the unapproved minting of 14 billion G$ tokens. This incident severely impacted G$ liquidity. While the exploit affected the protocol's reserves and the token's market dynamics, it is important to note that users' personal data and their holdings within the non-custodial GoodWallet remained secure and unaffected by the breach. Minting of new G$ is currently paused while a restoration plan is developed.