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 fosters financial education and introduces recipients to the benefits of crypto.
GoodDollar is a model that flips traditional donation-driven philanthropy on its head. Sponsors are incentivized to take part through a “double bottom line” set of rewards: both financial and social. Because it draws upon the power of DeFi, GoodDollar is free from geographical, economic and regulatory restrictions. Anyone in any country can join the digital economy by accessing free crypto currency via the GoodDollar app, and anyone can become a philanthropist by staking capital to support the goals of the project. GoodDollar is in fact the world’s most universal UBI program to date, with more than 225,000 users in virtually every country on the planet.
