Fuse Project GoodDollar Progress Update

Published on: 08.05.2022

Fuse Project GoodDollar released Progress Update: recent progress, including the launch of DeFi-friendly V2, the introduction of decentralized governance via the GoodDAO, the introduction of a new roadmap and a surge in global membership to nearly 400,000.

GoodDollar is a decentralized impact project whose vision is to help channel the potential of blockchain technology for the greater good. To achieve this, GoodDollar uses the power of the blockchain to sustainably generate free crypto for members in every corner of the world.

Fuse Project GoodDollar Progress Update:

GoodDollar’s embrace of DeFi

The initial funds supporting the G$ distributed to users were staked by eToro. With the launch of V2 of the protocol, the option of staking in support of the UBI mission is now available to all DeFi users.

Specifically, instead of just staking crypto assets with the USDC pool on Aave or the DAI pool on Compound directly, DeFi participants can do the same via GoodDollar to become stakers. The interface for staking is available here.

Users can withdraw the staked crypto assets at any time, while exchange G$ tokens for the assets held in the protocol’s reserve.

Governance decentralization

In conjunction with the launch of V2, GoodDollar also transitioned to a decentralized governance model via the GoodDAO. Participation in governance is based on non-transferable GOOD tokens that are issued to protocol participants depending on their level of contribution and activity.

Platform growth

Since its launch in August 2020, GoodDollar has distributed $84K in G$ to almost 400K claimants globally. There have been more than 121K active claimants over the last 14 days.

For many months straight, GoodDollar has consistently featured in the top ten of the decentralized applications by the number of daily users across all the blockchains tracked by DappRadar.

A new roadmap

In addition to its already impressive track record, the GoodDollar project has announced a set of exciting planned improvements and initiatives in its recent roadmap article.