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DeFi Meets Universal Basic Income With Just-Launched Project From eToro
eToro's GoodDollar initiative will provide a universal basic income for some of the world's poorest by incentivizing people to yield farm on its platform.
By Paddy Baker
Updated May 9, 2023, 3:11 a.m. Published Sep 8, 2020, 3:15 p.m.
Multi-asset brokerage platform eToro has begun a new initiative that uses yield farming to hand out free crypto-backed stablecoins, apparently in a bid to promote financial inclusion.
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- Called GoodDollar, the project will create and issue a stablecoin ($G) 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 (DAI) stablecoins, although the plan is to diversify collateral so that each stablecoin is backed by a basket of cryptocurrencies.
- The UBI model is sustained by supporters who deposit underlying assets onto the platform and then yield farm on supported decentralized finance (DeFi) protocols, like Compound or Aave.
- Some of the accrued interest is then handed back to supporters, with the rest used as collateral for new $G tokens that are distributed each day.
- GoodDollar is a non-profit funded by donations from eToro. An app and wallet have been released alongside the announcement on Tuesday.
- Per the announcement, GoodDollar says hundreds of new wallets have been created in countries like South Africa and Nigeria, as well as Venezuela.
- An eToro spokesperson told CoinDesk that “over 100,000 G$ have been distributed to over 250 users” during the course of a two-week trial.
Read more: Retail Investors Aren’t Interested in Crypto Derivatives, Says eToro Executive
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Bilinmesi gerekenler:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
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Crypto's 'Best Days Are Ahead': Tom Lee's Bitmine Immersion Adds $320M of Ether
The company is likely sitting on about $3 billion in unrealized losses on its holdings of nearly 4 million ether tokens.
Bilinmesi gerekenler:
- BitMine Immersion Technology (BMNR) acquired 102,259 ether last week, valued at around $320 million, increasing its holdings to nearly 4 million tokens.
- The company currently has about $3 billion in unrealized losses on its ETH investments.
- Chairman Thomas Lee expressed optimism about the future of crypto, citing positive legislation and Wall Street support as reasons for continued accumulation.
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