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Glo Dollar

$1,503.50 crowdfunded from 805 people

$1,568.99 received from matching pools

100%
average score over 1 application evaluations
Glo Dollar is a stablecoin that combats poverty by donating its reserve income to GiveDirectly, aiming to use a $20 billion market cap to lift one million people out of poverty.

Glo Dollar is the anti-poverty dollar. As market cap goes up, extreme poverty goes down.

Glo Dollar is a fiat-backed stablecoin. Like other stablecoins, Glo Dollar earns revenue from the Treasuries held in its reserve. Unlike other stablecoins, Glo Dollar’s parent organization, the Glo Foundation, gives away all income it earns from the coin to GiveDirectly, a well-respected NGO that sends money to people in extreme poverty, no strings attached.

In the long-run, we expect every $20,000 of Glo Dollar in circulation to create basic income for one person in extreme poverty. A $20 billion dollar stablecoin, which would make Glo Dollar the third largest, would lift one million people out of poverty.

Glo Dollar is issued by brale.xyz and is now available on Uniswap on Ethereum, Polygon and Celo. Glo Dollar is an open source project, with smart contract code on GitLab and source code for its dApp on GitHub.

On November 6 2023, the Gitcoin DAO voted to exchange $100,000 USDC for Glo Dollars in support of Glo Dollar: https://snapshot.org/#/gitcoindao.eth/proposal/0xd43f0a882b581e41bea6c0b162f2eab3b425a8cea5cbfa6da65e11a21ce364be

Glo Dollar History

  • accepted into Web3 Open Source Software 1 year ago. 805 people contributed $1,504 to the project, and $1,569 of match funding was provided.

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