Grantcoin – Cryptocurrency backed by a basic income non-profit
grantcoin.org
grantcoin.org
I couldn't find any prior mention of this coin on HN. It looks like an interesting idea - proof-of-stake, UBI-style distribution - where the Grantcoin Foundation uses it's funds to "back the value of Grantcoin currency on markets where it trades" - but I can't find a more detailed explanation of what that means.
(There's a few longer documents on their page I haven't had time to go over - maybe in there?)
"back the value of Grantcoin currency on markets where it trades" probably means that they use the money of the foundation to buy the coins to try to avoid a sharp reduction of the value. I doubt they have enough money to keep the price > 0.