Hi! We're starting with Ethereum and Polgyon, but we're definitely looking to expand to other chains. Happy to talk more (email address in the GP)
34 karma · joined January 4, 2022
Glo is building a stablecoin that lifts people out of extreme poverty by providing a basic income. We're a nonprofit startup. Our goal is zero extreme poverty.
Glo is a fully-backed stablecoin that invests its treasuries in short-term Treasury Bills -- just like Circle (USDC). The difference is we'll then give the proceeds from that investment away to GiveDirectly. We call it the anti-poverty version of the dollar.
We raised a $2m seed donation from Sid Sijbrandij (GitLab, YC W15) and are hiring broadly to help realize this vision:
- Head of Community
- Lead Writer
- Communications and Social Media Manager
- Motivated individuals with a vision for how to grow GLO
Glo's first goal is to be the best stablecoin, and we'll then aim for mainstream adoption beyond the crypto world. Ultimately we strive for Glo to be widely used for payments just like the dollar or the euro.
Check out https://glodollar.org for more!
If you're interested please do not hesitate to get in touch via hello@glodollar.org
Glo is building a stablecoin that lifts people out of extreme poverty by providing a basic income. We're a nonprofit startup. Our goal is zero extreme poverty.
Glo is a fully-backed stablecoin that invests its treasuries in short-term Treasury Bills -- just like Circle (USDC). The difference is we'll then give the proceeds from that investment away to GiveDirectly. We call it the anti-poverty version of the dollar.
We raised a $2m seed donation from Sid Sijbrandij (GitLab, YC W15) and are hiring broadly to help realize this vision:
- Executive Assistant
- Head of Community
- Lead Writer
- Copywriter
- Communications and Social Media Manager
- Brand partnerships manager
- Operations manager
- Motivated individuals with a vision for how to grow GLO
Glo's first goal is to be the best stablecoin, and we'll then aim for mainstream adoption beyond the crypto world. Ultimately we strive for Glo to be widely used for payments just like the dollar or the euro.
Check out https://glodollar.org for more!
If you're interested please do not hesitate to get in touch via hello@glodollar.org
Glo is building a stablecoin that lifts people out of extreme poverty by providing a basic income. We're a nonprofit startup. Our goal is zero extreme poverty.
Glo is a fully-backed stablecoin that invests its treasuries in short-term Treasury Bills -- just like Circle (USDC). The difference is we'll then give the proceeds from that investment away to GiveDirectly. We call it the anti-poverty version of the dollar.
We raised a $2m seed donation from Sid Sijbrandij (GitLab, YC W15) and are hiring broadly to help realize this vision:
- Head of Community
- Lead Writer
- Copywriter
- Communications and Social Media Manager
- Brand partnerships manager
- Operations manager
- Motivated individuals with a vision for how to grow GLO
Glo's first goal is to be the best stablecoin, and we'll then aim for mainstream adoption beyond the crypto world. Ultimately we strive for Glo to be widely used for payments just like the dollar or the euro.
Check out https://globalincomecoin.com for more!
If you're interested please do not hesitate to get in touch via hello@globalincomecoin.com
Secondly, many people have some long-term cash savings they're doing nothing with, just in case. Holding this in Glo can be an act of altruism. Sure, you can buy t-bills yourself, but by this logic no charity fundraiser would ever make sense (people can donate to causes without the fundraisers, no?). Humans don't spontaneously do all possible things. Marketing and coordination have an effect.
Thirdly, we'll work to make Glo supported as a means of exchange (e.g. by partnering with payment service providers, payroll providers, card issuers etc). Once you can receive your salary and pay your bills and subscriptions in Glo, this is all money you wouldn't have received savings yield on but is now lifting people out of extreme poverty. Same for companies. They can switch to Glo as their main currency and have more social impact at no financial cost,
[1]: https://twitter.com/glo_coin/status/1573300192832499712
Global Income Coin is building a stablecoin that lifts people out of extreme poverty by providing a basic income. We're a nonprofit startup. Our mission is zero extreme poverty.
The stablecoin is called Glo. Glo is the ethical cryptocurrency. We will compete with the current stablecoin incumbents (Tether, USDC), but will also aim for mainstream adoption beyond the crypto world. Ultimately we strive for Glo to be widely used for payments just like the dollar or the euro.
Glo will be a fully-backed stablecoin. We will invest our treasuries in short-term treasury bills, then give the proceeds from that investment away to GiveDirectly. This will be the starting point for our vision of a crypto-based UBI.
We raised a $2m seed donation from Sid Sijbrandij (GitLab, YC W15) and are hiring broadly to help realize this vision:
- Head of Community
- Lead Writer
- Copywriter
- Communications and Social Media Manager
- Brand partnerships manager
- Operations manager
- Motivated individuals with a vision for how to grow GLO
Check out https://globalincomecoin.com for more!
If you're interested please do not hesitate to get in touch via hello@globalincomecoin.com
Global Income Coin is building a stablecoin that lifts people out of poverty by providing a basic income. We're a nonprofit startup. Our mission is to eradicate extreme poverty.
The stablecoin is called GLO. GLO is the ethical cryptocurrency. We will compete with the current stablecoin incumbents (Tether, USDC), but will also aim for mainstream adoption beyond the crypto world. Ultimately we strive for GLO to be widely used for payments just like the dollar or the euro.
GLO will be a fully-backed stablecoin. We will invest our treasuries in short-term treasury bills, then give the proceeds from that investment away to GiveDirectly. This will be the starting point for our vision of a crypto-based UBI.
We raised a $2m seed donation from Sid Sijbrandij (GitLab, YC W15) and are hiring broadly to help realize this vision:
- Head of Community
- Lead Writer
- Copywriter
- Communications and Social Media Manager
- Brand partnerships manager
- Motivated individuals with a vision for how to grow GLO
Check out https://globalincomecoin.com for more!
If you're interested please do not hesitate to get in touch via hello@globalincomecoin.com
As for whether Glo is an effective use of money, if we'd capture 5% of the stablecoin market we'd generate the total amount of money GiveDirectly distributed in 2021 [1]
1. https://www.globalincomecoin.com/articles/vision-and-growth-...
Glo is an additional way to contribute to GiveDirectly. Instead of (or in addition to) donating convert your USD to Glo and it will passively generate money for GiveDirectly.
Our goal is to scale up the available money for GiveDirectly to give away. We're an actual non-profit, not a scam, and no one is taking a cut. Our operations are paid from philanthropic donations; donors receive nothing; employees receive a salary.
Global Income Coin is building a stablecoin that lifts people out of poverty by providing a basic income. We're a nonprofit startup. Our mission is to eradicate extreme poverty.
The stablecoin is called GLO. GLO is the ethical cryptocurrency. We will compete with the current stablecoin incumbents (Tether, USDC), but will also aim for mainstream adoption beyond the crypto world. Ultimately we strive for GLO to be widely used for payments just like the dollar or the euro.
GLO will be a fully-backed stablecoin. We will invest our treasuries in short-term treasury bills, then give the proceeds from that investment away to GiveDirectly. This will be the starting point for our vision of a crypto-based UBI.
We raised a $2m seed donation from Sid Sijbrandij (GitLab, YC W15) and are hiring broadly to help realize this vision:
- Head of Community
- Lead Writer
- Copywriter
- Communications and Social Media Manager
- Brand partnerships manager
- Motivated individuals with a vision for how to grow GLO
Check out https://globalincomecoin.com for more!
If you're interested please do not hesitate to get in touch via hello@globalincomecoin.com
Global Income Coin is a nonprofit startup striving to give every human on earth a dollar a day of income. We're launching a new coin called GLO, intended to be used for payments just like the dollar or the euro.
GLO will be a fully-backed stablecoin. We will invest our treasuries in short-term treasury bills, then give the proceeds from that investment away to GiveDirectly. This will be the starting point for our vision of a crypto-based UBI.
We raised a $2m seed donation from Sid Sijbrandij (GitLab, YC W15) and are hiring broadly to help realize this vision:
- Head of Community
- Lead Writer
- Social Media Manager
- Motivated individuals with a vision for how to grow GLO
Check out https://globalincomecoin.com for more!
If you're interested please do not hesitate to get in touch via hello@globalincomecoin.com
In the long-run, our aim is to have that demand come from economic activity -- meaning people using GLO for all the things they normally use cash or a credit card for.
In the beginning, We expect philanthropists and altruists to drive demand. If demand falls, we also have a USD reserve with which we trade with our own coin to support the value. We discuss this more in the trading section of our white paper [0].
Happy to discuss further if you have questions!
[0] https://docs.google.com/document/d/1E09fdrvBr_TgsUqODq-MROfo...
RE: KYC: For better or worse, KYC is necessary for a project like ours to prevent bad actors from creating duplicate identities, from which they could either A) launch a sybil attack or B) claim multiple UBI drops.
We understand that this is going to be a barrier to entry for some folks, but optimistic about progress on this front for a few reasons -- remittance companies are increasingly exploring crypto, mobile internet access is expanding rapidly, etc.
RE: skipping the crypto bit: something important to clarify here is that in the GLO model, the funds for UBI are a byproduct of people adopting GLO as money. The goal is to push the adoption of a new currency, and the printing of new money -- which ensures that there's enough of that currency in circulation -- is how GLO generates UBI. We understand that this is a bit more complicated than 'take $1 from one person and give it to another,' and therefore hard to explain pithily -- if you have any feedback on how we do so in our white paper we'd be glad to hear it [0].
Thanks for the great questions!
[0] https://docs.google.com/document/d/1E09fdrvBr_TgsUqODq-MROfo...
Global Income Coin is a nonprofit startup striving to give every human on earth a dollar a day of income. We're launching a new coin called GLO, intended to be used for payments just like the dollar or the euro. As adoption grows, we can slowly create additional money and give this away for free, to people directly.
Our tokenomics are the opposite of bitcoin. When demand for bitcoin grows, the price per coin rises because the number of coins is fixed. With Global Income Coin, we print new coins instead, stabilizing the coin. The new coins are distributed as basic income.
We raised a $2m seed donation from Sid Sijbrandij (GitLab, YC W15) and are hiring for a variety of roles to help realize this vision:
- Head of Trading
- Head of Econometrics
- Head of Community
- Lead Writer
- Social Media Manager
- Motivated individuals with a vision for how to grow GLO
Check out https://globalincomecoin.com for more!
If you're interested please do not hesitate to get in touch via hello@globalincomecoin.com
Global Income Coin is a nonprofit startup striving to give every human on earth a dollar a day of income. We're launching a new coin called GLO, intended to be used for payments just like the dollar or the euro. As adoption grows, we can slowly create additional money and give this away for free, to people directly.
Our tokenomics are the opposite of bitcoin. When demand for bitcoin grows, the price per coin rises because the number of coins is fixed. With Global Income Coin, we print new coins instead, stabilizing the coin. The new coins are distributed as basic income.
We raised a $2m seed donation from Sid Sijbrandij (GitLab, YC W15) and are hiring for a variety of roles to help realize this vision:
- Head of Trading
- Head of Econometrics
- Head of Community
- Head of Growth
- Lead Recruiter
- Lead Writer
- Motivated individuals with a vision for how to grow GLO
Check out https://globalincomecoin.com for more high level info & https://bit.ly/3svCq2w for our draft whitepaper.
If you're interested please do not hesitate to get in touch via hello@globalincomecoin.com
Global Income Coin a nonprofit startup striving to give every human on earth a dollar a day of income. We're launching a new coin called GLO, intended to be used for payments just like the dollar or the euro. As adoption grows, we can slowly create additional money and give this away for free, to people directly.
Our tokenomics are the opposite of bitcoin. When demand for bitcoin grows, the price per coin rises because the number of coins is fixed. With Global Income Coin, we print new coins instead, stabilizing the coin. The new coins are distributed as basic income.
We raised a $2m seed donation from Sid Sijbrandij (GitLab, YC W15) and are hiring for a variety of roles to help realize this vision:
- Algorithmic Trading Engineer
- Head of Econometrics
- Head of Community
- Head of Growth
- Lead Recruiter
- Lead Writer
- Software Engineers
- Motivated individuals with a vision for how to grow GLO
Check out https://globalincomecoin.com for more high level info & https://bit.ly/3svCq2w for our draft whitepaper.
If you're interested please do not hesitate to get in touch via hello@globalincomecoin.com
No, that project is called Worldcoin. We share the goal of trying to create a UBI, but have a different approach. For starters, we're a non-profit and our token has no pre-mine. We believe that that is the correct model for a project like this (for various reasons, see draft whitepaper [1]).
Second, as far as we currently know Worldcoin doesn't aim for their token to be stable/slightly inflationary in value like GLO. We think a continuous, weekly income that won't go up in value per token is a better fit for a UBI that tries to alleviate poverty. Poorer people have a more urgent need to spend, so they can't hodl.
Third, Worldcoin is tech. We are an economic model carrying a monetary policy, which could be implemented on any (or multiple) networks / blockchains. We're looking to develop as little tech as possible ourselves.
More extensive comparison between Worldcoin and Global Income Coin in the whitepaper:
[1] https://docs.google.com/document/d/1E09fdrvBr_TgsUqODq-MROfo...
- We're a non-profit, which we believe is the better organizational model to make a project like this work (for multiple reasons, see draft whitepaper [1])
- UBI requires two things: 1) money to send 2) a way to send it. We have a solution for both: 1) seigniorage 2) the network we're building by incentivizing exchanges to add humans to the network
There are difficult open problems, too. Generating token demand, dampening volatility, sufficiently fraud-resistant identity verification, scaling, etc. Those are active areas of work; the draft whitepaper [1] details the current solution directions we're working on.
[1] https://docs.google.com/document/d/1E09fdrvBr_TgsUqODq-MROfo...
What we're aiming to unlock is a donation-independent component in addition to that.
Global Income Coin is an economic model carrying a monetary policy: the bottom-up distribution of newly created money. The economy currently mostly runs on inflationary currencies. This means a massive amount of new money is created each year. Taking that as a fact, we propose to distribute this directly and more fairly; Global Income Coin is the implementation of that idea. Sats can't carry that monetary policy since they're non-inflationary by design. So we can't use sats.
> Lightning network is the only cryptocurrency construction that would permit such global payments
We _could_ use Lightning, and we might indeed in the future if that's the tried and tested best solution. We're not married to any particular platform. We don't need global scale on day one.
We're starting on Polygon (so transaction costs won't destroy all of the value)
Lightning is promising. The first tether transaction on lightning was only a month ago, however [1]. So that's not yet a boring enough solution.
Ethereum and Polygon won't (today) scale worldwide, but if we're able to gain traction we'll (a) branch out to every other network if necessary (b) contribute to networks so they can start to get to global scale
[1] https://bitcoinmagazine.com/technical/tether-sent-using-the-...
Agreed that generating token demand is one the main challenges. It's going to be very hard. After reaching a certain level of adoption, token value should become partly self-sustaining, and then newly minted tokens have value - this is how fiat currencies work (which have the benefit of being the only way to pay taxes, which we don't).
But how to get to that critical mass? We have several solution directions, and will probably need a combination of them to work. We'll elaborate this further in the draft whitepaper soon. One of the solution directions that could be key especially in the early stages is a social movement of people that buy (and start using) the token because they agree with the mission of the project and want it to succeed. Adopting GLO is one of the most direct ways for individuals to contribute to a pro-UBI cause. This will only ever be a fraction of the total demand, of course, but can be a solid base to help solve the cold start problem.
Global Income Coin a nonprofit startup striving to give every human on earth a dollar a day of income. We're launching a new coin called GLO, intended to be used for payments just like the dollar or the euro. As adoption grows, we can slowly create additional money and give this away for free, to people directly.
Our tokenomics are the opposite of bitcoin. When demand for bitcoin grows, the price per coin rises because the number of coins is fixed. With Global Income Coin, we print new coins instead, stabilizing the coin. The new coins are distributed as basic income.
We raised a $2m seed donation from Sid Sijbrandij (GitLab, YC W15) and are hiring for a variety of roles to help realize this vision:
- Algorithmic Trading Engineer
- Head of Econometrics
- Head of Community
- Head of Growth
- Lead Recruiter
- Lead Writer
- Software Engineers
- Motivated individuals with a vision for how to grow GLO
Check out https://globalincomecoin.com for more high level info & https://bit.ly/3svCq2w for our draft whitepaper.
If you're interested please do not hesitate to get in touch via hello@globalincomecoin.com