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Glo Dollar
Glo Dollar is the anti-poverty dollar. As market cap goes up, extreme poverty goes down.Glo Dollar is a fiat-backed stablecoin pegged to the US Dollar. Like other stablecoins, Glo Dollar earns revenue from the Treasuries held in its reserve. Unlike other stablecoins, Glo Dollar’s sponsoring 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.Learn more on glodollar.org or continue reading belowA stablecoin that generates basic incomeSimply by owning money in the form of Glo, you generate new money which then goes to people living in extreme poverty. Sounds magical? The model is actually quite simple.Think of Glo as an alternative version of the US dollar with an added property: it lifts people out of extreme poverty. That's why we call it the ethical currency.Glo presents a new way for people and companies to help fight extreme poverty. You can participate by swapping some of your normal money to Glo.Holding Glo = donationless philanthropyWhen you swap from USD ⇄ Glo, you help us make more money. We donate all of this to basic income programs for people living in extreme poverty. This costs you nothing.More Glo Dollar adoption = less povertyOn average, we expect to lift one person out of extreme poverty for every $20,000 of Glo Dollar market cap. With enough adoption, we'll be able to help millions of people escape extreme poverty.We're the Glo Foundation, the organization behind Glo Dollar.With enough Glo adoption, we can substantially decrease extreme poverty.All the money converted to Glo contributes to our mission. Our operational costs (such as salaries) are generously funded through donations.Learn more about us here https://www.glodollar.org/articles/about-us
Raised: $1,091.832

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