[GIP 14.1] Increase Distribution on Celo Blockchain

Governance Proposals
#1

Amendment: [GIP 14] Activation of G$ UBI Distribution on Celo

GIP Amendment: [GIP 14] Activation of G$ UBI Distribution on Celo
Title: Expansion of GoodDollar Protocol on Celo
Author: Meri Fernandez
Status: Stage III
Track: Protocol
Created: 24-03-2023

TLDR: GIP 14.1 is a proposed amendment to accelerate the rate of [GIP 14] G$ UBI distribution to 50% of G$ UBI issuance on Celo and Fuse, due to an unanticipated increase in the rate of daily GoodDollar claimers on Celo blockchain.

The original proposal of GIP 14 enacted the G$ UBI Distribution on Celo according to the following rates:

Multi-chain Distribution of the 80% of G$ Issued Designated for UBI Distribution:

  • Initiate G$ UBI distribution with a 10% distribution of daily G$ issued on Celo, with proposed monthly increases of 10% every month until a 50% distribution (of the daily 80% distributed) is reached on both chains, Celo and Fuse.

  • The monthly update of the daily distribution will require manual updating of the contracts, which will be executed by the Protocol Community Guardians.

To support the Celo expansion, GoodDollar Limited LLC will support the funding the initial distribution contract on Celo with 10,000,000 G$ to support sustainable G$ UBI disitribution. This is a crypto-asset donation on behalf of the GoodDollar Protocol expansion.

Proposed Change: Immediate increase to 50% the rate of G$ UBI Issuance for Distribution on Celo

Multi-chain Distribution of the 80% of G$ Issued Designated for UBI Distribution:

50% UBI on Fuse

  • 50% of G$ to be directed to the UBI Distribution Contract on Celo
  • 50% of G$ to be directed to the UBI Distribution Contract on Fuse

All GoodDollar members will be able to continue to claim on both chains on GoodDapp.org.

Motivation for Proposed Policy Change

The data of the rapid number of Daily Active Users on Celo Blockchain supports this proposed policy change:

  • The number of daily active users claiming on Celo has increased by 57.4% in 1 week.

    In 1 week since announcing the launch of the protocol, there have been 5,887 active claimers => in the last 7 days + 57.4% ( +2,148)

  • Current distribution on Celo and on Fuse

    Fuse: G$ 461.68

    Celo: G$ 508.84

  • How fast the distribution is lowering on Celo.

    The amount of G$ per user on Celo is decreasing at a rate of 5.4% per day relative to Fuse.

  • Good Labs Foundation has also proposed the launch of the GoodWallet multichain wallet which will naturally increase the Daily Active User numbers in GoodWallet to projected 80k MAU on both Fuse and Celo.

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  • The rate of increase of 57% per week is astonishing, and an increase in the growth of transactions on Celo (92% increase)

  • Active Countries and Population of Celo claimers, as reflected in the visualization below:

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image1062Ă—570 119 KB

This proposed policy change is designed to match G$ UBI distribution to the enthusiasm of the G$ community for moving to Celo, and the enthusiasm of the Celo ecosystem to welcome the GoodDollar community!

29 Likes
#2

The immediate embrace of G$ on Celo by the GoodDollar members has been enthusiastic and overwhelming. This GIP is critical to continuing our Celo expansion.

This GIP amendment comes in advance of the launch of the GoodWallet as Celo default, where we can predict a jump from est ~7k daily active claimers (currently claiming on GoodDapp) to 35k daily active claimers (80k MAU) through GoodWallet.

22 Likes
#3

I think this is a step necessary given the fantastic reception the community has given to the CELO expansion.

Plus, the utility of the G$ will multiply exponentially on CELO, as will probably do the community so the sooner the UBI amount on this chain grows, the better i think.

I will vote yes when the time comes.

13 Likes
#4

Please increase on celo distribution

9 Likes
#5

Great! Let’s go! Celo ecosystem is very large and potential.

6 Likes
#6

What are the reasons CELO was chosen over other scalable, fast, reliable, secure and environmentally sustainable layer ones like Hedera Hashgraph?

4 Likes
#7

Hi!

You can find all the reasons why we decided to expand the GoodDollar protocol on Celo Blockchain on this past GIP that the community voted and approved: [GIP-13] Expansion of GoodDollar protocol on Celo blockchain

8 Likes
#8

I strongly believe the proposal is in the right direction since the initial expansion on the Celo chain has increased active claims

4 Likes
#9

I’ll support this propossal when it will go to be voted

4 Likes
#10

Double it
But i havent been able to cinnect yet

1 Like
#11

Me ha parecido excelente la ampliación de G$ a CELO más oportunidades de darle uso a G$ y desarrollar un sistema más grande para el beneficio de los usuarios

2 Likes
#12

Yes increase please. Everything I’ve seen and researched looks GOOD. Keep the money train rollin!!!

2 Likes
#13

Great could be great to increase in Celo

3 Likes
#14

I can’t connect with celo

1 Like
#15

to Claim you have to export your gooddollar wallet to a compatible wallet like metamask or Bitkeep tutorials here / sell after you have your wallet ready now you must add the Celo network tutorials here / network after you have the Celo wallet and network ready now enter your wallet browser and enter your wallet browser with the following link http://gooddapp.org and you can now claim

3 Likes
#16

How do you claim in celo

#17

to Claim you have to export your gooddollar wallet to a compatible wallet like metamask or Bitkeep tutorials here / sell after you have your wallet ready now you must add the Celo network tutorials here / network after you have the Celo wallet and network ready now enter your wallet browser and enter your wallet browser with the following link http://gooddapp.org and you can now claim

2 Likes
#18

Looks like http://gooddapp.org/ is down? I have not been able to access it for about 24 hrs.

" This site can’t provide a secure connection gooddapp.org sent an invalid response.
ERR_SSL_PROTOCOL_ERROR "

#19

check your connection, clear your smartphone or pc cache and try again

#20

Hi! Just some comments from muy side as If find many of the motivations to be missleading to the audiencia here:

Matematically speaking, this is not astonishing at all, you guys started from 0% few days ago, increasing few hundreds users per week is expected, but as usual for my own perspectiva, it seems you are sharing “beautiful numbers” instead of the relevant numbers. E.g. 5k active users on Celo is around 10% of the total G$ users, and you are not bringing clarity about this metric.

10% of active users on Celo is not atonishing at all, specially if these guys are already receiving more on this chain.

GoodDollar is about equality and inclusivity as a core values, and in my take this values should be the driver of any decision we do. This change seems to go against that as we would be actually taking more from those that are actually more and are receiving leas.

Yep! I have also seen a lot of enthusiasm on the social media, and I think it’s great! I just hope this change is not coming from a confirmation bias the team has to move to Celo, specially if they are not sharing a complete set of relevant metrics.

I have deep concerns about this since I don’t believe the main cultural components about GoodDollar are being properly respected. Fair distribution and inclusivity shall come first, for doing this I believe a proper Gini coeficient analysis among the participants in the two networks have been evolving (and proyections about how they can actually evolve depending on the numbers you choose) like to know or not if we are able to properly take this decision.

IMHO the main benefactor of this change (besides that 10% of active claimers that have the capacity to receive double UBI) is Celo Network, as this means more value in their ecosystem. If increasing the reward is a real Goal from @goodanna and her team, I would insist in making an open invitation yo Celo to bring more

I make an open call to Vote NO, at least

1 Like