Glo Dollar is a fiat-backed stablecoin designed to combat extreme poverty by donating all its interest earnings to provide basic income for those in need. Overseen by the Glo Foundation's governance council, it ensures security with hardware wallets and succession plans. The unique AutoPGF model directs reserve yields to public goods and charities. Glo Dollar raised $2 million from Sytse Sijbrandij.
Value Proposition:
Glo Dollar offers a unique value proposition by combining financial stability with social impact. It is a fiat-backed stablecoin designed to fight extreme poverty through a zero-cost philanthropy model. Unlike traditional stablecoins, Glo Dollar donates 100% of its interest earnings to provide a basic income to people living in extreme poverty.
Governance:
The Glo Foundation oversees the issuance and management of Glo Dollar, with a dedicated governance council that includes the co-founders and additional recruited members. This council is responsible for making key decisions, and it includes safeguards such as hardware wallets and succession plans to ensure continuity and security
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Tokenomics:
Glo Dollar uses a unique model called Automatic Public Goods Funding (AutoPGF), where the yield generated from the reserves backing the stablecoin is directed to fund public goods and charities.
Previous Funding:
Glo Dollar raised $2,000,000 in a funding round from Sytse Sijbrandij.
