Glo Dollar New

Active
Launched 2023; Glo Dollar 2.0 (holder-directed yield) Apr 2024

Glo Dollar (USDGLO) is a nonprofit, fully reserved dollar stablecoin. Its reserves sit in cash and short-term US Treasuries, and all the yield goes to charity: by default to GiveDirectly's basic income program in Africa. Holding Glo therefore funds basic income indirectly.

https://www.glodollar.org
Blockchain

Ethereum, Polygon, Celo, Optimism, Base, Arbitrum, Stellar

Social identity

None for holders; GiveDirectly selects recipient villages and people

Social mining

Reserve yield is donated; GiveDirectly pays ~$30/month to people in poor African villages via mobile money (the recipients are not paid on-chain)

Token economics

1:1 USD-backed stablecoin; impact grows with circulation

Governance

Glo Foundation (nonprofit); holders choose which charity gets their yield (AutoPGF)

Locations
Worldwide (funding)
Africa (GiveDirectly recipients)
Links
Glo Dollar 2.0 (Apr 2024)
Reserves: cash and US Treasuries
EA Forum intro
Notes

Borderline: a crypto funding mechanism for basic income rather than an on-chain distribution