[GIP 14.1] Increase Distribution on Celo Blockchain

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] 20 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 139.

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.