Create a smart contract where anyone can donate. Donations are invested by the contract into DeFi or PoS. Earnings are used to buy UBI and the UBI is immediately burned by the contract. Such a contract could be created by anyone independently of Democracy Earth and/or managed by the DAO. In fact it would be best if there were multiple contracts with different investment models and governance for the funds. (Key variables are: what to invest in, whether the contract is upgradable, whether the donor can stake/unstake to move the funds as the investment landscape changes.) All doable on Ethereum today.
This would create a sustainable deflationary pressure on the UBI token or think of it as creating constant demand for people who want to trade their UBI for other tokens.
Donors could make pledges for when registered users hit different milestones to incentivize vouching and growth.
This would be a simplification of what GoodDollar does. See the
DonationsStaking.sol contracts for working examples of something similar:
Inspired by GoodDollar and this tweet:
In stead of all of the platforms burning tokens they could send them to this trust to create more crypto natives and build the whole ecosystem which will create more value for everyone.
@bebopster I like this model a lot and been thinking about that tweet as well. Would you be interested in drafing it as a HIP proposal?
I like this model a lot and been thinking about that tweet as well. Would you be interested in drafing it as a HIP proposal?
Sure, I could take a swing at that. Is it ok that I haven’t registered in PoH yet? (Just waiting till it is easier to get a vouch since I don’t know anyone.) Are there any guidelines or should I model it based on the ones that are already posted?
Thanks! I’ll sign up tomorrow and post a link here.
Oh damn, look at me inspiring things. Nice.
Hey @bebopster, I have also been thinking that and have already begun a network for re-investing 50% of UBI so that it can fund proposals through a DAO for three main aspects:
- Volunteering missions for solving global/local issues.
- Education scholarships.
- Building more public infrastructure.
The idea is to have a reputation system that re-starts every month so that everyone has the same opportunity to benefit from the rewards.
This reputation system will re-pay in three levels to UBI investors, depending on the reputation gained:
Level 1: From 0 to 33%. The same $UBI gave is returned.
Level 2: From 34 to 66%. The person will receive back from the minimum of the UBI gave + 5% to a maximum of $1,000 DAI.
Level 3: From 67 to 100% Will receive back from the minimum of the UBI gave + 10% to a maximum of $2,000 DAI.
What I am doing is facilitating the access to PoH from signing up to receiving it in their bank accounts, along with tax (fiscal) help. I am currently doing the whole thing but will be great if it could be done through smart contracts and collective participation.
Reach me out if you are up to do this, I am full on the subject, I even registered to Santi’s DAO Education course to make this the most professional and close to the vision as possible.
Oh wow, this sounds amazing. I work with climate change non-profit and I have been wracking my brains trying to see if there’s a way to use UBI to fund grass roots activities (not political) to tackle the crisis at its source. This could be an ideal solution. On another note - Santi does a DAO Education Course? Pray tell more…
https://dao.education/ tomorrow starts the course! Hurry up to join, will be great to work together there and join ideas for making this happen.
Telegram: Contact @HBesso31
Looks great. But in Spanish? No English?
Another good reason to learn Spanish hehe
Aargh, that’s so unfair. I would if I could. But I am hopeless. Heh.