Terms Of Use – GoodDollar

Last Updated: January 11, 2022

These Terms of Use, together with the referenced documents (together hereinafter: the “Terms”), govern your use of our website www.gooddollar.org (the “Website”), our mobile and desktop apps, which may include a non-custodial e-wallet, which will be provided by a third party, as further detailed below (the “Wallet”), the Claiming Site (as defined below), the GoodDollar account (the “Account”), the GoodDollar tokens (“GD Tokens”), and a third party marketplace, powered by www.sharetribe.com (“Sharetribe”) which all may be available via our Website (together: the “Services”).

Please read these Terms carefully before using our Website or Services. By using our Website or Services, you (“User”, “you”, “your”) indicate that you accept these Terms and agree to abide by them. If you do not agree to any of these Terms, please refrain from using our Website or Services.

GoodDollar shall be entitled to modify, change, or amend the Terms at any time in accordance with its governing law and regulations. GoodDollar shall post the amended Terms on the Website, stating the date of the last amendment, and you are advised to check for any such updates from time to time. To the extent that any such amendment imposes material obligations on users and/or would require their preparation or action, GoodDollar shall give reasonable advance notice before such amendment comes into force. Your continued use of the Website, Services, and/or GD Tokens granted to you as a GD Grant, following any amendment to these Terms constitutes your acceptance of the amendment and consent to be bound by the amended Terms. In the event you do not accept any amendment, your sole and exclusive remedy shall be to cease using our Website, Services, and/or GD Tokens granted to you as the GD Grant.

  1. Information about Us

We are GoodDollar Limited, a not-for-profit company limited by guarantee, registered in the United Kingdom, registration number 12020199, having its registered office at 29/30 Fitzroy Square, London W1t 6lq, United Kingdom (“GoodDollar” “We“, “Our“, “Us“).

  1. Age Restriction

By using our Services, you represent and warrant that you are 18 years of age or older. If you are not 18 years of age or older, you must not access our website or use any of our Services.

  1. Gooddollar’s Vision

GoodDollar’s vision is to allow sustainable income and financial literacy to the people who need it the most. GoodDollar mission is to develop a new blockchain-based internet platform and protocol, for generating and distributing universal basic income (“UBI”), in a form of free GD Tokens periodical grant (“GD Grant”). We achieve this through smart contracts coded and deployed to the Fuse blockchain which is a sidechain of the Ethereum network (“Fuse”), in order to facilitate the issuance, holding and transfer of GD Tokens.

The GD Grant will be distributed to users by allowing them to claim GD Tokens periodically, provided they have verified their unique identity using an identity verification software, via the Service. To learn more please read our whitepaper.

  1. Gooddollar Protocol

GoodDollar Protocol comprises smart contracts infrastructure governing the reserve, issuance and distribution of GD Tokens to users. The smart contracts allow third parties to stake certain cryptocurrencies on an Interest-Bearing third party Lending Protocol such as Compound.finance and contribute earned interest to GoodDollar’s reserve (“Reserve”). The smart contract will generate new GD Tokens on a periodical basis out of the Reserve, in accordance with GoodDollar’s formula that is published on the Website. The newly issued GD Tokens will then be distributed among Users in form of the GD Grant, to users who have made a UBI claim, in accordance with these terms and conditions.

For more information, please see our whitepaper

  1. Our Services

GoodDollar enforces a one-user one-account policy, so that only fully registered users may be able to claim the GD Grant through the GoodDollar claiming site (the “Claiming Site”). For you to sign up to our Claiming Site, you must, through our Website, register, by either using your Facebook or Google account profiles, or register with your email address and/or mobile phone number.

The registration to the Claiming Site, allows the users to access the following Services, which may be provided to you by us and/or by a third party, as described below:

(A) The Fuse Wallet enabling you to store GD Tokens,; and

(B) Claiming the GD Grant, via the Claiming Site; and