Cryptocurrency investment platform eToro has committed $1 million to the GoodDollar universal basic income protocol, supporting the nonprofit’s effort to bridge the global wealth gap through DeFi and smart contract technology.
The additional capital will aid GoodDollar in expanding its protocol and introducing more recipients to cryptocurrency, eToro announced Wednesday. The GoodDollar system works by capturing the interest generated by staking donors’ contributions in leading DeFi protocols such as Aave and Compound. That interest is then distributed to a global community via GoodDollar tokens.
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