Progress Report: Mining Pool Launched; Monthly Basic Income Distribution Begins August 1

The Grantcoin Foundation is pleased to announce more progress on the technical side of our project: A new Grantcoin mining pool has been launched, tested, and is working. Check it out at pool.grantcoin.org.

Thank you to Mark Witham, CTO/lead dev, and members of the Grantcoin community who helped with testing. Thank you also to our donors who helped fund the development of this important resource. We couldn’t have done it without you!

We are also pleased to announce that we’ve decided to switch from quarterly to monthly distributions of basic income and referral bonuses, starting in August. The next distribution will take place on August 1. The new, fully automated distribution system that we rolled out in June has enabled us to increase the frequency of Grantcoin distributions without burdening our team, because the new system requires so little human labor.

In switching to a monthly distribution schedule, we are NOT increasing the amount of Grantcoin to be distributed. We will continue with a 3.5% annual increase of the money supply through basic income distributions, same as before. The only difference is that the currency to be added into circulation each year will be broken into smaller amounts to be given out each month instead of larger amounts each quarter.

If you haven’t signed up yet, or you want to refer someone to be included in the August 1 distribution, the deadline is July 31 — tell them to sign up today!

Quick update on the relaunch of Grantcoin as Manna: Our team is honing in on some key details, such as phases and components of the relaunch, and how the crowdfunding campaign will be conducted. Some things will be built with the resources we already have, and other things will require additional funds to be raised. We’re confident that the roadmap we’re developing will be technically and legally sound, with exciting new aspects of the project to be rolled out to the public as early as September. Stay tuned!

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