Reserve & Distribution Plan
The founders of Grantcoin gave a founding gift of 10 billion Grantcoin (GRT) to the Grantcoin Foundation, which the organization holds in reserve. This is over 99.5% of all Grantcoin that has ever been created. The remainder is being created through cryptographic mining to reward users for maintaining the Grantcoin public ledger.
The Grantcoin Reserve will be gradually released into circulation during the next 50 years.
Reserve categories and amounts to be distributed:
- Basic Income Grants: 80% (8 billion GRT) — The vast majority of the Grantcoin held by our organization is earmarked for our charitable mission, to provide a Universal Basic Income to the people of the world.
- Growth Incentives Fund: 10% (1 billion GRT) — Small amounts of Grantcoin will be given to thousands of people and organizations that help the Grantcoin network grow and develop around the world, such as volunteers and incentives to encourage merchant adoption of the currency.
- Administrative Fund: 10% (1 billion GRT) — This includes payments of Grantcoin to founders and independent contractors, and sales of Grantcoin to supplement funds received from charitable donations. Note: The three founders of the Grantcoin Foundation received a total of 2.7% from this fund for a year of work to create and manage the Grantcoin project. This amount takes into consideration the fact that each of the founders donated several thousand dollars of startup capital to fund the organization, and will not be repeated after the first year (2015). The founders plan to give most of their Grantcoin away to charity and have already begun doing so.
- Grantcoin Reserve Wallets (.xlsx spreadsheet) — Detailed information about the wallets that comprise the Grantcoin Reserve, including categorical descriptions, wallet addresses, and the exact amount of Grantcoin initially allocated to each one.
- Policy on Financial Recordkeeping and Security (.pdf) — Includes information about management of the Grantcoin Reserve.