Basic Income Grants
Grantcoin is the first currency to be primarily distributed as a Universal Basic Income. The Grantcoin Foundation believes that access to the money supply whenever money is created should be a universal human right, not a privilege.
Each year, we plan to add 3.5% to the Grantcoin already in circulation. This will be given as Basic Income grants to everyone in the world who chooses to participate, growing the money supply in a way that provides equal access to all.
Basic Income grants are distributed quarterly. The first distribution was on June 30, 2016, and the second was on October 1. The next distribution will occur in late January 2017. Sign up by January 21 to be included!
Once you’re a verified participant in the Basic Income grant program, we’ll send you a referral code that you can give to anyone you invite to sign up for the program — your family, friends, coworkers, acquaintances, friends and followers on social media, etc. Tell them to enter the code in the signup form, and both of you will receive a bonus!
- You will get a bonus of 100% extra Grantcoin the first year (four quarterly Basic Income grants) for each person who signs up with your code. (Example: You persuade 10 people to sign up, and all of them use your code when they get verified. Instead of getting X amount of Grantcoin Basic Income your first year in the program, you will get 11 times X.)
- They will get a bonus of 50% extra Grantcoin their first year in the program, just for remembering to use your referral code. We will also give them a code of their own, to give to people that they invite to sign up. (This is not multi-level marketing. You only get a bonus for signups one level down from yourself.)
The purpose of these referral bonuses is to encourage Grantcoin to go viral. The more people who find out about the currency and sign up for the Basic Income program, the more successful Grantcoin is likely to become. More businesses will be willing to accept it as payment, more people will buy it, save it, and spend it, and its value and usefulness may increase exponentially according to a well-known principle called the network effect. This principle is especially relevant to social institutions such as currencies, which require participation from large numbers of people in order to gain legitimacy and go mainstream.
Frequently Asked Questions
- How much are the grants worth, and how does Grantcoin get its value? Please read this article for a detailed explanation of these issues: Value and Growth of Grantcoin Basic Income: Facts, Expectations and Possibilities
- Can I sign up for Grantcoin if I’m not in financial need? Yes, and we encourage you to do so. You may wish to save the Grantcoin Basic Income as a long-term investment for your children or grandchildren, or give it away as a gift to a friend or relative who could benefit from it more than you can. If you’re financially secure and want to support the Grantcoin project and help it to grow, the best way is to do all of these things:
- Sign up for Grantcoin Basic Income.
- Tell people about Grantcoin by giving it to them.
- Donate to the Grantcoin Foundation. We use most of the value of donations to support the market price of the currency, to ensure that it will retain value for grant recipients who need to spend or sell it.
- Buy Grantcoin on exchanges. When a needy recipient of Grantcoin Basic Income wants to cash it out, you might be on the other end of that trade, and they’ll get a better price than they would if you weren’t buying.
Possible Future Developments
Here are two ideas we have for improving the Grantcoin Basic Income program that may be implemented in 2017 and beyond:
- Crowdfunding through voluntary re-granting of Grantcoin: Basic Income participants may choose to designate some or all or their grants to be distributed to selected recipients, such as artists, people in poverty, and others who may especially benefit from the funds.
- Tax-deductible direct giving through Grantcoin: Donors may earmark tax-deductible donations to the Grantcoin Foundation for distribution of equivalent value of GRT to Basic Income participants, or to selected recipients, at any time. The Foundation will support the market price of Grantcoin up to the value of the donation. (Example: If GRT is worth $0.01 and a donor gives $1,000 earmarked to the program, the Foundation will distribute 100,000 GRT in grants and support the price of GRT at $0.01 until $1,000 worth of GRT is sold at that price, if necessary.) This will be a very efficient way for people to give money away directly to large numbers of recipients at once.
Terms and Conditions: Grantcoin Basic Income is distributed as charitable gifts to verified participants at the sole discretion of the Grantcoin Foundation. Each human being is allowed only one account for receiving Grantcoin Basic Income. Incorporated entities or organizations are not eligible to receive Grantcoin Basic Income, except on behalf of identifiable human beings to whom the Grantcoin shall be given, but may earn referral bonuses for referring individuals to become verified participants in the program. Applicants for Grantcoin Basic Income consent to receive relevant information, updates and news from the Grantcoin Foundation by email. Applicants for Grantcoin Basic Income consent to have an account on the Ekata Social platform, which is created for them as part of the Grantcoin signup process, but are not required to use Ekata Social for any other purpose. The Grantcoin Foundation reserves the right to deny applications or close accounts for Grantcoin Basic Income for any reason at any time, including but not limited to: failure by an applicant or participant to provide verification or confirmation of existence as a unique human being to the satisfaction of the Grantcoin Foundation; suspicion of unethical or illegal activity by an applicant or participant which could undermine the integrity or reputation of the Grantcoin Basic Income program or the Grantcoin Foundation; failure by a participant to provide the Grantcoin Foundation with up-to-date contact information and to reply when requested to important communications from our organization, or unsubscribing from Grantcoin Foundation email lists through which such communications may be sent. These terms and conditions may be revised at any time and will be published on grantcoin.org.