Dailycoin

Dailycoin (XDL) is an Universal Basic Income (UBI) digital currency that grants 1 XDL per day, forever, to every person.

Dailycoin is implemented as a token contract on the EOS mainnet.

Dailycoin is similar to Telos ACORN, but restricted to EOS accounts that have signed up for Voice.

Project news, discussion and technical support are provided by the Dailycoin Telegram Channel.

Current status

As of September, 2019, Dailycoin needs Voice to be released, which in turn needs the EOSIO 1.8 hard fork to be deployed to the EOS mainnet.

The dates specified in this page may change if Voice takes too long to be released (I'm randomly expecting Q1 2020, which may be somewhat optimistic).

How to sign up to Dailycoin

The easy way:

  1. Sign up to Voice, which will verify your identity and bind it to your EOS account;
  2. Have someone else send 0.0001 XDL to your EOS account, then send it back to them.

Alternatively, you can replace Step 2 above with an invocation of the claim() action in the Dailycoin contract, passing your own EOS account name as the sole parameter to the action invocation.

Whenever you send XDL to someone or invoke the claim() action, you get paid all the coins you're entitled to.

Software

The Dailycoin code repository is on Github.

The Dailycoin contract will be deployed to the EOS mainnet account dailycoineos.

Distribution

1,000,000 XDL will be minted and donated to the Quatinga Velho Basic Income Startup mutual fund, which is democratically managed by the over 100 residents of Quatinga Velho, Brazil. The coins will be managed by ReCivitas, the NPO behind the pioneer Quatinga Velho Basic Income program since 2008.

360 XDL will be minted as a bonus to every person that successfully claims their first XDL income before January 1st, 2021 UTC.

After that, XDL will only be minted at the usual rate of 1 XDL per EOS Voice user, per day, forever.

Users can only claim at most 360 XDL at once. For example, if an user is inactive for 2,000 days and then decides to claim pending XDL, they will only claim 360 XDL. The other 1,640 XDL are forfeited.

Philosophy

1 XDL represents the basic amount of income that a person should receive to support a dignified life for a day.

It is up to people to decide whether Dailycoin should increase in value, by buying it, or decrease in value, by selling it.

You can buy Dailycoin with other money, or you can realize it by providing physical goods and services in exchange for it. With either, or both, you will be part of a movement that is directly implementing the ideal of an Universal Basic Income in the real world.

If users feel a need to deflate the currency supply, that can be accomplished by individual users invoking the burn() action in the Dailycoin contract to destroy some of their own money.

Smart contract authority management

The contract account will initially be managed by me (Fabiana Cecin).

When we are confident that the contract code is final, the contract account will be set to "immutable," that is, its active and owner keys will be set to zero. The sooner that is done, the better. We expect immutability before February 2021.

Trading XDL before contract immutability is not recommended.

If the account is set to immutable and changes are later needed, the community can either just fork the ledger and rename the currency (which is easier) or use EOS governance to restore access or update the account (which is harder).

Legal statement

Dailycoin is free software that is developed and operated without charge for the benefit of the public. Dailycoin developers and operators offer NO WARRANTIES and NO GUARANTEES of any kind to Dailycoin users.

Contact

Dailycoin is maintained by Fabiana Cecin.