# A stablecoin that generates basic income for people living in extreme poverty (less than $2.15 per day)

Simply by owning money in the form of Glo Dollars, you generate new money which then goes to people living in extreme poverty. Sounds magical? The model is quite simple.

Think of Glo as an alternative version of the US dollar with an added property: it lifts people out of extreme poverty. Glo presents a new way for individuals and businesses to help fight extreme poverty. You can participate by swapping some of your normal money to Glo.

Holding Glo = donationless philanthropy. When you swap from USD ⇄ USDGLO, you help us make more money. We donate all of this to basic income programs for people living in extreme poverty. This costs nothing to the Glo Dollar holder.

![Using Glo Dollars as money is donationless philanthropy](https://i.imgur.com/a6HbGrR.png)

With time, we expect to lift one person out of extreme poverty for every $20,000 of Glo Dollar market cap. At the size of Tether’s USDT, Glo would generate over $2 billion in basic incomes and lift over 4 million people out of extreme poverty.

![As Glo adoption grows, more people get basic incomes](https://i.imgur.com/Dtp7mxY.png)

# A collective of 30+ members is embedding philanthropy already

Since our launch in the summer of 2023, we’ve grown Glo Dollar to a $2.3 million stablecoin.

Our growth owes much to the Glo Consortium, a collective of 30+ organizations. They've been actively incorporating philanthropy into their operations in different ways:

They’re making it possible to run much of your financial stack on Glo–including fiat payments, corporate Visa credit cards, Glo payrolling, and Glo accounting. Donation platforms like Endaoment, Giveth, and Donorship boost philanthropic impact by supporting Glo Dollar. On these platforms, you can now donate in Glo Dollars. Lastly, a growing list of organizations is holding Glo Dollars in their treasury.

![Glo Consortium Ecosystem (B2B)](https://i.imgur.com/kjgzTw6.png)

All the money converted to Glo contributes to our mission. Our operational costs are generously funded through donations (see funding sources above).

# How Glo benefits the Polygon Ecosystem
Our objective is to accelerate embedded philanthropy into Polygon's infrastructure, while improving stablecoin diversity. 

# How this grant will help us
The funds raised will primarily go towards establishing partnerships with projects in the Polygon ecosystem. In particular, funds will be used for:

**1. Improving stablecoin diversity**. We’ll actively forge partnerships with Polygon projects looking to build with Glo Dollar such as with Giveth, who accept donations made in USDGLO.

**2. Gitcoin round funding other projects building with Glo Dollar.**

**3. Expansion of the Glo Consortium**. We’re out to make Glo Dollar more ubiquitous by inviting more Polygon projects to join the Consortium.