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Glo Q2 2023 update

We launched Glo Dollar! Pretty much everything we did last quarter was to help make that happen.

by
Seth
Green
July 19, 2023
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Launching Glo Dollar (with Brale)

Hi! From March-June of 2023, the Glo Foundation team was busy getting ready to finally launch our flagship product, Glo Dollar… and we did it! Glo Dollar is now officially live.

You can see our market cap counter on the top of glodollar.org now:

And you can read more about how we selected our issuance partner, Brale, and how the relationship works, here.

A big part of getting ready for launch was updating our website to reflect some ways in which Glo Dollar has evolved over time—for instance, clarifying that we donate all of our revenue from the coin to GiveDirectly, but we also share earnings from the reserves with Brale so that they may cover the costs of issuing the coin; and we also clarified that we haven’t made any donations yet. 

So we updated:

This was a big effort involving marketing, operations, and legal, and we’re very happy with how things turned out.

Upgrading our smart contract

Another critical component for launching was upgrading our smart contract to V3. The main reason we upgraded the code was to address a critical security issue (it would have allowed people to mint unlimited Glo Dollars by sending a balance to themselves). We also built a ‘permit’ feature, which allows web3 apps to request approval to spend users’ tokens without their needing to pay gas. You can read more about these changes, and how we have modified our change process,  in a blogpost from Garm Lucassen, our CTO.

Next up is getting Glo Dollar available on exchanges, which means working with market makers, liquidity providers, and OTC desks to make Glo Dollar available to consumers..

Other things we did:

P.S. Right now we’re in Paris for EthCC,and we’re  looking forward to telling y’all about it when we get back.

This could be the info box

In this program, GiveDirectly identifies impoverished African villages to give their citizens $30 per month, transferred via mobile money technology, for 3-5 years. For people living on less than $2/day this is a transformational amount.
Glo's economic model is to invest its reserve in short-term Treasury bills and give the proceeds away entirely to GiveDirectly.

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Articles
Glo Q2 2023 update

Glo Q2 2023 update

We launched Glo Dollar! Pretty much everything we did last quarter was to help make that happen.

Everyone on this page is going to buy Glo at launch 👇

Launching Glo Dollar (with Brale)

Hi! From March-June of 2023, the Glo Foundation team was busy getting ready to finally launch our flagship product, Glo Dollar… and we did it! Glo Dollar is now officially live.

You can see our market cap counter on the top of glodollar.org now:

And you can read more about how we selected our issuance partner, Brale, and how the relationship works, here.

A big part of getting ready for launch was updating our website to reflect some ways in which Glo Dollar has evolved over time—for instance, clarifying that we donate all of our revenue from the coin to GiveDirectly, but we also share earnings from the reserves with Brale so that they may cover the costs of issuing the coin; and we also clarified that we haven’t made any donations yet. 

So we updated:

This was a big effort involving marketing, operations, and legal, and we’re very happy with how things turned out.

Upgrading our smart contract

Another critical component for launching was upgrading our smart contract to V3. The main reason we upgraded the code was to address a critical security issue (it would have allowed people to mint unlimited Glo Dollars by sending a balance to themselves). We also built a ‘permit’ feature, which allows web3 apps to request approval to spend users’ tokens without their needing to pay gas. You can read more about these changes, and how we have modified our change process,  in a blogpost from Garm Lucassen, our CTO.

Next up is getting Glo Dollar available on exchanges, which means working with market makers, liquidity providers, and OTC desks to make Glo Dollar available to consumers..

Other things we did:

P.S. Right now we’re in Paris for EthCC,and we’re  looking forward to telling y’all about it when we get back.

Alexander Drummond
Director of Partnerships
Deborah Lightfoot
Head of Finance & Reserves
Lisa LoGerfo
General Counsel
Marcia Blacken
Head of Operations
Garm Lucassen
Co-founder & CTO
Jeffrey Milewski
Co-founder & CEO
Jasper Driessens
Co-founder & Head of marketing
Bram Voets
Growth
Alexander Drummond
Director of Partnerships
Deborah Lightfoot
Head of Finance & Reserves
Lisa LoGerfo
General Counsel
Marcia Blacken
Head of Operations
Garm Lucassen
Co-founder & CTO
Jeffrey Milewski
Co-founder & CEO
Jasper Driessens
Co-founder & Head of marketing
Bram Voets
Growth

Worldwide   •   Full remote

Worldwide   •   Full remote

Worldwide   •   Full remote
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