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Polygon Labs just bought $150K of Glo Dollars to fund public goods. The purchase was facilitated with the assistance of 1Konto, our partner for OTC liquidity services.

‍Polygon Labs develops Ethereum scaling solutions for Polygon protocols, and engages with other ecosystem developers to help make available scalable, affordable, secure, and sustainable blockchain infrastructure for Web3.

Polygon Labs funds public goods by holding Glo Dollars

Here's how that works:

1. The fiat backing Glo Dollar is invested and earns revenue

2. We donate 100% of our profits to public goods and charities

3. ^{Glo Dollar users—Polygon Labs in this case—fund public goods}

At zero cost to Polygon Labs 🪄

Thank you, Polygon Labs 🫡

Thank you, Polygon Labs, for taking a pioneering step.

To change the world for the better. By funding public goods.

‍

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

Polygon Labs and Glo Dollar

Polygon Labs buys $150,000 of Glo Dollars to fund public goods

With this move, Polygon Labs pioneers zero-cost philanthropy and helps us unlock $7.4 billion/year for a better world.

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

Polygon Labs just bought $150K of Glo Dollars to fund public goods. The purchase was facilitated with the assistance of 1Konto, our partner for OTC liquidity services.