Economics

What if you could create and exchange your personal currency but use it under common rules?

In Circles, each user issues 1 CRC per hour of their personal currency, which can be exchanged within a trust-based network.

UBI is a financial model that provides regular, unconditional payments to individuals. Circles implements this concept through its personal currency system.

Try it with Metri wallet (beta) 
https://app.metri.xyz/install

You’ll need someone to trust you to start earning CRC or have @gnosispay 💳 which is integrated.

https://www.aboutcircles.com/faq

What if using a wallet could earn you UBI instead of all kinds of crazy points? And you don’t even have to do quests or streaks to earn it?

unreal reality  /misha 🪨 mishaderidder.eth.limo glitch.mishaderidder.com 

the system is great in theory, but in practice it's highly inflationary and all users who receive CRC have strong incentive to offboard value from the system immediately

artist and software developer, mother of lifeforms, dreaming of systems so perfect that no one will need to be good 🏴

did you have first hand experience? 

i know they seriously tried it in Berlin some time ago, and now it seems they’re giving it another try. 

but I must admit it sounds to good to be true. maybe they should require to stake a part of the CRC for a set time period before you can spend it.

ya lol, I wrote the v1 smart contracts, and then co-founded the dev coop that maintained it through the Berlin pilot. I don't know as much about v2, but my understanding is the core economic assumptions are the same

nice! 

I had read about Circles and was always wondering. Then I recently installed Metri wallet and when you connect your Gnosis Pay it starts giving you daily CRC.

We installed it all at home and thought first to try it with the fam but then thought twice, didn’t want to hyperfinancialise my household ha ha 😅 

Anyway would love to try it some day in a broader community.