(US) Introducing Comingle: An opt-in UBI (Universal Basic Income) to provide a stable weekly income based upon users contributing 7% of their income ( comingle.us )

BlinkerFluid , 9 months ago (edited 9 months ago)

It’s been done in the crypto space over defi before, and in some regards, you could consider this a fiat version of PoolTogether, but everyone wins.

The thing with Defi liquidity pools vs this is, you know what a place like PoolTogether or Curve is doing to generate revenue, by offering your liquidity for fees and generating a profit from transactions.

You sell, I dunno, MATIC for ETH, someone has to supply the ETH, someone being the pool members, and they collect the fees for the transaction. It’s just how defi works.

Banks work similarly, with firms using deposited money in the stock market, generating revenue for the bank.

You know what they’re doing. You deposit for the security and insurance a bank provides. For crypto, the yield and gains the pools provide.

For this… ?

Unless they’re more open, unless they’re really a charity and this isn’t a front, I have my doubts on the longevity of this project. Someone will always want theirs, and if it isn’t at the beginning, it will just corrupt later.

centof OP , 9 months ago

It is very simple what they claim to do with your money: Average out the contributions and pay it back to its members. I would agree that when implemented you would need some transparency to show that the company isn’t taking more the agreed upon amount. As far as their ownership they claim to be organizing to prevent exploitative capital.

From the about page.

A New Kind of Company for a New Kind of Economy As we solidify our corporate structure, we’ll be adopting a steward-ownership model in which profits serve the mission of the company and protect it from extractive-capital. With legal safeguards built into the company’s DNA, investors are fairly compensated with capped returns while decisions remain in the hands of a core, purpose-driven team along with all Comingle members.

BlinkerFluid , 9 months ago

Well yeah, it’s extremely probable what they claim. It’s right there. I’m not discussing claims, I’m discussing the reality. They will need to prove themselves regardless of claims.