Let's talk about GiveDirectly💸, a charity we love.

They're one of the best & fastest-growing charities on earth.

And they solve a core problem for glo_coin: getting cash into the hands of people who need it.

A 🧵:

As a reminder, the Glo model:

★ Y'all buy Glo, a stablecoin
★ Glo is fully backed by reserves of cash & short-term Treasury bills
★ T-bills earn yield (~3.4%)
★ We give 100% of yield to GiveDirectly to deliver in fiat

At first, we worried a lot about distribution.

There are billions of people on Earth for whom $1/day would be transformational.

Getting them onto crypto networks is going to be *hard*.

Not unsolvable, but also not going to happen overnight.

But then we thought: let's not reinvent the wheel here.

GiveDirectly💸 already solved this problem.

They use mobile technology to get cash into the hands of people living in extreme poverty.

We give $ to them, they get $ to recipients.

That's it. That's the whole thing.