CENTUS Universal Basic Income

Image for post
Image for post
Universal Basic Income

We are living in unprecedented times: The Covid-19 virus is spreading rapidly all over the world, it undermines the foundations of the global economy, and therefore threatens our community.

And just as pandemics cannot be combated with conventional health measures, economic collapse requires more effective solutions than traditional anti-crisis tools.

Throughout the world, businesses suffer serious losses, people lose their jobs, self-employed cannot find clients; mortgage payments are not paid, savings run out, rent is not paid. Countries in which the vast majority of the population works in the private sector suffer especially hard, because people have practically no social protection and must only rely on their own earnings.

The economic system can function properly only in conditions of continuous movement, but now it is stopping. Without the decisive governments intervention, a huge number of people will suffer: enterprises will close, unemployment will rise sharply, a sharp recession will begin in the economy, and possibly even the second Great Depression.

At this difficult period, in time of crisis, CENTUS decided to introduce an extraordinary universal basic income for all active members of our seigniorage network. We want to increase our participants’ own incomes so that each of them has more funds for their normal life activities. This is our contribution to the international community’s collective efforts to combat the crisis.

In the near future, the CENTUS Basic Income Foundation will be established specifically for these purposes, from which basic income accruals will be paid. Before the Fund is established, accruals will be temporarily paid from the CENTUS reserve.

At the initial stage, a partial basic income is introduced. Each participant who has CENTUS bought with their own money on their Stellar wallet, will get + up to 2% of their balance amount in addition to a normal seigniorage payment. Any rewards received through the affiliate program, bounty program, other promotions or other exchanges will not be included in the basic income program at this stage.

However, in the future, upon completing the accruals process testing and as the seigniorage network develops, it is planned to switch to unconditional basic income model and pay the minimum amount in absolute terms to each active CENTUS participant, for example, from $50–100 up to several hundred U.S. dollars.

Please keep in mind that not every person registered in CENTUS will be able to claim unconditional basic income. To get eligible, you need to be closely involved in the project and contribute to its development by any available means, whether it is a purchase of tokens or moderate involvement in CENTUS promotion activities. With bonuses accumulated for this contribution, a person can qualify for the status of an active CENTUS participant, and, accordingly, for monthly basic income.

The final basic income amount will be determined by the testing stage results.

We believe that the introduction of CENTUS unconditional basic income will play an important role in urgent response to the economic crisis, and we hope that it will help many of our participants.

The basic income payouts will begin shortly.

Written by

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store