💰Universal Basic Income (UBI)

Universal Basic Income (UBI) represents an individual user’s claim on the value produced by, and within Galactica Network. It is distributed to citizens based on reputation scores.

Galactica Network’s reputation systems quantify an individual's contributions to the protocol and the community - Citizenry and otherwise, making UBI distribution merit-driven as opposed to wealth-driven. Galactica functions as a self-evolving protocol locked in a continuous positive feedback loop that rewards individuals proportionally to their merit through UBI. Key aspects of UBI design include: distribution in the form of a basket token backed by a pool of tokens/coins, pool composition determined by factors like $GNET inflation, tokenized Intellectual property, grants, and other investments, and UBI distribution being linear in merit and sublinear in $GNET stake.

Participants are eligible to receive UBI on the Galactica Network when they satisfy the following conditions:

1. A user must have non-zero Voting Power, i.e. have Citizenship and some $GNET stake;

2. A citizen must possess proof of their active participation in the governance process. This can involve direct participation, such as being a member of the governing bodies, or indirect participation, such as voting on referendums.