Program Conditions: money without obligations

The pilot project involves 160 residents from the New York neighborhoods of South Bronx and East Harlem. Payments are made in USDC - a stablecoin pegged to the US dollar at a 1:1 ratio.

The scheme for distributing funds differs from traditional social payments. Instead of uniform tranches over a long period, the organizers chose a combined approach:

Monthly payments: Starting in September, participants receive $800 per month.

One-time amount: In November, participants were paid a one-time large tranche of $8,000.

The program will last five months and will conclude in February. This is an example of so-called "guaranteed basic income," where money is provided without any conditions on its spending.