N3BI

Nation3 Basic Income (N3BI)

North Star Metric

Metric: Number of active citizens.

Research Summary

https://app.clarity.so/nation3-public/docs/6fdd30ab-c6e3-4faa-942f-7a7a9a0cab16

Functionality

Two Smart Contracts

sequenceDiagram
    participant BasicIncomeDistributor
    participant NationCred
    BasicIncomeDistributor->>NationCred: Is citizen active?
    activate NationCred
    NationCred->>BasicIncomeDistributor: Yes/No

Eligibility Based on NationCred

The NationCred.sol smart contract contains code for getting the citizen activity status for a given passport ID.

At the end of each week, Nation3's NationCred smart contract will be automatically updated with the list of citizens that are eligible.

Enrollment

A Nation3 citizen can only be enrolled if the following prerequisites are in place:

1. The account owns a passport NFT
2. The passport has not expired
3. The passport is not about to expire within the next year
4. The citizen is active

Once eligible, the citizen can enroll for Basic Income, as long as the smart contract contains enough funding for covering one additional citizen's Basic Income for the duration of 1 year.

Claiming

Once enrolled, citizens can claim their earned Basic Income at any time.

After 1 year, the enrollment will expire. And additional Basic Income can only be claimed after re-enrolling for another year.