Dear SocialGood Community,
Thank you for your continued use of the SocialGood App.
The SocialGood Team allows users to shop at major e-commerce sites like eBay and Best Buy and receive up to $10,000 at 100% of the purchase price in SG as many times as they want through the SocialGood App. In addition, we give up to 15% APY in Staking Rewards every 6 hours depending on the amount of SG held.
In our “SocialGood Membership Program,” depending on how much SG you stake your membership rank can rise with higher ranks being able to receive more Staking Rewards and higher Crypto back rates (which is patented).
SG received can be traded on Bittrex Global, BitMart, and Uniswap. Just through shopping in our app, we even have a user who currently holds over US$24,000 worth of SG.
Feel free to check out community members who have received SG through the hashtag #SocialGoodApp_CryptoBack on Twitter.
By the way, on October 12, 2021, the SocialGood Team carried out a new issuance of SG (“minted”) for the first time after the listing of SG. This was a release of pre-determined funds due to the increase of Social Good App users.
With regard to the mint, the following question was raised by Community members:
・ Does the value of SG decrease as the supply of SG increases?
In conclusion, the answer is “no.” While short-term supply and demand may become slack, in principle a new issue does not reduce the value of SG at all.
Here is the reason why it does not.
First, let us share 3 points as prerequisites.
① SG is a digital gold with a supply cap (same as Bitcoin). It is different from fiat currency which has no supply cap.
② SG does not dilute its value even if the number of issued coins increases (same as Bitcoin). In that regard, SG is unlike a stock which represents a legal right to earnings.
③ For Cryptocurrency, the number of holders is proportional to the market capitalization (Details will be explained later in this statement).
The supply cap of SocialGood (SG) is 210 million, of which 0.3%, 700,000, were utilized for the first listing on a major exchange in July 2020.
As is written in the White Paper, 99% of the supply cap will be for the Crypto Back Reserve Fund for the purpose of SG distribution to SocialGoodApp users in conjunction with their shopping activities.
We, the SocialGood Team, place the highest priority on SG's fully diluted market cap (supply cap number x market price per unit). The relationship between the market capitalization and the number of Social Good App users is shown in the graph below.
The maximum market cap as of January 19, 2021, is US$ 1.47B, which is approximately 100 times higher than when it was listed.
With the new issuance on October 12, 2021, the number of issued SG jumped to 2,100,000 from 700,000. But, the supply cap does not change at all. It is still 210 million.
The new issuance did not bring about any significant change to the market cap based on the supply cap.
In other words, the value of SG did not plunge to 1/3 the level of the previous price because the number of issued SG increased from 0.3% to 1% (the number of issued SG tripled) of the supply cap by this new issuance.
Why doesn't the value of SG decrease even if the portion of issued SG from the supply cap increases?
That is because SG is NEITHER fiat currency nor stock.
The market, which is the aggregation of crypto investors who understand it wisely, originally valued SG based on its fully diluted market cap.
What, then, determines the fully diluted market cap?
In conclusion, the addition of one more SG holder brings about an expected market cap increase of at least $19,757. The market cap rising by at least $19,757 for each additional holder is true based on the analysis of major cryptocurrencies. In the below figure, you can see the market value per holder at certain levels of holders (number of addresses): Taken from this article: SocialGood (SG)’s Price, Valuation, Future Prospects, and Staking up to 15% APY
What is the goal for the SG team?
The Social Good Project is aiming to create a new world where the more people shop, the more they will accumulate assets without losing money.
Today, in our capitalist society, wealth is dominated only by a limited number of wealthy people, and social inequality is widening. Our brand, SocialGood, was born in order to embody our vision to thrive to make a better society by reducing this disparity.
To realize this vision, 99% of the SG supply cap is provided through free distribution to SocialGood App users. In other words, SG has been yours from the start.
The SocialGood Team needs to distribute more SG to users as the number of SocialGood App users increases.
If this is the case, will all SG in the supply cap be distributed someday? Would the project, then, come to an end?
No. Again, in the cryptocurrency market, the market cap of the crypto will keep increasing by at least $19,757 for each additional one crypto holder. So, the more the number of SocialGood App users increases, the higher the value of SG goes up, the same as Bitcoin.
Then, to return US$1 to SocialGood App users, it may cost, instead of the 1SG required before, only, for example, 0.1SG. This will prevent the Crypto Back Reserve Fund from running out quickly.
In other words, this will create a virtuous cycle. The more the number of SocialGood App users increases, the more SG holders there will be which will then cause the value of SG to go up. As the value of SG goes up, the value of the Crypto Back Reserve Fund which gives SG to users increases. And, therefore, more value can be provided to users through the SocialGood App.
We have obtained a business model patent for this mechanism.
The Social Good Ecosystem™ is the only system in the world where people who don't even have US$1 now can possibly build up wealth from scratch. Everyone, no matter their background, can receive up to US$10,000 in crypto for free as many times as they want and Staking Rewards of up to 15% APY.
You can have a great impact on the SocialGood Project as a member of our community. Let's make society better together!