Simple Living

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Live better, with less

Ideas and inspiration for living more simply. A place to share tips on living with less stuff, work, speed, or stress in return for gaining more freedom, time, self-reliance, and joy.

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(US) Introducing Comingle: An opt-in UBI (Universal Basic Income) to provide a stable weekly income based upon users contributing 7% of their income (comingle.us)

submitted 1 year ago by centof@lemm.ee to c/simpleliving@lemmy.ml

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This also seems like it might interest this community. Originally posted from: https://lemm.ee/post/7276272

Comingle is an interesting idea that would act as a pseudo emergency fund to provide a stable week to week income for their users. It could act to stabilize your income if you have an irregular income or as an backup plan or insurance for when you lose a job or income source. It works by distributing the average of all their members contributions weekly to each user. Once the service starts, the end result will be a net gain for those with low income and a payment to provide a guaranteed monthly income for higher earners.

For those with low income, any amount of extra money can aid in the pursuit of opportunity and keep things from turning desperate.

For freelancers and gig-workers, reliable weekly income can ease the complications of sporadic cash-flow.

For those with more income, Comingle lets you help others, sends you a little extra cash on slow weeks, and provides a safety-net if things take a turn for the worse.

Disclaimer: I am not affiliated with them. I just got this in an email newsletter and was intrigued.

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[–] Sharkwellington@lemmy.one 2 points 1 year ago (1 children)

Perhaps you're suited to answer this: What protections are there for end users against this being some sort of rug pull?

[–] centof@lemm.ee 2 points 1 year ago* (last edited 1 year ago) (1 children)

I have no idea for sure, but I assume they would have a contract you would agree to that governs how they use your contributions and it would allow you to sue for breach of contract in small claims court. According to their website they plan to have a steward ownership model in which profits serve the mission of the company and protect it from extractive capital. I imagine that means it will hopefully be set up to not allow it to go public or misuse funds.

[–] krewllobster 1 points 1 year ago

I agree -- I particularly liked that they call out corporate governance structure in the FAQ.