Projects56Research43Initiatives35Events4

All (56)Cryptocurrencies (7)Stablecoins (16)Flatcoins (3)Community & Local Currencies (18)Mutual Credit & Time Banking (12)

#	Name	Monetary Sov.	Civ. Durability	Adoption	M69 Score ▼
1	EncointerCrypto UBI + Demurrage ProtocolEncointer is among the most conceptually M69-aligned monetary experiments in existence -- debt-free UBI issuance, aggressive demurrage, sovereign local currencies, proof-of-personhood Sybil resistance, and 1p1v democratic governance. Its Monetary Sovereignty pillar (3.8) is strong. But with fewer than 500 active users globally and untested resilience, it remains a promising prototype rather than a proven monetary infrastructure. The gap between its design excellence and its real-world impact is the central tension. Scaling the proof-of-personhood ceremony model to thousands of communities is the project's existential challenge. Active	3.7	2.7	3.7	3.5
2	Fureai KippuTime Banking / Care CurrencyFureai Kippu's *money design* is among the most M69-aligned ever assessed (Monetary Sovereignty pillar: 3.8), but its analog/institutional *architecture* drags it down dramatically (Civilizational Durability: 2.2). It demonstrates that the M69 monetary design principles — debt-free, activity-linked, egalitarian issuance — work in practice over decades, but need to be paired with technological sovereignty to achieve the full vision. Active	3.7	2.3	4	3.5
3	Leu (Zürich)Community CurrencyLeu/Encointer represents the closest architectural alignment with M69 values seen in a live complementary currency — debt-free UBI issuance, on-chain democratic governance, open-source non-custodial design, and zero fiat dependency. But it remains a small community experiment in Zürich with minimal traction and no proven stability mechanism. For M69, Encointer's protocol design is a reference implementation worth studying and potentially building upon, but the Leu community itself needs to demonstrate that this design can scale beyond 200 participants and achieve genuine price stability before it can be considered a building block for the M69 monetary future. Active	3.4	3.3	3.3	3.4
4	CirclesDecentralized UBI CurrencyCircles v2 represents one of the most conceptually M69-aligned monetary experiments in existence — debt-free UBI issuance, demurrage anti-concentration, fiat independence by design. But its practical impact (~10K users), governance immaturity, and untested resilience keep it in the "partially aligned" range. The monetary design is strong; the institutional and technical scaffolding needs to mature. Active	3.7	2.3	3.7	3.4
5	Grassroots EconomicsCommunity Asset Voucher NetworkFor investors or partners, the question is whether the philosophical alignment and real-world impact track record justify investment in solving the infrastructure gaps. Active	3.4	2.7	4	3.4
6	BitcoinDecentralized CryptocurrencyBitcoin proves that decentralized, censorship-resistant, globally-adopted money is possible — but its fixed supply and extreme volatility mean it serves as a speculative asset rather than the stable, debt-free medium of exchange the M69 Manifesto envisions. Active	2.7	4	4	3.3
7	Tempo Time CreditsTime-Based CurrencyA blockchain or open-protocol fork that preserved the 1-hour-per-credit rule, the regional-currency composability and the radical-equality ethos — while adding self-custody, open standards and on-chain enforcement — would be one of the most M69-aligned monetary projects conceivable. Tempo proves the social model works at scale; the architecture is what holds the M69 score back. Active	3.3	2.3	4	3.2
8	Frax Price Index (FPI)Decentralized StablecoinIt is simultaneously the best-designed CPI stablecoin in production and the most instructive case of how hard it is to convince DeFi users to hold purchasing-power-stable money over nominal USD stablecoins. For partners or investors, FPI is interesting as a mechanism-design reference; as a monetary system it is a niche experiment now being folded back into the broader Frax stack. Active	3.4	3	2.7	3.2
9	Community Exchange System (CES)Mutual Credit / LETS NetworkCES is the world's most enduring and geographically extensive alternative exchange network, with a genuinely debt-free issuance model and remarkable grassroots adoption. However, its centralized architecture, lack of spending power stability, proprietary technology, and concentration of control around a single founder mean it currently functions more as a well-intentioned web application than as sovereign monetary infrastructure. An investor or partner should view this as a project with proven community value and unmatched reach but requiring fundamental architectural upgrades -- now underway with CES 2.0 -- to become M69-aligned infrastructure. Active	3.1	2.3	4	3.2
10	AmpleforthElastic Supply TokenAmpleforth is the most technically ambitious attempt at algorithmic spending power stability in this rating set — targeting CPI-adjusted purchasing power with elastic supply. But ambition hasn't translated to adoption or proven stability. After 7 years, it remains a niche DeFi experiment with <34K holders and significant price deviations from target. The design is directionally M69-aligned; the execution and adoption are not yet there. Active	3.4	3	2.7	3.2
11	SardexMutual Credit NetworkFor M69 alignment, it would need to develop technological sovereignty (open-source protocol, self-custody, censorship resistance) and unit-of-account independence from fiat currencies. Active	3.4	2	3.7	3.2
12	Quai NetworkMulti-Chain NetworkQuai Network is architecturally the most M69-aligned stablecoin attempt to date in terms of fiat independence and debt-free issuance, but its value proposition rests on an unproven stability thesis and centralized governance that could undermine its long-term monetary credibility. The project needs 2-3 years of demonstrated QI price stability and a credible governance decentralization roadmap before its M69 alignment potential can be fully realized. Active	3.4	2.7	3	3.2
13	hOurworldTime Bank NetworkA blockchain-based or open-source fork of this model, preserving the time-as-unit design while adding cryptographic enforcement and self-custody, would be one of the most M69-aligned projects possible. Active	3.3	1.7	4	3.1
14	T Talent SchweizTalent Schweiz is an ideologically pure implementation of Gesellian monetary theory with genuinely innovative features (debt-free issuance, demurrage, equal creation rights) that align strongly with M69's money design principles. However, its centralized, custodial, privacy-absent infrastructure and tiny, declining user base make it a proof-of-concept rather than a viable monetary alternative. For M69 alignment, the design DNA is valuable but would need to be re-implemented on sovereign, self-custodial, privacy-preserving infrastructure to reach its potential. Active	3.1	2.7	3.3	3.1
15	TimeRepublikTime Banking NetworkAn open-source, blockchain-enforced version of the TimeCoin design — preserving the 1-TimeCoin-equals-15-minutes rule and sub-community feature while adding cryptographic enforcement, self-custody, and distributed governance — would be among the most M69-aligned projects possible. Active	3.3	2	3.3	3.0
16	O Olympus DAO (OHM)Olympus DAO has built impressive decentralized financial infrastructure with a self-sustaining treasury, but its M69 alignment is limited by a fundamental design choice -- being a free-floating reserve asset rather than a stable medium of exchange. For investors or partners seeking M69-aligned money, Olympus provides a strong architectural template for sovereignty and resilience but would need to solve the spending power stability problem and diversify away from fiat-pegged reserves to become genuinely aligned with the Manifesto's vision. Active	2.7	3.3	3.3	3.0
17	R Reflexer RAIA potential RAI V2 could inherit the design lessons while addressing the traction and sustainability failures. For M69-aligned investors, RAI's architecture is a blueprint worth studying, but the V1 protocol itself is no longer a viable monetary instrument. Active	3	3.3	2.7	3.0
18	S Sky USDSFor investors and partners seeking decentralized access to USD-denominated yield, Sky is compelling; for those seeking money that can outlive the dollar, the architectural dependency on USD is a structural limitation that no amount of governance sophistication or DeFi innovation can overcome. Active	3	3	3	3.0
19	Mutual Credit ServicesMutual Credit Protocol & Social FranchiseMCS is a philosophically sophisticated project that has designed one of the most M69-aligned monetary architectures in theory — debt-free issuance, federated local currencies, commons governance, and open interoperability standards. However, its operational reality (tiny user base, no stability mechanism, no on-chain enforcement, fragile funding) means it remains a promising concept rather than a proven monetary system. An investor or partner should view this as high-alignment-potential but high-execution-risk. Active	3.1	2.3	3.3	3.0
20	Wörgl Stamp ScripDemurrage CurrencyAny modern project inspired by Worgl must solve three problems simultaneously: (1) fiat independence so a central bank cannot delegitimize the backing, (2) technological enforcement so monetary rules cannot be overridden by legal decree, and (3) multi-jurisdictional operation so no single court can kill it. Historical	2.9	2.3	3	2.8
21	WIR BankComplementary Currency BankFor the M69 community, WIR is an invaluable proof-of-concept for complementary currency longevity, but its architecture is a cautionary example of how institutional survival can come at the cost of monetary sovereignty. Active	2.4	2.7	3.7	2.8
22	Rai StonesHistorical Stone CurrencyEvery strength of the social consensus model was also a vulnerability. The system's eventual marginalization by fiat currencies is the cautionary tale that motivates the entire M69 project. Historical	3	2.3	2.7	2.8
23	Guernsey ExperimentHistorical Monetary ExperimentAny project citing Guernsey as inspiration must answer the question: "How will you prevent what happened in 1836 from happening again?" Historical	3.1	2.3	2.7	2.8
24	BlueHotel-Backed Private StablecoinThe founder is the M69 manifesto author and has translated its principles into working Solidity (debt-free issuance, non-fiat collateral, demurrage, local currency composability). But the project is at T-minus pilot: no mainnet, no users, no audit, no distributed governance. The 2.7 overall score is not a verdict on the design — the Monetary Sovereignty pillar is 3.4, which would be "Substantially aligned" for a mature project. It is a verdict on maturity. A follow-up rating after pilot launch, mainnet deployment, and first 10-100 merchant tokens would likely move this 0.5-1.0 points upward if architectural commitments (demurrage, non-fiat collateral, directional flow) hold. Live	3.4	1.7	2.3	2.8
25	PlasmaStablecoin Payments L1Plasma is a well-funded, technically sound stablecoin payment network that deserves attention as payments infrastructure and UX benchmark — particularly its zero-fee paymaster model, which the M69 community can learn from for its own fiat-free stablecoins. But from a Fair Money Fund investment or partnership lens, Plasma is on the opposite side of the monetary sovereignty divide. It should be studied for execution, not emulated for philosophy. Active	2.7	2.7	3	2.8
26	StableUnitDeFi Lending ProtocolStableUnit is a competent DeFi-native reimplementation of the Maker CDP model with yield-bearing extensions — but it is a USD stablecoin that scores like a USD stablecoin against M69. Even executed well, the upper bound is a high-2 / low-3. For M69 alignment to meaningfully improve, USDPro would need to abandon the USD peg in favor of a real-economy index or labor-anchored unit of account, and the project would need to demonstrate live operation. Current design and signal do not suggest that trajectory. Active	3	2.7	2.3	2.8
27	FreicoinDemurrage Cryptocurrency Inactive	2.7	2.7	2.7	2.7
28	Reserve ProtocolStablecoin ProtocolThe modular architecture theoretically enables M69-aligned currencies, but no one has built one. Rating the protocol as it exists today -- dominated by USD-pegged products -- it scores well on architecture and poorly on the monetary design dimensions that matter most to M69. Active	2.4	3	3	2.7
29	GoodDollarCrypto UBI ProtocolGoodDollar is the most M69-aligned project on inclusive distribution and anti-poverty mission, but it is fundamentally not a sovereign monetary system -- it is a fiat-dependent UBI distribution mechanism wrapped in a crypto protocol. For M69 alignment to improve, GoodDollar would need to address spending power stability (target a real-economy basket), reduce fiat reserve dependency, and build a genuine G$-denominated economy where people price goods and services in G$. Active	2.4	2.7	3.3	2.7
30	M0Stablecoin InfrastructureM0 is a high-quality, well-governed, rapidly-growing protocol that is fundamentally misaligned with M69 goals. It scores well on execution (governance, traction, code quality) but poorly on vision (fiat independence, issuance model, inclusivity). For M69 purposes, M0 is best understood as excellent fiat plumbing -- it makes the dollar system better, not different. Investors and partners seeking M69 alignment should look at what is built on top of M0 rather than M0 itself. Active	2.4	3.3	2.7	2.7
31	MonekoCommunity CurrencyMoneko is a textbook Eusko-template French local currency — six years younger, roughly one-fifth the user-base size, but architecturally identical. Its own innovations sit in the ESS-financing dividend model, the Caisse Commune Alimentaire integration, and a particularly clean democratic governance structure. From an M69 standpoint, it confirms what the Eusko rating already showed: this entire family of projects demonstrates that values-driven, charter-based, citizen-governed local currencies can work in practice and grow steadily, but they sit fundamentally outside M69's vision because they are built as euro-wrappers under nation-state regulatory regimes rather than as fiat-independent, cryptographically enforced, censorship-resistant money. The lessons worth importing are organizational (multi-college governance, charter-based onboarding, double-dividend reserves), not architectural. Active	2.1	2.7	3.7	2.6
32	Eusko (Euskal Moneta)Community CurrencyEusko is the strongest real-world demonstration of a local complementary currency in Europe, with exceptional traction, cultural integration, and community governance. It proves that a values-driven, charter-based local currency can grow steadily for over a decade and integrate with municipal government. However, its total dependence on the Euro and French regulatory framework, combined with centralized custodial architecture and no technological enforcement of monetary rules, place it outside M69's vision of fiat-independent, sovereign, censorship-resistant money. The M69 movement should study its lessons on cultural identity integration, multi-stakeholder governance, and charter-based business onboarding while building on fundamentally different monetary and technological foundations. Active	2.1	2.7	3.7	2.6
33	Cycles NetworkPeer-to-Peer Clearing SystemIf the team executes on the whitepaper's community-focused vision, deploys the Cycles Chain publicly with decentralized governance, and builds tools for SMEs and local currencies (rather than only serving trading firms), this score could improve dramatically. The protocol's architecture is well-suited for M69 alignment -- it just needs to grow into it. Active	2.9	2.3	2.3	2.6
34	USDiDecentralized StablecoinFor partners/investors, USDi is interesting as a reference implementation of TIPS-on-chain and sub-index composability; as a medium of exchange or sovereign monetary substrate it scores Weakly aligned (2.6/5.0). TR-02 eliminatory anchor caps Universal Adoption near 2.2 until the project has >6 months of live operation and broader access than accredited-investor-only. Active	3	2	2	2.5
35	U Usual Money (USD0)The project scores at the boundary of "Weakly aligned" precisely because it innovates on distribution while leaving the fundamental monetary architecture unchanged. Active	2.4	2	3	2.5
36	SolarCoinEnergy-Backed Cryptocurrency Active	2.4	2	3	2.5
37	Banco PalmasCommunity Development BankBanco Palmas is an exemplary model of community-driven financial inclusion and solidarity economy, but it is fundamentally a local fiat-circulation tool, not an independent monetary system. Its M69 score of 2.4 reflects this tension: extraordinary social impact and adoption (Universal Adoption pillar: 3.6) paired with minimal monetary sovereignty (Monetary Sovereignty pillar: 2.0). For M69 alignment, Banco Palmas would need to develop a sovereign unit of account, fiat-independent backing, open-source infrastructure, and non-custodial architecture -- changes that would require a fundamental redesign of its proven and beloved model. Active	2	2.3	4	2.5
38	Reka GeldComplementary Voucher CurrencyReka Geld is proof that complementary currencies can achieve extraordinary adoption and multi-generational durability, but it succeeds as a fiat-compatible voucher system rather than as an independent monetary system. For M69-aligned projects, Reka's lessons are in its adoption mechanics (employer integration, sectoral focus, cooperative structure, social mission) rather than its monetary design, which is the antithesis of fiat independence. Active	2	2.3	3.7	2.5
39	ResolvDeFi Stablecoin ProtocolResolv is a well-engineered *yield product* that looks strong on paper — diversified collateral, institutional custodians, multiple audits, credible team — but the 2026 exploit revealed that neither the code nor the governance structure actually enforces the monetary promises. From an M69 perspective, Resolv is closer to a tokenized carry trade with admin keys than to sovereign, debt-free, value-preserving money. The 2.5 score places it in the "Weakly aligned" band; the exploit's unresolved peg and unbounded admin authority are the decisive gating factors. Active	2.4	2	3	2.5
40	LevelDeFi Stablecoin ProtocolLevel is a cautionary M69 case study — a competently engineered, VC-backed DeFi yield stablecoin that achieved meaningful TVL but never attempted sovereign money design, is now being wound down via acquisition, and should not be considered for M69 alignment investment or partnership. Its infrastructure may persist as acquired code inside another protocol, but lvlUSD itself is exiting the market. Sunsetting	2.7	2.3	2.3	2.5
41	Kolionovo (Kolion)Agriculture-Backed CurrencyThe concept is sound; the implementation is fragile. Active	2.7	1.7	2.3	2.4
42	R Red Global de TruequeMutual Credit / Barter NetworkThe system's growth was its destruction: mechanisms that worked for a few thousand prosumidores at community scale became fatally fragile at 2.5 million participants. Any project seeking to learn from the RGT must solve the scale-governance paradox — how to maintain community trust and supply discipline as a monetary system grows beyond personal relationships. Historical	2.4	2	2.7	2.4
43	A Abracadabra Money (MIM)Abracadabra Money is a technically competent but conventionally designed DeFi lending protocol that borrows its monetary properties entirely from the US dollar. While its permissionless, non-custodial architecture scores reasonably on sovereignty and inclusivity dimensions, its debt-based issuance, fiat dependence, lack of spending power stability innovation, and troubled security history place it firmly in the "minimally aligned" category for M69 purposes. It is infrastructure for leveraging yield, not for reinventing money. Active	2.4	2.3	2.3	2.4
44	Ithaca HoursTime-Based Local CurrencyWithout technological enforcement, sustainable funding, and institutional resilience, even the most community-rooted monetary experiment will die with its founder. Future M69-aligned projects should study this case as a cautionary tale about what happens when money design is strong but architecture is absent. Historical	2.4	2	2.7	2.4
45	BerksharesLocal Complementary CurrencyIts M69 score of 2.2 reflects a project that excels at inclusivity and cultural identity but fundamentally operates as a fiat-derivative instrument with limited sovereignty, no purchasing power protection, and declining adoption — a cautionary example of how strong values alone cannot substitute for sovereign monetary design. Active	2.1	2	3.3	2.4
46	CapmoneyYield-Bearing StablecoinCap is a well-built, institutionally-backed, tightly-engineered USD yield product — and from an M69 perspective, that is precisely the problem. It is a concentrated, fiat-native, debt-driven, insider-intermediated stablecoin wrapper that imports every systemic dependency (USD, banks, Treasuries, MMF issuers, Circle freezes) the Manifesto exists to escape. For a Fair Money Fund lens it is a category example of "sophisticated but structurally misaligned," not a candidate for M69-aligned infrastructure support. Active	2.4	2	2.7	2.4
47	USD.aiGPU-Backed Synthetic DollarThe GPU-backed model is a meaningful improvement over Treasury Bill-backed stablecoins for fiat independence, but USDai was never designed to be sovereign, value-preserving, or fiat-independent money. Investors or partners evaluating USDai through an M69 lens should recognize it as a dollar stablecoin with a novel real-world-asset collateral base, not as an alternative monetary system. Active	2.3	2	3	2.4
48	ChiemgauerRegional Complementary CurrencyChiemgauer is a philosophically aligned but architecturally incompatible project relative to M69. It proves that debt-free issuance, demurrage, and community governance can sustain a monetary system for decades — but its Euro dependency, centralized infrastructure, and regional restriction make it a demonstration of complementary currency values rather than a building block for the fiat-independent, globally sovereign monetary future M69 envisions. The M69 movement should study its lessons (especially on demurrage and community governance) while building on fundamentally different infrastructure. Active	2.1	2	3	2.3
49	Banco MumbucaUBI Community CurrencyBanco Mumbuca is a world-class social currency and one of the most impactful basic income experiments globally, but it is structurally a municipal fintech -- a government-controlled digital payment system for distributing fiat-backed social benefits. Its M69 score (2.2) reflects this fundamental gap: exceptional at getting money to people who need it, but offering no monetary sovereignty, no fiat independence, and no architectural resilience against institutional capture. A project seeking to learn from Mumbuca's success while pursuing M69 alignment would need to decouple the brilliant distribution model from fiat dependency and centralized control. Active	1.7	2	3.7	2.2
50	SikobaPeer-to-Peer IOU Platform Beta	2.4	1.3	2.3	2.2
51	WorldcoinDigital Identity + CryptocurrencyIts strength is identity verification and user acquisition, but as money it fails on nearly every M69 dimension -- no stability, no elasticity, no privacy, centralized governance, and a biometric requirement that inverts the sovereignty and inclusivity ideals at the heart of the M69 vision. Investors or partners seeking M69-aligned monetary infrastructure will find very little here; those seeking proof-of-humanness infrastructure will find significant traction. Active	2	2	2.7	2.2
52	TruflationDecentralized Data OracleIts real-time inflation indices could serve as the oracle backbone for a spending-power-stable currency, making it a valuable component in the M69 ecosystem despite scoring low as a standalone monetary system. For the Fair Money Fund, the question is not "is TRUF good money?" (it is not money at all) but "would an M69-aligned currency benefit from integrating Truflation data?" (almost certainly yes). Active	1.6	2.3	3	2.1
53	Ducat StablecoinBitcoin-Native StablecoinFor investors or partners evaluating Ducat against the M69 vision, the project would need to demonstrate live mainnet operation, develop fiat-independent stability mechanisms, and transition away from debt-based issuance to materially improve its alignment score. Its current value proposition -- BTC-collateralized dollar stablecoins -- is fundamentally a fiat derivative product, regardless of how natively it runs on Bitcoin. Active	2	2	2.3	2.1
54	JAK BankInterest-Free Cooperative BankIts cooperative governance model and interest-free principles are genuinely innovative and align with M69 values, but wrapping them in a licensed Swedish bank means it cannot achieve monetary sovereignty, censorship resistance, or global accessibility. The M69 community should study JAK's governance model and anti-interest philosophy as proven social innovations while recognizing that the next step requires building these principles into sovereign, technology-enforced monetary infrastructure. Active	1.4	2	3	1.9
55	Oak CurrencyCommunity CurrencyThe project has genuinely M69-aligned values around inclusion and community empowerment, but its monetary architecture -- a centralized, fiat-backed, permissioned stablecoin -- is fundamentally misaligned with the M69 vision of debt-free, sovereign, value-preserving money. For OAK to improve its M69 alignment, it would need to transition from a USD wrapper to an independent unit of account with its own stability mechanism. Active	1.7	1.3	2.3	1.8
56	1MONEYStablecoin InfrastructureScore 1.7, "Poorly aligned." For Fair Money Fund and M69 partnership purposes, 1Money should be treated as a **competitor/counter-example** to the M69 vision rather than a candidate for alignment — a case study in how regulatory-first stablecoin infrastructure consolidates monetary control under private operators and state compliance regimes rather than distributing it. Active	1.3	1.3	1.3	1.3