Work X

November 22, 2023

Work X

Work X INTRODUCTION

Work X is the first decentralized job economy that allows people to collaborate without commercial middlemen like UpWork or Indeed, enabling AI Job matching empowering both talent and employers without the need to possess Web3 knowledge. Work X platform for yourself and we can’t wait to show you, but we are not there just yet. In the meantime, we want to give you a little sneak peek. Just for you as our community member. It is important to keep in mind that this first version is focused on a first functional application with core features; there is still a lot of work to be done before we are able to utilize Work X to its full potential and ensure the platform is at a level you expect aesthetically. However, this release is a very important foundation for the future, we have built everything in a very modular way to ensure it is ready to scale.

Who Is Work X For

Employee: Everyone's welcome, both active job seekers and people who build their profile for (potential) later use but remain private.

Employer: Any hiring company can use Work X. Start/scale-ups, corporates, agencies, DAO's, indie hackers, etc.

Freelancer: Create on-chain Gigs on a disposable Web3 layer to control your reputation cross-platform and earn 10-30% more for the same service!

Work X Goal

Although the current solution is unsustainable, technological developments havemade it easier to bridge the gap between employers and employees. In a world of constant technological developments, the question arises whether the prices charged by freelance platforms are derived from a sustainable and efficient business model. Given the emergence of decentralized marketplaces and the trend of disinter- mediation, the business model of freelance platforms might prove inefficient and unsustainable business model. The goal of Work X is to create an economically optimal efficient platform for any type of work with any contract where commissions are minimized and salaries optimized. Additionally, Work X will aim to match supply and demand through a ground breaking technology platform called Work X Platform. The Work X Platform and its various services can be accessed by the token of Work X ($WORK). User have to possibility to interact with the Work X Platform using have the possibility to interact
with the Work X Platform with that token.

Tokenomics

The $WORK token is intended to provide digital access to the platform by means of a blockchain-based infrastructure. In this paragraph we will shortly summarize the different use-cases to answer the question how the token has utility. In the near future we will present additional token use-cases so stay tuned!

Token Utility 1: Get Access to Platform Services
To access services on the Work X Platform such as posting jobs, skill assessments, development courses, the AI-Assistant, and many other services on the platform, users need to possess the $WORK token. Other examples of costs we need to add to our transaction fee requirements are for example AI tokens, running servers, development grants, etc.

Token Utility 2: Collateral for Job Listings
To make sure that all job listings comply with the code of conduct of the platform, tokens have to be deposited.

Token Utility 3: $WORK Platform Support Rewards
Users of the platform who hold $WORK tokens and add to the liquidity will be rewarded with $WORK tokens within an NFT for their support of the platform and community. As they are contributing more to the maintenance and continuation of the platform, they are important for the future of the platform and deserve to be rewarded.

Token Utility 4: Platform NFT’s
When users get achievements on the Work X platform they will be rewarded with an NFT that holds an amount of $WORK tokens. By holding and adding to the liquidity of the $WORK token, they will be rewarded with an appealing APR on top of their tokens.

Token Distribution and Fund Allocation

At the the Token Generation Event (TGE), the generated tokens and funds will be allocated proportionally to different use-cases and operations. In the ”Vesting” column of Table 1 you can see the vesting period of each of these token allocations in months. Not only tokens bought by early buyers will have a vesting period, in fact the buyers have some of the lowest vesting periods while most of the Work X allocations vest over longer time frames. For example the intended DAO will gradually unlock it’s funds over 5 years without any tokens being unlocked at TGE.