farsta: Work X

Work X

Work X Presentation

Work X is building ‘The Internet of Jobs', an optimal efficient platform economy providing unbiased matching for all types of work with any contract where labor costs are minimized and salaries optimized (Rapmund, De Witte & Kehrer, 2021). With a transaction fee of 2-5%, Work X will run a decentralized organization (DAO) that rewards people who contribute to the development and maintenance of the platform. Given the expected economies of scale, learning effects, and commodifying functional components, this transaction fee will also be used to decrease the costs when the platform scales up. Work X will offer the same user experience without the need to possess knowledge about the underlying blockchain technology. Customers can pay service providers with existing payment solutions. In the background, Work X bundles transactions and buys back the $WRKX token from the market, which will be distributed to developers who contribute to the development and maintenance of the platform. Every token holder will have the right to vote on development proposals to decide on the platform's future. The Internet of Jobs will be used, owned, and maintained by the people.

Work X’s Paradigm-Shifting Features

Work X, the keyword synonymous with recruitment innovation, offers a bevy of features:

Generative AI-Assistant:

An AI-driven tool by Work X that tailors job descriptions and enriches talent profiles to perfection.

Decentralized Identity:

A feature exclusive to Work X, it empowers candidates by giving them dominion over their professional data.

Peer-to-Peer Collaboration:

Work X’s groundbreaking fee model guarantees competitive payouts for talents and minimal service fees for corporations.

Verified References:

Work X assures businesses of the veracity of candidates’ skills and experience.

Unbiased Hiring:

Work X’s sophisticated algorithms ensure candidate-employer alignments based on genuine performance metrics.

Anticipating the Future with Work X

The synergistic collaboration of Work X, TEN, and Whyz is grounded in mutual aspirations and shared objectives. With Work X’s tech-forward platform and the robust nexus of TEN and Whyz, the tripartite partnership is poised to usher in a renaissance in recruitment and leadership strategies. By intertwining futuristic technology and visionary leadership, this partnership is anticipated to foster a systematic, efficient, and advantageous framework for global organizations and professionals.

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.