LaborX — a blockchain work platform for clients and freelancers with efficient transactions and strong security.
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Working LaborX platform
LaborX — a blockchain platform that helps clients and freelancers to communicate. It provides efficient transactions and strong protection through smart contracts wherever you are.
The status of the premium account can be accessed by blocking TIME tokens in the TimeWarp contract. As programmable money, crypto transactions are embedded in digital contracts for safe and automated payment. There is protection of financial relationships through digital escrow. Funds are blocked when the contract is signed and are automatically released when the work is completed and accepted.
| Crypto payments | LaborX supports a number of popular tokens on Ethereum and the Binance Smart Chain, enabling fast and efficient settlements between clients and freelancers anywhere in the world. |
| Digital contract | You can set the terms of collaboration, including terms and payment terms, using the Contract module. |
| Low fees | While popular freelance platforms charge users up to 20 percent , the decentralized approach means commissions are only 10 percent for freelancers and 0 percent for clients. |
| Reputation | The Reputation Module provides security and feedback to help users to select the best freelancers and clients. |
Premium account holders will get LaborX free forever, plus other great benefits! The algorithm takes into account factors such as previous experience and education, feedback, completed contracts, and more. Variables are weighted, according to their importance and relevance.
Mining system operation
Freelancers pay 10 percent of their earnings for each done job. These fees help to buy TIME tokens on the open market, which go to freelancers, clients and the Time Fund. TIME tokens are first nominally split 50:50 between the Customer and the Freelancer. Depending on the premium status of each user, everyone receives from 5 percent to 100 percent of their half, and the rest goes to the Time Fund. Every time the freelancer quits, he pays a platform fee. These fees become TIME tokens by purchasing them on the open market, which go to the Freelancer, Customer and the wider TIME community of owners who have contributed their tokens to the TimeWarp program.
Mining goals:
- provide a cryptocurrency “pension” to LaborX users as a digital asset that will rise in value over the long term;
- reward users for their spent time;
- add value to the broader Chrono.tech ecosystem for which TIME is a natural asset.
Since there is a limited number of TIME tokens that will no longer be generated, there is a constant demand for TIME tokens.
Additional information
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