2023, January 14

Tokenizing the Gig Economy With JumpToken ($JMPT)

Investment experts often advocate for conducting thorough research before investing, whether it’s in stocks or cryptocurrencies (DYOR – Do Your Own Research). However, this can be challenging, as values fluctuate based on a variety of factors, some of which are difficult to predict. Nevertheless, JumpTask’s team has put in considerable effort to create a business model that allows investors to understand the project fundamentals.

The Project’s Objectives

JumpTask’s concept is straightforward: partners provide microtasks for users to complete in exchange for JumpTokens ($JMPT). This addresses two significant problems:

    1. Helping companies that require microtasks to be completed without having to hire full-time employees. They can utilize a global workforce instead.

    1. Offering people worldwide the opportunity to earn extra money, regardless of their skills or experience.

As time goes on, JumpTask’s goal is to expand the variety of microtasks that users can get paid for completing.

The Token Demand-Generating Business Model

The value of a cryptocurrency is determined by the relationship between its demand and supply. The more users want to purchase a coin, the higher its value increases; conversely, the more people sell it, the lower its value becomes.

In the case of JumpTask, demand for $JMPT is generated from two main sources: the platform’s partners have to buy tokens to compensate users for tasks completed, and users or investors can hold onto their tokens in the expectation that their value will increase over time.

As the primary token that powers the JumpTask remote work platform, $JMPT has a unique advantage: a built-in demand. Each partner of the JumpTask platform needs to acquire $JMPT to offer tasks to users and to compensate them for completing them on time.

business-chart

Additionally, as more companies join the ecosystem and more earning types are introduced, this demand will continue to increase, which will in turn help drive up the value of the token.

As users have the option to hold $JMPT or sell, some of them will re-enter circulation where JumpTask’s partners can purchase them. In the future, this will increase the demand and the price of $JMPT even more as companies compete to acquire the tokens they need.

jmpt-payouts

17.9M $JMPT were issued when the token was created. The total supply (100M), however, will be unlocked gradually throughout a 5-year period: tokens are released into circulation based on the project’s requirements. For instance, if 12% of the total supply is allocated for marketing expenses, they will be released in small increments each time the team plans a new campaign, enters a new sponsorship agreement, updates the official website, etc.

Transitioning to Decentralization

The innovative concept of JumpTask is a game-changer in the current gig economy. However, as with any innovation, it comes with its own set of challenges. Implementing a new business model can be difficult to launch and attract partners, as some companies might not be familiar with Web3 and decentralization infrastructure. JumpTask is therefore transitioning to decentralization in three distinct phases:

    1. To begin with, JumpTask will be run as a straightforward business model, ensuring a streamlined and problem-free experience for new partners joining.

    1. Subsequently, it will shift to a marketplace for microtasks, providing partners with more autonomy over their task offerings.

    1. Ultimately, it will decentralize the system by utilizing smart contract templates, enabling JumpTask to have no further involvement in the process.

Once JumpTask has acquired the necessary knowledge and established a strong network of partners, it will be able to fully decentralize the platform and provide a seamless experience for businesses and individuals globally.

Follow JumpTask’s mission as it takes the global gig economy into Web3. Stay tuned.

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