Building during extremely turbulent conditions — a phrase that sums up JumpTask’s first year in operation.
What were the main achievements and challenges during 2022? And what lies ahead in the next year? JumpTask presents its first-ever annual review, with a market analysis and key project highlights from the previous year.
Learn about key milestones of 2022 and major updates of 2023 below.
> JumpTask attracted a strong pool of 1.84M+ micro freelancers in 2022;
> The team amassed 10+ partnerships in Web2 and Web3 spaces;
> $JMPT price held up despite severe crypto market turbulance;
> Staking, DEX listing and the Referral system were launched in 2022;
> $JMPT CEX listing is already confirmed for Q1 2023.Market Review
It’s no secret that 2022 for the crypto market radically differed from 2021.
In 2021, the cryptocurrency, NFT, and stock markets experienced a boom. Asset valuations were through the roof, and prices were reaching new all-time highs every month, with investors bringing in significant gains. Why?
Primarily this was caused by the economic recovery after the Covid-19 pandemic. Central banks worldwide cut interest rates (cost of borrowing) close to 0% to support businesses and individuals. Consequently, it became easier for individuals and companies to borrow, spend and invest. And as demand for the assets increased, their values grew significantly. For example, Bitcoin topped $68,000 in November 2021.
What happened in 2022? Crypto, stocks, and the economy — all turned in the opposite direction.
The main reason? Market and economic cycles. In short, inflation eventually increases when the interest rates are extremely low. It means that the prices of goods and services in the economy go up significantly. And to control these price rises, central banks go in a different direction as opposed to 2021 — raising interest rates. This results in more difficult borrowing and spending, which decreases the prices of assets such as crypto and stocks. You can check JumpTask’s article on cycles for more detail here.
Overall, stocks, crypto, and other asset classes experienced pressure in 2022 due to the economic environment. But that was not the only factor.
Other events, such as the Terra Luna crash or the FTX collapse, negatively affected the crypto market. These events bring uncertainty into the industry, resulting in reduced investor confidence. Ultimately, it becomes more difficult for all web3 projects to build their ecosystems and progress.
Despite all the external pressure, the JumpTask project has continued to grow since its launch in January 2022.
Multiple Partnerships
JumpTask’s primary goal in 2022 was scaling its platform: signing partnerships with Web2 and Web3 companies to revolutionize the gig economy and provide people with ways to earn money on the side.
Here is a list of partners that the team signed in 2022:
- Honeygain — the passive income app enabling internet sharing for money
- Offertoro, ayeT-Studios, AdGate Media, AgGem — games and micro-task providers
- Wizardia — a play-to-earn, NFT-based platform hosting an RPG game
- in.Brain and CPX Research — global online survey providers
All these partners meant that JumpTask could provide a variety of ways to earn for its users: generating passive income, doing surveys, playing games, getting rewards for purchasing NFTs, and other micro-tasks.
Additionally, in November 2022, JumpTask launched its JumpOffers — branded tasks, which come from direct partners instead of intermediaries. These already include multiple companies that have listed their tasks on the JumpTask platform, ‘Top picks for you’ section. While JumpOffers are only in operation for two months, JumpTask users can already earn above $100 from the branded tasks alone.
Overall, JumpTask managed to scale its platform in its first year of operation, with the user base closing at nearly 2 million at the end of 2022.
Platform Growth
The JumpTask ecosystem grew significantly in user count despite the tough crypto market conditions.
In May 2022, just 5 months after launching JumpTask, the 500k user milestone was reached. Then only a few months later, by the end of August 2022, 1 million users were on the JumpTask platform earning income. Finally, the ecosystem finished the year with a total of 1.84 million members worldwide.
Here’s a chart illustrating the platform growth during the year:
All in all, JumpTask finished the year strong, falling just short of 2 million users in 1 year. As the number of people joining JumpTask grows, the team has more capacity to sign new partners, provide more ways to earn, and deliver rewarding community events.
Additionally, as more people join the ecosystem, the turnover of the platform’s native cryptocurrency — JumpToken ($JMPT), continues to grow.
JumpToken ($JMPT) Price Performance
As the general crypto market experienced significant fluctuations, $JMPT was no different. JumpToken’s price increased sharply from August to October from $1.86 to $2.91. This was mainly due to the staking upgrade in the middle of August.
However, as the market situation was turbulent, $JMPT experienced pressure for the rest of the year. Furthermore, as the token turnover is still low, $JMPT is vulnerable to token sales by whales (large token holders). Although most of the $JMPT holders are small investors, such an event happened in October 2022, which led to a drop in value. Nevertheless, $JMPT ended the year with a slight rebound.
Check the $JMPT price movement in 2022 here:
JumpToken ($JMPT) Staking
One of the main features JumpTask introduced in 2022 was JumpToken Staking.
The token holders can stake $JMPT in one of the Fluid Staking pools: Starter, Gainer, and Pro. All pools have different entry levels — 10,100 or 1,000 $JMPT, respectively. The pools differ in their APR too (annual percentage reward), which at the end of 2022 stood between 16.2% to 35.9%.
The main benefits of Fluid Staking include:
- Ease of Entry — staking starts from 10 $JMPT
- Flexibility — withdraw anytime, no token locking
- User-Friendly — no penalties for withdrawing early
Throughout 2022, staking played a significant role in allowing $JMPT holders to generate passive income on top of the tokens earned from tasks.
DEX Listing
In 2022, JumpToken ($JMPT) was listed on a decentralized exchange (DEX): PancakeSwap.
This enabled people to earn $JMPT on the JumpTask platform and purchase the token as an investment. Currently, the token can be swapped for BNB or BUSD. To facilitate the purchasing process, JumpTask introduced its video tutorial for buying $JMPT.
Throughout the year, JumpTask has been working on listing $JMPT on CEX (centralized exchange). However, as the crypto market situation has been highly uncertain, the JumpTask team took time to conduct proper due diligence before listing the token.
Check the end of the article to learn about the CEX listing, confirmed for Q1 2023.
Major community events 2022
In one year, JumpTask grew its community and social media presence significantly.
Here are the numbers:
To reward all JumpTask community members and users, the team organized multiple token contests and giveaways throughout the year.
From July to November 2022, JumpTask has organized a monthly contest, ‘Windrop,’ where people complete tasks for a chance to win $JMPT. In total, Windrop winners have received $15,187.50 in rewards.
In December 2022, JumpTask presented a new, bigger 3-month giveaway called ‘Winter Quests,’ with a total Prize Pool of 10,000 $JMPT ($25,000). In summary, all participants can claim free OAT NFTs and weekly $JMPT prizes by completing simple tasks on the Galxe platform. There are additional, bigger prizes for staking JumpTokens too.
There were other notable events happening in 2022:
- Summer Task-a-Thon event with $JMPT prizes;
- Black Friday +33.3% micro-task earning boost;
- Staking double APR limited 3-day boost;
- +50%+earnings on Surveys, Games and other tasks.
Last but not least — JumpTask organized multiple live AMA sessions with CEO Juozapas. Live events are held monthly to address the growing community, answer essential questions, provide advice on using the platform, and more. All previous AMA sessions can be found on the JumpTask Youtube channel.
Referral System
JumpTask ended the year with another major update: the first instlment of its referral program.
In December 2022, JumpTask announced that a limited-access referral program was released. A selected number of brand ambassadors receive referral codes, which are given out to users who can apply them on JumpTask and receive a $JMPT bonus. Currently, JumpTask is still developing the system before it is made available to everyone.
2022 was the first year for JumpTask, and the team achieved multiple milestones despite the challenging market conditions. In 2023, JumpTask will have numerous updates, bringing exciting benefits to JumpToken ($JMPT) earners and investors.
JumpTask Outlook 2023
The team will focus on several keys areas throughout the year:
1. CEX Listing
In Q1 2023, JumpTask will launch its BKEX CEX offering. Investors will be able to purchase $JMPT on a centralized exchange, which will have the following benefits to $JMPT and investors:
- Flexibility: investors will be able to access $JMPT in more ways than before, which has the potential to attract more people to the JumpTask ecosystem;
- Turnover: $JMPT turnover is expected to increase after the CEX listing, which can have a positive impact on the token’s price;
- Credibility: when JumpToken is listed on CEX, its adoption is expected to grow among crypto investors, which is projected to translate into the token’s price growth.
Everyone interested in the JumpTask project should keep an eye on the CEX listing updates on JumpTask communication channels. Existing $JMPT holders are expected to benefit the most, as the centralized exchange listing will be one of the most significant events in 2023 on JumpTask.
2. Referrals Update
The referral program is getting an update in Q1 2023 too.
So far, the codes have had limited availability, as JumpTask is still working on the system. The development team is implementing updates and bug fixes. The referral codes will be introduced to everyone as soon as the program runs efficiently.
Here’s what the JumpTask community can expect:
- Referral Rewards: all JumpTask users will be able to generate a unique code, which can be passed to their friends; when a person joins, the user who did the inviting will receive a $JMPT reward;
- Dual-Reward System: The inviter and invitee will receive a $JMPT reward: JumpTask will incentivize both sides to attract more people to the platform.
In addition to CEX listing, Referrals Upgrade will be another major event on JumpTask in 2023: it’s expected to increase the member count significantly, resulting in a higher $JMPT turnover and adoption.
3. New Payout Options
JumpTask’s main goal is to bridge the gap between Web2 and Web3, including everyone that wants an opportunity to earn. In order to do that, JumpTask will introduce new payout options to attract more people to the platform and bring further flexibility for all.
So far, the only payout option has been the platform’s native cryptocurrency — JumpToken ($JMPT). After completing tasks, users can collect $JMPT, which can be transferred to their wallets and exchanged for fiat currency.
In 2023, JumpTask will introduce an alternative payout option — gift cards. People will be able to log in to JumpTask, complete micro-tasks, and cash out using gift cards. The exact list of retailers and services available will be confirmed later in the year.
Overall, expanding payout options will help attract new audiences to JumpTask in 2023. Ultimately, JumpTask expects to help people gradually access the Web3 world as part of its strategy towards decentralization.
4. New Staking Pools
Another major update in 2023: new staking options for $JMPT holders.
In 2022, JumpTask introduced its Fluid Staking. The name ‘Fluid’ represents flexibility — users can enter & exit staking pools anytime with no restrictions, locking periods, or early exit penalties. All this was done to attract beginner crypto investors who would be comfortable with a flexible staking option.
This year, the team will introduce a new type — locked staking. $JMPT holders will have a chance to stake their tokens & lock them for a certain amount of time. Withdrawing early would mean missing out on potential rewards. In return for holding JumpTokens, investors would receive a higher APR than regular no-lock staking.
Other updates
In 2023, JumpTask will work on several other fronts:
New Website. In January 2023, JumpTask launched its long-awaited website update, which will bring more flexibility to existing JumpTask users and help to attract new audiences.
New Tasks. The team is in talks with multiple partners, who will bring new ways to earn money for JumpTask users — new passive income, cashback and social tasks are coming in 2023.
Summary
2022 was an exceptionally challenging year for the crypto market: both general economic conditions and internal issues were putting pressure on the major cryptocurrency prices.
However, JumpTask continued to build and grow its ecosystem. Multiple partnerships were signed from both Web2 and Web3 worlds: this brought several money-earning ways for the global community. Next, JumpTask introduced its staking system, which enabled everyone to use their $JMPT earnings and generate passive income. Last but not least, the year was filled with events to give back to the growing community.
In 2023, JumpTask will continue to move towards its vision: bridging the gap between Web2 and Web3 for the global, $400B gig economy. The project is seeking to provide a cost-efficient, transparent, and inclusive platform for every micro-freelancer to join and earn money on the side. To achieve long-term growth, JumpTask will continue to target 5 key markets as part of its business expansion plan.
With major updates coming this year, JumpTask is moving forward towards decentralizing the global freelancing market. Stay in touch on JumpTask socials for the latest project news.
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