The online microtask platform JumpTask launched its own cryptocurrency called JumpToken (JMPT) on January 13, 2022 — and as of now, it already has more than 87,000 holders around the world.
In this article, we’re going to dive deep into the distribution of JMPT, see how this project was launched and financed, and what ensures it keeps a great earning potential for its market value.
TL;DR
- The total supply of JMPT is divided into five parts, designated for Product and Partnerships (50%), Marketing (12%), Research and Development (16%), Team (20%), and Liquidity Pool (2%).- JumpTask aims to focus on growing the market value of JMPT. Along with the limited supply, its inbuilt demand that grows with each new partner and task module impacts the value constantly and positively.- JumpTask launched without an ICO or external funding because it wanted to focus on sustaining the token value with a constant demand.- The platform is fueled by JumpToken (JMPT) – a Binance Smart Chain (BSC) network-based crypto token that’s used for each and every transaction on JumpTask.- JumpTask’s primary goal is to enable companies to have their microtasks completed by the global workforce, thus providing people worldwide with a chance to earn extra money without lengthy time commitments or special training.
JMPT Allocation Explained
100,000,000 JMPT have been created during the token launch. This number is final: there are no plans to create any more tokens in the future to grow the supply. Instead, JumpTask has presented a burning mechanism, that will decrease the total supply down to 10,000,000 JMPT until the end of 2024.
The entire amount has not, however, been released into circulation at once: a major part of it remains locked for the time being to avoid price manipulation and will be released into circulation during the 2022–2024 period.
JMPT’s entire supply has been divided into 5 distinct parts:
- Product and Partnerships (50% — 50,000,000 JMPT). This money will cover all the expenses related to attracting new partners to join the JumpTask ecosystem, ensuring smooth onboarding, and developing the necessary integrations for the product.
JumpTask strives to build and foster a sustainable business platform where partnerships play a vital role. Moreover, every new partner and task module adds to creating the ever-growing demand for JMPT. Since the platform has only been launched two months ago and many partnerships are still to come, the majority of these funds will remain locked until they’re needed for the business to expand. - Team (20% — 20,000,000 JMPT). Since this sum has been fixed to incentivize the team in the long term, it will remain locked for the entire first year of the project. In the eyes of the investors, this is also a sign of the project’s reliability: with the team only getting a portion of JMPT in a year, it is impossible for it to close the project early in the game.
- Research and Development (16% — 16,000,000 JMPT). Allotting a percentage of JMPT to R&D will allow the team to stay in touch with the demands of the global workforce at all times and align the direction the platform will be taking in the future with them.
- Marketing (12% — 12,000,000 JMPT). Marketing campaigns serve to spread brand awareness, inform the platform’s potential and existing users, and shape JumpTask’s public image in the industry. Marketing efforts also include starting and maintaining online user communities on various social networks and communication platforms.
- Liquidity Pool (2% — 2,000,000 JMPT). Just like the name suggests, these funds are used to provide liquidity for decentralized trades. They are locked in a smart contract.
In the graph below, you can see how tokens from each category are currently planned to be released into circulation during the 2022–2024 period.
No ICOs or Crowdfunding
JumpTask was launched in January 2022 without any initial coin offerings (ICOs) or external funding. Instead of an ICO, JumpTask is funded entirely via the sales of the token, which are primarily made by its partners, looking to compensate JumpTask users for completing the tasks they have supplied.
The platform’s CEO explains: “These days anyone could launch and even build a hype with a public ICO — however, that’s not what makes the project solid. First and foremost, you need to create actual value. We’re not just launching a crypto project — we’re building a community with which we’re going to revolutionize the gig economy by moving it into the world of decentralization).”
In addition to this, an ICO puts a huge part of the total token supply in the hands of investors, leaving too little for the project progress and growth. This also makes newly released tokens very susceptible to value fluctuations and, in turn, hype fluctuations.
The Value of Partnerships
JumpTask works by consolidating various online earning opportunities in one convenient platform, which makes partnerships a crucial element. “Allocating the largest amount of JMPT towards partnerships’ development was a strategic decision: having more partners on JumpTask will ensure an abundance of tasks for our users and a strong demand for our token, which will in turn guarantee strong appreciation and positively impact its market value,” CEO points out.
JumpTask’s first official partnership with the passive income app Honeygain has been especially rewarding: not only did Honeygain help JumpTask reach a massive global audience, but its team also shared a lot in terms of practical experience and know-how. They also developed a JumpTask mode on their app to help its users get to know the new project in a familiar space.
Having initially planned to only introduce one new task module per quarter, JumpTask launched the Beta version of its second one on March 21. Until now, the users were able to earn JMPT by sharing their internet bandwidth with Honeygain’s network — and now, they’ll also be able to profit from Offerwalls, where the tasks will be supplied by two new partners: AdGem and ayeT-Studios.
Looking to join the most exciting crypto project of 2022? Sign up on JumpTask. Buy JMPT. Side with the leaders.
