Tokenizing the Gig Economy: How JumpTask Utilizes JMPT
Experts often say that whether you choose to invest in stocks or cryptocurrencies, you must always #DYOR (Do Your Own Research). That’s easier said than done: there are many factors affecting the values at any given time, and some of them are impossible to predict in advance. Nevertheless, the team of JumpTask gave a lot of thought to shaping the platform’s business model in a way that enables investors to feel a lot more strongly about JumpToken’s future and face minimal risk!
- JumpToken (JMPT) is the token used for all transactions on the platform. This translates to inbuilt demand which grows with every new partner and earning module.- The supply of JMPT is finite — there are no plans to create any new coins. Moreover, a significant part of JMPT holders are opting to HODL their earnings.- Ever-growing demand and limited supply will have a constant and positive impact on JMPT’s value.- JumpTask will launch each earning module using the direct business model at first to simplify onboarding new partners. Next, it will function as a task marketplace, which will finally be revamped using decentralized protocols and blockchain.
A Project That Answers Global Needs
The idea of JumpTask is simple: our partners offer the app’s users to earn JumpTokens (JMPT) by completing the microtasks they offer. By doing so, it solves not one but two relevant issues:
- It helps companies (or individuals!) that have a need for microtask completion to satisfy it without hiring full-time employees and trusting the global workforce instead
- It enables people worldwide to earn extra money, no matter their skills or experience
In time, JumpTask strives to offer the biggest selection of microtasks that users can get paid to complete — but we all have to start somewhere, right? And let us say, JumpTask has definitely started strong!
We’re thrilled to say the decision to partner up with Honeygain has brought us incredible results: we delivered on our promises for Q1 in record time! Less than two months after launching JumpToken (JMPT), the coin already has 77K+ holders, and the number of transfers involving JMPT has surpassed 100K. Moreover, JumpTask itself already has 247K+ active users!
Even though JumpTask only has one official partner for now, that’s not going to be the case for long. The second task module has already been announced to launch mid-March — this time, it’s going to be Offerwalls. In total, there are currently 15+ task modules in plans, including but not limited to surveys, app testing, ad watching, and small-scale translations.
A Business Model That Creates Token Demand
The main factors that affect the value of any crypto token is demand and supply. The more users want to buy a coin, the more its value grows; the more people sell it, the cheaper it gets.
With JumpTask, the demand for JMPT comes from two main sources: the platform’s partners need to buy tokens to be able to compensate users for the tasks they complete, and the users or investors can HODL their tokens expecting for them to grow in value as time passes.
Being the primary token that fuels the JumpTask remote work platform, JMPT has an exclusive strength that most other tokens on the market do not possess — a high inbuilt demand. Every partner of the JumpTask platform has to obtain funds in JMPT to be able to offer the users their tasks and compensate them for timely completion.
Furthermore, the more partners join the platform and the more task modules are launched in the upcoming months, the more this type of demand will grow — which again will add to raising the value of the token.
Guaranteed demand means that JumpToken is not about to lose its relevance — which translates into more stable value and minimized risk. In the words of Binance’s CEO Changpeng Zhao, ‘No value is created by issuing a coin. Value is created when people use it.’
Since the users are free to choose whether they HODL their tokens or spend them, some of them will get back into circulation, where JumpTask’s partners can buy them — and as they compete to get the tokens they need, they boost the demand once again, raising JMPT’s price even further.
17,900,000 JMPT have been issued at once during token creation. It’s important to understand that JumpTask never had an ICO or any other type of initial fundraising — which means the project is funded solely through the sales of the token.
Therefore, the tokens are being released into circulation based on the project’s needs. If, for example, 12% of the total supply is allocated for marketing costs, it will be released in small portions every time the team plans a new campaign, signs a new sponsorship deal, revamps the official website, etc.
100,000,000 JMPT is the final number: the team has no plans to issue more tokens or burn any existing ones to affect the value dynamics (the total amount, however, will be unlocked gradually throughout a 5-year period). As we take the amount fluctuation factor out of the equation, the guaranteed demand can play an even stronger role in ensuring the value of JMPT doesn’t crash at any given moment.
Entering the Decentralized world
The cutting-edge idea of JumpTask is certainly a breath of fresh air into the current gig economy scene and has all the potential needed to become the leading crypto project of 2022. Nevertheless, however groundbreaking new innovations are, they do come with their own challenges. A new business model is harder to both launch and find partners for. This is exactly why JumpTask is approaching the decentralization world in three distinct steps!
To simplify onboarding new partners and building the necessary infrastructure, the platform will launch every task module in three steps:
- First, it will operate as a direct business, ensuring a clear and hiccup-free onboarding process for all new partners
- Next, it will move on to a microtask marketplace, giving partners more control over their task offerings
- Finally, it will decentralize the module by using smart contract templates — which means no more involvement will be required from JumpTask itself.
Having obtained the necessary know-how and built a solid partner network, JumpTask will be able to decentralize the platform completely and guarantee a smooth user experience for businesses and earners worldwide.
This step-by-step approach is also the reason why a comparatively significant number of the total JMPT supply (20%) is allocated for the project’s team. During the first two stages, a lot of team’s involvement will be needed: they’ll be developing and maintaining the platform, finding and onboarding partners, ensuring excellent user experience and support.
Each of these functions requires more than just a plethora of man-hours — experience, knowledge, and dedication are also musts, and the team’s efforts must be compensated adequately. Reserving a portion of funds for the team allows us to make sure we can create a solid product with great user experience and massive impact on the global crypto economy.
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