Work Fi is a financial layer for the DAO job industry and will remove the financial constraints thanks to DeFi.
Tokenization is a fantastic opportunity for teams to bootstrap their projects. Though there is a lot of competition today, and more and more energy and money are put in marketing to attract investors and then deliver roadmaps that are often fuzzy. For investors, competing for presales and whitelisting increase the distance with the project. Teams can propose full native token payment, with which freelancers can not be very comfortable. WorkFi want to fill the gap and provide solutions for : - Investors to be part of the project - Team to find real backers How ? A team can propose a bounty and give the opportunity for investors to buy native tokens for stable coins. Doing so, it provides more stable coins to the bounty and freelancers will be more likely to join. WorkFi will lock the token during the bounty and make sure that the investor will get an incentive during this period. At the end, when the job is done, - the freelancer gets the bounty - the investors get the native token If the job is canceled for any reason, funds are returned. WorkFi is intended to work on top of job boards willing to use its service.
How it's made
- Plugin available for job board website that allow the opportunity creation and participation - Smart contract that lock tokens - Real time distribution of incentives - Bounty status that triggers the WorkFi protocol - At the Payment, the WorkFi protocol calculates the amount that each actor will receive About Superfluid Integration WorkFi supports SuperTokens in managing stablecoin and native token payouts. This was motivated by three major reasons. Instant Distribution A bounty payout requires a transfer of tokens from the smart contract to multiple investors. Multiple transfers in a single call is gas expensive for the caller. While a design where investors have to manually withdrawal their payouts diminishes user experience. Using Superfluid’s Instant Distribution Agreement, upon a payout, every investor can receive their tokens immediately, at a fixed gas cost for the caller. Money Streaming We intend to implement a yield system for investors while their stablecoin is locked with the smart contract. Superfluid’s token streaming allows a daily yield system that doesn’t require investors to withdraw their yield. Batching Transactions Creating a bounty requires multiple steps (e.g. recruiter must approve the transfer of 2 separate tokens). Superfluid’s transaction batching reduces the number of transactions the user must sign. All these use cases aim to create a seamless user experience for recruiters, investors, and workers under WorkFi.