REBAKED — designing the Ownership Economy for outsourced workers
Cryptocurrencies unlock a new economic model for networks that are built, operated, and owned by their users. This is being defined as the Ownership Economy for outsourced workers. It enables ownership or a financial stake to the participants of a project. It is upon this philosophy that ReBaked is built, revolutionizing the concept of work from how we know it to giving freelancers a stake in the project.
ReBaked is the self-motivated work-from-anywhere platform that plans on redefining the current transactional outsourcing model. They are redesigning how we perceive work in a post COVID enabled world.
Whilst the functionality has similarities to existing outsource platforms such as Upwork and Freelancer, in that they link companies and freelance collaborators with a variety of skill sets, ReBaked enables greater collaboration between project owners and freelancers by facilitating the opportunity for freelancers to earn additional funding beyond agreed contracted rate through bonus structures.
What Is ReBaked?
ReBaked is founded on the three pillars of collaboration, merit, and balanced risk allowing freelancers to bid and if accepted will sign a sponsor-collaborator contract that will guarantee them a minimum payment and with structure bonuses based on deliverables. Bonuses will be paid out by the sponsor for stellar work done by the collaboration ensuring equitable pay in return for exemplary work.
The ReBaked platform is designed to provide an enabling environment for entrepreneurs to build teams with a collaborative effort with freelancers rather than just outsource tasks or processes at the lowest cost. This allows for greater collaboration by fostering cooperation over the competition while still giving creators access to a large pool of talent allowing freelancers to hyper-focus on their strengths.
How Does it Work?
Imagine you have a great business or product idea or an improvement on your current offering, but you do not know the skill required and/or the time to build the solution yourself. You may not even know how to write an accurate or correct brief to find the best talent to help you. Nor would you know if they are the best fit for the project because you don’t know what you don’t know.
With popular outsourcing platforms like Upwork and Freelancer, there is little to no threshold regarding who can apply for jobs. This will inevitably lead to lots of applications from freelancers that do not possess the required skill that is suitable for the job costing money and time.
With ReBaked, freelancers are hired on a minimum payment, and based on their performances they can significantly earn more money. This reduces the economic risk for the project owner if the freelancers’ skills don’t meet the requirements.
Sponsors — Harnesses the Power of DeFi
A sponsor is an individual that provides funds and liquidity to support the work of collaborating teams on ReBaked.
ReBaked allows users to sponsor projects that interest them. Sponsors lend capital to decentralized teams with fixed interest rates, covering the incurred costs racked by the project.
These sponsors provide liquidity to development teams after ensuring that the set criteria have been met and they believe that the project holds great promise. Upon the expiration of the fixed term, tokens are put for auction through a Dutch Auction Offering in which the auction begins with a high asking price, and the price is gradually lowered until a bid is made by persons interested in the project.
For the sponsors, they recoup their capital and earn an interest which translates to a win-win for all parties involved.
Staking on ReBaked
ReBaked also provides a means for users to earn yield aside from sponsoring projects through the staking of tokens in Guardian Bonds. Rewards are gleaned when the platform incurs charges and not through inflations like the other protocols.
A 5% fee is earned by the persons who stake when their staked tokens are part of sponsored projects. Tokens can be accessed after protocol rewards have been shared amongst users. Users that participate in staking automatically become eligible to take part in the governance of the protocol.
The goal of ReBaked is to provide a constant stream of funding for community-owned projects on the platform through collaborative teams hosting offerings with reduced prices that will be attractive to investors.
Persons who buy these tokens must hold the incentivized tokens for a minimum of 12 months. This automatically places buyers of the token in a long position, generating a stream of capital for the project through a continuous token agreement designed for the Ownership Economy.
If you’re looking to try out an innovative method to the current methods of sourcing the right talent to build out your ideas or to be the talent that contributes to delivering on an entrepreneur’s vision, it’s worth looking at ReBaked as an alternative to current outsourcing platforms that chase lower cost vs highest value. ReBaked is looking to empower the entrepreneurs and workers on their platform to be part of the Web 3.0 Ownership Economy.
For more information on Rebaked please visit them at:
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Disclaimer: My research and articles are for educational and information purposes only. My views are my own. They are not investment advice.