Bounty hunters are freelancers who offer their skills at discounted rates compared to traditional companies and agencies. Most companies choose to use these professionals instead of hiring teams permanently in order to save on costs. It’s a win situation for both parties. However, traditional freelancing hubs are riddled with multiple challenges that are frustrating to users. They charge high fees to job posters and they also charge freelancers for withdrawing their earnings. The withdrawal process is also very challenging a slow. It may take days or even weeks before a freelancer receives their money from the moment they initially withdraw their funds.
Now there is a project that has a big future. to solve all problems with the exchange system and bounty hunters.
This bloger will discuss how the Loonie Network is developing platforms that solve challenges that are faced by crypto enthusiasts.
The Loonie Token is an Ethereum ERC20 token. All the transactions of the token are calls to an thereum smart contract that executes the transactions on behalf of the calling address. A user who is transferring tokens to another invokes a transfer function on the Loonie Smart Contract which then moves those funds from one wallet to the other. All the unsold tokens will be split between Airdrops and Jury funds (For resolving disputes in the Freelancer Platform).
Loonie Network is developing in three phases starting with an exchange for bounty tokens where bounty participants will be able to trade their minute value tokens easily and intuitively using an offline order matching engine combined with smart contracts for peace of mind.
One Platform
Three Different Services
The Loonie Bounty Exchange
To help ease the troubles faced by bounty hunters, we are developing a platform where bounty hunters can come and trade their hard earned tokens easily and intuitively without having to worry about trade limits. Trade limits are the biggest issue that causes bounty hunters to give up in frustration and we want to eliminate that hurdle and hence motivate bounty participants to continue doing their work knowing that as long as their token is listed at an exchange, they will be able to exchange that token on the Loonie bounty exchange.
Our platform will have an offline matching engine where users orders are matched, as soon a seller finds a matching buyer, they will send their tokens to a smart contract and the system will notify the buyer that they can now send their payment to the smart contract and the smart contract upon receiving the buyer’s payment will release the payment to the seller and send the tokens to the buyer.
Freelance Platform
Loonie Freelancer will solve the payment problem by using cryptocurrencies to pay for services. In the early stages, Job posters will be required to pay in either Eth or LNI tokens. Those that use Eth tokens will only pay 1% fees. That is a significantly lower fee than the average paid on traditional platforms. After our exchange is fully operational, the users will be able to pay for services in several tokens and coins.
Using crypto means the Freelancer will be able to receive their payment instantly. The Job poster will only pay if they are satisfied with the quality of the work that they received. This is to protect the clients from being offered poor service and never returning to the platform. In the long run, this will be good for the Freelancers as well since happy clients means repeat business.
To protect Freelancers being swindled by unscrupulous clients, we have a milestone payment system. The client will be required to pay a certain percentage once a certain milestone has been completed. Of course in a democratic environment, we will always have those that want to take advantage of the system by claiming that the work was not satisfactory and in so doing, they hope to get a service without paying for it.
The Platform will have a jury system where token holders are chosen at random should a dispute be raised. The platform will allow both parties to raise a dispute if they are not satisfied with what they received from the other party, be it in service or payment. (A portion of the LNI tokens will be allocated for paying the jury in the first semester after the platform is launched.)
Once the dispute has been raised, the system will randomly choose token holders and notify them that they need to perform jury duty. Those that are chosen will have the choice to accept or decline the duty. If they decline, another is chosen, until a quorum is reached. They will then independently review the case and vote anonymously, whoever loses the vote will have to comply with the demands of the other party. The ones who partake in the jury duty will be compensated for their efforts in tokens as long as there is still enough supply of the tokens from the project. After the Dury duty tokens are depleted, Eth will be used to compensate the jury.
The Loonie Dex
The Ethereum blockchain requires that every transaction is paid for, the fees are used to pay the miners for processing the transactions. In a completely blockchain based exchange, even canceling an order is paid for and therefore costly and slow as the exchange speed is completely determined by the blockchain status. Imagine placing an order and having to wait 3 minutes for the buy/sell order to be placed, then waiting for it to be fulfilled and are forced to pay for everything you do, whether by accident or design.
The funds are kept usually in one or a few wallets controlled by the exchange. These exchanges are easily targeted by hackers because of the centralized nature. In fact, Billions of dollars worth of coins and tokens have been stolen from exchanges since cryptocurrencies were born. I’m sure most of you have heard of the infamous Mt. Gox hack.
Relayed Decentralized exchanges offer the best of both worlds. The speed of order matching of centralized exchanges and the security of the blockchain. Users don’t send funds to any centralized wallets to be kept by the exchange owners, instead, the user is given some form of token that they can use to place orders and once the order is fulfilled, the relay then initiates the actual blockchain transaction.
We will utilize the 0x protocol which allows us to build our user-friendly and intuitive order book then the protocol relays the order book to the Ethereum blockchain. Since the order book is offline, it allows us to give the users the speed of the centralized exchanges and offer other services like limit orders, which are not possible with purely on-blockchain exchanges.
LOONIE ECOSYSTEM
Our Platform Will Give Users An Opportunity To:
- Consolidate Bounty tokens.
- Sell their valuable services and earn crypto.
- Exchange crypto currencies in a decentralized and anonymous environment.
Loonie Network will be rolled out in three phases. In phase one, our bounty exchange will allow bounty hunters to consolidate their dozen tokens into one or two that they can then easily trade either directly on the platform or on their preferred exchange.
Phase two will see the introduction of a fair and affordable Freelancing platform based on smart contracts to ensure all parties involved are protected.
Phase will bring a new kind of decentralized exchange.
TOKEN DISTRIBUTION
TOKEN SALE
Total Max Supply: 130 Million LNI
Crowdsale: 65 Million LNI
Bounty and Airdrops: 13 Million LNI
Marketing & Branding: 32.5 Million LNI
Team: 19.5 Million LNI
ICO LIVE NOW
For More Information Clik Link Below :
Author : Letty sits
MEW : 0x822E5C6A30c4F19EAB048f957e4729eF56bCcA7F
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