Recapitulation of CRYPTOTASK PROJECT AMA event held at AMA LOVERS CLUB.
Date: Monday, 22nd February, 2021
Time: 17:00 UTC
The CRYPTOTASK PROJECT team was represented by @Ivan_n4 & @Ved_bundy who judiciously shared with us detailed knowledge and information about CRYPTOTASK PROJECT.
1st Segment: INTRODUCTION
Q1: Can you please introduce yourself and your background, also introduce the Team working on the CryptoTask Project?
ANS: Of course, I am Ivan, CryptoTask CEO, I hold an MBA, I've been leading leading software dev teams for 10+ years, been doing research and development in the cryptocurrency niche since 2013. CEO, app dev company, me and my team have created the official game for influencer Dan Bilzerian, “Save Dan”, which was downloaded 2.5 million times. Worked with a lot of big clients like Ericsson, T-mobile, Hertz…
@ved_bundy is Vedran, CTO of CryptoTask. PHD from Cardiff University UK. Blockchain R&D since 2012, author of the world’s first decentralized strategy game, Etherization. One of the first Solidity developers in Europe, with extensive knowledge about decentralized ecosystems.
Q2: Can you introduce the CryptoTask Project, what critical problems does it solve that existing solutions are not solving and what's the competitve advantage?
ANS: CryptoTask is a decentralized freelance marketplace, think Upwork on blockchain, with numerous benefits over centralized competitors, like lower fees, better dispute and payment systems, less censorship and generally a far better UX for freelancers and clients both. We are tackling all the big issues in online freelancing (which is a $1.5 TRILLION niche).
Our customers are primarily freelancers and employers fed up with traditional freelancing pain points:
- Huge fees for both freelancers and employers (30%+)
- 20% of freelancers are unbanked (we're solving that with crypto payments)
- Biased and inefficient disputes
- Job value is often limited
- Fake reviews
- Late payments
We are solving all these issues with the use of smart contracts and other blockchain unique features which allow this to happen, also we have a much lesser overhead than traditional platforms so we can afford much lower fees while staying profitable.
Q3: Can you briefly describe the Top milestones you have achieved and your target milestones with timelines, also share your roadmap?
ANS: Sure, we acquired the biggest central EU freelance job market, www.freelance.hr, 30 000 users with a sign up rate of 100 users daily, with 100+ daily transactions written to the mainnet. Month-over-Month growth is 11.5%. We received Aeternity seed investment of $100k and deployed on AE blockchain in 2019. The English section is on www.cryptotask.org. So, we have a fully working platform on blockchain.
Next milestones include escrow system implementation (funds are safe and kept in the smart contract until job is done and both sides are happy with the outcome), affiliate system - where users can connect freelancers and clients and earn a nice fee, onboarding new freelancer organizations we are in contact with and raising our usercount to 300k+ in 2021. So buckle up, it will be an exciting ride!
2nd Segment: LIVE Questions
Q1: How can private companies/projects post job updates and is there some tutorial on how to make use of your services? In short what's the ease of use of the platform and what valuable Partnership plans do you have in your scope?
ANS: Good question, companies can update their projects/jobs whenever they wish, we encourage you to open the account as a client on the platform www.cryptotask.org, it is really simple and takes less thank 30 seconds and you are ready for your first job. We have 24/7 live support chat in case you will have any questions. 🙂
Q2: CryptoTask launched farming on the GYSR platform, few days ago, For starters interested in farming, do you have any instructions or tutorials on how to get started, also are there any risks associated with farming?
ANS: Thanks for the interest, of course, here is the farming tutorial: https://cryptotask.medium.com/farming-instructions-f974e7b9887e
Q3: Can you explain in more details about "Crypto Task Farming"? What are the advantages of "Crypto Task Farming"? How can I join and what are the process?
ANS: Thanks for the interest, you can join NOW, I just posted the tutorial and here is the FAQ where all the questions are answered, advantages are high yield and the ability to earn CTASK. https://cryptotask.medium.com/cryptotask-farming-faq-4a80a7f475f9
Q4: How has GYSR as one of the partners of CryptoTask contributed to the growth and development of the platform so far and what kind of relationship is between GYSR and CryptoTask?
ANS: gysr partership has been really important for us, we are now in short but intense farming phase, and gysr recognized the value of the project. For us it was great using a feature rich farming platform, so we didn't have to develop farming smart contracts from scratch. We also got access to gysr community. The response was great, our liquidity shot up over 1M usd, and also created buy pressure on the CTASK token. You can still joing farming, APY is over 700% https://app.gysr.io/geyser/0x1299521eb22187a4c1dab454d4ecf687ecea3750 you will need to get first ctask-lp tokens from depositing uniswap liquidity, CTASK token address is 0x196c81385bc536467433014042788eb707703934
Q5: 1. Farming just started yesterday and so the APY should still be very high. What is the current APY and how lucrative will the Farming be?
2. Apart from Trading and Farming , what other benefits can I get by having the $CTASK token?
ANS: Yes, APY is around 700%, we have a 7 days of a boiling period, where users collect additional bonus, after that the rewards start coming. Other benefits will include many great discount and opportunities on the platform itself for CTASK holders like premium job listings, featured freelancers etc.
Q6: Congrats on the huge success of the farming on the GYSR platform with TVL exceeding $450k, initial APY started at over 7000% and is currently around 790%, will the current APY be maintained or it will keep reducing?
ANS: thank you, really awesome response. it is not pretty stable at just over 700%, so still great time to join. Def anything with apy over 200-300% is hot ;)
Q7: Please give a brief overview of tokonomics and token supply of $CTASK ? And Will there be any form burns and buybacks? What does that intend to achieve for you and does it incIude any form scarcity paths such as stake, store, or burn?
ANS: yes, there is burning by connecting with revenue streams, please go to about.cryptotask.org
Q8: $CTASK metamorphosis is a laudable one, How have you been able to survive this longest bear market and continue building and developing cos many projects have died out in this time period?
ANS: Great question, I'm glad somebody recognized what we've been through. 🙂 It was very hard, but at the same time we knew how important thise project is for the future of work itself, so we bootstapped and kept working, what we are preparing will change the way people work online and 2020 showed us remote and freelance future is REALITY, not only a distant future.
Q9: Can a student like me become a freelancer on your platform? What requirements do I need to meet in order to get a Frelancer job on your platform? And if I have completed one particular job will I get paid instantly?
ANS: yes, you can :)
Q10: Question: How do you plan to support and develop developers on your platform? What incentive programs for developers exist in Cryptotask? In the future, do you have any plans to expand more developers operating on your platform?
ANS: We already have the lowest fees in the industry and many develpers are part of our community, I would even say that developer jobs are posted most frequently, so we are definitely dev friendly 🙂
Q11: How does GYSR intend come with built-in important features such as time bonus periods and boiling period, and how do they intend giving you access to the friendly GYSR farming community which should further improve the synergic?
ANS: yes, these parameters are really important, for example boiling period prevents an early inflation of new CTASK tokens into the existing circulation, so farming has time to get traction and subsequent interest into the token can absorb the new supply - and more :)
Q12: I'm a freelancer, related to data minery and data analysis, are this categories listed on your platform? How is Cryptotask better than other recognized platforms like Freelancer, Fiverr and others?
ANS: Yes, there are such categories, feel free to create a profile and apply for any job that interests you. We have numerous benefits over centralized competitors like 10x lower fees, instant payout, truthful feedback system written on the blockchain, far better and faster dispute system and many more... 🙂
Q13: Will binance smart chain be implimented and other big exchanges?
ANS: that is a possibility.
Q14: Community support is one of the biggest aspects of project success. Most projects have programs with which their users interact. Does Cryptotasks have a specific plan to attract and expand the community and improve the user experience?
ANS: Yes we do, you can already work as an affiliate and invite people to join CryptoTask, you will later be awarded with bonus tokens. 🙂
Q15: It says on your website that fees are only up to 3% because you eliminate unnecessary overhead, who must pay this fees? And what do you do with the fees collected on the platform?
ANS: they can be 0% for the most basic posting, task with no escrow etc. in case of escrow client and freelancer pay a small fee that is used to buy off and burn ctask tokens.
Q16: What is your vision and ambition to create CryptoTask? Can CryptoTask be considered as an online job exchange for people who want to find the right jobs for them?
ANS: We are giving freelancers worldwide a better and safer option to do what they do best and focus on that, rather than on many problems they suffer now (like huge fees, fake reviews, late payments, weak reputation system, etc.). The power of the blockchain really shines in this example and we are very happy to say that we have over 30 000 users, who already recognized our platform as a leader in disrupting the usual online freelancing niche. We are growing very rapidly and will continue to grow even stronger.
Q17: When using CryptoTask, how can users save and optimize costs and time? How effective will the solution that you bring to users be and widely disseminated?
ANS: Of course, that is the whole point of our platform. People are generally fed up with bad conditions in regular freelance markets and want an improvement badly, us being freelancers themselves, we know how can we improve and give them an opportunity to earn more and focus on what they do best. Competition is a huge platform with very large overhead and they simply cannot afford to change their systems dramatically in order to benefit freelancers, because they would lose profit, and that is what their shareholders dread.
Q18: What are the requirements and eligibility for being a crypto task freelance and Is There any language barriers In Dealing with clients?
ANS: Anybody can create an account and start working, no barriers at all, english is the default language, so no issues there as well. 🙂
Thank you guys for the awesome questions! I invite you to join our telegram group and become a part of our growing community!
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