The Elrdond network has been exploding in activity this year with a number of new projects and businesses beginning to build and utilize the Maiar Exchange. Among the first companies to establish themselves is a brand that is seeking to build an efficient and rewarding platform utilizing blockchain technology to allow both freelancers and employers to get ahead in the new gig economy.
With our ability create value for a company increasingly becoming mobile, remote work opportunities are on the rise. Some even go so far to say that the gig economy is the future of employment. The Black Hat Network was created to fill the void of this nascent yet steadily growing industry. They are on track to lauch their freelancer marketplace sometime in the near future and has recently released a launchpad to help other new companies get their start in the crypto world.
TopIQ Marketplace
The core product of The Black Hat Network will be their TopIQ Marketplace where freelancers and employers will be able to connect all around the world and settle their accounts near instantly using the Elrond Network. At this moment they have already begun distribution for BHAT, the token they will use to power this platform and have a liquidity pool set up on the Maiar Exchange for those who would like to acquire some today before the platform goes live.
The basic model: employers will contract with freelancers using BHAT as the medium of exchange. This BHAT can then be staked to earn more BHAT as well as earn other perks or they can be exchanged for EGLD, stablecoins, or any other crypto currency wherever BHAT is traded, or to fiat and withdrawn to a bank account. All exchages will be done through a special escrow smart contract which will eliminate the chargebacks common with the current fiat systems. Additionally, everything done on the blockchain is fully visible and traceable meaning accounting work for your business and paying taxes just got a lot easier.
The economics of BHAT are described in their Economic Whitepaper and involves low fees for using the service combined with incenves to hold onto your tokens for further rewards and part ownership of the profits. Much like the Elrond network, there will be an initial period of three years where holders may recieve rewards through inflation and then afterwards a mechanism to deliver profits will take over. Because this is profit driven the APR of long term rewards for holding BHAT will fluctuate with adoption and have no ceiling. The more people use the service, the more fees will be available to share.
Currently there are opportunities to earn BHAT rewards through Metastaking and Metabonding on Elrond's Maiar Exchange.
BHero Launchpad
While the marketplace is due to be released early 2023, the launchpad is already in progress. This is a full service program that helps with every aspect of project management helping to guide all elements from the technical to the legal, to business and beyond. If you need support creating your crypto business, they can help.
After their own collection called BH Agents, they recently launched NFTim and are counting down the minutes until the launch of their next project Sense4Fit with more yet to come (the next is announced to be a game called Cosmic Factions). A holder of BHAT will get access to special perks here. There is a special leveling system that requires you to stake BHAT and then get additional EXP by holding LP tokens or BH Agents. The higher the level you climb, the more accessible the launchpad will be to you, and then later the marketplace. If you would like to participate in any of the projects that launch here you will want to get familiar with how this works.
NFTim
After their own NFT project came NFTim, a company that provides web development tools and services accessible to those who hold an NFTim. Each class of NFTim grants access to a higher level of products.
Sense4Fit
An exercise focused project with an upcoming release on October 18th at 15:00 UTC that will be an exercise-to-earn app that pays you to exercise in their native token to exercise.
BH Agents
Black Hat's own NFT collection for those who would like a deeper experience of their ecosystem. Holding one of these will increase your level and make you eligible for periodic airdrops and other special perks. The collection is currently available on xoxno.
Blog
To keep up to date on Black Hat go check out their blog where they have information on everything to do with their ecosystem as well as providing an excellent resource for those who wish to learn more about the Elrond Network and cryptocurrency concepts in general. You may also occasionally come across special deals such as this discount on Kryptodots.
Links
BHero Blog
bh.network
BH Launchpad
Economic Whitepaper
Technical Whitepaper
Litepaper
Black Hat Network Roadmap
Telegram Channel
Twitter
TopIQ Marketplace
Disclosures:
I do not currently hold any NFTs from BHN or their launchpad partners and only hold an insubstantial amount of BHAT that I recieved from the metabonding and metastaking programs on the Maiar Exchange
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