Opolis, a digital employment cooperative offering high-quality, affordable employment benefits and shared services to independent contractors, freelancers, digital nomads, solopreneurs, and sole-practitioners, today announced the launch of its new community patronage token, WORK.
The Opolis Employment Commons (Commons) spent the past year developing an economics model that rewards members of the Commons for patronage activities described as payroll consumption, new member referrals, and staking. As a utility token for governance, staking, and patronage distribution inside the Commons; owners of WORK must be an Employment Commons Member to receive full benefits.
“We’re aligning the incentives and outcomes of our community around the activities that accrue value and ultimately build a sustainable, member-owned public utility infrastructure for the Independent Worker. We start in the US, but plan to expand globally to serve a global workforce.”
– John Paller, Executive Steward of Opolis
During the genesis allocation, the Commons will mint and distribute 315,000,000 WORK to Commons stakeholders. There is no max cap for the amount of WORK that can be generated although WORK is only minted as specific growth milestones are met by the community members.
Immediately following the completion of the genesis allocation, 27,800,000 WORK will be in non-treasury circulating supply. 165,000,000 WORK is allocated to the Commons Community and 150,000,000 is allocated to the Commons Trustee; Opolis, Inc.
Superfluid and RaidGuild collaborated with the Opolis core team in building the technology that will deploy WORK to the Members of the Commons. Superfluid will continue its partnership with Opolis to bring streaming finance to payroll and other employment-related use cases.
“Opolis is using Web3 technologies to upgrade the work experience for the 21st century. Streaming salaries and incentives are basic components in our vision of the future, and we are extremely excited to partner with Opolis to realize this vision together.”
– Francesco Renzi, Co-founder & CEO at Superfluid
To read more about the details of WORK, check out the token economics paper here.