Enkidu
Enkidu is a decentralised collaboration platform that allows engineers, designers, creators, even coffee brewers and sculpture makers all over the world to come together to build and sell products online.
In today’s world, there are millions of freelancers, contractors, temps and on-demand workers in the world all having one thing in common: They’re all part of the ever-expanding billion-dollar gig economy. They take up these short-term gigs either as a side job or their full-time source of income.
Platforms like Upwork.com and Freelancer have built their foundation on such statistics. Low income households and teenagers are more likely to use such platforms and earn extra income for a living. Also, on such platforms, your skills matter more than the college degree you have. This makes gigs accessible even for those who don’t own a degree.
Enkidu attracts these four types of freelancers:
- Free agents. Who derive their primary income from freelancing;
- Casual earners. Who use freelancing as a supplement to their day job;
- Reductants. Who derive some income from the freelancing market but would prefer traditional jobs;
- Financially strapped. Who freelance to avoid a particular financial crisis.
Enkidu is a platform that makes global collaboration easy for small teams and projects looking to make passive income. The core functionality of the app is centered around a unique payment gateway, that makes the entire process trustless. Here’s what Enkidu offers:
- A global collaboration platform where individuals can find like-minded collaborators. All of this on a public platform with each individual carrying a rating.
- A digital contract that binds collaborators on mutual acceptance, with payment splitting figures decided beforehand. This splitting happens in ENK tokens.
- A “resolution” voting system that has a private record of resolutions passed by the collaborative entity. Unlike a full-blown DAO like Aragon, this resolution system is lightweight and built for organizations under 5 employees. The payment gateway programmatically obeys the resolutions passed.
- The ability for all types of businesses with products or services to make investments with their tool or service and enter payment splitting agreements.
- A time-locked smart contract vesting system that prevents premature rewards post a collaborator’s departure.
- A mechanism for setting a treasury threshold and maintaining liquidity.
- A mechanism to prevent treasury and IP abuse with Enkidu holding the collaboration domain in escrow.
- An abuse-proof votekicking system that allows teams to remove poor contributors, along with IP Protection.
- A sales and affiliate commission mechanism that works programmatically.
- A graduation system that allows projects, once large enough, to move off the system; essentially forming a Joint Venture or a partnership.
- All of the above tied to a Smart Contract based payment gateway that handles trustless payment splitting.
Enkidu takes a fixed 0.5% transaction fee for every transaction on the platform. This 0.5% fee is split into two equal parts.
- The first half goes to the Enkidu team, for business operations.
- The second half is burnt from existence, thereby appreciating the value of the token as more transactions take place on the platform. As the platform scales, so does the value of the token.
The Payment gateway is where all the action (and math) happens. The Enkidu payment gateway is simply a smart contract address that is generated for each project. Sometimes, multiple addresses are generated for each project to facilitate sales commissions and affiliates. End users (customers) pay in ENK tokens, ETH, BTC or in FIAT currency.
If a payment is made via ETH, BTC, will be used an exchange API (floating token exchange in the future).
- Once the Payment gateway has converted the incoming payment into ENK, the payment splitter smart contract kicks in, with the ENK pool being split across portion holders on the cap table.
- The Smart contract honors time periods and calculates rewards based on vesting periods, while distributing vested funds to respective payment split holders. All vesting happens post departure. Collaborators can set risk exposure by setting “time to withdrawal” - which can be instant, 24h or a custom period. This determines when the inbound ENK is converted to FIAT via an Exchange API for the collaborator.
The core of the team is the founders of the software development company AvalonLabs - CEO Varun Mayya and COO Shashank Udupa. Also the project is supported by the advisors Jay Smith (CMO, FACTOM) and David Drake (Founder LDJ Capital).
❌ Don't miss new reports