AIP-472: ApeLance: WEB3 Freelance Marketplace on ApeChain

Disclaimer: Due to the recent approval of AIP-436, all AIPs requesting an allocation denominated over US$250,000 will require a super majority approval of 69% of the total number of votes cast. The Foundation has already begun coordinating to develop our new Snapshot strategy to automate these new decision making guidelines, however, we will ensure compliance with this guideline manually in the interim.

This AIP falls above that threshold and will require 69% of votes to be approved.

PROPOSAL DESCRIPTION

ApeLance is set to transform the freelance landscape by offering a secure, transparent, and efficient platform powered by blockchain technology. By ensuring instant payments, confidentiality, and a robust verification system, ApeLance provides a reliable and innovative solution for freelancers and clients worldwide.

The Problem: Traditional freelance platforms often charge high service fees (up to 40%) and can delay payments for several days or even weeks. Freelancers and clients alike face issues with trust and transparency, as the terms of service and payment processes are controlled by centralized entities. In some regions, payments cannot be received, and transfers do not go through. With Web 3.0, we aim to ensure equal rights and opportunities for everyone across the globe.

ApeLance Competitive Advantages

⭐ ApeLance: The Solution ApeLance leverages smart contracts on ApeChain to automate and secure payment processes. Payments in ApeCoin are instant and transparent, significantly reducing the risk of non-payment or delayed payment. Smart contracts hold funds in escrow and release them upon the completion of predefined milestones, ensuring that both parties fulfill their obligations. Payment delays can disrupt the cash flow for freelancers. By utilizing ApeCoin and smart contracts, ApeLance ensures immediate and secure payments upon task completion, providing financial stability for freelancers.

⭐ Easy Account Creation Creating an account on our platform is simple and does not require any personal information. Users can register using their wallet address created on ApeChain or their MOCA ID. This approach ensures that the personal information of both contractors and clients remains confidential, while also enhancing the platform’s usability regardless of the user’s location or background. ApeLance aims to eliminate these biases and create an equal opportunity environment for all users.

⭐ Bid Bidding allows freelancers to offer their services at competitive rates, ensuring clients receive the best value for their projects. By creating a competitive environment, clients can choose from a range of bids that suit their budget and quality expectations.

⭐ NFT Verification and Badge System The NFT Verification and Badge System is a key feature of ApeLance that allows users to verify their NFTs and receive a badge on their profile. This badge serves as a mark of authenticity and credibility within the ApeLance marketplace. Verified NFT badges provide clients and freelancers with an added layer of trust, knowing they are dealing with genuine members of the NFT community. NFT users can easily find and connect with others who share similar NFTs, fostering a sense of community within the marketplace.

⭐ Conclusion ApeLance is set to transform the freelance landscape by offering a secure, transparent, and efficient platform powered by blockchain technology. By ensuring instant payments, confidentiality, and a robust verification system, ApeLance provides a reliable and innovative solution for freelancers and clients worldwide.

Freelancer: An individual who offers their services on a project-by-project basis, often working independently and remotely.
Client: An individual or entity that hires freelancers to complete specific projects or tasks.

🌍 Facts about Freelancing Worldwide

▶ Statistics

Growth: The freelance workforce is growing rapidly, with an estimated 59 million freelancers in the United States alone, contributing $1.2 trillion to the economy. Freelancing is a global phenomenon, with freelancers from around the world offering their services to clients across borders.

Flexibility: One of the main reasons people choose freelancing is the flexibility it offers in terms of work hours, location, and choice of projects. Freelancing allows individuals to have more control over their work-life balance, leading to higher job satisfaction and overall well-being.

Cost-Effectiveness: For companies, hiring freelancers can be more cost-effective than hiring full-time employees, as they only pay for the work done

Speed and Efficiency: Freelancers can often complete projects more quickly and efficiently than traditional employees, as they are highly motivated to deliver quality work. Freelancers bring fresh perspectives and ideas to projects, contributing to innovation within companies.

🪙 Freelance Industry Financial Statistics:

▶ Statistics

Revenue Growth: The global freelance market was valued at $1.5 trillion in 2020 and is projected to reach $2.7 trillion by 2028, with a compound annual growth rate (CAGR) of 6.2% from 2021 to 2028.

Regional Revenue Distribution: North America accounted for the largest share of the freelance market revenue in 2020, followed by Europe and Asia-Pacific.

Sector Contribution: The technology sector is the largest contributor to freelance revenue, followed by design and creative services, and administrative support.

Freelance Platform Revenue: Online freelance platforms generated $5 billion in revenue in 2020, a significant increase from previous years, driven by the shift to remote work and the gig economy.

Our goal is to create a blockchain-based P2P freelance platform to capture 0.1% of this rapidly growing market. Unpredictable events such as the COVID-19 pandemic and subsequent isolation have demonstrated that people’s lives are not fixed. The next generation dreams of working on diverse projects from anywhere in the world rather than settling in one place.

BENEFIT TO APECOIN ECOSYSTEM

Increased Utility for ApeCoin

Payment Medium: Using ApeCoin as the primary currency on ApeLance will increase its demand. Freelancers will receive payments in ApeCoin, encouraging them to hold, use, or trade it within the ecosystem. ApeLance will facilitate numerous transactions daily, boosting the transaction volume and liquidity for ApeCoin._

New User Acquisition: By targeting freelancers and clients globally, ApeLance will attract new users to the ApeCoin ecosystem, including those who have not previously engaged with crypto. ApeLance will encourage active participation from the ApeCoin community, including developers, designers, marketers, and other freelancers, fostering a vibrant and collaborative environment. The platform will help businesses find skilled freelancers quickly and efficiently, driving economic activity within the ApeCoin ecosystem._

NFT Verification: The NFT verification feature will incentivize NFT holders to use and hold ApeCoin, increasing engagement within the ApeCoin ecosystem._

Long-Term Viability: The decentralized and transparent nature of ApeLance ensures its sustainability without reliance on a central authority, aligning with the principles of decentralization and self-sovereignty central to the ApeCoin community._

The 0.1% of the market we are targeting amounts to $500 million, representing the total sales between employers and employees. We will generate revenue by taking a commission from these transactions.

According to our estimates, payments for jobs can be made using all types of coins available on ApeChain, with the commission structure as follows:

• 0.5% marketplace fee will be charged if paying and receiving payments using ApeCoin.

• 1% fee will be charged if payment is made in other coins.

The 0.5% (ApeCoin) and 1% (other coins) fees would only be collected from the client, ensuring that freelancers receive the full payment for their work. This approach aligns with our goal to attract and retain top talent by maximizing their earnings.

Aside from the marketplace fee, the core features of Apelance will be free to use. However, we plan to introduce premium features in the future, such as enhanced profile visibility, advanced project management tools, and access to exclusive job postings. The costs for these premium features are still being finalized and will be competitive with market standards.

[Please continue reading the rest of this AIP on the ApeCoin DAO Snapshot and Discourse]

------------ Important Note for BOTB NFT voters --------------

IMPORTANT NOTE: Unfortunately, due to the character limit of the BOTB Snapshot, the AIP contents on ApeCoin DAO Snapshot could not be fully duplicated here.

Therefore, please read the full AIP contents on the ApeCoin DAO Snapshot and Discourse before casting your vote on the BOTB Snapshot: ApeCoin DAO Snapshot link: https://snapshot.org/#/apecoin.eth/create/0x708364c923d0cff47f994c39170ed45fce2c6041bd413ffdf3f101d9ef0a911d

https://forum.apecoin.com/t/aip-472-apelance-web3-freelance-marketplace-on-apechain/24602

Thank you very much for your kind understanding.

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Members will vote with BOTB NFTs on our BOTB DAO Snapshot. Delegated voting will then be done on the ApeCoin DAO Snapshot with the botbape.eth wallet.

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