📜MuggleLink WhitePaper
MuggleLink WhitePaper: A PEER-TO-PEER HUMAN COLLABORATION SYSTEM
A PEER-TO-PEER HUMAN COLLABORATION SYSTEM
MuggleLink WhitePaper
18 April 2024 / 4:30 PM / Draft
OVERVIEW
MuggleLink's mission is to make people work together by Crypto, allowing individuals to have the freedom of choice and the power to own the results of their work.
During the Industrial Revolution, workers needed to go to the factories every day. With the Information Revolution, programmers now go to the office every day and sit in front of a keyboard. The fundamental way humans collaborate hasn't changed; it's still based on valuing time. Marx called this method of labor "alienation" — selling one's time, unable to choose when and where to work, unable to own the results of one's labor.
The arrival of the pandemic and the rise of the Web3 industry are starting to change how humans collaborate. Some people are adopting remote and flexible ways of working across time and space. People need a tool to connect with each other and to securely and frictionlessly exchange work outcomes and rewards.
PRODUCTS
MuggleLink consists of the following 3 components:
Web3 Freelance Service Marketplace:
A Telegram MiniApp that connects freelancers and buyers, with services priced by SKU and delivered based on results. The first step is to open market services, such as allowing Telegram channel owners to link their channels to MuggleLink, and Web3 projects can promote their brands by publishing content on cooperative channels.
Escrow Payment Protocol:
A smart contract on-chain, where the buyer pays funds to the contract, and once the seller delivers the goods/services, the buyer confirms receipt, and the seller receives the funds. In the future, it will be a peer-to-peer exchange for EVERYTHING. Disputes will be arbitrated by the Muggle DAO.
Muggle Earn:
If you are neither a freelancer nor a buyer, you can still earn points by expanding MuggleLink's user base (points will be the basis for receiving airdrops). Inviting friends or participating in MuggleLink campaigns can earn points.
GOALS
Scale up to 100 times the size of Fiverr within 3 years.
Fiverr is the most well-known freelancing platform in the Web2 domain and is already listed on the New York Stock Exchange. However, we believe that the market for the entire freelancing platform is much broader than what it can currently serve. Compared to Fiverr, we have the following advantages:
Frictionless: Fiverr collected $361 million from its $11 billion GMV in 2023, accounting for over 30% of its GMV. Whereas we offer an almost frictionless service fee of 1%.
Crypto payments: Fiverr does not support crypto payments; we do, which will be very friendly to Web3 enterprises and convenient for freelancers without bank accounts to earn money. MuggleLink is open to EVERYONE.
Leveraging the base of 900 million MAU on Telegram: In its 14 years of operation, Fiverr has attracted a total of 4.1 million buyers and needs to pay huge advertising fees to acquire customers from companies like Google. In contrast, MuggleLink is based on Telegram's user base of 900 million MAU, serving existing and new collaboration demands, and is expected to reach 40 million users within 3 years (about 4% of Telegram's MAU).
Support for high-value orders: In its early days, all orders on Fiverr were $5, and expensive fees and credit card-based payment methods discouraged high-value orders from being transacted on Fiverr. The single order transaction amount that MuggleLink can handle will be more than 10 times that of Fiverr.
MuggleLink's goal is to achieve GMV 100 times that of Fiverr within 3 years, and market cap to reach 5 times that of Fiverr.
ROADMAP
Phase I: Genesis
2024Q2: Launch Web3 Freelance Service Marketplace V1.0
2024Q3: Mining Program with the Reward multiple 16x.
Phase II: Renaissance
2024Q4: Token issuance
2025Q1: DAO Governance
Phase III: Prosperity
2025:
Launch Web3 Freelance Service Marketplace V2.0
Escrow Payment Protocol(integrate with Apps more than MuggleLink)
Phase IV: Freedom
2026:
Crypto-friendly region localization
Escrow Payment Protocol - Multiple-chain
TOKENOMICS
$mLink will be supplied in 4 phases. $mPoints is the basis for users to obtain $mLink airdrops. Users can obtain $mPoints by inviting friends and using MuggleLink products. The earlier the stage, the lower the difficulty of obtaining it.
Purpose of $mLink: $mLink is the user’s governance right and ownership certificate for MuggleLink. Users can participate in governance based on the $mLink they hold. MuggleLink will repurchase $mLink regularly with the proceeds. Users can obtain projects by holding $mLink. value-added benefits of development. In addition, $mLink also has the following uses:
Use MuggleLink's services at a discount
Improve your buyer and seller rankings and make it easier to grab orders
Redeem it as a ruling ticket to handle disputes, participate in the ruling and share the dispute handling fee
*The specific distribution ratio will be determined by discussion in the Muggle OG community. If you have opened more than 10 boxes before May 1st, please contact the administrator to join the OG group.
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