What is Ethearnal?

Ethearnal is peer-to-peer (P2P) freelance system, in which employers and freelancers meet, enter into trustless smart contracts with reputation and money in escrow, and take advantage of a decentralized system of moderators, if needed. We collide reputation and economic initiatives into one by tokenizing reputation and giving it value. Thus, all parties, moderators included, have strong and aligned initiatives to act honestly, since everyone has something of value at stake, as well as something to gain if the desired outcome is achieved.

WHITEPAPER PRE-SALE Live Demo

OUR PRESALE APPLICATION FORM IS NOW OPEN

The investors control how and IF we spend the money!

Only 10% of the collected funds are released to us upon completion of the ICO. The rest money and the founders tokens remain locked in the smart contract. Once we run out of the initial 10%, we initiate a smart contract based voting process. We inform the community what we have done so far and for what we need the next 10% funding increment.

Every token holder can vote proportionally to his tokens if we should get another round of funding or not. If 51% vote no, we don’t get any money and continue working until the investors are satisfied enough to vote yes next time we initiate a voting process.

Every token holder can start a refund process!

At any time, anyone holding at least 1 ERT token can initiate a refund voting process. If 65% of the tokens vote for refund, the project is terminated and all remaining funds refunded proportionally.
So, at any time, we are in possession of only 10% of the funding and if we stop delivering on our promises you can get back the rest of your investment.

Dynamic hourly ICO cap.

Dynamic investment cap that increases every hour! $1000 worth of ether cap the first hour and then increased with $1000 every next hour. ($2000 cap per unique sender the 2nd hour, $3000 the 3rd hour and so on) This makes it inefficient to have huge gas fee to make your transaction go first and out place the smaller investors. You have new chance to participate every hour! That way a whale will have to compete with thousands of regular investors every hour. Leveling the playing field as much as possible (not bulletproof though) without invasive and bureaucratic onboarding process.

100% trustless, smart contracts based!

Code is law. All agreements are set in stone via the magic of trustless, self-enforcing Ethereum smart contracts. All parties have reputation at stake. The contract value is in escrow. Only if needed pool of moderators with reputation at stake step in and decide by simple majority vote.

Tokenized reputation!

We collide reputation and economic initiative into one by tokenizing reputation and giving it value. Your reputation is worth real money, can be bought, sold or transfered. You stake some of it when entering into a contract. The more reputation you have, more visible you are in the network and can participate in bigger projects. It’s up to the offer creator to set how much reputation he wants at stake but it’s to be expected that bigger projects will require more reputation at stake. Reputation is called Ethearnal Reputation Tokens or ERT and is what we are selling in our ICO.

Zero fees go back to the developers!

Depending on the case 0%, 0.5% or 1% is charged by the network but none of them goes back as profit to the developers. Everything is used back in the system to align the economic initiatives of everyone involved, including the token holders! Depending on the case those fees are used to buy reputation (ERT) tokens on the free market and award to the contract participants or distributed to the token holders in ether directly. We replace centralized, profit taking sites with self-sufficient technology and pass the savings to you.

Decentralized arbitrage by simple majority vote!

When there is dispute, a pool of moderators align to solve it. They have reputation at stake as well and game theory based initiative to judge honestly. Every token holder can be moderator and earn by solving disputes.

Freelancing is $1.5 Trillion industry ripe for dirsuption!

The freelancing industry is estimated to be worth over $1.5 trillion dollars in 2016. While this number is impressive, the trend is to go even higher at faster rates. Currently most freelance sites charge about 10%, some 20% and up to 30% in very rare cases. Most of that goes to support their hefty centralized infrastructure and staff and of course huge portion of it goes as profits in the pockets of few.

We finally have the means to replace them with technology and return the meaning of “free” in freelancer. Great thing about decentralized technology is that once build it can be made self sufficient and doesn’t require salary or profit.

So, how does it work?

As a freelancer you can publish fixed price gigs, browse job offers or wait for someone to hire you at your hourly rate.

As an employer you can browse gigs, hire freelancers by the hour or publish your job offer and wait for it to be accepted.

As soon as you match with someone you can enter into a smart contract, where each party stakes reputation tokens (ERT) in a smart contract. Reputation with actual monetary value. Contract value is secured in smart contract based escrow as well. If things go wrong, there is pool of moderators waiting to solve your issue by simple majority vote. Moderators have reputation at stake as well, and clever reward/punish system based on game theory to initiative them to judge honestly.

Freelancers need reputation token to get more work.

Freelancers are sorted by reputation by default. The more reputation you have, more likely to land more jobs, hence more money in your pocket.

Employers need the token to stake when hiring.

Since the employer needs to stake the same amount of reputation tokens as the freelancer, every employer needs them to be able to hire reputable people.

You need them to earn as a moderator.

Moderators need to stake tokens to solve disputes. Every moderator can more than double the stakes tokens for each dispute he solves successfully. People that want to work as moderators will buy tokens to start their career.

The system automatically buys them on the free market to reward freelancers and employers.

When a contract has finished without the need of arbitrage the system uses 1% of the contract worth to buy ERT tokens on the free market to reward the employer and freelancer. That way they receive reputation proportional to the contract value and it creates demand for the token. Thus indirectly benefiting the token holders by appreciating it’s value.

You earn ether just for holding them!

When the contract completes through arbitrage, no new reputation is bought. The already staked one by all participants is re-distributed in a clever way using game theory.

In this case the 1% deducted from the contract value is distributed among all token holders proportionally in ether directly! You earn ether just for holding tokens.

The token needs to have value for the whole system to work. That’s why it’s only fair if we reward the people that help support that value.

ICO 2.0

You control how and IF we spend your investment!

Tokenized reputation

Transferable reputation with actual monetary value.

Trustless

All agreements are in Ethereum smart contracts, where code is law!

Token Utility

A token that is actually useful in various ways!

Decentralized arbitrage

Worldwide pool of moderators with strong initiative to act honestly.

Affordable

Lowest fees in the world! 0% to 1%. Zero profit for the developers!

Refundable investment

You can actually get back your investment if the majority investors decide so.

Dynamic ICO cap

Making it harder for whales, and easier for smaller investors!

Minimum VIable Product

We are building BitTorren like web app, that can be run from every major browser, doesn’t need central server, doesn’t need TRUST in neither central authority or any party involved but is FAST and EASY to use.

Some of the technologies we use are: Kademlia DHT, Ethereum smart contracts, Inter Planetary File System (IPFS), Python, SQLite, CherryPy, OpenAI, WebCRT

We actually have a product which you can see right now and follow our further development.

Live DEMO GitHUB

Who are we?

Between the two founders, we have 26 years of experience in various online businesses and have been on both sides of the freelancing model.  We’ve been into Bitcoin since 2012, and into Ethereum since its ICO in 2014.

We are building this because this is what we would like to use. Since it’s finally possible to be done, we believe we are in the right position to collect the pieces.

We have international team and slack is our office.

Whitehat. Internet Marketer. Freelancing business for the last 10 years. Top seller at fiverr (fiverr.com/youngceaser) University drop-out. Crypto Evangelist.

Stanislav Uzunchev

Co-Founder, Marketing

Internet entrepreneur and investor. 18 years experiene in online business. Extensive experience in marketing, SEO and monetization. In Bitcoin since 2012, in Ethereum since 2014 (ICO).

Vladimir Vladimirov

Co-Founder, Marketing

Hacker. Writing code for 20 years. Experienced in Linux/BSD networking, search engines & databases. Worked for NASA & ESA software to automate processing & query on large scale raw satellite data.

Dobri Stoilov

Senior Back-end Developer

Expert in Solidity. Built and audited several ICO contracts. Vast experience in development for companies like: BlockchainLabs.nz, Amazon, UserTesting, Vault 12, Marketron. Betfair, Cisco.

Roman Storm

Smart Contracts Developer

UI/UX Developer and more. Created multi-million dollar business websites from scratch. Self-taught, university drop-out.

Paulius Kasiuba

Front-end Developer

Technical Physics drop-out. Speaks 7 languages, 5 of them fluently. If you recognize him, congratulations you have good taste in stand-up comedy.

Rami Spasov

PR

Typographer, graphic designer and illustrator. In the field for the last 6 years. Teacher and lecturer on typography, type design, and graphic design at University of Veliko Tarnovo.

Radimira Yordanova

Creative Designer

We are always looking for new people to join our team. If you think you can help us, e-mail us letting us know how.

Maybe YOU?

Creative Person

Smart Contracts Auditors

Authio is a smart contract auditing and consulting firm. Smart contracts are a complicated frontier technology that requires a comprehensive review by an experienced team. When things go wrong in a smart contract, it is usually irreversible. At Authio, we believe that every serious project needs a detailed security review. We want to make that possible for everyone.

authio.org

Smart Contracts Audit Firm

A.K.A BokkyPooBah. Quantitative developer in the traditional investment and banking industry but now builds on Ethereum. Runs cryptoderivatives.market decentralised exchange, audits smart contracts, building BokkyPooBah's Token Teleportation Service, advises several projects including oax.org, aigang.network, gazecoin.io and devery.io and runs Ethereum workshops.

Bok Khoo

Smart Contracts Audit Legend

Generous bug bounties.

Bug Bounty

1337 Hacker

In The News

Token Distribution

Hard Cap 30M$ in ETH
Total token supply 1000 x Invested ETH = Total ERT
Size of each funding round 10%
Votes needed to release a funding round 51%
Votes needed to get a refund 65%
  • Public Sale
  • Bounties
  • Founders
L
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image2017

Ongoing


Mar 2017 - Tinkering with the Idea

May 2017 - Research into Game Theory.

Jun 2017 - Research into Economic Initiatives.

Jul 2017 - Layout of the concept.

Aug 2017 - Planning the Minimum Viable Product functionality (MVP).

Sep 2017 - Starting Development of Proof of Concept (PoC) technology stack.

Oct 2017 - Starting Development of P2P Protocol with Kademlia style DHT.

Nov 2017 - Starting development of Web Browser UI ( p2p node client).

Dec 2017 - Alpha Release of MVP PoC

2018 image

Post ICO


Jan 2018 -  Ethearnal Initial Coin Offering (ERT ICO)

Feb/Mar 2018 - Integrate Ethereum smart contracts as DAO platform for freelancers and business.

Mar 2018 - Integrate IPFS to add another layer of data persistence and availability.

Apr/May 2018 - Develop own decentralized system for moderating and curating records.

May 2018 - Start building strong open source community contributions.

Jun 2018 - Release production network and software.

Q3-Q4 2018 - Iterate over continuous integration of new features and bug fixes.

Q3 2018 - Start development of mobile platform.

Q4 2018  - Release application for iOS & Android.

image2019

The Bright Future

OpenAI in the search engine and the Ethearnal Personal Assistant Bot.

Reddit ads on all subreddits for getting jobs for crypto. This is the smallest reach, but most targeted auditory.

Facebook ads targeting only people in crypto-related and freelance-related Facebook groups at the same time. The people who are in both at the same time are not much, but it is very targeted as well.

Linkedin campaign targeting anyone who is involved in crypto and has skill set in demand on the network.

AdWords ads to people searching for crypto- and freelance-related stuff.

Airdrop of ERT to all ether addresses with non-insigni cant balances.

Bounties for users of the system who achieve rst certain marks (i.e. jobs done, money spent, and so on), thus adding a gami cation element and opportunities to make announcements.

Measure performance. Adjust. Repeat.

Google Adwords at Google Search. Targeting 1000s of long tail key phrases related to online freelance work and finding freelancers (for the employers). Having 1000s of long tail phrases allows for much lower cost per click (CPC) with the bene t of having very targeted traffic.

Facebook ads optimized for high click through rates (CTR), so that the CPC gets lower and lower with time. This is how Facebook ads work. The higher CTR you have, the lower the CPC becomes. We will target fans of relevant freelance pages.

Follow us on all social media channels for a chance to participate in the pre-sale.