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Nano Gigs - Give and receive help on XRP ledger

Nano Gigs is like "Quora meets Fiverr". It's a platform where anyone can request for help while others can help. In return, the helpers receive tokens that represent their reputation or to cash out.

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Inspiration

People are willing to answer questions for free on Stack Overflow and Quora. But those are just Q&A.

Meanwhile, people are actually earning as low as $3 per gig on Fiverr. Fiverr takes $2 commission on a ridiculous 60:40 split! This leaves the service providers with nothing basically. Moreover, Fiverr is not an effective way for them to showcase their work.

So, how about we merge them together like "Quora meets Fiverr". Thus, Nano Gigs is born.

What it does

It's a platform where anyone can request for help while others can help. In return, the helpers receive free tokens which is used as their reputation meter or they could also cash them out.

The main motivation is to help others. But since no act is selfless, we created the crypto token called NAN to offer the following incentives to helpers.

  1. As a reputation indicator meaning the more tokens someone has on their profile, the more helpful they are.
  2. The tokens can be cashed out since they are actual cryptocurrency. They could potentially swap them for cash on a DEX.
  3. This platform also acts as the place for helpers to showcase their talents since their answers are publicly visible. This can lead to paid gigs or even a fulltime job.

Helpers can begin by doing small tasks where someone skilled in the trade would take less than 1 hour to complete them. These task are like graphic design, design NFT, copywriting, translating, video editing, photo editing, setting up website, voice over and a lot more.

Unique Value Proposition - Ukraine War Effort and Fighting Recession

Nano Gigs can assist in the Ukraine war effort by empowering global citizens to help Ukrainians to perform tasks remotely for free to rebuild their lives and country. Ukraine's Internet service is still active.

This platform could help us to help others to weather the incoming recession. In return, we help ourselves by building our reputation and could eventually lead to job acquisition.

Current features

It is highly customizable with many awesome features:

  • Asking and answering help.
  • Voting, comments, best help selection, follow-on and closed requests.
  • Complete user management including token-based management.
  • Create experts, editors, moderators and admins.
  • Fast integrated search engine.
  • Categories (up to 4 levels deep) and/or tagging.
  • Easy styling with CSS themes.
  • Supports translation into any language.
  • Custom sidebar, widgets, pages and links.
  • SEO features such as neat URLs, microformats and XML Sitemaps.
  • User avatars (or Gravatar) and custom fields.
  • Private messaging.
  • Safe from XSS, CSRF and SQL injection attacks.
  • Beat spam with captchas, rate-limiting, moderation and/or flagging.
  • Block users, IP addresses, and censor words

How we built it

We built it with the aim of not "reinventing the wheel." We reuse existing open source code and extensively customize it to build into what we envisage Nano Gigs to be. Which is why the UI may not look that appealing but this can be improved later.

We also integrated the code with XRP Ledger testnet and created a fungible token called NAN. This is the crypto token that shall be used in the platform.

Challenges we ran into

Biggest challenge is managing optimum demand and supply of our tokens since this correlates with its value.

If we have too many free tokens in circulation (high supply) but low demand, this will lead to low token value (aka inflation). To counteract this, we can reduce the amount of free tokens given to new users when they sign up. This requires users to purchase more tokens from a DEX in order to perform more requests, thus increasing its demand. We could also increase the minimum withdrawal amount of tokens when users wish to withdraw their tokens from our platform. Just like increasing the reserve requirement in fractional reserve banking.

If we have low supply of tokens but high demand, this will increase its value which will make it expensive for people to ask for help. To control this, we increase the amount of free tokens giveaway during registration. We could even run airdrops too. This closely resembles how central banks print money (aka quantitative easing). We could also reduce minimum withdrawal amount which encourages people to cash out their tokens, thus creating more supply. This is reminiscent of decreasing the reserve requirement by central banks.

To speed up circulation (velocity of token), we assist to allocate more requests for helpers to do by working with non-profit organizations that need help.

Accomplishments that we're proud of

Our formula in managing the supply and demand of our NAN token.

What we learned

To a human being, no act is selfless. But people are actually willing to help others if they are given the right incentives and this incentive isn't always money.

What's next for Nano Gigs - Give and receive help on XRP ledger

This project is still in MVP demo stage. We hope to collaborate with others to bring this platform into reality.

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