Freela x Satoshi Club AMA Recap from 18th of May

Hello, Satoshi clubbers! Another AMA took place in Satoshi Club and we would like to introduce to you the AMA session with our friends from Freela and our guests were @Mahadev1114 and @Val313. The AMA took place on 18 May.

The AMA session was divided into 3 parts with a total crypto reward pool of 500$

In this AMA Recap, we will try to summarise the most interesting points for you.

Part 1 — introduction and questions from the Telegram community

Mary | Satoshi Club: Hello Satoshi Club! We are happy to announce our AMA session with Freela! Welcome to Satoshi Club😀

D. | Satoshi Club: today our guests – @Mahadev1114 and @Val313 ! 🚀

welcome to our club guys!

Mahadev Vasireddy: Hello Guys! Thanks for having us here ❤️

Valentin Donstetter: Hello there !

Mary | Satoshi Club: Hello! Happy to see you here 👍

How’s going?😉

Valentin Donstetter: Glad to be here with you

Everything fine thx, how about you

Mary | Satoshi Club: I am fine as well! So, let’s start our journey to the freelance world?😀

And we will start it with your intro😀

Valentin Donstetter: indeed 😀

Mahadev Vasireddy: Should say wonderful. Community involvement levels in Freela are just out the world and we are loving it

Mary | Satoshi Club: Could you please introduce yourself and tell us more about Freela😉

D. | Satoshi Club: awesome! im very happy for your project 👍

Valentin Donstetter: so I’m Valentin Donstetter, CMO of Freela and entrepreneur, worked during 10 years in e-commerce with High-Tech refurbished products and collectibles. In Blockchain space since 3 years, making good friends 🙂

Mary | Satoshi Club: You choose nice time to start😀

Mahadev Vasireddy: Coming to myself, I pursued Computer Science from Penn State University and comes with an entrepreneurial background and training. I am the Vice Chairman of elite educational institutions, Vasireddy Venkatadri Institute of Technology (VVIT) and VIVA The School. In the last couple of years, I executed responsibilities as Global Ambassador of both VVIT and VIVA, playing a crucial role in establishing partnerships with Government and various MNCs including Google, Siemens and Coursera.

From our website:

Mr. Mahadev’s innovative thinking and knowledge about industry 4.0 led to the idea and inception of Freela, a Defi-powered, commission-free, P2P and self-governing DAO. He envisions Freela to be a game changing Blockchain unicorn and the future of freelancing facilitating a win-win platform for both employers & employees ensuring “right person on right job for the right pay at no extra cost”.

And for people who are not familiar with Indian Institutions, VVIT is the 3rd biggest college of engineering in the state of AP and rated among the top 25 most innovative colleges in the entire country by govt of India

Valentin Donstetter: enough for seeing the last crash 😂

Mary | Satoshi Club: [18.05.21 18:52]

You have awesome background! Sure it will help Freela to reach a lot!

Ohhh, don’t remind 😂

And how Freela project was born?

Mahadev Vasireddy: We are doing our best 😅🙏🏻

We’re not reinventing anything, in fact we are just here to provide a full featured platform for Freelancers associated with Blockchain technologies.

I personally don’t think freelancing as a space has even started moving compared to its potential. So biggest market share and all is just an illusion even if it’s already a huge field.

Freelance platforms are very famous, but are suffering of a lot of shortcomings, and the features provided by Freela will play a big part in this adoption phase.

At the end of day even freelancing companies are acting like a middle man by charging around 20-25% of each work. So we decided to see if its possible to re-visualize a model where the employee gets paid in full by using all the new tech like blockchain, Defi pools and Dao (patent is filed for the whole model).

I always found it funny how it was always called “freelancing” but never free 😂

For going to the essential, It’s the only model/platform that provides every feature that centralized companies like upwork or fiverr provides and still charge nothing literally…

In simpler words, Freela is a decentralized freelancing platform powered by DeFi and built on top of Polygon. By utilizing the strengths of blockchain, Freela offer conveniently settled, effectively mediated and commission-free services to freelance workers and the people and businesses who want to hire them. The platform is designed to operate on a P2P basis with the ultimate goal of becoming a self-governing DAO

Think about Fivver, Upwork, etc but hosted on blockchain gathering features from centralized platforms with the features and benefits from blockchain.

Mary | Satoshi Club: Sounds very attractive 😍 i was a freelancer for some time and i know how important is to choose right platform

Mahadev Vasireddy: Trust me….we are yet to meet a freelancer that is happy with the existing platforms 😅

Mary | Satoshi Club: I will😉

Thank you for your intro, guys! Do you want to add something or we can go to the questions from our community?😀

Valentin Donstetter: Actually, the whole freelancing world is suffering, I just looked few days ago about how Uber drivers and food delivers are litteraly hostage from such structures

so I guess it’s the good time to launch such platform

we can go I guess 🙂

Mahadev Vasireddy: Sure

Mary | Satoshi Club: Sure! Hope it will be a big new start for freelance 🚀

Valentin Donstetter: 🙌

Mary | Satoshi Club: @Cool_as_Ice shoot it 🚀

D. | Satoshi Club: thank you for the intro guys!

Q1 from Telegram user @NataliyaKil

I read that after a successful private sale round, Freela’s team is working on their next IDO BSC pad and Poolz. Meanwhile, work will continue to prepare the platform MVP in June 2021, with the first client onboarding scheduled to begin in July 2021? Can you already announce the next IDOs for us and tell us about your plans to connect users?

Mahadev Vasireddy: https://alpinecapitalmarkets.medium.com/how-can-we-make-freelancing-actually-free-and-fair-freela-has-the-answers-b201edbbba8b

I would seriously suggest you guys to read this when possible

Mary | Satoshi Club: Sure! We will definitely read it!

Valentin Donstetter: Yes, we plan to start onboarding clients in July.

We will have a double IDO on BSCPad and Poolz the 27th may, and more should be announced very soon concerning that ! so keep an eye on our social media 😉

Twitter : @Freela_official

TG Official : t.me/FreelaOfficial

TG Announcement : t.me/FreelaAnnouncements

Mary | Satoshi Club: Can you tell us how many tokens will be for sale? Or it’s also a secret now?😀

We love secrets here and always keep them😉

Valentin Donstetter: Not sure we can share such information yet, but everything should be revealed soon by our Partners 😉

Mary | Satoshi Club: Got it! Thank you for your answers! We will follow your updates!

Mahadev Vasireddy: Ok let me share some thing

Valentin Donstetter: lol

Mary | Satoshi Club: Sure🚀🚀🚀

Mahadev Vasireddy: One of the biggest players in space is going to announce about us today and their opinion on the project 😉.

want one more?

Mary | Satoshi Club: Wow!!! Waiting for this!

Mahadev Vasireddy: We have some T1 news coming up this week and I am quite confident that community will hear it 😉

Mary | Satoshi Club: So many events 👏👏👏 your community won’t be bored😉

We will keep our eyes on Freela announcment channels 😀

Mahadev Vasireddy: 😂

Lets go to the next question!

Mary | Satoshi Club: First question and so many intriguing answers😉 i feel we will have even more!

Let’s go 👍

Q2 from Telegram user @Arisabela

I’ve worked with many Freelance platforms before and one of the main disadvantages are the high rates to pay in fees. Also in most of them the freelancers have to subscribe to a premium offering to have an opportunity in these competitive platforms. Can you tell us the advantages of Freela regarding these two subjects?

Mahadev Vasireddy: Very simple, we made Freela literally Free without any commission, and we added a Complex Reputation System to it.

The Reputation level of an employee allows accessing varieties of jobs that he can apply on the platform. Reputation level of an employer permits access to various talent pools available over the platform.

It’s based on four aspects each of 25 points, totaling it to 100 maximum points.

Identity Verification – 25 Points

Weighted Average Rating System – 25 Points

Arbitration Rating – 25 Points

Tokens Staked – 25 Points

Check our Whitepaper for more information on that

D. | Satoshi Club: why you decided to avoid commissions on your platform?

what is the source of income then?

Mahadev Vasireddy: Basically, we could say the problem starts from the beginning, with actual platforms charging huge amount of fees to Freelancers and individuals for micro tasks (20/25%)…

I always found it funny how it was always called “freelancing” but never free 😂….So I felt if at all there is a company/service that can be called freelancing, its us!

It would be difficult to be competitive here if we wanted to launch a regular business, but we decided to see if it was possible to re-visualize a model where the employee gets paid in full by using all the new tech like blockchain, Defi pools and Dao (patent is filed for the whole model).

In even simpler words, Its the only model/platform that provides every feature that centralized companies like upwork or fiverr provides and still charge nothing literally

Mary | Satoshi Club: 😀

Mahadev Vasireddy: In other words, we were lucky enough to figure out a whole model to replace the existing one instead of trying to fight with numbers. For example, if upwork is charging 20%, it takes huge effort in reality to cut it down to 15% and do the same thing. And would you be really interested in using a new platform for just that small 2-5% difference? prolly not

But when we were able to say its a difference of 20-25% of the income you make…then we are talking

And happy to say that we have filed a patent for the whole model

D. | Satoshi Club: nice! thank you for detailed answers!

Mary | Satoshi Club: Thank you for your answers! Ready to proceed?

sure

Valentin Donstetter: let’s go

Q3 from Telegram user @yellowchamp

At Freela focused on “right person on right job for the right pay”. Employers pay all to the employees with no commissions in between. So,how does Freela chooses a right person on a right job? How does your platform knows that someone is really fits for the job? What qualifications will be need to undergo by the applicants? If employers pay all to the employees with no commissions in between,how about tax, who will shoulder it? In Freela, do you also offer insurance pay like health insurance or any other insurance as benefits to employees? Thank you

Valentin Donstetter: let me take this one ^^

Mary | Satoshi Club: Everything for you 🙂

Valentin Donstetter: Actually, Freela doesn’t choose anyone, it provides all tools for that qualified people and companies can interact with each others without a 3rd party involvement.

Not sure what you mean about tax. If you want to be paid in crypto you will for sure need to check with your own country tax policy toward crypto.

At Freela we’re offering a Saving Service to Freelancers and Employes, for sure we’re thinking about more things to implement 😉

was mostly for our CEO 😂

Mary | Satoshi Club: Btw, what about regulations etc? Do your users will need to pass KYC verification?

Valentin Donstetter: KYC is not necessary, but is a part of Freela Reputation System

So if people or companies pass KYC, it will increase their Reputation on the Platform

Mary | Satoshi Club: Gotcha!

Mahadev Vasireddy: So as long as they dont need access to fiat gateway and dont need the reputation points from it, they can skip it.

Mary | Satoshi Club: That’s great! Thank you for your answers!

Q4 from Telegram user @Pirry05Universe

How is Freela able to combine the DeFi liquidity and DAO governance groups to avoid at all costs a future centralization of the project, what strategies does it implement for this?

Mahadev Vasireddy: We actually use almost everything what Defi actually is…. 😅

1. Multiple Defi liquidity pools for the platform functionality(more detail in the sent WP)

2. People able to stake both freela and Usdt in those pools for staking rewards

3. Governor role( everyone that locks/stakes 0.1% of the whole supply is going to be a governor on the platform that gets to vote in Dao decisions regarding every single detail of the platform like hiring/firing arbitrators, modifying arbitration percentage and any other decision regarding the platform infact. This is an alternative system for the widely used defi governance tokens so that we dont have to worry about 2 tokens for the same platform)

In simplest words, every element of the project is designed in a Defi manner. ” Recreating traditional financial instrument in a decentralized architecture(Heco-Matic), outside of company and centralized control( Dao and its governance)”- Forbes

Mary | Satoshi Club: Will you have pools on your platform or you will use third parties?

Mahadev Vasireddy: Tbh meme coins are fun to play around with once in a while but the real Defi projects like Freela are the ones that are here to stay. Reason why such big investors and ecosystems are working with us

Mary | Satoshi Club: True😀

Mahadev Vasireddy: To begin with we are going to use other partners (good ones 😉) for pools and staking. But once the platform is ready we are going to have pools on the platform itself for the real functionalities of the platform. Which should hugely benefit token holders

D. | Satoshi Club: and when your platform will be ready for this?

Mary | Satoshi Club: Super! Btw, is your platform safe? Did you apply for any audits?

Mahadev Vasireddy: Our roadmap mvp at the next month and then 1 month for mvp testing and if everything goes well we should be launching the platform. So quite soon 😉

D. | Satoshi Club: perfect! 👌

Mahadev Vasireddy: Will be taking every bit of care we should be taking and will be getting audits done from some of the biggest guys in the space

Mary | Satoshi Club: Fantastic! We will be waiting for results!

Thank you for your answers! Ready to jump to the next question?😉

Valentin Donstetter: sure

Q5 from Telegram user @imwiiw27

Staking pool is one of the feature of Freela, and Freela Staking has 2 options: (Arbitrator Fund & Savings) Arbitrator Fund is fixed and only USDT is allow to stake. Can you please explain why its only USDT can stake? Do have plans to add other cryptocurrency or token?

Valentin Donstetter: So the reason with going for USDT in arbitration is that, the main purpose of its existence is to be the financial buffer to make sure the arbitration operations are not going to be effected even if something goes wrong. And as you are aware, Its takes a quick second in Crypto markets for something to go wrong and market starts over reacting and leave alone bear markets. So being in any other token thats not a stable coin is putting the financial buffer in the hands of the market. Which is not really a smart thing to do for any company.

D. | Satoshi Club: got it, will you add other stablecoins as well? some people don’t trust USDT 😁

Mary | Satoshi Club: It has sense 😀

Mahadev Vasireddy: yep prolly going to have all the possible ones

And guess what

time for a spoiler?

Something our CMO himself doesnt know yet 😉. We are involved with some of the biggest Market making funds and algorithm traders in the space. Who are capable of promising certain %profits on average over a span of year. But most people in the space dont know that because they dont offer to everyone. Only to their partner companies and so on. So we are lucky to have connections and supporters of that caliber to facilitate that to freela. So the USDT buffer is not going to stay idle, its going to slowly increase by itself. So imagine the safety because of being in USDT but still make gains for your platform fund

[ 🛏 Sticker ]

Q6 from Telegram user @ngohuynh

Investigate your project in depth, I can see that you plan to fully integrate with African markets, can you give us more details on why the project is of interest alliances with African markets? do you intend to expand to the global market? What benefits does the project gain with these alliances?

Valentin Donstetter: We are planning a complete integration with the global market, African market is itself a heavy one in huge expansion and we will of course take also advantage from it.

Mary | Satoshi Club: Yes, it’s really heavy, which will be your first steps to attract users attention?😀

Valentin Donstetter: Well you know, the first step is to release the platform. Once the platform is ready to launch we think all features are here to attract users, with support of community and some good marketing. we expect it to be pretty fast. Also We are planning to be a one stop solution for any projects and teams in coming days (this has not even been announced to partners yet 😉). So the plan is to make sure you will be able to find Developers, designers, writers…..animation guys…website and even community managers and more…. So it’s like a one stop solution for the up-coming projects who don’t want to be wasting their time with the not so important stuff.

Mary | Satoshi Club: Thank you!

And we came close to live part now 😃

Part 2 — live questions from the Telegram community

Q1 from telegram username @KhaleesiTheCryptoLady

Does a student like me can also be a freelancer on FREELA? What requirements do I need to acquire in order to get a job on FREELA? Also, what if I have completed a particular job in time, will I get paid instantly?

Valentin Donstetter: Anyone can join Freela and being a Freelancer, in order to have the best chances to get a job, you will need to increase your reputation.

Once your task is done, it’s review. After approval, and being reviewed, if no problem the funds will be automatically unlocked, and the freelancer paid.

Q2 from telegram username @Eminet001

How is freela better than other established competitors,

What benefits do I get for using this platform.?

Valentin Donstetter: Freela is developing the next one stop solution for every Freelancers and Companies on the market.

We provide such features :

No commission

Professional Mediation

Intuitive UI

Traditional Payments

Self Governance

Complex Reputation system and more features that makes Freela literally erasing every actual Freelancing Platforms

Q3 from telegram username @mobilejii

✅✅ you mentioned earlier about the reputation points but I want to know in detaIl can you provide me whitepaper please?

Valentin Donstetter: You can find our Whitepaper on thefreela.com 😉

Q4 from telegram username @AugusS7

You mention that Freela guarantees better quality work for the employer and the best remuneration for the employee, but could you really tell us how it manages to reward the employees even more, and at the same time achieve a more efficient work for the employers?

Mahadev Vasireddy: Pretty simple. By not killing the efficiency of the work dynamics by taking a share of the work value. For example, you have a plumber work and 100 usd to pay for it.

In case 1: The company can get you a plumber but will charge 25usd for the task. Which means the plumber gets 75 usd.

in case 2: The company can get you a plumber but will charge nothing for the task. Which means the plumber gets 100 usd.

So in both the cases, you have the same work done and same expense of 100 usd. But then why would you go with a 75 usd Plumber when you can get a better plumber that charges 100 usd(assuming the plumber rates are organic and balanced to skill of course). So obvious choice would be going with case 2. and the company in the case to is FREELA.

Q5 from telegram username @Karoceh

You mentioned that employee will get paid in full. Then how will Freela generate profit? can we know how Freela revenue model? how will you maintain the platform?

Mahadev Vasireddy: Freela revenue model is a quite interesting one that intrigued some of the best minds in this space. So would be really hard to explain in couple of min but it has been very clearly documented in the whitepaper. So please give it a read to understand how different techs and models come together to make that a possibility.

Q6 from telegram username @cindy_crypto

What do I need for joining your IDO on BSCPad and Poolz and do you require KYC?

Valentin Donstetter: For joining our IDOs we invite you to follow BSCPad and their process.

Each platforms have differents rules 😉

Q7 from telegram username @nitrogenpower

How much do you cut from me after I complete my work if I work as a freelancer on Freela?

Valentin Donstetter: Nothing ! lol

Q8 from telegram username @Robotliker1

For identitiy verification reputation points what documents are accepted and how safe will be my documents, what are your plans to prevent its misuse?

Mahadev Vasireddy: Identity document verification will be handled by a professional agencies that are fully legal and audited. So we are not planning to do the KYC by ourselves. going to have a 3rd party involved

Q9 from telegram username @yellowchamp

Why did Freela choose Polygon(Matic) as the gateway payment for Freela transactions? How convenient it is for Freela users to use Polygon(Matic) for Freela transactions? Do you plan to add more Blockchain to integrate in the future for an additional option for Freela users? If you get some advantages from Polygon (Matic),in return what benefits that Polygon can get from integrating in your platform?Thank you

Mahadev Vasireddy: Polygon is not a payment gateway, Its a Layer 2 protocol on eth for easy, faster and cheaper transactions. It would be hard to pay the high gas fee for freelancers everytime they do a job. So we are integrating with Polygon guys to make sure the transactions can be done at near zero cost aswell. Aside from all this, Polygon team and project is just wonderful imo and the success they are getting is all deserved imho. Happy to be associated with them

Q10 from telegram username @alptrader

How can I buy your token right now how can I invest to Freela?

Mahadev Vasireddy: Best question in the whole list 😉. We are going to be listed on Uniswap, pancake swap and prolly more on 27th 😉