In the first part of the AMA, Sergei answered some frequently-asked questions from the community, moderated by Jassin, before the session was opened up to the floor. Here’s what was discussed. (Note: text has been edited for style only.)
Jassin
Let’s get started. The past 14 months have been very eventful for Chrono.Tech and the crypto space in general. How was 2023 for you personally?
Sergei
It’s been tough for me personally. I’ve had a couple of personal issues to deal with, but now I’m back kicking and ready to go for this cycle.
Jassin
Great to hear you’re back and ready to go. Let’s move right on to Chrono.Tech. How would you sum up 2023 for the project?
Sergei
As a project, we have moved forward more in the last year than we have in the previous five. We have started getting traction in LaborX for Gigs and Jobs. More recently, full-time jobs have been getting more attention, and traffic to the site has been growing constantly. It's great to see validation and that people are actually using the services that we are building. We have also started establishing some big partnerships – I’m sure everyone has seen those.
Jassin
Anyone looking for more information on those partnerships can check out the LaborX News channel. Some exciting partners have joined via our Rock Stars campaign.
And for 2024, what are the main goals for Chrono.Tech & LaborX? Do you have anything exciting to share?
Sergei
Indeed! We are going to have more partnerships and use cases for the platform, and we’re working on proper DeFi staking mechanisms and logic that will bring more utility to the TIME token. AI will play a major role in our immediate future. We’ll be using it to help with candidate matching, for a start. There are lots of things to look forward to!
Jassin
That sounds very exciting. Thanks for shedding some light on Chrono.Tech’s immediate plans!
Let’s move on to some community questions we’ve been collecting over the past few days. Firstly, let’s talk a little more about Chrono.Tech’s native token, TIME. How do you see TIME’s current value and its development, and what are the plans for TIME going forward?
Sergei
I feel like TIME is really undervalued. It has kind of slipped through the cracks of all the excitement about meme coins, layer one and two platforms, etc. I’m confident, though, that with our efforts and constant work, the true value of TIME will become apparent soon enough. We have built a real product and a platform that works, and we’re working on adding more utility. Once that kicks in, the price will speak for itself. I’m sure that will happen sooner rather than later.
Jassin
I’m trying to moderate the AMA in a neutral way but honestly I very much agree with that assessment. For anyone not familiar with Chrono.Tech’s existing products, check out Chrono.Tech/ecosystem and definitely our flagship platform, LaborX.com.
One of the most-asked questions by the community has been about exchange listings. What’s your take on this, and what is the current exchange listing strategy for TIME?
Sergei
No doubt everyone is hoping for a Binance listing. To get listed on Binance, we need a larger and more unified community. For example, if enough people start pinging the official Binance Twitter/X account to list TIME, it will be listed. Binance lists the tokens and projects that are trending; the way to make it trend is to talk about it more, post charts of its price movements, let people know what we are doing here, and so on. Binance cares about volumes and their own traders. That’s why it works the way it does and why that’s the surest way to get onto Binance – I have spoken to the Binance team about it :) We’re not considering other exchanges at the moment, since we’re really doing pretty well already.
Jassin
So this answers the ‘Wen Binance?’ questions we’ve had a bunch of times. TIME is currently trading on exchanges like Coinbase, KuCoin, ByBit, Bitget and Pancakeswap. You can find a full list on CoinMarketCap.
Sergei
Please share the use cases of LaborX with your communities and friends. There are plenty of opportunities. Lots of people can benefit from what we are doing here, they will not get ripped off for their work, they will find good freelancers, and people will have an opportunity to earn in crypto without government oversight, which in our world seems to be a bad thing.
Jassin
Paying people in crypto just works, and cuts down on waiting times, fees and trust issues for all parties involved.
Sergei
Decentralized escrow is pretty cool too. You can be sure that you will get paid for your services.
Jassin
Let’s move on to the next topic that the community has been asking about: TimeWarp.finance. How do you see the development of TimeWarp’s staking rewards? Can you give any insight into the revenue generation and distribution?
Sergei
We are working with accountants to make everything more transparent and open. The problem is when we work across jurisdictions, so the name is registered in one place, but the platform is decentralized. Governments in different countries have been approaching us and trying to claim that the revenues may be taxable in their jurisdiction. We don’t agree with that, as most of the time the relevant laws don’t even exist. We don’t want to give more ammo to the bureaucrats than we have to. That’s why, as I mentioned above, we are working on more decentralised and transparent staking.
Jassin
Thank you for that insight. I think that’s very reassuring to hear for some community members.
You’ve already touched on future developments, but let’s briefly talk about LaborX specifically. We’ve had questions about fiat payments, UI & UX updates, TimeX integration for swaps… what updates can we expect, and what is the general direction in which you see LaborX going over the next few years?
Sergei
We are integrating the ability to make fiat payments to candidates on LaborX. Unfortunately, TimeX is not our focus at the moment, and there are teams that are a lot better at running exchanges than we are, so TimeX will be kept as it is for now, and the focus will solely be on LaborX and the payment rails for it.
Jassin
Let’s maybe touch on the other products briefly. Are there any interesting developments to share about PaymentX and AUDT?
Sergei
The truth of the matter is that there’s nothing new coming for AUDT, as it has not gained significant traction. PaymentX is working well and we’re making small tweaks to it, but the focus is fully on LaborX, as it shows the most promise and it’s clear that it’s most needed.
Jassin
For anyone interested, you can check out those two products here:
- PaymentX.io: our crypto payroll solution that we use in-house
- Audt.to: our stablecoin, linked to the Australian dollar
And to round off this section, with regards to the TIME token swap from back in 2020, what is the status of the unswapped TIME tokens? If someone still has old TIME from the ICO, what are their options?
Sergei
Unfortunately, we will not be swapping old tokens any longer. There was a window of over two years to swap them, plus there were some instances of foul play in the swap. I’m pretty sure we discussed this before.
Jassin
Alright, this marks the end of our first section! Thank you for all the interesting insights.
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A series of open questions from the community followed the first section. You can find these in the Telegram channel.
Find out more about the Chrono.Tech ecosystem at https://Chrono.Tech.