Throughout the bear market and 2023 to date, the Chrono.tech team has been building, refining and adding to the functionality of our LaborX and TimeX platforms, whilst establishing major partnerships in the Web3 space. Here are some of our biggest developments and headlines from the past six months.
One of our biggest and most exciting stories was a significant investment in Chrono.tech by DWF Labs.
DWF Labs is a global digital asset market maker and multi-stage Web3 investment firm, consistently ranking amongst the Top 5 Organisations for Cryptocurrency Trading Volume. The organisation supports portfolio companies with token listings and market making, while providing OTC trading solutions.
DWF’s acquisition of a seven-figure tranche of TIME tokens will continue to fuel accelerated development of LaborX, so that we may continue to revolutionize the online employment and HR sectors.
Our second major partnership lies at the cutting edge of technological development.
SingularityNET is one of the largest and best-known AI blockchain platforms in the world, run by a seasoned team of experts. LaborX’s integration of SingularityNET’s technology helps to solve one of the most important pinch points that our research has uncovered. We found that on any given platform, dozens of freelancers could apply for a single job posting, placing a significant burden on employers to filter through applications.
Using SingularityNET’s AI algorithms will enable us, and our community, to streamline the process of selecting high-quality talent for any job they require – reducing the time it takes to find the right freelancer, whilst maximizing compatibility.
Alongside these unions, LaborX’s upward trend of user growth has only continued. Our platform now boasts over 100,000 registered users, with almost 30,000 fixed-price Gigs listed by freelancers!
TimeWarp, the native staking platform of the Chrono.tech ecosystem, is coming up to its two-year anniversary. This programme, which allows TIME holders to lock their tokens to earn a share of the revenues generated by the different services within the Chrono.tech ecosystem, has proven to be a great success.
Any users who choose to continue to stake their tokens after the two year unlock will continue to receive their rewards at the same rate, however with the added bonus of not having to lock their tokens in for any extended period of time.
TIME tokens have been consistently used to obtain premium services, and are distributed as rewards by both TimeX and LaborX, placing them in high constant demand. At present, over 325,000 TIME (46% of total supply) have been staked within TimeWarp, across three different blockchains. Currently, between $20,000 and $25,000 worth of tokens are distributed to stakers every week – totalling over $3.5 million since inception!
Personally Tailored User Experience
Our approach to improving the experience of our users on LaborX will be threefold:
1. We will be implementing A/B testing throughout our user experience to better understand the needs and desires of our community. This will allow us to finish our redesign in accordance with the preference of the majority, thus increasing the adoption rate of our platform as a whole.
2. Building on our statistical testing, we are currently in the process of developing our own analytical system to increase the overall completion of job listings. This will be achieved by testing and improving our search engine for both talent and clients, when looking for Jobs and Gigs, respectively.
3. To cap off our user-based improvements, we will be launching an all new ‘Recruitment’ feature to round out the services we offer across the HR industry. This new feature will involve personally partnering you with specialized recruiters to help fill key roles within your team. By navigating the employment process with an expert on your side, we’ll help you remove the guesswork by providing you with a pre-vetted shortlist of qualified candidates who are sure to make the perfect fit for what you’re looking for.
As an already well-established platform, we have identified the need to spread the word about the services we offer in order to grow. The chief aim of our marketing throughout the remainder of 2023 will focus on increasing our number of users on LaborX, particularly on the client/employer side of the equation. By increasing the number of employers and job listings on our platform, we will in turn increase the ratio and quality of talented freelancers flocking to fill any available positions posted on our platform.
This will be carried out by restructuring our team to roll out new advertising campaigns across Google, Twitter, LinkedIn, Facebook, & Telegram, ultimately to increase our exposure throughout the Web3 ecosystem.
We’re extremely excited to lead the charge in the HR industry with the ongoing surge of AI technology.
Through our partnership with SingularityNET, we will remain at the forefront of technical innovation, affording us the opportunity to add industry-first features to the LaborX platform as new technologies and tools are developed.
One of the pivotal functionalities we are actively working on is a system that prevents fraudulent adverts from being included in online jobs boards, removing and banning bad actors before they ever become a problem. Web3 thrives on the principles of openness and decentralisation, and we want to ensure this ethos can proliferate in a safe and secure environment for our users.
Up until now, removing scam listings has largely been a manual process throughout the HR industry. Using AI however, will significantly speed up this process, making LaborX the go to platform for legitimate users.
Taking this one step further, by allowing AI to analyze behaviors, experience, budgets and previous connections, we aim to provide the most personal and effective user experience for both talent and employers throughout the industry. From streamlined your listing creation, to efficient and effective matchmaking, Chrono.tech is going all in on leading the charge in the employment sector through AI, to revolutionize the HR industry throughout the world!
We look forward to updating you as we progress through each milestone and new innovation. Reach out and let us know if there are further features you’d like to see by dropping us a line on Twitter or Telegram.