The First NFT Powered “Autonomous Agreement Protocol”
We started with a freelance project in early 2021. The main aim was to provide a trustless system for freelancers that can eliminate scams and tedious processes for them. Right now the freelance industry floor is taken by a few of the players and it’s highly unlikely they lose their position as it’s a game of trust, the elder you are the more people trust you. It was all true till we have to trust humans to pay us for our jobs, right now as we speak, a smart contract can easily eliminate such possibilities as it did with centralized exchanges, you don’t have to worry about withdrawal or deposit of your funds on a Dex now. So we can be very sure that if there is a possibility of a better freelance platform, it will come up only from blockchain space, which will not only revolutionize the way freelancers work but would also take care of the financial part of their users.
Looking closely to how a freelance platform, we can easily observe that it’s nothing but an agreement between two parties with a promise by the service provider for a quoted price in a fixed time period. This agreement just like a normal agreement requires an Escrow to reserve the funds for both the parties and an Arbitrator in case of disputes. If we can secure the entire process from creating an agreement to the requirements like Escrow and Arbitrator, this then can be used for various purposes and won’t be limited to a freelance platform.
A few of the examples of such agreements could be:
I will create a logo for $200 in 3 days.
I will promote your product on my youtube channel for $1000 a week.
I will be your Solidity developer for $10,000 / month.
I will sell my NFT through Bank Transfer for $500 in 30 minutes.
I will organize an AMA for you in my telegram channel for $200 a week.
All these Agreements have a promise for a price in time duration.
We Introduce you to a very flexible solution to such requirements, and the NFT power Autonomous Agreement Protocol. We are using this technology to power our freelance platform, it’s very simple and flexible. Create an Agreement using our platform, which is basically a transferable NFT, transfer it to a listing contract that guarantees your listing to our platform, or keep it to yourself for private Agreements. Clients can now place an order using this Agreement, assuming you have worked with us for a long and now wants to move to a newly built platform cause they deal with the niece you come from, you can just transfer your NFT to their listing contract, this will carry all your previous data and you don’t need to start from scratch now.
This also gives scope for entrepreneurs to tap into a section of finance, as the agreement can talk a lot about the user’s finance hence, lending and borrowing can come in handy with further exploration in this field. As the data is public and can not be manipulated this puts a strong pillar to a new infrastructure that can be built upon it.
Pentonium is a decentralized freelance platform aimed at creating a new structure for freelancing. Our motive is to eliminate the pain points of our users, clients as well as freelancers, enhancing privacy through P2P chat services facilitated by Skynet and IPFS for the storage layer. Pentonium also provides a community-based solution to create an automated dispute resolution layer around it.