On July 3th 2021, our community had a chance to welcome Mr. Nikos and Mr. Justin – Co-Founder and Head of Community of ReBaked to join in an AMA to give fruitful information about the key features and roadmap of ReBaked – a platform enables independent knowledge workers to design, launch, and scale projects in the Ownership Economy.
This AMA was held by CryptoFamily Group – the top crypto community in Vietnam, where investors and traders can obtain the latest news and signals from bot/ admins, as well as discuss and share investment experiences in the crypto space.
At this AMA, two guests directly greeted the community and provided detailed information on ReBaked as well as some key products and future plans.
Time: 09:00 PM (UTC + 7) on Saturday, July 3th, 2021
Airdrop 200 USDT for the best questions in the AMA.
Below are some main points of this AMA:
Question for Part 1- Project overview
Question 1: 1. First, can you give us a brief introduction about your team and ReBaked? What is the decisive factor leading to the success of the project?
Nikos: Side-hustle 3.0 projects to take you from freelancer to founder
ReBaked’s value driven system of collaboration and governance allows anyone, anywhere, to effectively cooperate and build fast moving 3.0 infrastructure & products.
Rebaked is the future of work. Collaboration beats competition. An incentive aligned meritocratic DAO that allows anyone, anywhere, to demonstrate value into real, tangible, high-impact projects. reBaked takes a unique approach to crowdsourcing and open innovation. Unlike pure contest plays, the reBaked system allows collaborators to negotiate a guaranteed minimum payment in exchange for convertible tokens from promising Web 3.0 Projects.
We have a very strong team with experience both in startups, but also in demanding research projects for intergovernmental organisations such as the European Commission.
Justin: The decisive factor which will help us stand out from other launchpads is the extra utility we bring to projects than just allowing them to raise capital. While it has been easy for launchpads to raise funds fast, they have been having difficulty in building a community. This is where we come in by helping them avoid the extra hassle of trying to find the right talented individuals. We will create a ‘Reverse Launchpad’ where people can contribute with skills in exchange of allocation rather than depending on whitelists or lotteries.
Nikos: Myself I have worked for Harmony Protocol, involved with Open Web Collective at NEAR Protocol, and led the blockchain team of the second biggest European integrator. I am also deepening my blockchain research by being enrolled to academia at the University of Malta.
Question 2: Next, please let us know the vision of ReBaked and how it is progressing so far.
Nikos: Absolutely, reBaked has two directions – to help people with different skills to earn more from their skills, experience and talent, and at the same time help early stage projects deliver their product faster, and build closer to the community.
As @justinthornbug is usually summarising – reBaked is building an economy that everyone wins.
Justin: Our vision is turn communities into stakeholders, not just passive observers of project development. We aim to foster a new economic model for blockchain, one which will tether personal interest with project traction and strong community bonds. Afterall, investments in people are what truly pays off in the long term.
Nikos: Inspired by Gitcoin & Open Source movements, reBaked takes a unique approach to crowdsourcing and open innovation. Unlike pure contest plays, the reBaked system allows collaborators to negotiate a guaranteed minimum payment in exchange of convertible tokens from promising Web 3.0 Projects.
Once accepted into the project’s team, collaborators can earn additional bonuses for their work: the better the submission, the bigger the bonus.
The reBaked system allows Web 3.0 projects to get polished deliverables very quickly, because teams of specialists complete the work. This hyper-specialization allows collaborators to earn more and focus on their best skills. This is the way community projects to launch faster, and create stronger community bonds! Success of Yearn, SushiSwap and other Fair Launch projects verify our assumptions.
Also if someone wants to have a look in our pitch deck: https://docsend.com/view/ps5sbpuz99yd3j6f
On Monday we have a demo and shortly we will host our first main user onboarding
Question 3: What are the latest updates you can share with the community now? And your plan for future innovations?
Nikos: As part of the endeavour, the development team will extend a public call for talent to expand its skillset and accelerate work on the platform. In the beginning, the focus will be placed on three major roles, including Marketing Professionals and Influencers, Developers, and Project Managers.
Justin: While Nikos has mostly covered what is happening on the technical front, we have also been working to collaborate with tier-1 projects to partner with them and increase our product’s relevance by showing our community even the bests are backing us to revolutionize this space. A lot of partnerships will be unveiled in the coming weeks as we head closer to our launch.
Nikos: In terms of development we are about to launch our DAO and give the opportunity to the community to take important decisions, subscribe as observers ( similar to Proof of Stake), and also start onboarding projects and collaborators.
Also this week a new partnership announcement will pop-up with the first project that will use the reBaked platform
Questions for Part 2 – Pre-collected questions from Twitter:
Question 1: I see there are 3 problems that you are dealing with right now: which are cooperation over the competition, Raise fair launch capital and Turn anyone into a stake holder. What problem are you most concerned about and focusing on solving right now to create value for the community? @Wellrickv
Nikos: This is a really challenging question. I believe reBaked is the answer to those challenges for new blockchain projects with a token model: build and launch as close to the community( fair launch), maintain a decentralised and active community which will contribute to build and deliver projects faster, and finally create a culture of cooperation and reward for top performers- rather than exhausting competition.
I have also shared the key principles that we are use to architecture and engineer the reBaked ecosystem.
Justin: Us at reBaked understand that people like it when their benefits are being actively supported. For our contributors, we want to focus our resources towards building a reverse launchpad model where their contributions are rewarded with an allocation. So basically our main focus in on providing more value to people and show that even now their skills are being valued and are being awarded fairly based on their contribution rather than depending on luck. We want to make our platform the future of work.
Nikos: On the other side for projects we want to help them find the right individuals to help them build faster and more efficiently.
Question 2: Adoption among average users beyond investment purposes has been slower than one would want, and few people understand the underlying architecture that makes Web 3.0 so useful. Could you give detailed narrative of how the Web 3.0 economy works and Rebaked crowdfunding solutions? @Greyhair_08
Nikos: While we have successful examples such as the participation across different hackathons, but also in terms of development activity in competitor projects such as Gitcoin, indeed we agree that participation is slower outside of the investment scope.
Cryptocurrencies unlock a new economic model for networks that are built, operated, and owned by their users. This is being defined as the Ownership Economy for outsourced workers. It enables ownership or a financial stake to the participants of a project. It is upon this philosophy that ReBaked is built, revolutionizing the concept of work from how we know it to giving freelancers a stake in the project.
We have also written an extended guide – how we envision the Ownership Economy: https://link.medium.com/RROAVJwRAhb
In short, we introduce a radical concept:
- Community is co-building projects
- Owns them via governance
- Earning fees collected by the projects
Question 3: Do you have an active referral or ambassador program for users that can attract a new community? What are the ways that generates income/revenue to maintain your project and what is its revenue model? Also how can it generate win-win benefits to both investors and your team ? @Aravind75154890
Nikos: This is a great timing – our ambassador project and community initiatives will be announced early next week, so make sure to subscribe in our Announcement channel to be among the first to join @rebakedann
Justin: As Nikos said, we are going to soon launch a program that will heavily award participants who will will help spread our vision. As we are a project who aim to reward people who contribute towards growth of any project of their choice, this is a small start of what we aim to build.
But the biggest opportunity is that through the reBaked platform our community members can discover early promising projects, contribute to their development with their skills and earn rewards.
Question 4: Please explain on the mechanisms are your platform using to guarantee the fair launch. Why do you think the Dao infrastructure has the right infrastructure for this kind of project? How do you plan to solve certain limitations of Daos right now? @MeagerOphelia
Nikos: Fair launch projects dominate in terms of growth dynamics – understandable, considering that all members of the community have a stake in such projects 📈
The system of ICOs followed IEOs and then IDOs was flawed from the very beginning because its core concept revolves around the idea of profiteering and speculation. The preferences given to the investors with the highest resources to allocate to projects were unfair, as multiple early investor rounds, discounts, seed rounds and other specialized events resulted in an artificial decrease in available project tokens.
The fair launch approach was proposed as a counter to the flawed systems of the past and as a means of returning fairness to the blockchain economy. By relying on the simultaneous release of all project tokens to the community without any preferential seed or presale rounds for early investors, the fair launch token distribution method allows ensuring a fair price on all project assets and even entry thresholds for all market participant.
Rebaked is all about encouraging the development of individual potential and abandoning the concept of the richest getting the tastiest morsels of innovation. Rebaked is based entirely on an economic model that tethers the value of project tokens to their eventual value as assets that represent a product’s or service’s demand on the market. The investors of projects launching on Rebaked can always be sure that they are engaging in long-term commitments that will be rewarded in accordance with their contributions and the results generated by the professionals creating innovations. The professionals themselves will also become stakeholders in full, as their efforts will be monetized indirect proportionality.
Justin: Like Nikos mentioned the shortcomings of current processes, we want to focus on rewarding contributors who believe in the vision of the project’s team members rather than just participating to profiteering off it.
Rebaked gives back to blockchain what ICOs have taken away — the dignity of community governance that gives every member and stakeholder of a project an equal say in its development through voting mechanisms. The professionals involved in the Rebaked launchpad will be able to access vast networks of connections and like-minded individuals via convenient communication channels, allowing them to attract new members to their cause and monetize project development together. Regarding DAOs- we are excited to reveal that we are currently engineering our token contract that will be used for the creation of DAOs, and we are confident that is solving many of the current scalability and limitation challenges that DAOs are facing today
Question 5: Could you explain to me the burning process within the #reBaked smart contract as it presents a very interesting function. How this process benefits the project’s ecosystem? Is it possible to do some type of tokens burn manually? @Truong38498211
Nikos: Absolutely – as a part of $BAKED token’s value proposition, tokens which are protocol fees are burned. The burned tokens are approximately 50% of the collected fees, and the rest are distributed to our DAO governance.
The process is currently Manual, but in the near term we are planning to build smart contracts to make it fully automatic.
PART 3: BEST LIVE QUESTIONS CRYPTOFAMILY GROUP
Question 1: Can you list 1-3 killer features of Your Project that makes it ahead of its competitors? What is the competitive advantage your platform has that you feel most confident about?
Nikos: Absolutely, a couple of our competitors are Gitcoin, BrainTrust, Upwork and many more freelancing platforms.
We have explained earlier how we are different with most freelancing platforms and help projects deliver faster. Let’s explain here our key differences with Gitcoin
- we are skill agnostic we don’t focus only on development tasks – even though this is our strong priority. From our experience participating in hackathons diverse teams deliver better.
- we are also supporting projects to engage with community and use skills even before launching a token ( maybe the time that they need us the most) which Gitcoin is limited to those that they have already a token or can afford to pay in $ – that’s how we also identify great opportunities for our community to join projects early
- we don’t charge fees to collaborators – you keep 100% of your rewards in comparison to other platforms
- the most important of all – our operation is totally decentralised. Gitcoin and other hackathons platform the project owners decide the rewards. This usually creates a tension between teams/ collaborators and sponsor projects. In reBaked ecosystem everyone keeps a guaranteed minimum payment and competes for the bonus. Bonus is calculated via our peer evaluation algorithm that collaborators assign to each other.
Question 2: I care about incentivization, what incentives are in the ReBaked ecosystem for users and ecosystem providers,so Why should I use ReBaked? Let me know more about you.
Nikos: Absolutely – blockchain projects should care and offer community incentives since protocols are community owned. Through reBaked you will have the chance to work in a flexible manner for projects and earn rewards for your contribution. Differently than traditional freelancing work, you can earn allocation and use the tokens you have accumulated to different projects to earn long term passive income.
Question 3: Too many projects promise magic but never release any working product or prove any revenue, Within a short/long time of release. Is your project also like this? If not can u tell us, What makes your project different from other projects?
Nikos: Right we are very sensitive regarding our promises, capabilities and potential to deliver to the community. We expand on deliverables in our roadmap. As you can see is short term scheduled given the fact that the feedback gathered will be a lighthouse for the next development cycle. More important is that the community will be actively engaged into deciding and voting for the new roadmap when the time will come. https://coin5s.com/story/revealing-rebaked-roadmap%E2%80%A6
Question 4: The market is falling, what do you think is interesting to attract investors to hold the token?
Nikos: Indeed market conditions are fluctuating – market is going up and down. Holding BAKED tokens gives you a recurring source of tokens by projects launching through our protocol by staking your tokens. We believe that as long the community will engage and be involved, the short term market conditions will be not not crucial. Focus on building 💎🚀
Question 5: What is your top 3 things for priorities in 2021? Could you share some plans for the upcoming year?
Nikos: -Onboard at least 10 Projects to launch via reBake by the end of the year
– reach 10k contributors / collaborators
– launch successfully our platforms
For all of the questions that have not been answered yet, guys feel free to search for more information or ask directly to them on the links provided below: