Article Summary, Automatically Generated By AI
About Connex
- Project goal: Enable young individuals to become Web3 experts without decades-long career progression.
- Unique feature: Permissionless, open, and collaborative Web3 professional network.
-
CONX token:
- Functions as governance token, incentivizes user participation, and serves as primary payment token.
- Rewards high integrity and proof of fraud.
- Used for rewarding users who upload high-quality CVs, get most viewed and liked, and create circles.
-
Token use cases:
- Pay for Subscription: Companies/SMEs subscribe to view and like CVs.
- Pay for
About Connex: Empowering Seamless Connections
What is the project about? Web3 empowers young individuals, regardless of their professional standing, to become experts in this burgeoning field without having to navigate a decades-long career ladder to make a meaningful impact in a company or specific field of work. The brightest minds globally are migrating to Web3, departing from FANG companies, and joining crypto organizations or decentralized autonomous organizations (DAOs).
What sets your project apart? Connex is poised to establish a permissionless, open, and collaborative Web3 professional network. The CONX token is a vital component of this infrastructure, serving as the governance token, incentivizing user participation, and functioning as the primary payment token within the Connex ecosystem. Designed to promote high integrity and proof of fraud, Connex rewards users with CONX tokens. These tokens are used to incentivize users who upload high-quality CVs, garner the most views and likes, or create circles on Connex, sharing valuable insights on circle topics. The amount of CONX tokens rewarded is determined through the platform’s voting and governance feature, fostering a community-driven approach.
What can your token be used for? Pay for Subscription: CONX tokens can be utilized to subscribe to a company or SME in the talent recruitment and hiring sphere, granting access to view and endorse CVs uploaded by users on Connex. Pay for Credential: CONX tokens facilitate the viewing of personal on-chain and off-chain credentials of users, enabling companies and SMEs to identify candidates more efficiently and accurately with the platform’s on-chain and off-chain labels. Pay for Circle: CONX tokens are used to enter a professional circle, where users can share valuable insights on Circle topics and receive CONX tokens as rewards, with the amount determined by tokenholders through the voting and governance feature of the Platform. Pay for Exposure: CONX tokens enhance the visibility of a company or individual, allowing companies or SMEs to utilize their subscription for marketing and branding purposes, such as increasing exposure to users and building their brands by providing details of their companies, products, and services, vision and mission statements, job vacancy descriptions, and reasons for joining their companies. Governance: CONX tokens are used for voting and governance in Connex DAO, encompassing voting on fees for users, companies, and SMEs to utilize the platform, subscription fees for creating and entering the Circle, token usage in the Community Treasure, and the accuracy of a job or CV. Integrity Assessment: CONX tokens can be staked against any job or credential on the platform to ensure and vouch for the credibility of the job or CVs for an exposure period. If the credibility of the job or CV remains unchallenged, the tokenholder who staked the CONX tokens will be rewarded with additional CONX tokens. Conversely, if the credibility of the job or CV is challenged and the information is proven inaccurate, the staked token will be burnt. The determination of accuracy is conducted on-chain through the voting and governance feature of the Platform. While plans are underway to reward successful challengers of such job or CVs, earning CONX tokens for their participation, this feature is currently in development. For the avoidance of doubt, CONX tokens do not confer upon tokenholders any right to rewards solely by virtue of their holding, but rather grant the right to vouch for the credibility of a specific job or credentials on the platform upon staking of the CONX tokens, which, in turn, grants the right to rewards based on the exercise of voting rights and participation in platform governance by tokenholders after their staking of the CONX tokens. Community Treasure: 20% of the total token supply will be allocated to the Community Treasure, intended to reward users who drive the platform’s growth and adoption. For instance, users will be rewarded when they refer friends capable and willing to work in the Web3 industry to use the platform. Users suggesting new platform features to boost usage and smoothen the integration between the platform and other major talent hiring sites will also be rewarded. The amount of CONX tokens rewarded or the decision to adopt new platform features will be determined by tokenholders through the voting and governance feature of the platform.