Braintrust: Token Economics

The BTRST token has just launched on the Ethereum mainnet. That means thousands of you, the talent, are now official community owners and govern the Braintrust network. You’re able to use your tokens to vote on key decisions and to control the future of the platform you make your living on.

What can the BTRUST token be used for?  -Governance. This is the most important. Governance has financial value here because it might mean the difference between paying higher fees or not, or even keeping the network alive or not. At some point, if the token value drops and the network is more reliant on fees, participants may decide it’s actu... See more

-Bid Staking. Clients and Talent can stake BTRST to stand out to the other party and prove that they’re serious; if an applicant no-shows an interview, for example, they lose their tokens. This is the web3 replacement for the advertising models that web2 marketplaces graduate to. -Career Benefits. This one is a little hand-wavey for now, but the Br... See more

Braintrust only charges the companies doing the hiring — freelancers won’t have to pay to join or to bid on a project, and Braintrust won’t charge a fee on their project payments. In addition, the startup is using a cryptocurrency token that it calls Btrust to reward users who build the network, for example by inviting new customers or vetting free... See more

Braintrust pays for everything the network needs through the money it’s raised, the 10% fee Clients pay, and BTRST tokens from the treasury.

Each token represents one vote, so users who earn more — by participating in community building activities, successfully completing projects, screening talent to join the network, and taking courses on Braintrust Academy — will, deservedly, have greater say on how the network develops.

The simple idea behind Braintrust is that it is a talent network that charges Clients an industry-low 10% fee and actually pays Talent a negative take rate by rewarding them with tokens, and that the only way for those things to change is for the users who would be impacted to vote to change them.