Convert Gitcoin GTC to The Employment Commons Work WORK

Gitcoin (GTC) is an Ethereum token that enables community governance of the Gitcoin platform. The platform is designed to fund and coordinate open source development by novel means such as quadratic funding. As of June 2021, Gitcoin has facilitated over $21 million in grants and bounties for open source developers.

The $WORK Rewards (“$WORK”) of the Employment Commons (the “Commons”) aligns economic incentives between Commons Members to support the future of the independent, self-sovereign worker. There are two types of Members in the Commons; Employee and Coalition. - Employee Members are independent workers actively co-employed through the ecosystem - Coalition Members provide new Member referrals, technology and/or services to the Commons - Initially, Employee Memberships are limited to those who are qualified to work in the United States - The Commons anticipates eventual global expansion - All U.S. and international persons, organizations, and DAOs are qualified to be Coalition Members The Commons economic model allows for Stakeholder Capitalism in a collectively owned, for-purpose (and profit) digital employment cooperative, as discussed in the Opolis Off-White Paper. $WORK is designed as a Cooperative Patronage Rewards token used as a means of incentivizing stakeholders to engage in certain patronage activities deemed valuable by the Commons. $WORK tokens are a unit of account to determine the amount of patronage profits a Member is entitled to if/when they are declared by the Commons. Functionally, the Commons offers Employee Members the ability to: - Reap the benefits of group purchasing power for reduced costs on products and services (e.g. group healthcare insurance, technology tools, and shared services) - Share in profits with other stakeholders based on patronage - Become an “owner” in a shared network that protects its Members’ best interests - Participate in the governance of the Commons Members earn $WORK for patronage in the Commons ecosystem via: - Using the Commons for the processing of payroll, employment benefits, and shared services as an Employee Member - Direct referrals of new Employee Members - Staking rewards by staking $WORK - The Commons Trustee, Opolis, Inc., as a team member, contributor, advisor, or shareholder