At Metalents, we use a business model that is (1) inspired by traditional marketplaces and (2) improved using our native token $AUCTION.
Metalents charges a 5% transaction fee of the total cost of the freelance job. This is the traditional part of our business model, just like eBay or other marketplaces.
However, the added benefit of our native token is that Metalents users who own $AUCTION and participate in the Metalents network can lower their effective take rate below 5%. This is the exciting part.
The platform fee of 5% will be distributed as staking rewards to all holders of $AUCTION who have staked their tokens. This means that any freelancer who owns & stakes $AUCTION token will receive some of the transaction fee back in the form of staking rewards. We believe that tokens should be used to reward the network participants the most. After all, Web3 is about internet ownership. So, the effective take rate for stakers who participate as buyers or sellers will be less than 5%!
In-app services also must be purchased using $AUCTION that will promptly be burned. This serves as another deflationary force on $AUCTION to drive further value to the Metalents users who stake $AUCTION.
We are so excited to grow together and continue to improve our business model to most favor the users who own & participate on Metalents.