As you may already know, the WorkQuest platform uses 2 tokens: Work USD (WUSD) stablecoin and WorkQuest Token (WQT) management token.
The WorkQuest Token ($WQT)
The WQT Holders are the top management layer for decision-making in the DAO. It is they who manage the system and participate in its development, but they also incur losses if the decisions made are unsuccessful.
Anyone with at least 100 WQT or delegated WQT can suggest measures to improve the WorkQuest ecosystem. These might be simple or complex sets of actions, such as adding new platform features, improving the business model, adding additional ways of using an asset, changing the market model, or in fact changing any other parameter. The more amount (WQT) a user uses in the voting process, the more, in percentage terms, they will be able to influence decision making in the WorkQuest DAO.
Each WQT holder has the right to vote on the existing proposals, as well as the ability to create a new proposal. The proposal with the largest number of votes automatically receives the status of ‘important’, thereby influencing further development of the project.
Work USD Token ($WUSD)
Work USD (WUSD) is a Crypto-Collateralized Stablecoin, which means that it is backed by another cryptocurrency. Backed by Work Quest Token ($WQT), Work USD (WUSD) is pegged against the U.S. dollar and allows for using a basket of crypto-assets as a reserve.
WUSD is used to pay for work in the WorkQuest platform when creating a smart contract between an employer and a worker. It can be used to exchange for another cryptocurrency or withdraw to a bank card in the WorkQuest platform.
The Advantages of WUSD use include:
International trade — low transaction costs.
Simplification of taxation.
Transparent accounting systems — fully verifiable WUSD transactions enable organizations to improve efficiency and reduce the likelihood of corruption.
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