Blockchain adtech company CakeCodes today announced a token generation event for its ERC-20 utility token STORM, which is to be the token for StorMarket, CakeCodes’ decentralized global micro-job marketplace. The event runs from Aug. 15 – Sept. 14 and has a threshold range of $5 million-$50 million.
The sale is described as a “revolutionary hybrid crowdsale mechanism”, where $40 million is available to participants via an Ethereum smart contract and the remaining $10 million obtainable through Bittrex.
“Following the tremendous and continued international success of CakeCodes’ first project BitMaker, we are excited to combine our expertise in mobile, digital advertising, and blockchain to create StorMarket, a frictionless, decentralized, inclusive, and global ecosystem for micro-task listings,” CakeCodes CEO Simon Yu said. “As the utility token for StorMarket, STORM will revolutionize the peer-to-peer job market by providing democratic access to resources and contracts via a user-friendly mobile application.”
StorMarket is a true peer-to-peer vehicle, Mr. Yu explained.
“StorMarket lets users rate and review each other based on ease of collaboration, quality of work produced, and the overall experience at the time of contract completion. This means companies can gain insight into the skill levels of potential contractors and the highest-performing individuals are duly rewarded.”
StorMarket allows anyone to request various technology services and select a worker. Workers earn STORM utility tokens, which are automatically distributed via an Ethereum smart contract, when they successfully complete designated contracts.
“By eliminating layers of intermediaries, StorMarket will help to reduce operational inefficiencies, unnecessary administrative tasks, and costs of job listings for companies, while promoting equal opportunities for anyone to bid for jobs from anywhere in the world,” Mr. Yu added. “This kind of democratization has never been seen before and will open up the market to international collaboration with experts in unprecedented ways.”
StorMarket users can also earn STORM utility tokens by testing apps and discovering bugs in products and services. STORM will also be integrated into CakeCodes’ BitMaker app.
Bitter founder and CEO Bill Shihara and Unbank Ventures founder Brett Noyes joined CakeCodes advisory board to assist with the project.
CakeCodes provided brief biographies of their advisory board members.
Bill Shihara co-founded Bittrex, one of the world’s most important digital currency exchange supporting over 191 active different cryptocurrencies, in 2014. Mr. Shihara has 15 years’ experience in leading cybersecurity and security architecture roles at Amazon, Microsoft, and Blackberry.
Marketing and business development expert Brett Noyes is Founder of Unbank Ventures, a consulting and strategy group devoted to providing early stage fintech companies with vital resources, including introductions to capital, corporate partnerships, strategic planning, and talent.
Transbiotech CEO Ivan Braiker, an illustrious leader in the mobile adtech space with more than 30 years’ experience, has successfully founded and led three companies through Initial Public Offerings (IPO).
Symmetry Consulting Inc. President and Principal Jon Nolz is a mobile advertising, marketing and data analytics executive with leadership experience spanning more than 17 years across a variety of industries.
CEO of Kooapps Chun-Kai Wang is a notable executive in the mobile gaming industry. Mr. Wang, an expert in designing mobile products and scaling server infrastructure, has successfully released several mobile games and currently lectures on server-side programming at the University of Washington.