About LaborX Premium Accounts
Premium Accounts offer exclusive benefits for LaborX users. These are designed both to make the platform more attractive to Customers and Freelancers, and to drive value into the overall Chrono.tech ecosystem.
- Rebates on the platform fees charged to Freelancers, paid in TIME tokens
- TIME cashback bonuses for Customers
- Referral bonuses for introducing new users to LaborX
- Highlighting and priority placement in the search results for Customers and Freelancers, respectively
Premium Accounts operate on a tiered system, meaning anyone can join but the advantages increase for higher tier members:
How to access Premium status
The Premium programme can be accessed by locking TIME tokens in the TimeWarp smart contract. (Holding TIME in a LaborX wallet does not provide Premium status.)
To lock TIME in TimeWarp, visit Pools and select your preferred staking pool (Ethereum or Binance Smart Chain). Connect to the site using MetaMask and enter the amount of tokens you want to lock in the smart contract, as well as the length of time you want to lock them for, from one hour to two years. A reward multiple is applied, which increases for tokens locked for a longer period of time. This enables users to access higher Premium tiers without requiring more tokens. The table above shows the amount of TIME required to access each Premium tier (without taking into account the reward multiple).
Once tokens are locked, your Premium status will be updated, so long as you connect to LaborX using the same wallet you used to stake TIME in TimeWarp. Every week, you will receive reward payouts in TIME tokens, which you can either add to your stake to increase your Premium tier, or withdraw from TimeWarp.