Premium

About LaborX Premium Accounts

Premium Accounts offer exclusive benefits to LaborX users. These are designed to add more value to Customers and Freelancers, and ultimately the overall Chrono.tech ecosystem.

Benefits include:

  • 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:

N/A
BronzeBronze
SilverSilver
GoldGold
PlatinumPlatinum
Amount of TIME
0-10 TIME
10-30 TIME
30-60 TIME
60-100 TIME
>=100 TIME
Return of commission for finished Jobs/Gigs
5%
25%
50%
75%
100%
Referral Bonuses
50%
60%
70%
80%
90%
Visually Highlighted Provider
Priority Placement points
0
20
30
40
60
N/A
Amount of TIME
0-10 TIME
Return of commission for finished Jobs/Gigs
5%
Referral Bonuses
50%
Visually Highlighted Provider
Priority Placement points
0
BronzeBronze
Amount of TIME
10-30 TIME
Return of commission for finished Jobs/Gigs
25%
Referral Bonuses
60%
Visually Highlighted Provider
Priority Placement points
20
SilverSilver
Amount of TIME
30-60 TIME
Return of commission for finished Jobs/Gigs
50%
Referral Bonuses
70%
Visually Highlighted Provider
Priority Placement points
30
GoldGold
Amount of TIME
60-100 TIME
Return of commission for finished Jobs/Gigs
75%
Referral Bonuses
80%
Visually Highlighted Provider
Priority Placement points
40
PlatinumPlatinum
Amount of TIME
>=100 TIME
Return of commission for finished Jobs/Gigs
100%
Referral Bonuses
90%
Visually Highlighted Provider
Priority Placement points
60

How to access Premium status

The Premium program can be accessed by locking TIME tokens in the TimeWarp smart contract. (holding TIME in a LaborX wallet does not grant Premium status).

To lock TIME in TimeWarp, visit Pools and select your preferred staking pool (Ethereum or BNB 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.

premium user
Access Premium Rewards