Background:
The $CODE token is a Solana SPL token that is used to power the codenjobs jobs search platform. In this article, we will cover various aspects of this token, and if it is a good investment both in the short and long term.
Utility:
Code&Jobsis a decentralized application built for recruiters and job seekers who would like to find candidates and companies in a more web3-friendly way than traditional job search platforms like LinkedIn.
The website makes searching for jobs more convenient for Web3 enthusiasts by offering features like blogging, interacting with smart contracts, as well as allowing users to chat directly on the website. They also allow users to include GitHub and Discord to their profiles with OAUTH2 to give more credibility to who they claim to be.
Users in the platform can use their $CODE tokens to post job ads for a 5% discount compared to Solana, as well as benefit from exciting upcoming features. For example, swap their SPL tokens in the codenjobs DEX(decentralized exchange) and trade NFTs in a built-in NFT marketplace and use NFT at its website profile. They also plan to give additional discounts for their NFT holders.
Add to that, each user has his Solana wallet address displayed on his profile, allowing companies to directly send payments in Solana and code tokens to their candidates and receive tips if they like blog posts from a user.
If you are excited about the future of Web 3.0 and decentralization, you should be using Code&Jobs when looking for jobs or recruiting in the crypto space and beyond.
In fact, the platform is great for professionals who would like to interact with others in the space and are eager to learn new technologies such as Flutter for mobile app development, the Rust programming language, etc.
Team:
The platform was built by a team of developers. The dev team is committed to ensure that the platform runs efficiently and continues to grow. It will be a long term project and a lot of investment done programmatically. They hired a few developers and writers already and paid them correctly.
While they can make smart contracts for ETH variants and other blockchains such as Bitcoin, they chose to use Solana considering its high throughput and low fees and speed. They also like its various features that allow the programmers to help customize details of a smart contract and CLIs.
The devs are active on Discord and Telegram, answering any questions by users, updating them on the new features added to the project right away.
Feel free to reach them out if you have any questions regarding the project, or if there is a feature that you would like to see added to the platform.
Tokenomics:
Since the $CODE token is a Solana token, its transaction fees are very low, and it can be sent to and from a wallet or exchange within seconds.
In fact, the token is supported by all Solana wallets that support SLP tokens, like Phantom for example.
Here are the token's details:
Contract address : Code7hV6DaK5Werof8c7vPwBxLvhmEWVUbU2AfhBZArB
Symbol: CODE
Decimals: 6
The maximum total amount of CODE tokens : 10,000,000,000.00
The team behind the project promises in the whitepaper to burn an amount of the token supply when it gets listed on more DEXs, which will help increase its price.
Funding allocation:
The Code&Jobs team will use the funding they get from selling their token on exchanges for improving the website's features.
Here is a detailed overview of the funding allocations from the project's whitepaper:
- 50% of the funds will be spent to deliver a better user experience and adding new features to the platform.
- 10% will be spent on marketing and increasing the project's adoption.
- 10% for legal counseling and any other legal expenses.
- 5% will be allocated for investors and the project's community.
- 5% will be held for solving any emergency that might occur.
- 10% will be allocated for daily operations of the platform and its users.
Roadmap:
The project team is working according to this roadmap:
- Developing a smart contract for posting jobs in Q1, 2022. The dev team almost reached this milestone as the smart contract is already complete and was tested on the Solana devnet)
- Releasing the platform's decentralized exchange in Q2,2022
- Deploying the platform's NFT project in Q3,2022
- NFT marketplace to be released in Q4,2022. The platform is actively adding new NFT features, such as the ability to display NFTs on your profile.
Is the $CODE token a good investment?
With the token currently trading at 0.00000019 on the CODE-USDC pair, the token has a small marketcap and a huge potential for growth.
With the current conditions of the market and its bearish downtrend, buying any cryptocurrency as a short term investment will most likely result in losses. However, if you believe that this project will continue to grow and that Code&Jobs will be the platform that most Web3 and crypto industry recruiters and jobseekers use, this token would be a great investment in the long term
Holding the token would be especially beneficial for business and startup owners, as it allows them to post job ads for cheaper prices if the token's price increases.
How to buy the code token:
You can currently buy $CODE tokens on Radium using USDC and USDT on the Solana network.
I suggest using the Phantom wallet for purchasing the token since it is very user-friendly and easy to use.
Learn more about Code&Jobs by clicking the links below:
How does Code&Jobs compare to other job posting platforms
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