The Ledger
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Jackson: Braintrust will never conduct an ICO or sell tokens publicly
“Well, so, I mean, to be really clear, we'll never do an ICO, right? We're never going to sell tokens to the public. We, the only way you can get our token is to earn it, is to help us build the network, right?”
Jackson: BTRST cash price does not affect Braintrust network operations
“The cash value of the brain trust token is actually not relevant to the network, right? It's one token, one vote, the more tokens you have, the more influence you have over the network. So whether that token's worth 10 cents or a dollar is not actually that re…”
Jackson: Braintrust fee converter buys BTRST on open market with enterprise fees
“Last week, there was a community protocol upgrade where the community basically said, hey, that 10% fee collected from clients in cash needs to be paid in brain trust token. The community developed a new smart contract called the fee converter, which takes US …”
Jackson: Early Braintrust investors bought SAFTs converting below $1 per token
“These investors bought staffs, simple agreement, future tokens. Safes have conversion caps. Safes have conversion caps, right? And so there was a conversion cap in the staff. It's different levels for different staffs, but They were all, you know, somewhere be…”
Jackson: Braintrust has a fixed, dilution-proof 250M token supply cap
“It's locked into our smart contract that we have a fixed supply, two hundred fifty million tokens, which is interesting, right? Because you can never be diluted, right? It's dilution proof.”
Jackson: Braintrust allocates ~60% of tokens to users, under 15% to founders
“It'll be something like 60% plus or minus of those token that of the total token supply. We're giving them to the users through that referral engine. Mostly that I described earlier, the founders and I, we have it's sub, I think it's sub 15%.”
Jackson: Braintrust Charges No Off-Platform Hiring Penalties Due to User Ownership
“The reason we charge very low fees and no penalties for leaving is because we're actually owned by our users. So it's not just me and a couple investors, our users actually own the network. So we're fine if people get plucked off.”
Jackson: User-owned marketplaces could not exist without blockchain
“And that, that's why this is a new business model that couldn't have been done before blockchain tech.”
Jackson: Braintrust is raising new capital and is already profitable
“We, we're working on another round right now. We're just kicking it off where we'll raise from some more VCs not a ton of money, by the way, because the project's actually profitable already.”
Jackson: Braintrust founders received around 10% of token supply combined
“The founders got, it was, Probably around 10% combined.”
Jackson: Vast majority of Braintrust token earners have retained their tokens
“A lot of those, the vast majority of those folks have kept their tokens because they represent control, influence, voting power over the network.”
Jackson denies personal involvement in Braintrust's fee converter protocol upgrade
“Now I personally had nothing to do with that upgrade. You know, it was a community led thing”
Jackson: Braintrust targets multimillion-dollar enterprise projects over competing with Upwork
“We're not trying to disrupt Upwork or Fiverr. Those are sites where you get a logo or a website We're looking to build large, you know, and facilitate building large software platforms, big, big projects, multimillion dollar projects that could never touch a m…”
Jackson: Braintrust will not facilitate secondary trading of its token
“We, we're not an exchange. We're not going to facilitate buying and selling of our own token. It'll be on the exchanges to pick those up and create secondary liquidity if they so choose.”
Jackson: Braintrust pays 1% referral fees for clients and 0% for talent
“It's, you actually get no percentage for preferring talent. Cause we have a lot of talent. You get one percent referring clients”
Jackson: Braintrust charges 0% fees to talent and 10% to clients
“We charge a flat zero percent fee to the talent side, so talent can come in, set their market rate, and earn a hundred percent of that rate, and then a flat 10% fee to the clients.”
Jackson: Braintrust Protocol Purchases Tokens on Open Market for Referral Rewards
“The protocol will actually buy 10,000 dollars worth of Braintrust token on the open market, And send it to you in the form of token. Now, so then it, so it doesn't matter what the price of B trust is, right? If the market determines that, right? So you may get…”
Jackson: Braintrust raised $6M on an $83M token valuation cap
“Last year, in 2018, we raised six million dollars. It's on a convertible instrument, so it hasn't been priced yet... The cap is 33 cents per token, and so times two hundred fifty million, so about an eighty-three million dollar network cap.”
Jackson: Marketplace tokens are worthless without real users and GMV
“Tokens don't matter. If a marketplace doesn't have users in GMV, then it just doesn't matter, and it goes to zero.”
Jackson: Over 40,000 people have earned BTRST tokens building Braintrust
“We've had, you know, 40,000 plus folks earn tokens over the last couple of years in exchange for helping build the network. Invite talent, vet the talent, invite clients.”
Jackson: 65% of BTRST supply sits in treasury for contributors
“The other 65% is basically sitting in treasury waiting to be given out to further contributors.”
Jackson: Braintrust operates via seven core teams of 30-40 total employees
“There's no brain trust Inc behind it. There's now seven core teams. So little companies that kind of like spend a lot of energy and resources building brain trust. Those seven core teams probably have like 30, 35, 40 or so full-time employees.”
Jackson: Braintrust will reach 60 to 70 active clients by year-end 2020
“Today we're at about probably two dozen active transacting clients. It'll be 60, 70 by the end of the year.”
Jackson: All Braintrust engineers and designers are platform freelancers
“I'm the only I'm the only technical person. So I'm the chief architect of the token and the platform. All of our engineers and product managers and designers are freelancers on brain trust.”
Jackson: One Braintrust token will equal one network governance vote
“It's going to be useful in the future because one token equals one vote on our network.”
Jackson: Braintrust will reach ~$2M in GSV in 2020
“GSV is our main KPI. We will do something around two million bucks this year in 2020 of GSV.”
Jackson: Braintrust will launch with fixed cap of 250M tokens
“We're going to start with an initial, initial supply of two hundred fifty million tokens. We can never print it anymore.”
Jackson: Braintrust signed NASA as a platform client
“So if you're going to bring Nestle or Porsche or even NASA, we just signed a couple months ago.”
Jackson: Thousands of Contributors Are Earning Credits Converting to Braintrust Tokens
“We've, we actually have thousands of people working toward earning credits that will convert into our token, right? So we just keep track of them in a database. But these are people that are developers, designers, building the, you know, marketers, people maki…”