Intro to the Gig Pool
We seek to provide instant capital to the creative, young and on-demand freelancers of tomorrow because we know that the future of financial freedom is being led by today’s gig workers.
We, the END_Bridge team, are happy to announce our very first pool on Tinlake: the Gig Pool. The future of work is changing but gig economy workers are here to stay - and thrive.
The Gig Pool finances on-demand payment advances to society’s workers: freelance artists, musicians, photographers, influencers, drivers, writers and other creators in this burgeoning economy.
Overview of the Gig Economy
Have you ever ordered tacos from Doordash, taken a ride from the airport with Uber, or listened to a new artist on Spotify? If yes, then you have participated in the ever-growing gig economy.
By participating in the Gig Pool, you are helping nearly 100 million young creators in the US work for their financial independence.
Source
Gig workers are expected to grow to nearly 10 percent of the entire freelancer population by 2023.
According to a Mastercard study, the total number of gig workers is projected to grow to 78M and wage disbursements are expected to grow to a total of $298B by 2023.
The typical supply chain structure of the gig economy involves infrequent payout schedules which add financial stress to the individuals supporting our global economy. Real-time financial payouts are a major necessity to this new financial system and can solve a major problem of gig economy workers by giving workers’ peace of mind over their financial well-being.
Pool Summary
The Gig Pool helps gig economy workers get paid for their services on demand and provides financing for payment advances to freelancers, influencers, artists and other creative gig economy workers. The Gig Pool supports gig workers from Uber, Lyft, Instacart, Doordash, Upwork, Postmates, Shipt, Amazon Flex, YouTube, Instagram, TikTok, Apple, and Spotify and it will continue to expand to additional partners. The Gig Pool portfolio consists of payment advances with a typical maturity of 30-90 days.
Source
Participating Asset Originators
Paperchain supports the world’s largest media streaming platforms and offers creators a stable and consistent funding source via the intersection of media, finance and technology.
This asset originator’s innovative use of media data streams and investment products provides an easy and fast way for artists and media companies to access their well-earned revenue.
The music industry has some of the largest invoices in the gig economy - and also the slowest payout terms. Paperchain accelerates streaming revenue payments from music labels and distributors by up to 90 days faster than usual.
Willa’s mission is to give the hundreds of thousands of influencers control over their gig revenue stream so they can get back to fulfilling their passion and living the life they deserve.
This early-stage fintech startup understands the administrative pains of finances and seeks to free gig workers from worrying about chasing unpaid invoices.
Moves empowers gig economy workers by bringing the social finance movement to the forefront of their career.
Independent gig economy workers are often overlooked or ineligible for products offered by traditional financial institutions due to their unstable income. Moves motivates the gig economy drivers and the sharing economy platforms through instant, financial gratification.
How It Works
The Gig Pool offers investors tokens corresponding to the assets owed and locked in Tinlake as NFTs. The Gig Pool issues two tranches of ERC-20 tokens: DROP Tokens and TIN Tokens. The TIN Tokens are purchased by the Asset Originators and the Issuer to demonstrate their confidence in the asset pool and to act as a buffer against losses to investors in the DROP Tokens. The DROP Tokens are available to investors.
On one side, investors put DAI into the pool and take DROP and TIN tokens out. On the other side, asset originators put NFTs in and take DAI out. Once the asset originators repay the DAI (with interest), the DAI can be redeemed by the DROP and TIN token holders.
The borrower (the Gig Pool) creates NFTs of their asset originator invoices and drops them into Tinlake, pooling together hundreds of NFTs. The Gig Pool also creates and issues DROP and TIN tokens, which are backed by the assets in the pool. The senior investors invest in the DROP tokens and junior investors invest in the TIN tokens. Once the DAI is added to the pool, the Gig Pool borrows the Dai from Tinlake against their NFT asset collateral. The Gig Pool uses these funds to finance additional invoices.
END_Bridge LLC, a Delaware limited liability company, is the sponsor (owner) of END_Bridge LLC - GIG Pool (the “Gig Pool”), also a Delaware limited liability company. The Gig Pool has signed a Tinlake Protocol Services Agreement with Centrifuge, which licenses the Centrifuge software in order to utilize the Tinlake protocol and Centrifuge Chain to create and issue the NFTs, DROP and TIN tokens. The Gig Pool also has signed a Securitize sub-license agreement, in order to screen potential investors for KYC, AML and accreditation. Investors start the investment process at tinlake.centriuge.io and go through an automated on-boarding process.
Risk Considerations
For more information on how we sized up the Gig Pool, please click here.
| Risk | Variable | Consideration |
|---|---|---|
| Launch Date: | July 2021 | Young pool, early-stage risk |
| Pool Size: | $500k | Small sized pool, early-stage risk |
| Yield: | 4.5% | Mid-single digit yield, should expand to 8%+ |
| Liquidity: | 30-90 days | Quick payout, positive for liquidity |
| Experience: | 20 years+ | Highly experienced |
| Protection: | 20% | Highly secure and low risk |
| Execution: | 66% | Building a cash balance to deploy |
| Concentration: | 1 | Has only funded 2 assets so far, early stage |
| CFG Rewards: | ~30.5% | Attractive rewards from Centrifuge |
| | ||
| Please read our entire risk section in our subscription agreement for a detailed review of risks related to investing in this pool. You can access our subscription agreement once you begin the investment process on Tinlake. |
Call to Action
- Share your thoughts publicly, add comments/questions below
- Do you have private questions? Get in touch with us at investors@end-bridge.com
- Go to tinlake.centrifuge.io to invest in the Gig Pool
Additional Docs
Websites
Articles
- Paperchain - World’s First, Real-Time Advance of $60k USD in Spotify Revenue using DeFi
- Paperchain - Paperchain CEO Daniel Dewar on how the payment platform is supporting self-releasing artists
- Willa - Willa Raises $18 Million for Freelance Fintech Platform
- Moves - Gig labour market needs policy reform
Pitch Deck
Get in touch:
jason@end-bridge.com
Twitter: @thedoctor_j