Pay Contractors How You Want

April 12, 2022

With Starbucks accepting payments in Bitcoin and Paypal transitioning their platform to allow for buying, holding, and selling crypto, digital currencies are quickly becoming part of our daily transactions. Early employees at Coinbase who were getting paid in Bitcoin when it was at a low of $91 in 2013 have now seen their tokens’ value balloon to $42,319 in March 2022. Those in the market since crypto’s early days have experienced unprecedented returns, but it’s not too late to make crypto work for you.

More Options for Paying Your Contractors

For many up-and-coming Web3-native businesses, the future of compensation is in project-specific tokens. But maintaining flexibility matters when working with freelancers, and for companies straddling the Web3/Web2 line, the ability to issue payment in a wide variety of currencies remains crucial.

That’s why Rise allows you to pay your contractor in the compensation of your choosing—be it fiat currency, stablecoin, or DAO tokens.

Once received, contractors can decide to keep the given currency or exchange it for a different one offered on the Rise platform. And for DAOs paying contributors in their token, Rise functions as a streamlined payroll system with guaranteed compliance. It’s not just efficient. It’s the freedom of choice, available to all.

For Freelancers, Tokens are the New Equity

Everyone knows the value of getting in early at a growing company. Although salary and title are important, the real advantage lies in the equity and the promise of what going public could bring. When Coinbase went public it was valued at $86 billion with shares trading at a high of $429. For those equity-holding early employees, that day marked a life-changing moment. But what if you’re not a first hire at a company or even a full-time employee? What if you’re part of the ever-growing freelance economy?

DAOs and businesses that opt to pay freelancers with their token empower contractors to do more—not only investing their time into projects, but their money as well. All of which creates a balanced ecosystem between employers and employees. People are breaking out of the traditional job market at unprecedented rates because they want flexible hours and the ability to choose their projects. However, a downside to that increased freedom: sometimes sacrificing the wealth-potential that comes with equity.

But with the option to receive payment in tokens, that’s all changing. For employees, choosing to earn in a project-specific token can serve a similar function to receiving equity in a company. Welcome to the new, level playing field.

Unlock Passive Income Sources on Rise

Watching Bitcoin’s unprecedented leap in value from 2013 to now is proof: there’s real potential for real reward in crypto investments. While there’s no guarantee we’ll see such an extreme level of growth again, crypto and DeFi continue to offer high yields and new revenue streams that traditional financial services can’t match.

Rise’s forward-facing payroll model generates confidence for both employer and freelancer. And the option for project ownership through investment in its token engenders deeper meaning in the work. For businesses, that level of commitment from contractors ensures a solid foundation for growth. At Rise, we’re striving to make these innovative systems work for you. Book a demo today.

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