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WRK

blockWRK uses WRK-powered smart contracts and the blockWRK app to allow employers to automatically reward workers in real-time as soon as daily goals have been achieved. Each month, companies are required to purchase a certain amount of WRK based on the total number of employees they have using the blockWRK app.

Employees earn WRK by using the app to complete daily fitness goals set by their employer and doing in-app daily safety checks to help avoid worksite safety violations. Each month the employer’s WRK pool is distributed to employees who can choose to hold their WRK as savings (earning HODL bonuses) or spend it using their blockWRK Visa debit card. Employees can also set a portion of their paycheck to be paid in WRK each pay period.

The blockWRK app also contains free mental health counseling and orthopedic injury telehealth services, as well as cash advances on their next paychecks with 0% APR (just a single low flat fee), helping employees avoid abusive overdraft fees and paycheck loans to cover unexpected expenses.

blockWRK distributes a maximum of 165 million WRK tokens each month from the distribution pool (which contains ~9.8 billion WRK) in order to manage the growth of the network and ensure a 5-year distribution timeline. Once all WRK tokens have been released from the blockWRK supply, employers will only be able to acquire WRK by accepting it as payment or by purchasing in the open market, creating a self-perpetuating fully decentralized system.

When all tokens have been released, employers will need to independently acquire WRK each month in order to perpetuate their use of the blockWRK platform. As businesses compete to purchase WRK, they are incentivized to buy and hold WRK on their balance sheets, and to accept WRK as payment for whatever goods and services they provide.