The gig economy is on a steady rise. Although not quite stable, it is a convenient source of income as users generate content and share it with the world. In this light, Red Pulse Phoenix opens a platform for contributors to add their content. Red Pulse Phoenix gives space to writers to develop their content and to earn from it. Contributors get rewards in the form of Red Pulse Phoenix tokens (PHX).
Initially, the Chinese-based platform only allowed native countrymen to contribute to the platform. However, a recent blog post indicates that the platform is now open to outside contributors. Further, the platform promises a doubled daily reward for early contributors. In particular, there is $5,000 USD worth of PHX that the platform will distribute to contributors daily.
Red Pulse Phoenix supports research, new articles, and even commentary primarily focused on the Chinese market.
“As a contributor, you can submit articles on China’s companies, industry sectors, or macroeconomy. The format of your article can be anything from opinion articles, commentary, analysis, news, or anything that you feel our readers would like to see,” the blog post reads in part.
Interestingly, submitted articles are only able to earn PHX depending on their quality. Further, the more the articles score in terms of engagement in the ecosystem, the more PHX they earn. Contributors will get a crypto-wallet upon joining the platform. The wallet will then store the earned PHX. In particular, the wallet will store the PHX in the staked token, PHF.
As Neo News Today reports, “The PHF token provides users with additional staking rewards, until the user ‘fires down’ the PHF to PHX and withdraws the token to an external wallet or exchange.”
The company further adds in the blog post that it will develop new ways through which contributors can earn revenue. Further, it plans to expand offerings and even cover more countries.
Increased Trades as Red Pulse Phoenix Opens Platform
Meanwhile, on Saturday, October 27th, the PHX token traded over 150% higher against the US dollar. Similarly, the token achieved a market capitalization of over $38M USD. This is the highest market cap so far. Also, crypto-exchanges are seeing a higher rate of trades in the token with the figures over the weekend seeing a 24-hour volume at roughly $180M USD on October 28th.
Therefore, as Red Pulse Phoenix opens its platform to more contributors, analysts predict that the trade volume will burgeon. Presently, the token is available on major exchanges including Coinrail, Switcheo Network, Binance, Bitbns and Kucoin.
Join our Telegram Group To Stay Up To Date With Crypto News