The $BlockBids token is our platform's native currency used for placing bids and securing contracts. Freelancers stake tokens when bidding on projects, ensuring serious commitments. Clients can also hold tokens to access premium features and reduce platform fees. All transactions are handled through smart contracts for transparency and security.

The $BlockBids token has a fixed supply with deflationary mechanics. A portion of each successful project fee is burned, reducing supply over time. Token holders receive platform benefits including reduced fees, priority matching, and governance rights in our DAO. Staking tokens also earns passive rewards from platform activity.

Our smart contracts automatically handle payment milestones and escrow. When a project starts, the client's payment is held in escrow. Funds are released automatically when predefined milestones are met and approved. This ensures fair payment for freelancers and project completion guarantees for clients.

Clients post jobs with detailed requirements and budget. Verified freelancers can place bids by staking $BlockBids tokens, demonstrating their commitment. Clients review bids, portfolios, and reputation scores before selecting a freelancer. Once selected, the smart contract is automatically created with agreed-upon terms.

Our platform includes a decentralized dispute resolution system. Selected community members with high reputation scores act as arbitrators. All evidence is reviewed on-chain, and decisions are executed automatically through smart contracts. Both parties can appeal decisions through our DAO governance system.

Freelancers undergo a thorough verification process including: technical assessments, blockchain challenges, and previous work verification. Their reputation score is calculated based on successful project completions, client ratings, and $BlockBids staking history. All verification data is stored on-chain for transparency.

All smart contract code is audited by reputable firms before deployment. We also maintain a bug bounty program and regular security assessments. For project deliverables, we provide automated code scanning tools and manual review services by senior developers.

Token holders enjoy reduced platform fees, priority project matching, voting rights in platform governance, and staking rewards. Higher token holdings unlock premium features like advanced project tools, dedicated support, and participation in our referral program.