Uwerx is a cryptocurrency project that creates a decentralized platform for freelancers using Web3 technologies. The goal of the project is to reduce fees and increase transparency compared to traditional platforms such as Upwork or Fiverr https://icorankings.com/icos/uwerx/
The platform runs on the Ethereum blockchain, which provides secure and transparent transactions without intermediaries. The WERX token, which is an ERC-20 token, is used to pay for services, participate in platform management and receive rewards for activity. Smart contracts automate the processes of concluding agreements, performing work and resolving disputes. Due to the decentralized nature of the platform, fees are significantly lower than in traditional services. After launch, it is planned to transfer the management of the platform to the community through the DAO mechanism.
However, the project had security problems: after the completion of the pre-sale of tokens, the platform was attacked via a flash loan, as a result of which about 176 ETH were stolen. The team responded quickly, working with security platforms and offering a reward for the return of some of the funds.