Enkidu is a project by Avalon Labs that helps very small businesses, or groups of skilled people who wish to begin functioning as a business for mutual benefit, collaborate with local markets worldwide. It’s a legal-tech solution built with the support of multiple law firms across the world. Enkidu provides clients with contracts that handle almost every legal situation a small business may have to encounter. Contracts cover adding new members, changing profit sharing structures, dividend policy, or raising money.
Built specifically for small businesses, or groups of less than five people, Enkidu enables them to sell their products or services online without having to create a company or deal with legal and financial overheads. For example, if a group of four graphic designers would like to link up in order to have privileges or benefits, they can do so without creating a company through Enkidu’s contracts.
Because of the app’s limitations, Enkidu is not a good choice for larger companies looking to enter joint ventures. However, due to there being more small businesses than larger enterprises in the world, Enkidu is a solution that could be used by a wide variety of small entities worldwide.
A Wide Variety of Uses that Combine for a Compelling System
Avalon Labs are aware of the fact that Enkidu is limited to smaller businesses, so they have designed a step to convert small businesses into larger companies, allowing businesses to pay-off creditors, distribute funds to all individuals involved in its operations, send lawyer-friendly contract logs and resolutions with detailed financial figures, and transfer their domain to their new company. This is just another of Enkidu’s many uses in addition to group collaboration without forming a company.
The core functionality of the app is centered around a unique payment system, that makes the entire process seamless. The payment system uses a smart contract address that is generated for each project. The beauty of Endiku, which similar apps are currently unable to offer, is the possibility for one project to have multiple payment pathways, enabling instant commissions. In addition, Enkidu’s token pays dividends even for completed contracts that are no longer active. This passive income makes Enkidu a more platform since its participants have incentive to stay.
Endiku offers small businesses a wide variety of benefits, including:
Public Sale Dates and Details
Enkidu will have a pool of 135 million tokens which it will use to fund growth of the platform. If a business decides to use Enkidu to start their first global collaboration project, free tokens will be awarded as incentive for starting a project, assembling a team, and signing digital contracts.
Milestone Token Reward System
The Enkidu team wants to develop a milestone based reward system that rewards not only the project admin, but the entire team with free tokens for reaching preset sales targets. This reward system could ensure businesses continue to use Enkidu for all their business needs and log their rise in revenue, which will coincide with an increase in the number of tokens held by the business. Affiliate marketers will also receive rewards based on milestones.
A unique aspect of the Enkidu system is the fixed transaction fee and how this is used by the Enkidu team. Currently, Enkidu takes a fixed 0.5% transaction fee for every transaction on the platform. This 0.5% fee is split into two equal parts, with the 0.25% going to the Enkidu team for business operations, and the other 0.25% being removed from existence. Removing tokens from the system will appreciate the value of the token and, as the number of users on the platform increases, so will the value of the token.
In its simplest form, Enkidu provides its clients and small businesses with a ready-made structure designed for cross-border collaboration without the requirement of a legal entity. It is ideal for small start-ups and one-man bands looking to recruit a few freelancers in key global markets. Reducing financial and legal overheads, Enkidu is a business-growing, money-saving solution that is required in the current global climate and has the potential to grow into a system that will revolutionize the legal and financial world in which we currently live.