Blockstack’s former head of growth, Patrick Stanley, is launching a complementary crypto company of his own, Freehold.
Much like the former Ripple CTO Stefan Thomas who founded Coil to build services related to XRP, Stanley now runs Freehold as an independent company within the token ecosystem related to Blockstack’s namesake cryptocurrency, STX.
Freehold kicks off today by opening enrollment for the first cohort of Freehold evangelists. This program literally pays newbies – in bitcoin (BTC) – for studying and saving in their own wallets. Stanley compared it to the Mormon door-to-door missionary program, rather than crypto fans “talking to themselves on Twitter all day.”
“HODLing members will be incentivized to lead community-building initiatives, share educational resources, and participate in contests in exchange for rewards,” Stanley said. “I’m taking a hands-on approach to the initial onboarding. I’m paying them in bitcoin to monitor their bitcoin accounts and eventually moving on to STX.”
Former Earn.com Balaji Srinivasan, an unaffiliated fan of the project, said in a press statement that Freehold “gives direct utility to holding crypto.”
Stanley said his company hired a few part-time workers, starting with a rewards budget of under $250,000 to serve an initial cohort of less than 50 newbies. Program participants are selected based on need and given assignments