Opolis

Opolis operates as a member-owned digital employment cooperative, offering a structural backbone for independent workers, freelancers, and solopreneurs in the United States. The company was founded in 2017 by John Paller and Eddie Pastore. Paller, the Executive Steward, brings over two decades of experience in HR technology and compliance, having founded multiple businesses in the space and also established ETHDenver, a major Web3 innovation event. Co-founder Eddie Pastore serves as the Chief Operations Steward, leveraging his decade of experience in the HR tech and payroll compliance sectors. The company's genesis stems from the vision of creating a more equitable employment framework for the growing population of self-employed individuals, who are projected to reach 90 million in the U.S. by 2028.

The firm's business model is structured as a Limited Cooperative Association, named the Employment Commons, registered in Colorado. This structure allows Opolis to act as an Employer of Record (EOR) for its members, who are required to form an S-Corp or C-Corp. By doing so, it processes payroll and provides members with W-2s, enabling them to access benefits typically reserved for traditional employees. Revenue is generated through a 1% community fee calculated on the total consumption of payroll and benefits services by each member. Opolis has successfully raised capital to fuel its growth, including a $6.6 million funding round in July 2023, which brought its total funding to $13.3 million at a $50 million valuation. Investors include notable firms such as Greenfield, the NEAR Foundation, Draper Associates, and Polygon Ventures.

Opolis provides a suite of services designed to give independent workers the stability of traditional employment. Core offerings include automated payroll processing, tax compliance, and access to group benefits. Through its cooperative model, Opolis leverages the collective purchasing power of its members to offer competitive rates on health, dental, and vision insurance, as well as 401K retirement plans, Health Savings Accounts (HSAs), and life insurance. A unique aspect of the Opolis ecosystem is its integration of blockchain technology and the '$WORK' token. Members earn these tokens through activities like managing payroll, which grant them voting rights within the cooperative and a share of the profits when the platform is profitable, creating a member-centric model where users are also owners.

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