It looks like Gigster will invest (money, time?) in some companies from a predetermined fund, not Gigster itself. In turn, they will share 1% of their fund equity with all Gigster developers who were active at the time, paying out when a fund company or Gigster liquidity event occurs. They will allocate rights to returns to active Gigster developers over a 1 to 5 year period.

It looks like, as a Gigster developer, you would get 1%/total active Gigster developers. If there were 500 Gigster developers over that 1 to 5 year period, you'd get 1%/500 = 0.002% of a liquidity event depending on Gigster's weighting mechanism. If Gigster's equity stake was 20% in a company that exited for $100 million, you'd receive maybe $40,000 depending on how Gigster determines your weighted percentage.

It's not really even the same league as a 401k or pension, contrary to what the page says.

Calling it equity is a bit confusing. On the page it states at the top:

"Gigster Fund provides our freelancers with access to equity from Gigster and select companies in our client portfolio."

At the bottom it states with regards to owning equity:

"No. Direct equity ownership or indirect ownership through a limited partnership has complex tax & legal implications, and the SEC limits the number of shareholders a corporation may have which would make direct ownership impossible after a certain number of freelancers".

And

"No. Direct equity ownership or indirect ownership through a limited partnership has complex tax and legal implications. In the United States, for example, Gigsters would be required by law to be accredited investors."