The InvArch Network Crowdloan on Polkadot has returned, offering generous rewards for contributors
InvArch network’s groundbreaking innovation has garnered significant attention and support from a committed and engaged community, solidifying its potential to drive transformative change.
The Polkadot community has showcased their support for InvArch network through significant events like "OCIF Staking: Testing Event Guide" and "It’s Grow Time." Additionally, the last InvArch crowdloan, which amassed an impressive 150k DOT from 814 contributors, witnessed an unprecedented level of individual participation than any crowdloan has experienced in months. However, prior to the start of the slot auction’s bidding phase, the Acala Foundation outbid InvArch network with an anonymous self-bid of 155k DOT.
The exciting update is that InvArch Network has reentered the auction race with an increased hard cap and an improved reward structure for contributors. The InvArch crowdloan is currently live, with over 45k DOT contributed thus far at the time of writing this article. You are still early as the first milestone target has not been reached, which means that upon reaching 100k DOT contributed, there will be a 33% bonus for all the contributors. The core team is relying on the support and enthusiasm of the Web3 community.
Before delving into the rewards awaiting contributors on the InvArch Network crowdloan, it is crucial to acknowledge the remarkable accomplishments of the team amidst this challenging bear market. InvArch Network has been instrumental in generating substantial impact and generating significant buzz within the Polkadot ecosystem and the broader Web3 community.
Brief Overview
The InvArch Network leverages the Polkadot infrastructure to create a robust creator economy. Its primary objective is to establish a decentralized and trustworthy communication platform that enables the creation of DAOs, facilitates seamless collaboration among creators in Web3, and fosters borderless businesses.
The InvArch network, with its unique services centered around tokenization of IP and decentralized organizations, describes itself as the DAO hub of Polkadot and Web3 in general.
The InvArch infrastructure, comprising INV4, XCA, OCIF Staking, Saturn, etc will provide a range of utilities and functionalities that not only enhance the developer experience but also cater to the user experience.
Moreover, the implementation of their GitArch application, serving as a censorship-proof backup for repositories, can be characterized as a decentralized and highly advanced alternative to GitHub. This platform enables individuals to develop code for unstoppable applications.
INV4 & XCA protocols
These protocols will make it nearly impossible to steal anything, whether it’s ideas, images, sounds or music.
Invention, Involvement, Inventory, and Investment (INV4) protocol, which represents the essence of the creator economy, will empower creators to tokenize any digital files or transform their ideas into NFTs known as Intellectual Property Files. These IP NFTs will be registered and safeguarded by a cross-chain authentication (XCA) protocol. XCA ensures that these registered NFTs cannot be plagiarized on other chains.
For example, INV4, which offers secure files immune to piracy along with on-chain copyright and licensing. This will enable two artists to collaborate while maintaining equal rights to the track, with each artist preserving their IP.
Seeking protection through InvArch network is significantly more cost-effective than the current status quo. Creators will be able to register and protect their IP NFTs by paying a premium fee and bonding VARCH tokens.
OCIF Staking
The On-Chain Innovation Funding (OCIF) protocol is a staking feature incorporated into InvArch Tinkernet, which serves as the InvArch’s canary network.
The OCIF Staking concept bears similarities to Astar’s dApp staking and offers innovative projects the chance to generate cashflow without relinquishing their IP rights. This protocol creates economic opportunities for such projects.
The OCIF Staking allows creators to register INV-Cores, which are NFT-based repositories and DAOs. Tinkernet users have the opportunity to stake their tokens on a specific IP set to demonstrate their support for it. The funding for these IP sets is derived from a percentage of transaction fees collected on Tinkernet. The amount of funding received by an IP set is proportional to the tokens staked on that particular IP set. This arrangement benefits not only creators but also TNKR token holders.
Some DAOs have begun utilizing OCIF Staking. If you are a TNKR holder or do not have any TNKR, visit Basilisk Finance to acquire some TNKR and proceed to https://www.tinker.network/staking to support your favorite DAO.
Saturn
InvArch has developed Saturn, its own innovative and adaptable multi-chain multisig solution that functions as a multi-party ownership protocol.
Existing multisig solutions are typically confined to a single blockchain where they are deployed. However, envision the scenario of operating across multiple chains; it would necessitate deploying and managing separate multisig accounts for each chain, which is both laborious and costly. Saturn Multisig offers a game-changing solution by enabling users to deploy and operate a single multisig account seamlessly across various dApps, parachains, and blockchains within the Web3 ecosystem.
With Saturn, DAOs can leverage customizable ownership structures, granting them the flexibility to incorporate diverse levels of ownership, voting rights, and profit-sharing arrangements tailored to their specific needs and preferences.
Saturn can seamlessly serve all parachains without the need for a Virtual Machine (VM), and the adoption process for any parachain is swift, typically taking around 5 minutes. Developers can easily integrate Saturn into their applications, including dApps, wallets, etc through the Saturn SDK. Moreover, fees for utilizing Saturn can be paid using VARCH and DOT tokens.
What’s coming?
Many of the current DAOs lack true decentralization as they rely on Discord Servers, where a single account holds full control over the server. To address this issue, the InvArch team is developing an innovative solution known as DAOist CDK. This groundbreaking tool in the Web3 space is designed specifically for launching DAOs, offering a Community Development Kit that enables decentralized governance and ownership of Discord Servers. The design of DAOist CDK combines the capabilities of INV4 protocol, RMRK protocol, and Phala Network’s Phat Contracts.
The power of Polkadot’s XCM protocol and Saturn (multi-chain multisig ) will enable the InvArch infrastructure to deliver satisfactory services to developers and users within the DotSama ecosystem and across multiple chains.
Summarily, the team of InvArch Network has laid down the framework for a decentralized economic future. With INV4, creators can start protecting their IPs at a very affordable cost. Furthermore, through OCIF Staking, DAOs can begin receiving community-driven funding. Saturn enables multiple parties to own assets and share the related benefits and risks. Finally, DAOs will experience full decentralization with DAOist CDK.
Dual token economy model
The InvArch Network team is developing a model in which both TNKR and VARCH tokens will enhance each other, avoiding value shifting. Specifically, the VARCH token operates as a utility medium, while the TNKR token acts as a financial medium.
The team presents a model wherein the InvArch Network assumes control over the governance of the creator economy on both chains. Additionally, it offers permanent storage for data and NFT assets. The VARCH token is utilized to incentivize storage and promote active participation in network governance, allowing users to earn dividend rewards in TNKR by staking VARCH token for network storage and bonding it for voting in network governance.
On the other hand, InvArch Tinkernet will focus on housing the INV-Entity and INV-Engine modules, while also incentivizing and empowering development through the On-Chain Innovation Funding (OCIF) protocol. Within the InvArch Network, the TNKR token assumes the role of the primary economic medium, as it is staked with OCIF to earn rewards through inflation and used to cover fees across both InvArch and Tinkernet.
InvArch Crowdloan
It’s important to note that the VARCH token allocation for this crowdloan has multiplied by a factor of 2.666667x in comparison to the previous InvArch crowdloan. As a result, contributors can anticipate greater rewards.
The Invarch crowdloan will be available during slot auctions #44 and #45, spanning several weeks. The team intends to raise 350,000 DOT and individuals can contribute their DOT tokens to the crowdloan either from their personal wallets or via Dapps that facilitate the crowdloan process. After a duration of 2 years, all DOT tokens contributed to the crowdloan will be fully refunded to the participants.
VARCH is the native token of the InvArch Network, with a fixed total supply of 1 billion tokens and no token inflation. Notably, 4% of the total VARCH token supply, which is equivalent to 40 million VARCH, will be allocated and distributed among the contributors to the crowdloan. In practical terms, this implies that for each DOT provided, participants will receive a reward of 114.285 VARCH tokens. 10% of the VARCH will be immediately accessible for claim at TGE, while the remaining 90% of VARCH will be subject to linear vesting and unlock gradually over a 96-week duration, with the unlocking process occurring every block.
Breakdown of the bonus rewards:
The reward structure consists of the following: Contribution Bonuses, Milestone Bonuses, and Loyalty Bonuses
Contribution Bonuses:
Note that only the Contribution Bonus with the highest amount will be utilized. Contribution Bonuses can be combined with Milestone Bonuses and Loyalty Bonuses.
- A participant who contributes 100 DOT or more will be eligible for a 5% bonus.
- A participant who contributes 500 DOT or more will be eligible for a 10% bonus.
- A participant who contributes 2,500 DOT or more will be eligible for a 15% bonus.
- A participant who contributes 10,000 DOT or more will be eligible for a 20% bonus.
- The top 20 contributors will be entitled to 5,000 TNKR each.
Milestone Bonuses:
These bonuses apply to all contributions made during the period when a threshold is reached. When a milestone of contributed DOT is achieved:
- Contributors will receive a 33% bonus when the total contributed DOT reaches 100k DOT.
- Contributors will receive a 33% bonus when the total contributed DOT reaches 200k DOT.
- Contributors will receive a 33% bonus when the total contributed DOT reaches 300k DOT.
Loyalty Bonuses:
These special bonuses are exclusively reserved for members who have contributed to the growth of InvArch Network in various ways.
- Contributors who possess an InvArch Access Pass NFT will receive an additional bonus of 5%.
- Contributors who participated in the first InvArch crowdloan will receive an additional bonus of 5%.
- Contributors who participated in the Tinkernet crowdloan will receive an additional bonus of 2.5%.
How to participate
You can contribute through various means, but the currently available options are either Polkadot.js or Nova Wallet. Other options will be updated in due course, such as the Bifrost.dapp, where you will earn both VARCH and vDOT.
Using Nova wallet:
1. Go to your Nova wallet, click on "vote".
2. Click on "Crowdloan" and navigate to InvArch.
3. Enter the amount of DOT you want to participate with. Then click on "continue’’.
4, Finally, approve the transaction.
Conclusion
Considering the high rewards and the impressive innovation of the InvArch team, such as Saturn, which positions them as a key player in the Web3 ecosystem, participating in their crowdloan presents a profitable opportunity for contributors in the Web3 community.
Personal opinion: Given the fact that our traditional economy is highly centralized and currently crumbling, what the InvArch team has been able to achieve is a restoration of hope for creators.
To stay up to date with the latest news and updates from InvArch Network, follow them on their Twitter handle here:
https://twitter.com/InvArchNetwork?s=09
For more information, please check out these links:
https://invarch.medium.com/the-invarch-network-crowdloan-on-polkadot-is-back-54e4e914cb6
https://invarch.medium.com/the-invarch-network-crowdloan-on-polkadot-is-back-54e4e914cb6
https://invarch.medium.com/the-saturn-sdk-c46b4e40f46e
https://invarch.medium.com/the-ocif-protocol-permissionless-funding-for-daos-creators-505aa18098f1
https://invarch.medium.com/the-inv4-protocol-the-core-of-the-creator-economy-1af59fdbc943
https://invarch.medium.com/the-invarch-network-dual-token-economy-997894f03f01
