InvArch is honored to share some news, and while the heading may be a bit of a spoiler, it’s best if everyone briefly introduces themselves to the project. 💡
A Very Brief Introduction
InvArch is an intellectual property & decentralized development network for web 3.0. The network’s purpose is to provide an environment where users can secure their ideas and then form partnerships with other users on the network in order to actualize their ideas and bring them to life.
More details can be found on the InvArch website or by reading the InvArch whitepaper by clicking the article below.
The InvArchitects Behind The Project
The team behind the project is a blend of professionals and engineers, and together they provide for an amazing team full of spectacular individuals.
The Project’s Founder, Dakota Barnett, brings experience from a mix of both private and public sector roles with focuses on cross-team management and support services. Gabriel Facco de Arruda, CTO & Co-founder of InvArch, brings proven and tested experience as a skilled and agile developer from within the Polkadot ecosystem. Kresna Sucandra, CDO & Co-founder of InvArch, deploys extensive and nurtured knowledge of the Substrate framework and showcases this knowledge through his work. Mindaugas Savickas is the CMO and final Co-founder of the project. He is a laser-focused individual who brings strategy and foresight to InvArch. Casey Richardson serves as the community manager for the fast-growing InvArch Ambassador Program. Lastly, Bruno Škvorc (Founder, RMRK) and Sonja Prstec (Former Advisor: The Web3 Foundation) serve as the project’s technical advisor and legal advisor, respectively.
With introductions out of the way, it’s now time for the big news!
InvArch is a Web3 Foundation Grant Recipient!
In early September, the InvArchitects were cleared to begin the development of several custom pallets under the funding of a Web3 Foundation Grant proposal that they had submitted. The proposal was to develop a series of custom Pallets for substrate-based blockchains to use that allows users to tokenize their ideas and take part in decentralized ventures in order to actualize their newly tokenized concepts.
The proposal was broken down into two key development milestones. The first milestone was focused on the development of a series of custom Pallets focused on intellectual property tokenization. The second milestone is focused on the development and realization of decentralized and multi-governance collaboration mechanisms, also to be achieved through the implementation of a series of custom Pallets.
These Pallets are open-source developments, and available for all developers in the Polkadot ecosystem to implement and utilize.
You can learn more about the team’s grant proposal by clicking the link below:
Why Web3? Why Polkadot? Why Substrate?
The Web3 Foundation funds research and development teams building the technology stack of the decentralized web. It was established in Zug, Switzerland by Ethereum co-founder and former CTO Gavin Wood. Polkadot is the Foundation’s flagship project. Polkadot is a scalable sharded chain and the first protocol that provides a secure environment for cross-chain composability across multiple shards. Polkadot also introduces a highly advanced, open governance system that will allow the network to innovate and grow at a much faster pace than legacy networks. Applications from DeFi to energy to gaming will thrive on Polkadot, challenging the centralized platforms of Web 2.0.
Substrate is the same blockchain framework that can be found under the hood of the Polkadot network and will allow InvArch to one day seamlessly connect with an entire ecosystem of interoperable protocols and share in the security of the Polkadot ecosystem. Being built using Substrate also means that users will be able to enjoy lightning-fast transaction speeds, minuscule transaction fees, and seamless runtime upgrades!
Interoperability. Security. Scalability. With the future future in mind, we see it as our responsibility to build on top of this foundation, we owe that to everyone who supports the project. -Dakota Barnett, InvArch Founder
Learn more about Web3 Foundation by visiting their website, and stay up to date with the latest developments by following them on Medium or Twitter.
Milestone 1: IP Pallets & Standards ✅
People have ways to protect (think: patent) their inventions, and sometimes their designs, through centralized entities; however, these methods can be costly, subjective, and lack security on a global scale. More so, if one were to leverage the tools of these institutions, they almost always find themselves being directed to hire an attorney to do the work for them. Again, a costly process. In short, if you can afford it, you can sometimes protect your ideas within certain borders, and at the discretion of a centralized body. This is a broken system. This is a problem, and it is one of the problems that InvArch aims to solve.
InvArch approaches ideas (intellectual property, or IP) as a set of non-fungible components. Intellectual Property Sets (IP Sets) represent the idea. Intellectual Property Tokens (IP Tokens) represent the non-fungible components of an idea. These components serve to help describe and strengthen an idea. Lastly, Intellectual Property Ownership Tokens (IPO Tokens) represent the ownership of an idea. IPO Tokens each represent a fractional piece or claim of ownership rights over an IP Set.
Through its first development milestone, InvArch achieves these mechanisms through the utilization of its IP Pallets (Pallet_ips, Pallet_ipt, and Pallet_ipo).
Pallet_ips
The Pallet_ips allows users to organize their intellectual property tokens in sets. These sets represent ideas and can be bought and sold, among many other features with even more to come!
In context, an IP Set is viewed as an idea, which consists of one or more components (IP Tokens) that help to strengthen and describe that idea. For example, a 3D rendering of a flux capacitor prototype could be stored as an IP Token representing an STL file. Additionally, an XML file explaining the relation between a flux capacitor’s different components could also be stored as an IP Token in the “Flux Capacitor” IP Set, these two files exist and help to strengthen and expand on the idea for building a flux capacitor.
The IPS Pallet is a Substrate Pallet developed by the InvArchitects behind the project that defines basic functions to create and manage an IP Set. As a result of this development, users can create a new IP Set, transfer an IP Set to a different owner/account address, list an IP Set for sale, buy an IP Set, and delete an IP Set.
Pallet_ipt
An IP Token (IPT) is a part of a set and can be thought of as a component of an idea. Either by itself or in combination with other IP Tokens, it serves to strengthen the foundation for an idea. IP Tokens represent a unique digital asset. IP Tokens are stored using IPFS, which is a decentralized storage protocol that securely stores files off-chain and provides a unique hash or CID which is used to query the data.
The IPT Pallet, another custom pallet recently developed, allows users to mint new IP Tokens and add them to an IP Set, burn an IP Token from an IP Set, and amend the data stored inside an IP Token.
Pallet_ipo
IP Ownership (IPO) is a form of fractional ownership over an IP Set. A finite and preset number of fungible IPOs may be assigned to a single intellectual property set. The value of a single IPO will be determined by the total amount of the network’s native currency bonded to the IP Set, divided by the total number of IPO tokens.
The final Pallet in this series, the IPO Pallet, provides the logic so that users can issue the total supply, transfer some tokens to another account, set the balances to a given account, and bind or unbind IPO to an IP Set.
The InvArch Pallet Library
The InvArch Pallet Library (IPL) is an open-source (GPLv3) Pallet library available for all Substrate developers to utilize. At the time of this article’s publication, the IPL references current and future Pallets; however, The IPS, IPT, and IPO Pallets are complete and ready to go! 🚀
Test Them Yourself!
To test the IP Pallets first clone the InvArch Pallet Library, and enter the project directory.
git clone https://github.com/InvArch/InvArch-Pallet-Library
cd InvArch-Pallet-LibraryThen run the test using:
cargo testYou can also check out some footage of the pallets in action by watching the videos below.
IP Transfer:
Minting an IPT:
Milestone 2: DEV Pallets & Standards ⏱
On the horizon is the team’s second milestone under their Web3 Grant proposal. This milestone includes the development of the DEV Pallets & Standards, which also consist of a series of custom Pallets. These Pallets will consist of the Pallet_dev, Pallet_dao, Pallet_deliverables, and Pallet_worklog.
What the team is currently working on: Pallet_dev
The Pallet_dev is responsible for linking a venture to an IP Set, establishing the roles, terms, milestones, IPO allocations, tracking interactions with an IP Set (including the interview process(es), and then freezing this information and storing it as an NFT using IPFS.
Much of the values stored in a DEV will later be referenced by other Pallets. For example, Pallet_dao will reference the IPO allocations and terms when structuring the governance of a project, and Pallet_deliverables will reference the milestones when structuring the timeline for progress development.
Milestone Deadline
The approximate due date for the submission of the completed second milestone is November 25th, 2021. The acceptance of the second milestone would also signal the completion of the InvArchitect’s Web3 Grant Proposal!
The team is more excited than ever for the road ahead, but they recognize that there is still a lot of work to be done! To follow along the team’s journey and stay up to date with the project and the team’s latest accomplishments, follow InvArch on Twitter or hop in the InvArch Discord and join over 2.5 thousand other members supporting the project!
