Welcome to the first Quarterly update in 2023!
With lots of things going on, the team decided to combine both January, February, and March updates into one Quarterly update.
The beginning of the year was very important! Starting with the great success of the OCIF Staking Public testing, the huge “It’s Grow Time” Community Sale Event, to the beginning of the InvArch crowdloan on Polkadot & DAO Staking going live on Tinkernet!
Let’s dive in!
OCIF Staking: Public Testing Event
With more than 9000 participants, 9 open pools, and 31 days of testing, the OCIF Staking: Public Testing Event was a massive success for the project! We saw great interest in the OCIF protocol and lots of new members joining our community!
Thanks to our devs, the whole event went smoothly. The team will use all collected data to improve user experience and tweak the network.
Gabe on the Swanky Panel
On January 20th, the InvArch Co-Founder and CTO Gabriel participated in a Twitter spaces panel focused on the future of WASM Smart Contracts on Polkadot hosted by Swanky. Members from InvArch Astar, Phala, and Oak networks shared their vision on the future of smart contracts and general network development.
You can find the recording here
The New InvArch Network Token Economy
VARCH is the native token of InvArch & used to power operations conducted over the network. Such operations include but are not limited to on-chain governance to determine network upgrades & treasury management, minting NFTs on the network & establishing on-chain DAOs, and registering IP assets & deploying licensing contracts on the blockchain.
Recently, the team shared an updated vision of the InvArch Network Token Economy. The article reflects an update & change compared to earlier information provided. The old tokenomics were made more than a year ago, and since that time, the project has evolved and required some changes to fit the current network mode and ensure a strong and balanced foundation. Read the full article.
Dakota on Talisman Meditations
Talisman wallet — one of the best wallets in the Polkadot and Kusama ecosystem hosted an online event called Talisman meditations, where the founder and CEO of InvArch Dakota talked about InvArch, the latest developments in the creator economy, and intellectual property management in Polkadot.
“It’s Grow Time” Community Sale Event
The InvArch team planned and successfully executed a special token event called “It’s Grow Time.” This event was an opportunity for InvArch community members to obtain InvArch Access Passes, which are exclusive reward-bearing NFTs for the InvArch Network.
During 3 rounds of the event, different whitelisted communities were able to obtain special NFTs that guaranteed VARCH airdrop in the future. The event was a success, with more than 5000 NFTs sold to their happy owners!
More information can be found in the announcement article
Gabe at Spacemonkeys
InvArch co-founder and CTO Gabe, also known as TInker Gabe, was a guest on Space Monkeys, a show hosted on the WAG media youtube channel. The interview took place at the Sub0 conference. In case you missed the video, follow the link to learn more about DAOs, the Polkadot Fellowship, and how to Dev like a rockstar.
InvArch is starting new community incentives using a famous Crew3 platform. From February 16th, 2023 to February 20th, 2023, many InvArch Community Members became InvArch Questers, participating in the very first InvArch Quest Initiative on Crew3!
Over 400 individuals participated, completing Quests such as Onboarding-based quests i.e., Following InvArch on our various social media, inviting friends, and tweeting about the Community Sale Event (at the time).
More quests will be coming soon! Stay tuned and keep an eye on InvArch Discord!
Oxford University presentation
Dakota Barnett, the InvArch CEO, made a presentation on blockchain technology & intellectual property to the students of Oxford University & members of the Oxford Blockchain Society! The aim was to help slowly introduce & expose students to how blockchain technology can be used beyond more than just finance alone.
The recording is available here.
On the 11th of March, the team officially announced that the crowdloan for a Polkadot slot had begun! The InvArch Network will join the Polkadot ecosystem as both a Service Parachain & an application-specific network.
The project is participating in auctions 42 and 43, aiming for a 2-year lease and providing a minimum of 100 VARCH per 1 locked DOT, with various bonuses boosting rewards to over 200 VARCH per DOT. Contributions are accepted through polkadot.js, Nova Wallet, or Bifrost Finance.
The auction batch will end on the 5th of May. You can find more details and instructions on how to participate here.
OCIF is LIVE!
At the end of March, OCIF v1: DAO Staking went live on Tinkernet, In this version, there are two core features: registering INV-Cores & staking TNKR tokens towards registered INV-Cores. Combined, these two features are used to determine the distribution of TNKR funding dedicated to supporting creators on the network.
Within the first few days, more than 500 participants staked around 10% of the initial TNKR supply and are receiving approximately 40% APY as they support three DAO projects.
Discover the OCIF protocol & DAO Staking here: https://www.tinker.network/staking
Thank you for taking the time to read through this quarterly update! We’ll catch you soon on giving the entire InvArch Community an update for Q2!