This InvArch Weekly update is loaded with information. Let’s get to it!
First & foremost, the new InvArch website has officially launched! You can check out the new website by heading to https://invarch.network.
The new website features a brief overview of the entire project on its main page, with more comprehensive technical overviews on the Technology page. The new website also includes community information, social links, & ways to stay updated on the Community page.
The final draft of the InvArch whitepaper has also been published! The final draft of the whitepaper elaborates further on technology already known within the project, such as IP Files, IP Sets, & IP Tokens, while also introducing new technology & concepts such as Smart IP, and IP Virtual Machine (IPVM), IP Replicas, Bridged IP, Wrapped IP, and more.
InvArch: Vision For An IP Ownership, Utility, & Cross-Consensus Authentication Protocol For Web 3.0
ABSTRACT: This paper introduces the conception for a protocol that utilizes blockchain technology to allow individuals…
The series of IP asset-related technologies shared in the whitepaper are all part of the INV4 Protocol, which stands for Invention, Involvement, Inventory, & Investment Protocol. It provides a vision for the foundational architecture that InvArch will provide & revolutionize development with. InvArch then takes this several steps further by introducing the Cross-Chain Authentication (XCA) Protocol. The XCA Protocol provides a means for not just authenticating IP Files across different protocols, but also for protecting their unauthorized use, duplication, and managing customizable cross-chain copyright agreements. A way for proactively protecting data while allowing it to be exposed.
The world is familiar with files & folders; now imagine a world of automatically authenticated files (NFTS = IP Files) & folders (IP Sets). Now imagine pegged tokens (IP Tokens) that represent multi-utility assets & sub-assets. For example, pegged to an IP Set can be 1,000,000 LV.1 IP Tokens (IPTs) which serve roles similar to how ERC-20 tokens can fundraise, provide the ability to use applications, represent voting weight, etc. There could also be 100 LV.2 IPTs, which are sub-assets & could represent edit access to certain IP Files & IP Sets. There could also be 10 LV.3 IPTs, which are also sub-assets & could represent complete admin rights over IP Files & IP Sets. Now imagine a decentralized GitHub featuring this technology, streamlined authentication of files using various hashing methods (CID, SimHash) & rounding algorithms, and the ability to produce forks (IP Replicas) with customized access rights over specifics IP Sets & IP Files within a respective IP Replica. This is just one small example of what is possible, and it’s not just about the secėrity or lucrative potential. It’s about collaboration. Protected open-source everything. Music, code, art, metaverse creations, most patents/patentable ideas & inventions. It’s not cliché branding, this really is the world’s first truly composable platform — in all regards.
The InvArch whitepaper also goes on to introduce not just one single method for IP Staking, but three individual mechanisms for funding & incentivizing innovation on-chain. InvArch will feature 1) IP Bootstrapping, which allows for staked IP Sets to receive a portion of network fees. These allocations are democratically decided by the community via staking their $VARCH token. 2) IP Farming is a way for users to redirect some or all of their staking rewards towards an IP Set in exchange for a proportionate yield of its IP Tokens. Minimum thresholds & timelines are able to be set in order to better protect the community from any scams or unpopular projects. 3) IP Donations are a potentially revolutionary way for funding innovation. Users can choose an IP Set to support, donate their staking rewards to the InvArch Foundation (treasury), and then those funds can be gifted to an IP Set owner(s) as a grant from the InvArch Foundation. Let’s break this down further:
Imagine scenario A) Bob makes a total of $100,000 in a year, $20,000 of which came from staking rewards. Bob gets taxed at a rate of 25%, which is equal to $25,000 of his earnings. This leaves Bob with $75,000 & $0 went towards funding innovation.
Now imagine scenario B) Alice makes a total of $80,000 in a year. It would have been $100,000; however, Alice chose to donate $20,000 of would-be staking rewards via IP Donating. Alice gets taxed at a rate of 25%, which is $20,000; however, she has a $20,000 write-off from her donations, which ultimately cancels out her tax burden. Now, Alice is left with $80,000 & $20,000 went towards funding innovation.
These are hypothetical examples, but highlight the amazing potential for transforming the way individuals around the world can fuel a more innovative future.
Lastly, additional information surrounding the InvArch testnet is pending as a few remaining key decisions are still being made. However, we’ll just leave this here…
The InvArch Discord saw a surge in growth this past week, climbing from around 10,000 members to over 16,000 members in just a few days! This followed the news of the InvArch NFT banner airdrop, featuring 4 exclusive NFT profile banners for RMRK’s Singular platform. Everything is set and ready to go with the NFT banners set to drop any day. The mass mint event is being conducted in coordination with the RMRK team.
Earlier today, the InvArch Ambassador Sync took place, covering everything from the recent tech updates, program restructuring, future plans for the program, and the InvArch TGE. If you missed out on the monthly sync, a video recording of the call will be shared in the InvArch Discord shortly.
As promised, a lot of technical information has been made available to digest, with a lot more on the way! Huge PR campaigns are in store for the upcoming days & weeks, so make sure to keep your eyes on the InvArch Twitter 👀
Things are getting interesting… 🚀