This week at InvArch has been one of accomplishment. It has been such a jam-packed week and there’s a lot to cover, so let’s dive in!
Technology
This week, the InvArchitects behind the project have achieved a significant development milestone. They have completed the development of 3 custom pallets for the InvArch chain -the IPS, IPT, and IPO Pallets.
The IPS Pallet 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! The IPT Pallet is what allows users to store their files as non-fungible tokens. These tokens, called Intellectual Property Tokens, are files stored using IPFS. IPFS stores the files and returns a CID pointing to the file, the CID is then used to mint an IPT. IPTs can be viewed as components of an idea, and are intended to be stored in IP Sets. Lastly, The IPO Pallet is what will allow users and dApp developers to create fungible and fractional ownership tokens that are pegged to an individual IP Set.
This is a huge achievement! The creation of these Pallets lays the foundational infrastructure in place for the rest of the InvArch chain. More advancements to come!
Checkout the video below to see the process of minting an IPT:
And Transfering Ownership of an IP Set:
This week also witnessed the publication of the InvArch whitepaper. If you haven’t had the chance to read it, check it out below:
Community
The InvArch community has been explosive! The Discord has recently seen member counts passing the 500 mark, InvArch is having its first AMA (October 2nd @ 2 PM EDT), and the InvArch Ambassador Program has officially launched!
In less than a week, over 200 applications were submitted to the InvArch Ambassador Program, and just over 100 Ambassadors have been welcome to the program! Congratulations to the following ambassadors:
@1jekie#1172 | @210s#1004 | @[V-pokere]Antonio#1847 | @aesha#5577 | @afeadi#7891 | @albertinim211#0428 | @Andra#5473 | @annieben#5627 | @Anthonyy#6212 | @Anton1982#4860 | @Artur252010#4183 | @BaddieX#4182 | @bigunpopka#1565 | @BR0J0B#5664 | @Canirovee#6430 | @chelutaj#5243 | @chtotodrygoe#2455 | @Clown#0911 | @cmalize#8352 | @cryptopositiv#2829 | @DariaDd#9682 | @Dast_Wasd#3856 | @davidjr#1940 | @Davidmijo#2932 | @delaw#9920 | @dewerd#6578 | @diboss#1246 | @Dilshaner#0441 | @Divblaze#2335 | @Elektrovenik#6238 | @Elvisd#3641 | @Ewuosho#0260 | @Famich#6124 | @Fetalio#7933 | @Fl1de#7939 | @Fredeix#5741 | @GAGARIN#5263 | @garmata#8329 | @gidoskie#6241 | @gone#9745 | @Goodluck Junior#1540 | @graanit#2256 | @Greenrock#7739 | @gurt#5914 | @haenko#3692 | @harryklassic#8584 | @HeldigTigger#6737 | @iamonyema#4324 | @illus086#8571 | @Jahkamso#5065 | @jakub#4397 | @jazz#7784 | @karcharodon#9336 | @kubvil#4326 | @lewka#9278 | @Lois93#8066 | @Mafiozi228#7758 | @Malize Fred#2472 | @merge#4475 | @messil#3009 | @Metamorfozzz#8910 | @MhiztaLOEL#5111 | @Mikhail2195#7605 | @Miox#0422 | @Morgan#9970 | @motaro#2166 | @MykytaZhuravlov#2416 | @Nabu Victor#2394 | @nohnoh#4789 | @Ojusmony#5975 | @Olami90#6008 | @Oleksandr Kryvosheiev#9474 | @Oluwasola#3894 | @Oneplus#9159 | @parapsiholog4#3768 | @Preye#2137 | @rekord#0405 | @Ricomella#5029 | @RinatIbragimov#1323 | @romannn#1627 | @rossoneri#3940 | @SAKURA#0129 | @samxon#5629 | @saniksin#7911 | @Sbroll#4927 | @Servantes87#7821 | @shorlaah#8679 | @Siadulinho#4242 | @Slim#0090 | @sliwa#0405 | @sorbitov#4521 | @sprintx24#5095 | @Starbimlaw#5475 | @tayanta#4293 | @thetalkativepr#5393 | @Tmartins#3529 | @traskaver#7510 | @Universe#5473 | @utomobong#4482 | @Vladique#2310 | @Voronovskiy#7488 | @xe3ric#0192 | @Гоша#3796 | @ФАКBOY#6170
We can’t wait to see what the future has in store and look forward to releasing details centered around our exclusive NFT giveaway event soon. We’re commissioning a top-notch artist for the project!
Finances
The tokenomics are finalized and the allocation of VARCH is set:
The InvArch team will kick off its first funding round for the InvArch chain starting this month! Get ready 😉. Interested parties should check out our Pitch Deck 🚀
The seed round will allocate 10% of the total token supply at a rate of 1 VARCH : $0.025. The fundraising goal of this round is $2.5m, with a minimum floor of $50k and a maximum ceiling of $500k (equal to 2% of the total initial supply). Participants can expect a 24-month vesting period, with a 3-month cliff and equal vesting in months 4–24. The Token Generation Event is slated for late November and will take place on the Statemine chain.
InvArch has also submitted its first milestone under a grant funding proposal! Now, the InvArchitects wait to hear back on the results of their submission. Fingers Crossed 🤞
By the end of this month, the founders of InvArch fully expect to have concluded their first funding round and to be in a position to start hiring and expanding the team! As Progress is made and partnerships are formed, the community will be updated via Discord and Twitter!
Conclusion
October is going to be a very defining month for the project, one where InvArch will come out supercharged and ready to grow! Our Ambassadors can expect things to get serious beginning this weekend, and the founders are excited to speak with everyone at the AMA. Things are happening fast, and it's amazing to see the organic growth and support throughout the community. The team is committed more than ever to building a better and more decentralized future where innovation can flourish! 💡
