InvArch Weekly Wednesday: June 22, 2022
Watch the InvArch Weekly Update on YouTube:
Hello to all the InvArchitects out there, as well as all of Dotsama and Web3! 👋
We have an important update to share in this week’s InvArch Weekly Wednesday Update, including a recap of other important events that will be taking off towards the end of the month.
Let’s dive in!
InvArch: Brainstorm Testnet Community Workshop (Part 2) — Complete!
First and foremost, thank you so much to all those who participated in our Brainstorm Testnet: Community Workshop, and a big thank you to InvArch’s very own Head of Technology, Gabe, for leading the workshop.
In this second workshop, we went over IP Licensing V2, showcasing some of its functionality, including multi-signature permissions, weights, custom WASM permissions, and RMRK NFTs in IP Sets!
We had many individuals join us this time around–over 80+ individuals took part in this second workshop, which is a jump from our previous workshop numbers, of which were 30+ participants. Along with an increase in numbers, we also saw an increase in engagement throughout the workshop and we appreciated this a lot!
Now about that NFT Badge… 👀
As announced in previous Weekly Wednesday updates and in community announcements, those who participated in these Brainstorm Testnet: Community Workshops will be receiving the Brainstorm NFT Badge. This NFT Badge will give you access to our Community Sale/Event. In addition, the same Brainstorm NFT Badge holders that contribute to the Tinkernet KSM Crowdloan will also get a 10% increase in the weight of their inducement bonuses (which will be calculated at the end of the crowdloan).
In conclusion, the Brainstorm NFT Badges are currently being minted!
We don’t currently have plans for a third workshop, but we will let the community know once that does become a reality.
Tinkernet — Tinkernomics Update
A few days ago, we released an update on our canary parachain, Tinkernet, specifically its Tokenomics. The team realized that some very important changes needed to be made. In short, keeping in mind, 1) the allocations that were going towards the crowdloan, and 2) the recent market conditions, we ran the numbers on the Tinkernet crowdloan rewards and found flaws that would make these rewards not worth everyone’s while.
Not to mention, we also recognized that there could have been a possibility that a few or many few individuals would reap the majority of the rewards, and this would not be healthy for the network and would hurt the immediate and long-term value of the token. In addressing the utility needs for the network; being able to fund IP Staking, such rewards (going with the original Tinkernomics) would hurt incentivization, participation, and the success of the network.
We released a full update on our Medium blog, and Dakota breaks it down in today’s InvArch Weekly Wednesday project update on YouTube!
If you haven’t already, check out the newly updated Tinkernomics!
Tinkernet Kusama Crowdloan
Just a reminder that we are going for the 42nd Auction on Kusama and it starts on June 29th, 2022!
We are also working with other teams for integrations so that everybody can participate in the crowdloan (more details to come). We hope you are ready! The team is absolutely thrilled and is looking forward to all of your support for Tinkernet in the upcoming crowdloan on Kusama!
If you have any questions, please reach out to the team via the Questions channel in our official InvArch Discord server.
Polkadot Decoded 2022 + Dakota’s Talk is coming up!
Just around the corner as well (in fact, on the same day that the Tinkernet crowdloan launches), Dakota will be speaking at Polkadot Decoded in New York!
The time and date have changed to June 29th @ 2:25pm EST.
If you cannot make it, you can always catch the live stream of the event (including the other locations) online! — For more details and information, check out the official Polkadot Decoded website: https://decoded.polkadot.network/
So that just about sums up today’s InvArch Weekly Wednesday! An update to Tinkernet’s Tinkernomics, complete the second part of the Brainstorm Testnet: Community Workshop, the Brainstorm NFT Badges are being minted, the Tinkernet Crowdloan coming up, and InvArch coming to New York for Polkadot Decoded!
How’s that for a strong finish to the month? 💪
Catch us next week!