InvArch Weekly Wednesday: May 18th, 2022.
Watch the InvArch Weekly Wednesday update on YouTube:
Hello, all InvArchitects! Thank you for keeping up with us as we are back with another InvArch Weekly Wednesday project update. As always, there is lots to talk about in this update, from deploying a permanent testnet to announcing some awesome achievements & events.
Let’s get into it, shall we?
Tinkernet Parachain Tokenomics Structure
On Friday, May 20th, we will be releasing full information on the Tokenomics Structure for our parachain on Kusama.
InvArch “Brainstorm” Testnet
This upcoming Monday, May 23rd, we will be deploying our permanent, unincentivized testnet called “Brainstorm.”
The Brainstorm testnet is your sandbox for no-consequences exploration and prototyping of your ideas. It aims to replicate the Tinker experience as close as possible while relying on valueless tokens that you can claim at any time. On this testnet (that will be running indefinitely), you are able to make mistakes and go back to your drawing board until you have something you truly believe is worthy of going to Tinkernet with.
Keep your eyes & ears open for updates regarding Brainstorm!
InvArch Crowdloan Model
In the last week or so, we have been subtly talking about a new model that Dakota and Gabe, (Founder and Co-Founder/Head of Technology Development, respectively) have been working on.
Why is this crowdloan model so special? — It’s a model that realizes, successfully, the way that individuals contribute KSM to a crowdloan, the more people that contribute in the process, the more value will be given/found.
This crowdloan model offers a better framework for individuals to participate without diluting any value or rewards from other individuals. Furthermore, the earlier you contribute and the more individuals who contribute, the more value you will receive as it further scales. More details on this crowdloan model will be shared this upcoming Friday as well.
Community Event Details — Update
We originally did plan on releasing more details on the Community Whitelist Event this past Monday, but something did come to our attention and we decided to rethink how we want to effectively hold this event.
With usual community sales, there is a risk involved where individuals are able to access tokens at a cheaper rate, however, these things are not guaranteed. Individuals put their money towards something that they hope is going to be worth the value (or more) than what they invested, but it doesn’t change the fact that this possibility is unknown. Ultimately, there is an amount of risk involved in supporting/investing in a project, and it isn’t always quantifiable in the end.
We want to underline that this is not about us raising money (in this aspect), this is about the community and how much we truly appreciate and want to reward our supporters!
After the release of the Tinkernet Parachain, after the release of the TNKR token, things have settled and there is a fair market value on the token, then we will release details regarding this Community Event. In full transparency, we are aiming for around 1–2 months (after the launch of our Tinkernet Parachain) to hold this Community Sale. It will be for early “OG” community members, and holders of the InvArch NFT Banners; any of these individuals will be able to go through KYC where they will get an automatic discount on the value of such tokens. The exact amounts are to be determined, but this is the community and we have allocations set aside for these community members.
All that being said, rather than having our supporters take a shot in the dark, we would rather establish and prove the value of our technology, prove its worth (instead of building speculative value), and then we can go ahead and pay this back to the community. Again, as a team, we want to ensure that we can give back value to you because you all deserve it!
InvArch Eduseries 5
This past Saturday, May 14th, we finally released the 5th article of the InvArch Eduseries!
This article explores InvArch’s OCIF protocol, or On-chain Innovation Funding, and how InvArch will revolutionize staking and will set a gold standard for on-chain funding.
The OCIF protocol also realizes 3 different mechanisms: IP Staking, IP Farming, and IP Donations. All three (3) of these tie into the InvArch network staking model, and it uses this method of securing a network through the transferring of value to incentivize individuals who participate in the process of making the network possible. By doing so, allocating network fees through this process can also go towards staked IP Sets, fuelling innovation, kick-starting it, etc. With OCIF, we are redefining what it means to not just build wealth in a network but to also share in the wealth that is built.
All things considered, we don’t want to write another article on OCIF in this Weekly Wednesday, so if we have piqued your interest thus far, please check out the InvArch Eduseries 5: Supercharging Developers and Empowering Innovation with OCIF (https://invarch.medium.com/invarch-eduseries-5-supercharging-developers-empowering-innovation-with-ocif-f4321673b4ce).
We do also have prior releases in the InvArch Eduseries, which you can check out in this very InvArch Medium blog!
Dcentral Austin, Speaking Opportunity
The team is proud to share the news that InvArch’s very own founder & project architect, Dakota, will be speaking at Dcentral in Austin, Texas! This is dubbed as “The Web3 & NFT Event of 2022” and it is the event that will be kicking off Consensus Festival Week. Dcentral will take place from June 7–8th at the Long Center for the Performing Arts.
If you are in the area, or if you will be in the area during that time, we’d love to see you there!
Consensus 2022 — Presented by CoinDesk
Another event that the team is thrilled to attend is Consensus 2022! Known as the “Festival for the Decentralized World,” this event is during the same week as Dcentral (also in Austin, Texas) and takes place from June 9th to June 12th.
The team members attending this event are as follows: Dakota, Gabe, Mindaugas, Casey, and A.J. We will have some swag to give out, and of course, we are looking forward to meeting & getting to know our supporters and community members!
Polkadot Decoded 2022
We are excited to announce that Dakota will also be speaking at Polkadot Decoded 2022, in New York!
This is the 3rd edition of Polkadot Decoded which will be running from June 29–30th. Live conferences will occur in the following cities–Berlin, New York, Buenos Aires, Shanghai, and Mexico City is featuring a one-day global opening ceremony on June 28th (live or online). You can also access Polkadot Decoded content online via live stream regardless of physical location!
Dakota, including the rest of the team, extends his thanks to everyone that helped make this become a reality, and to also be given a platform to talk about what the Polkadot Ecosystem (and InvArch) is building. The proposal submitted was XCM: The future of an authenticated internet, and because of your votes and support, it was included in the final conference program at Polkadot Decoded! Thank you to everyone who supported InvArch and Dakota by voting and spreading the word of this wonderful opportunity. We’ll see you at Polkadot Decoded!
To wrap things up, we have quite a few significant events taking place over the next couple of days. Tinkernet Tokenomics Structure coming out this Friday, Brainstorm–our permanent, unincentivized testnet this upcoming Monday, attending Dcentral and Consensus in Austin, Texas, Polkadot Decoded at the end of June, and InvArch Eduseries 5 is finally out for all of you to digest and enjoy!
Thank you for tuning in, and we’ll see you next week!