Watch the InvArch Weekly Wednesday update on YouTube:
Greetings to all our InvArchitects and all of Dotsama & Web3! As we come to a close of this month of May with today’s Weekly Wednesday, there is a lot to talk about, and thus excited to share it with you.
Check out the newly updated Website!
A huge thank you to our UI/UX Designer, Yaroslav, for always delivering when it comes to not only our InvArch branding–from announcement poster designs to logos and graphics, but especially in regards to our website!
We invite everyone to go to — https://invarch.network/tinkernet! This is the website for our canary network, Tinkernet. Here you can get a better understanding of our Kusama (soon-to-be) Parachain, its larger vision of it, and how it will be revolutionary in the Kusama ecosystem.
#Brainstorm Testnet has launched!
A couple of days ago (Monday, May 23rd, 2022) we officially launched our testnet called Brainstorm. This is a permanent and unincentivized testnet and is anyone’s sandbox to experiment with InvArch technology where everything happens in a no-consequences environment.
With the launch of the Brainstorm testnet, we have also provided a video guide, created by our very own Co-Founder and Head of Technology Development, Gabe:
and an article as well via our InvArch Medium blog:
The InvArch ‘Brainstorm’ Testnet Has Launched!
Today we have deployed our solo-chain testnet, Brainstorm!
In addition, either today or tomorrow, we will be releasing information on holding an InvArch Brainstorm workshop! This workshop is for all participants, who are interested in participating in the Brainstorm testnet, to dive in with the InvArch tech team on how to use the testnet. In this workshop, we are anticipating on setting up participants independently or working together in teams, but most importantly will focus on live, hands-on guidance and community building.
The Tinkernet Crowdloan: Community-Driven Tinkernomics
On Friday, May 20th, 2022, we released the Tinkernet Crowdloan structure via a published InvArch Medium article.
Now you might be wondering, “Why come up with a new crowdloan structure?”
The InvArch team thought that it would be best to prevent the possible situation where crowdloan participants (of a project) feel the motivation to win a parachain slot, but barely.
With our new crowdloan structure, what we aim to achieve is to have all crowdloan participants feel not just excited to support a project (i.e., the InvArch Tinkernet) running for a slot on Kusama or Polkadot, but to truly be aware that the more individuals contribute, the more rewards a.k.a bonuses are given.
Some highlights of the Tinker Crowdloan & Inducement Bonus:
- The more contributions of $KSM + the closer Tinkernet is to reaching its hard cap, the more $TNKR tokens are allocated to the network treasury (a.k.a Tinkerchest) to the total crowdloan rewards
- Ecosystem support-token allocation stays consistent throughout the process
- As the $KSM contributions increase, the token allocation for Ambassador incentives increases (from 2% to 4%) which is a way for the project to show our utmost thanks & gratitude to our Ambassadors for their hard work!
- With the Inducement Bonus, rewards are modeled as ‘weights’ and contributors are categorized into cohorts
- For all of those who participate in the crowdloan process early on (we can refer to this as the “0–2.5k $KSM” cohort) the more rewards are allocated to such early contributors
- The following cohorts–”2.5k to 7.5k $KSM,” “7.5k to 15k $KSM,” and “15k to 25k $KSM” also receive an inducement bonus, respectively, and their bonuses increase as the Tinker Parachain reaches its hard (max) cap
- The weight is multiplied by the amount of $KSM that is contributed, and it scales with the amount that is contributed, not just according to the time of support
*To learn more about the Tinker Crowdloan Structure and Inducement Bonus, please check out the official article on this and this Weekly Wednesday video where InvArch’s Founder & Head of Business Development, Dakota, goes into more detail about how the Tinker Crowdloan and Inducement bonus works
In essence, the significance of the Tinker Crowdloan structure and Inducement Bonus is as the more individuals are contributing (in $KSM), the more funds are being allocated to rewards at scale.
InvArch + RMRK Partnership Announcement
We are very excited to announce that InvArch has partnered with RMRK!
This past Sunday, May 22, 2022, we shared our partnership announcement with Dotsama and the rest of the world. RMRK is an incredible project with incredibly powerful technology. It lays the foundation for the future of composability for non-fungible assets. To bring this foundation in and infuse it with the power of the INV4 protocol for IP Assets, this unlocks the potential of unlimited composability, for any instance, you can think of regardless of how abstract it is.
What we’re also looking forward to is having RMRK assets be the IP Files of Web3 by replacing the current implementation of IP Files in our INV4 protocols; when we release the INV4 Git middleware is where we’ll be able to use such assets as well. There are, of course, more plans in the pipeline, including as we move forward with our XCA (Cross-chain authentication) protocol and not only making assets piracy-proof today, but piracy/plagiarism impossible tomorrow.
We would also like to highlight Bruno Škvorc, the Founder of RMRK, who is a fantastic individual with a whole lot of drive, creativity, and determination, who remains pure to the mission of building important, practical, and ultimately bleeding-edge technology that pushes the Web3 mission further. InvArch is truly grateful for RMRK’s support and for making this partnership possible!
To learn more about our partnership with RMRK, please check out the official partnership announcement in our Medium blog here: https://invarch.medium.com/invarch-network-rmrk-partner-to-revolutionize-the-future-of-nfts-intellectual-property-2f3bd1d05649
Vote to Influence Tinkernet’s $TNKR Token Supply!
A few days ago, Dakota tweeted a Twitter Poll through his Twitter account (@XCAstronaut) that asked the community to vote on whether the Dotsama community should vote and determine the total $TNKR supply. As a result, 71.2% of individuals voted for the option “Community should decide” and 28.8% of individuals voted for the option “Dev team should decide,” (Link to this poll:
Now that has been settled, a new poll has been made!
Tweeted by the @TinkerParachain Twitter account, the entire Dotsama community now has the opportunity to vote on how much the total supply of $TNKR should be.
Only two days left to vote! Here’s the link to the poll:
In review, we invite everyone to check out the new Tinkernet website, keep your eyes peeled for an announcement regarding the Brainstorm testnet workshop, get familiarized with the Tinkeromics and crowdloan structure, digest our partnership announcement with RMRK, and submit your vote to determine the total supply of $TNKR tokens!
Have a great rest of your week, and we’ll see you on the first day of June!