The InvArch Network team is excited to launch #TheFutureIsDAO, an InvArch Network event spanning across the InvArch Tinkernet on Kusama & the InvArch Network on Polkadot — featuring 15,000,000 VARCH tokens in rewards!
This 4-week incentivized campaign, which officially kicks off today (January 8th), will take users across the InvArch ecosystem, introduce (and reintroduce) them to DAO Staking, track their activity across chains, and reward participants for their participation over the course of the event.
Users will be able to earn points based on a multitude of factors that will be used to determine their share of rewards in VARCH. The VARCH token is the native token used to power InvArch, govern its network, and fuel DAOs deployed on the network.
Rewards will be rewarded during two (2) phases over the course of the campaign. The points that individuals earn during the event will determine their share of rewards at the end of each phase. 5,000,000 VARCH will be rewarded through Phase 1 of the event, and 10,000,000 VARCH will be rewarded through Phase 2 of the event!
After each phase, a snapshot will be taken, and users will be able to check their total points and allocation shares, and claim their rewards.
#TheFutureIsDAO — Phase 1 on Tinkernet & Basilisk (January 8th — January 28th)
First, participants will be able to earn points for their activity on the InvArch Tinkernet, in addition to certain actions on Basilisk Finance (the Kusama sister-chain & DEX of the HydraDX parachain & DEX on Polkadot). After 3 weeks, on January 28th, a final snapshot of qualifying user activity across Tinkernet & Basilisk Finance will be taken.
5,000,000 in VARCH rewards will then be distributed across participants on Monday, January 29th.
Qualifying activity:
- Staking TNKR via DAO Staking on Tinkernet.
> 1 point for every 100 TNKR Staked. - Auto-restaking TNKR rewards from DAO Staking on Tinkernet.
> 1 point for every 100 TNKR auto-restaked. - Swapping for TNKR on Basilisk Finance.
> 3 points for every net 100 TNKR*.
> 2 points for every 10 TNKR paid in trading fees. - Providing liquidity to the KSM<>TNKR pool on Basilisk Finance.
> 4 points for every 100 TNKR provided as LP. - Providing liquidity to the TNKR<>BSX pool on Basilisk Finance.
> 4 points for every 100 TNKR provided as LP. - Joining the KSM<>TNKR and/or TNKR<>BSX farms on Basilisk Finance.
> 1 point for every 100 TNKR of LP added to the farm.
*Please note that this will be calculated using the net difference of an account’s TNKR balance between the start & end of the phase. For example: If a user swaps for 1000 TNKR (+1000), and then sells 400 TNKR (-400), they would have a net amount of 600 TNKR, which would earn them 18 points
Additionally, at the end of Phase 1, participants with a staked balance of 1,000–5,000 TNKR will receive a 10% bonus to their final points total, and participants with a staked balance greater than 5,000 TNKR will receive a 20% bonus to their final points total.
Participants will need TNKR (the native token of the InvArch Tinkernet) to participate in the event, which can be acquired on Basilisk Finance by swapping KSM, BSX, USDT, or XRT for TNKR.
Links to the Tinkernet & Basilisk:
Tinkernet: https://www.tinker.network/staking
Basilisk Finance: https://app.basilisk.cloud/pools-and-farms
A New & Improved Tinkernet
In preparation for this campaign, the Tinkernet portal has been completely revamped, and includes cosmetic improvements to the UI in addition to the introduction of new & powerful DAO Staking features!
Users will notice an improved design when they first enter the Tinkernet portal on the Account Overview page.
Using an improved navigation bar on the left-hand side of the dashboard, users can then visit the DAO Staking page and notice a new layout when they first enter the Tinkernet portal.
Found in the top-right corner of the page, a newly added Auto-Restake feature is awaiting users. By enabling this feature, rewards from DAO Staking will be automatically staked upon being claimed, helping users to get the most out of their stake!
Additionally, users can now reallocate & transfer their staked TNKR to different DAOs without needing to unbond their TNKR first.
Improvements to the design of the Vesting Claim & Asset Transfers pages have been made as well. All of these improvements have been made to ensure that the InvArch Tinkernet is primed & ready to go for the campaign!
#TheFutureIsDAO — Phase 2 on InvArch (January 30th — February 6th)
Finally, on January 30th, the final phase & week of the campaign will take place on the InvArch Network, which will consist of the launch of DAO Staking on InvArch using the VARCH network token. This means that in order to participate in the final phase of the event, users will need the VARCH token. The VARCH token distribution event (TDE) recently distributed the VARCH token to over 1,000 supporters of the network.
10,000,000 in VARCH rewards will then be distributed across participants on Wednesday, February 7th.
Qualifying activity:
- Staking VARCH via DAO Staking on InvArch.
- Auto-restaking VARCH rewards from DAO Staking on InvArch.
Additionally, at the end of Phase 2, participants with a staked balance of 10,000-50,000 VARCH will receive a 10% bonus to their final points total, and participants with a final staked balance greater than 50,000 VARCH will receive a 20% bonus to their final points total.
If you did not receive VARCH through the TDE, then the only way to receive VARCH & be able to participate in the final phase of the campaign will be by earning rewards during the first half of the campaign, taking place on Tinkernet & involving the TNKR token.
A link to the InvArch Network portal will be announced on the InvArch Network X account later during the event, and this article will then be updated to include that link.
To catch the latest announcements on InvArch, individuals should follow the InvArch Network & InvArch Tinkernet accounts on X (formerly Twitter), check out the newly updated InvArch website, and don’t forget to hop in the InvArch Discord & join a community of nearly 30,000 members!
— An omnichain account protocol & management network for Web3 —
