The Tinkernet Crowdloan: Community-Driven Tinkernomics.
The Tinkernet Parachain is the canary network of the InvArch Network, designed as the IP Asset & accelerated development staging grounds for the Kusama ecosystem. The Tinkernet serves a trio of testing purposes, one for the developers who maintain the network, one for the developers who build on top of the network, and one for the end-users of dApps & applications in the ecosystem.
The InvArch team & its aspiring developers can test changes on the Tinkernet through forkless runtime upgrades before any possibility of deploying them directly on the InvArch Parachain. This way, Kusama can provide an experimental proving ground & a “first-to-market” experience that helps reinforce the security & “best-to-market” environment found on the Polkadot Network. This also allows for the Tinkernet to act as a proving ground to the broader community before seeking a full launch on the InvArch Network Parachain.
- To start, the Tinkernet will showcase the INV4 protocol (IP Sets, IP Files, IP Licenses, & IP Tokens), & INV4-Git on Kusama. IP Assets are the files, folders, and licenses of web2 fused with the non-fungible & fungible token technologies of web3. INV4-Git is a tool that’s used to manage versions of IP Sets & File edits that are then transferred to Root IP Sets on the InvArch blockchain
- Individuals will be able to stake their IP assets & in the process unlock the possibilities of the On-Chain Innovation Funding (OCIF) protocol. IP Staking, IP Farming, & IP Donations, are all integrated into the Tinkernet staking protocol and allow users to seek startup funds to kickstart their IP & get building.
- Eventually, the Cross-Chain Authentication (XCA) protocol will provide the first trustless method for verifying the authenticity & uniqueness of NFT metadata & files across all of Web3. In order to encourage open-source development while still protecting IP, InvArch realizes piracy-proof assets today for a plagiarism-impossible internet tomorrow.
The InvArch team hopes to bring attention to the Tinkernet & inspire developers with the exciting & unrealized possibilities that it will bring to Kusama. Additionally, the team wants to provide an attractive experience for all future $KSM contributors who support Tinkernet’s crowdloan campaign.
The Tinkernet Parachain could seek a slot on Kusama as early as the 39th auction (June 7–14th). The team is preparing to launch the InvArch Brainstorm Testnet (an unincentivized solo chain) this Monday, May 23rd. However, the team will also be interested in hearing constructive opinions & community preferences that they have regarding the Tinkernomics you’re about to read below. Keeping these two factors in mind, the Kusama community can anticipate a firm response in approximately a week’s time.
Alright, let’s get down to it! Say hello️ ️to ⚙ $TNKR & Tinkernomics 📊
At the start, the tokenomics are left in a dismal state; however, as more individuals contribute $KSM to the Tinkernet’s parachain bid, the rewards get increasingly better in their favor. The total $TNKR rewards increase in multiple ways. On one hand, as more individuals contribute $KSM & the Tinkernet reaches closer to its hard cap, more $TNKR tokens end up being directed from the Tinkerchest (network treasury) to the total crowdloan rewards.
However, as the number of circulating tokens increases, the value per token tends to fall in price, almost (if not) balancing out. So the team thought, “how can we avoid a scenario where individuals want to contribute toward a parachain, but at a bare minimum & with the fewest others possible? How do we stop them from losing value as more individuals contribute?”
The team’s proposal is to instead divert funds that would have otherwise been intended for the InvArch network, and future team members, & even cut down on the percentage of $TNKR that private support would receive? This way, as the network increases its value proposition through community support, any influence that private funds could decrease & works towards the community.
Taking it further, the funds that are derived this way by the community are contributed toward an “Inducement Bonus” fund.
Typically, community members & crowdloan participants find themselves in situations where they want Parachain X to raise the most, more than Parachain Y, but just enough and no more! The reason for this is because individuals typically enter into a crowdloan experiencing higher reward forecasts as the total number of contributed $KSM is lower. As more individuals contribute, a preset allocation of Z tokens split into even more fractions.
Instead of providing that type of experience full of ironic emotions, the InvArch Tinkernet will allocate the “Inducement Bonus” fund depending on an individual's total ‘SIPA’ weight. The total number of SIPA weights that an individual receives depends on how much $KSM they contribute, during which period(s) of the crowdloan they contribute, and by overcoming hard cap thresholds (10%, 30%, 60%, 100%). Earlier contributions are increasingly rewarded, which can be compounded by a supporter's amount of KSM provided, and yet, as more people continue to participate, it continues to get more rewarding for the community.
Community Feedback Is Welcomed!
If you believe you have some useful feedback or considerations to share with the team, or if the community has a strong opinion on the proposed Tinkernomics, then we invite you to let your voice be heard!
Join the InvArch Discord community today to get involved, we’ll be setting up a new server channel specifically to allow the community to discuss things in an open forum discussion for a few days.
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We’re excited to provide this model to everyone; and while it is experimental, we believe that it has the potential to be implemented by other parachains in the future, & possibly even innovated further! Regardless, we hope that this incentivizes greater participation & involvement in the crowdloan process. Worse case, it’ll be chaos. 🐦
Hang tight everyone, it’s almost ⚙️#TinkerTime💡
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