On July 02, PolkaWarriors had an interesting community AMA session with Dakota Barnett - Founder of InvArch/Tinkernet Network, and during the event, lots of information was shared
If you missed it, don’t worry, we have prepared the recap for you.
“The Tinkernet parachain is the IP asset & excellerated development hub of the Kusama network. Tinkernet is a novel blockchain featuring powerful on-chain licensing agreements which can be as simple as an open-source code license or as complex as a multi-layer governance body over the development of an asset.
Tinkernet features NFTs as DAOs, and can experience an array of multiple groups & on-chain roles + admin rights customization. The Tinkernet is also the place where ideas will be able to get kickstarted, allowing individuals to gain access to financial resources even if they have $0 to get started with.
The Tinkernet is the starting point for all future innovations & decentralized organizations throughout Web3!”
Twitter Question
1. Can you tell us the motivation and benefits for investors to hold $VARCH in the long term? What plans do you have to help drive demand and scarcity for the token?
Dakota:
The $VARCH token is more than just an investment. It’s the required currency for network fees accrued through applications built using the protocol, it is a representation of voting weight over the protocol’s governance, it is used for minting & authenticating Intellectual Property Files (IPFs), and is used not just for collator staking, but also for a funding mechanism that we call IP Staking. InvArch introduces very new technologies and therefore has the potential to introduce a large & robust ecosystem of entirely new dApps. Couple this together, all of the formerly mentioned utilities plus the ecosystem potential, in addition to a finite supply of 1 billion tokens. This high demand and a capped supply forecast a natural deflationary future.
2. Can you list killer features of InvArch that make it ahead of its competitors? What is the competitive advantage your platform has that you feel most confident about?
Dakota:
InvArch actually introduces many new features to Web3, and in many ways has no true competition at this moment in time. InvArch is the first blockchain to introduce truly composable & authenticated NFTS, which we call Intellectual Property Files, or IPFs. These files can be literally anything. JPEGs, XML, Sound files, code, even smart contracts. InvArch is the first to introduce interchangeable collections of IPFs that we call IP Sets, meaning that a file can belong to one set at one moment, and if needed, belong to an entirely different set, or have a wrapped version of an IPF present in a separate IP Set. Pegged to every IP Set are fungible and completely programmable IP Tokens. We’re introducing all of this technology at the protocol level, which means developers have the complete freedom to determine the use cases of these tokens. They can represent fractional ownership, streamlined royalty allocations, governance weight over a project, access rights to IPFs found within an IP Set, and so much more, things we haven’t even realized yet. We’re talking about the ability to not just authenticate the originality of files across Web3 using the InvArch IP Pallet Modules, but the fractional ownership of literally anything, even nodes. We introduce two funding mechanisms for something we call ‘IP Staking.’ One method has $VARCH stakers vote on how rewards, which come from a portion of network fees, should be allocated to approved IP Sets. Another method allows users to divert some or all of their staking rewards to an IP Set in return for a yield of that IP Set’s IP Tokens. This provides a bedrock for not just providing income to developers & all participants of the creative/development process but also allows a way for projects to establish liquidity for themselves. The list of killer features is, and I’m happy to say this, very exhaustive. It’s hard to pick any one thing that brings me the most confidence. I’m bullish on all of it!
3. How can the community contribute to the progress of InvArch? Do you have a Governance model? Is there an ambassador or bug bounty or contest we can assist in so as to enable further adoption?
Dakota:
Currently our main focus regarding the community is on the InvArch Ambassador Program. We currently have nearly 700 Ambassadors at this current moment, and we’re looking to add at least another 300 Ambassadors over the course of the immediate future. Anyone can learn more or apply to join by heading over to invarch.io/community. Things such as bounties and challenges are being discussed, and are expected to be phased into the Ambassador program over the course of the upcoming days and weeks. A broad & detailed overview of the protocol’s governance model will be shared in the upcoming & revamped version of the InvArch whitepaper.
4. How can users stay updated with this project? Are there channels, including local communities where users can get the latest updates?
Dakota:
We prioritize communicating with our community a great deal, both through regular small-talk & tech-chats through our community Discord, Keeping everyone in the loop over our Twitter account, and even by posting regular & weekly community updates over Medium & soon to be SubSocial. Anyone interested in joining our Discord community can check us out by going to discord.gg/invarch. You can find us on Twitter as @ InvArchNetwork, our Discord link is in our bio as well. Our Medium is invarch.medium.com, and InvArch on SubSocial, or app.subsocial.network/5857. We’re also on LinkedIn, Telegram (https://t.me/InvArch), YoutTube, and getting ready to formally launch a Reddit as well.
5. Could you explain why an NFT ecosystem has been developed in Substrate? why prefer it rather than being directly developed on the main Eth, polygon, or Bsc network?
Dakota:
This is pretty straightforward to answer, although it’s important to note that InvArch is so much deeper than an NFT platform. Very much deeper. What Polkadot is to other Parachains is what InvArch is to NFTs. InvArch allows for the authentication of any file, even other NFTs on other integrated chains. Interoperability, XCM, or Cross-Chain Messages, are the key features of the Polkadot relay. These are features that InvArch will be highlighting, by showcasing the significance of this technology through the designs of our own, by verifying IP across Parachains. This is also precisely why we’re not being built as an L2 project on another L1 protocol such as Binance, and especially Ethereum. While we can bridge to them, they lack a native infrastructure that features cross-chain interoperability. Not to mention gas fees on Ethereum are the antithesis of financial inclusion and access.
6. Brief the core background history that birthed InvArch? In what ways are InvArch incentivizing users in the ecosystem?
Dakota:
The first concept of InvArch came about over 4 years ago, and the project has evolved in tandem with blockchain technology, and specifically the Polkadot tech stack. While the first concept was focused on protecting ideas, or intellectual property, and providing utility toward them as digital assets, it’s important to note that since having a full team focused on the project that it has evolved into so much more. As a team, we’ve taken InvArch, what it is, and what it can be, to entirely new heights and have pushed the bounds of the protocol beyond what anyone initially thought to be possible. InvArch quite possibly provides a foundation for what will become THE development protocol of tomorrow. It incentivizes developers directly through our IP staking mechanism, but also content creators of all varieties. It provides security through authentication. It makes things such as incentivized open-source code a pragmatic reality for the future. Fractional ownership over all things, lowering the barrier to entry. InvArch doesn’t just incentivize its users, it empowers users in nearly every sense of the word.
7. For any crypto project, 1% of its success comes from the idea itself. 99% comes down to execution. I have seen many projects fail due to the lack of skillset & understanding of how the crypto sphere works. Does InvArch have a qualified team to reach all your goals?
Dakota:
Mind you that we try our best to remain humble and avoid any sense of arrogance; however, InvArch is surrounded by a team of proven winners. Tried & true in their roles, the team is pretty amazing. Personally, I’ve worked in both politics & the private sector both at the executive level. In the private sector, I helped to scale an e-commerce company in the face of 10x customer volume within a 3-month span, securing millions of dollars in revenue for the company & leading an international & remote team within a department I designed from the ground up. Gabriel is also a Sr. Rust Engineer for Polkadex, another ecosystem project, and a very impressive one at that. He leads development on some amazing tech and brings firsthand experience developing around the Polkadot tech stack. Kresna Sucandra, our other co-founder and Lead Substrate Developer is quite possibly the most humble and expertly informed developer I’ve known. He got the jump on learning Substrate early, nearly 2 years ago, and is a massive factor behind InvArch fulfilling a Web3 Foundation Grant for the development of 3 custom Substrate Pallets, centered around IP Tokenization & utility, in just 1 month’s time. Our final Co-founder and Head of Marketing, Mindaugas Savickas, is a priceless asset to the project. In his previous roles, he’s successfully led multiple teams, projects, and raised over $12m in funds for those he worked for & with. As far as financial performance goes, Mindaugas is as sharp and impressive as they come. Stack this with our rockstar team working on the project, and our Advisors - with notable figures such as Bruno Skvorc (RMRK, Web3 Foundation), Sonja Prstec (NEAR, Web3 Foundation), & Marvin Tong (Phala Network, Phala World) helping to guide the project.
I’m very thankful, and impressed by everyone around me that is involved in bringing InvArch to life. When it comes to the technology that we're working with and building, I'm confident that there isn't a hurdle we can't overcome
8. InvArch allows people to tokenize their intellectual property by minting their files as Intellectual Property Files (IPFs). What are the similarities and differences between IPFs and NFTs?
Dakota:
At the surface level, not much. We’re not trying to reinvent the wheel when it comes to NFTs; however, we are looking to make them so much more than what they’ve more or less been used for today. The most immediate difference is that IPFs & their originality are authenticated via a cross-chain validation protocol that InvArch introduces to Polkadot. This cross-chain cross-referencing mechanism isn’t like anything seen on any other NFT platform today. It’s also important to note that we’re not looking to replace other NFT platforms. One day RMRK NFTs could hypothetically be minted as IPFs using InvArch or our IP Pallet Modules on another Parachain. In that case, then RMRK NFT creators would have security within the ecosystem from other content creators essentially copying their work, whether that be as a JPEG or as a piece of in-game content in the metaverse. IPFs can be any file type, even code & smart contracts. When you go beyond this, another big difference is that the IP Set, or collection, that an IPF belongs to is possible to be interchangeable, meaning that it can be transferred and applied to other IP Sets freely. For developers, this is incredibly powerful and streamlines composable, interoperable, and cross-utility application use-cases.
In the live questions section, Dakota did answer several short questions from the PolkaWarriors community.
1. Are you planning to promote your project in countries / regions where English is not good? Do you have a local community for them to better understand your project??
Dakota:
Absolutely! While I am physically located in the United States & speak English, nearly the entire rest of the team is from all around the globe. Our partners & early backers are as well, and we are already working on efforts to bridge educational gaps & break through language barriers!
2. Too many projects promise magic but never release any working product or prove any revenue, Within a short/long time of release. Is your project also like this? If not can u tell us, What makes your project different from other projects?
Dakota:
We deliver & continuously show up. From a Web3 Foundation Grant, to the Substrate Builders Program, to recently being a main speaker at Polkadot Decoded, & even the upcoming launch of the Tinkernet on Kusama. Our passion, excitement, & determination is relentless.
3. Where can I get all the latest news about ? Do you have a Twitter/Telegram/Discord community? If yes can you share the link here because there are a lot of fake telegram/twitter groups?
Dakota:
We have socials all along the bottom of our website, which you can find at https://invarch.network/ They include our Discord, Telegram, Twitter, Medium, & more!
Our Medium is great, we have updates every Weekend that we provide to the community!
4. Most users are still not aware of Blockchain & its related projects ! So, How Your Project platform creates awareness about their project with NON-CRYPTO users too?
Dakota:
InvArch is a network & one day amazing dApps & applications will flourish across the network. These services will provide powerful tools for everyday lives beyond just finance. InvArch has a potential market reach towards nearly every human being, not just those who are interested in DeFi or NFTs. By empowering everyday individuals, & providing regular updates, we will bridge current gaps seen today.
5. Is your project a community only for English speaking countries or for users not of other languages?
Dakota:
InvArch is for EVERYONE. We have a multicultural & diverse community consisting of thousands of people all around the world. Our Discord (https://discord.gg/invarch) is proof of this. Anyone can apply to join our Ambassador program here: https://docs.google.com/forms/d/1nWpmgxZnjdt3ZPfnfrusSB3yfvRhybRGcWdCtxQcw9E/edit
6. Do you have Whitepaper? If yes, please share it with me as secondly do you have plans for pre-sale? Now where can we Join it?
Dakota:
You can find the white paper here: https://invarch.network/doc/index (available in 3 languages on our website)
Regarding a presale, we don't have such a schedule, but we are currently holding our crowdloan on Kusama for the Tinkernet & $TNKR (https://invarch.network/tinkernet).
Community sales will come later & are designed to truly thank our early supporters.
7. Can you list 1-3 killer features of this project that makes it ahead of its competitors? What is the competitive advantage your project has that you feel most confident about?
Dakota:
It's 3 major protocols, easy.
INV4: The most composable & powerful assets in all of Web3. Seriously, I don't mean to sound over-confident, but we are very proud of the work achieved here. Multi-class fungible tokens, SIPA protocols, on-chain licenses & smart agreements. It's really powerful!
OCIF: On-Chain Innovation Funding = IP Staking, IP Farming, & (on-chain) IP Donations. Three channels to provide funding nearly every way possible.
XCA: Plagiarism-proof assets. The first of its kind & most powerful protection protocol every conceptualized that can unleash a new future of open-source development.
I hate to drop it again, but seriously, check out my talk on XCA if you have the time. It dives into what I'm talking about above: https://www.youtube.com/watch?v=RXDbaEXJYmY
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