InvArch Weekly Wednesday: April 6th, 2022
Hello to all InvArchitects out there! It is finally April; we very recently started Q2 and we are back and are excited to present the first InvArch Weekly Wednesday of the month. Lots of progress is being made for both the technical and community aspects of the project, including laying the groundwork for partnerships and thus wheels are in motion! Let's jump right into it!
InvArch Tinkernet We finished off last week with the ending of the initial run of our testnet, the InvArch Tinkernet. The duration of the testnet was from March 25th to April 1st (*not an April Fool's joke). But not worry, the testnet will return reasonably soon! We recognize that to some, the initial run of the testnet was deployed for a short time Reason being is that there were a few things we wanted to test out to move forward with the technological development of the project but to also prevent any further headaches for the technical team down the road. We saw some fantastic things created on InvArch Tinkernet–this was great because the expectation was for participants a.k.a "Tinkerers" to go nuts, and that happened!
We had an individual realize the creation of a website that is fully composable and purely made out of IP Files and an IP Set. This is substantial because in a parallel view–someone is able to build websites out of nothing and NFTs.
Why a fully composable IPF/IP Set-based website is powerful: It allows for the availability of native kits, tools, functionality (for DAOs) to have "decentrally"-owned websites that are composed and managed using a MultiSig functionality through the bases of it being IP Sets and IP Files The ability to display specified, different IP Files based on individuals' different tokens, their holdings, different experiences from the UI / of a website that is based on different tokens
Moreover, this furthers the vision of fully, truly composable non-fungible assets (similar to how files and folders operate on your desktop computer or how folders work on GitHub). As such, having this one week of our testnet run gave us a glimpse of the new level/potential of innovation and the new wave of possibilities that InvArch brings to the forefront.
InvArch Technology (cont.)
What the project has been working on and seeing it in action via the InvArch Tinkernet is very rewarding. Indeed in the current day, we are merely providing the vessel for IP assets for non-fungible assets, for one day to have smart contracts to be fired off as Smart IP (tokenized and authenticated). It's going to be a fantastic system; once InvArch technology is brought to the surface and apps and dApps start to get built on top of the network, that's when we will see some special applications that will be innovative and refreshing not just the world of Web3, but the entire world.
InvArch Eduseries Following the closing of the InvArch Tinkernet, InvArch Eduseries 4: The SIPA Revolution & A New Golden Age For Innovation was published on the same day!
SIPAnomics was introduced not just to our immediate community but also to the rest of the Polkadot ecosystem and Web3. The article begins with exploring Pallet IPT 2.0 and Sub-Assets and realizing the potential of Multi-Tiered Assets, including the RFTs or Refungible Tokens–where you have a fungible asset owning a non-fungible token, thus making the NFT fungible again; and finishes off with a massive bang a.k.a SIPA. SIPA stands for "Scalable Incentivized Proof of Attendance'' and is introduced as a new, fair, and trustless economic system. With the composing of this 4th edition of the InvArch Eduseries and thus the unveiling of SIPA, it was essential to emphasize the many flaws of today's economic systems that many of our readers will find relatable. This article shows how SIPAnomics & protocols can bring more substantial resolution to such flaws. Furthermore, the article also covers 3 SIPA protocol examples in the form of SIPA equations, where each is further explained (Note: these three examples are just the few of the near-endless possibilities with SIPA).
From there, the article dives in further with Acala's aUSD (the Acala USD stable coin) in the InvArch ecosystem, whereas the number of projects utilizing SIPAnomics grows, the aUSD economy does so as well. Projects will be able to collateralize their IPTs (IP Tokens, backed by $VARCH) and earn interest on such assets while also leveraging them to mint aUSD. All in all, aUSD has great potential to become the "indisputable stablecoin of the Polkadot ecosystem," providing the most formidable DeFi services to developers and making a consistent medium of exchange available for all Web3 constituents.
The next InvArch Edusries (5th edition) will go into the future of decentralized funding for IP, dApps, and start-ups; InvArch is breaking down the financial barriers of entry and reinventing the way Web3 advances new and impressive innovations.
Dakota: "I would like to give a huge thank you to Jay Chrawnna, a.k.a The Kusamarian, and @GldnCalf on Twitter. He truly is a legend within the Dotsama ecosystem; I have a lot of admiration for Jay, and he was kind enough to invite me on his show Space Monkeys, where we talked about and explored the space of IP (intellectual property) and also went into the project, the background and how it became what it is today. I encourage you to check out Jay Chrawnna; he is the go-to Dotsama Legend for all Polkadot ecosystem information, news, relevant project information, and more!"
Polkadot Decoded Fantastic news! - InvArch/Dakota is listed as a talk to be voted for, for the upcoming Polkadot Decoded conference that will take place this year from June 29th to June 30th!
So far, we have made the shortlist! But nonetheless, it would be a great honor and privilege to have Dakota share his presentation, XCM: The Future of an Authenticated Internet, at the biggest Polkadot event of the year! So if you have not already, please submit your vote, and you can also get your friends and family to vote as well, the more, the merrier! (Also an opportunity to introduce them to Web3 and to a great project).
*There is also a tutorial video (link below), made by our Social Media Manager, showing how to submit your vote via desktop/laptop computer.
On a final note: as a team, as a project, we genuinely commit to bridging the (knowledge) gap by introducing InvArch technologies–what they do, how they work, and allow developers around the world to realize better just how significant this all is.
We hope you enjoyed this first Weekly Wednesday of the quarter, and we will see you next week!