invArch Utility Token ($VARCH)
Overview of InvArch:
InvArch is an intellectual property & decentralized development network for web 3.0. The network’s purpose is to provide an environment where users can secure their ideas and then form partnerships with other users on the network in order to actualize their ideas and bring them to life.
Also coming with the security of intellectual asset is the monitizing or say placing of financial value on your idea.
InvArch-Digitalizing and Monetizing Intellectual Prowess
The above link is about an article that explains the invArch protocol and how you can secure your intellectual asset.
INTRODUCTION
InvArch further confirms its incredible value by many successful and relatable use cases, and it also possesses a native token $VARCH, this also goes on to back up and glory this use cases.
Tokens can’t possess functionalities without being solution and goal oriented. invArch released it native token to serve as a medium of reward and compensation for intellectual assets, what this means is that transactions done within and between parties in the invArch ecosystem has to be done using its native tokens for the sake of transparency, and equity.
This further reiterate the focus of the project which is fixed on rewarding and protecting your intellectual assets, hence the need for this article because I believe a proper knowledge of the tokenomics and utilities of a projects native token is important for better adoption by interested individuals.
Utilities
Just like I have mentioned earlier in the introduction the native token of any project is the financial strength of such project and it goes a long route to prove the viability of the project, same applies to $VARCH. Hence the need to x-ray its Utilities within the ecosystem;
- Payment of transaction fees: As customary a fee is paid to validate transactions on the blockchain, for invArch the transactions fees will be charged using $VARCH which proves to be amongst the cheapest you can find on the blockchain expressly considering the people oriented status of the project and the need to create an ecosystem where everyone can function
- On-Chain Governance: In any community your ability to have a voice and decision stands supreme and is highly valued by all and in the invArch it is sacramental and held in high esteem which is why the right to vote on the Governance of the project is guaranteed if and only if you have in your possession at least a piece of the native token.
- Minting intellectual property sets: Like I had mention in my previous articles, to fully monetize your IP the is a need for a medium of evaluation which is where $VARCH is most relevant and serves the purpose with so much efficiency and accuracy to guarantee the smooth transition of your intellectual properties into valuable assets.
- formation of decentralized ventures: for this to happen $VARCH has to be in the presence for the process of forming decentralized venture on the invArch platform.
note; the utilities of the $VARCH is not limited to the four it is endless provided invArch is concerned.
Tokenomics
A total of 1billion VARCH is fixed to be minted. With a targeted annual inflation rate of 5%. As would be required, VARCH has an uncapped token supply. The purpose of inflation within the InvArch network is to pay for the continuing need to incentivize security. The primary security budget is to pay for a parachain slot on an ongoing basis and to incentivize. of this 1billion it is shared to meet different needs and functions which is capped at 11 spending group which will be discussed in brief on this article;
- Seed Funding: this takes up about 10%(100,000,000): This category is tied to a 24-month vesting schedule with a 3-month cliff and equal vesting in months 4–24.
- Strategic funding: 5% (50,000,000 VARCH): This category is tied to a 12-month vesting schedule with a 2-month cliff and equal vesting in months 3–12.
- Parachain bond fundraising: 20% (200,000,000 VARCH): The category is mapped out to handle and take care of payment for the Polkadot (DOT) tokens required for the InvArch parachain slot in years 1–6. These payments may take the form of interest payments to borrow DOT for the required parachain bond or rewards for crowd loan participants. These funds will act as a backstop to ensure that our parachain slot is funded for years 1–6. Unused funds can be used for other InvArch protocol adoption initiatives.
- Ecosystem & community growth: Funds allocated towards ambassador programs and other community initiatives.
- Parachain bond reserve: 0.5% (5,000,000 VARCH): Tokens for parachain bond purposes. Part of the inflation supply goes into this fund and the idea is ultimately for this reserve to hold enough DOT to secure a parachain slot in perpetuity.
- protocol development: 10% (100,000,000 VARCH): Tokens to be used by the InvArch network for protocol development and other programs.
- treasury: 5.5% (55,000,000 VARCH)
- liquidity programs: 5% (50,000,000 VARCH):Tokens for liquidity programs to incentivize growth and adoption on InvArch. This allocation will help accelerate activity in the InvArch ecosystem.
- developer incentive: 4.5% (45,000,000 VARCH): Funds to be used as incentives for developers and projects that are early InvArch adopters. Subject to vesting (2-year monthly linear vest). Unused tokens can be allocated to other community initiatives.
- partners and team: 19% (190,000,000 VARCH): Founders, InvArch team members, and Partners. Subject to a 4-year vesting schedule from network launch with a 1-year cliff and monthly vesting thereafter.
- team growth: 5% (50,000,000 VARCH): Future employee token incentive pool. Future issues from this pool will be subject to a 4-year vesting schedule from the network launch or grant date (whichever is later) with a 1-year cliff and monthly vesting thereafter.
Keep an eye on the project as more is yet to be unveiled meanwhile you should go through the whitepaper on the website to understand the project better.
Website:
