After launching a canary network on Kusama, the Invarch team just concluded the OCIF staking testnet. The event was a massive success, with over 9300 participants. InvArch will participate in the parachain auctions on Polkadot in March to secure a parachain slot. Before it does so, Invarch will reward the community for their consistent support with Invarch Access Pass NFTs that bear exclusive rewards.

Before the network fully launches, it will do the following

It’s Grow Time: A community event where Invarch Passes are minted, this pass confers governance abilities on the holder and exclusive rewards like airdop of 2000 VARCH tokens per NFT secured.

Parachain slot : Built with the substrate stack, Invarch intends to leverage the Polkadot shared security by securing a parachain slot,this will also make its assets interoperable across the DOTSAMA ecosystem thanks to XCM technology. 1% of the total supply will be allocated to reward those helping Invarch secure its first parachain slot on Polkadot.

Token Generation Event : Once Invarch secures a parachain, the network will conduct a token generated event.

In this piece, I go over the Community event, the various phases as well as the updated tokenomics of the VARCH token.

Grow Time

The Invarch network started with a grant from the Web3 Foundation before raising seed fund from some top shots like Houbi Ventures, Alves Ventures, Waterdrip Capital, PAKA Capital, Kernel Ventures and the Illusionist Group.

“It’s Grow Time,” is an event for the community to get their hands on the VARCH token.

2% of the entire token supply, which amounts to 20 million VARCH tokens, has been earmarked for this event, and anyone with a Polkadot wallet( Nova wallet, Subwallet, Polkadotjs, Talisman etc.) can participate. The sale will happen in three phases (community, ecosystem and public), selling for ($50, $55, and $60) respectively.

There are a total of 10,000 NFTs up for sale, and each NFT qualifies the holder for an airdrop of 2000 VARCH tokens.

The NFT will be distributed 14 days after the community event. The VARCH tokens will be airdropped 14 days after the Token Generation Event, with 30% unlocked immediately and 70% vested block by block over one year.

All NFT sales will be conducted on the Invarch It’s Grow website

Community Phase

2000 NFTs are allocated to this round, with each going for $50 in $DOT tokens, Any eligible address can buy up to 25 NFT in this phase.

This is not open for everyone but anyone with any of the following can participate :

• YoudleDAO members (those who hold a Youdle NFT)

• past and present InvArch Ambassadors

• InvArch banner NFT holders

• Tinkernet crowdloan participants.

The sale starts from February 13th 4:00pm UTC and will last for 24 hours.

Ecosystem Phase

3000 NFTs are allocated to this round, with each NFT going for $55 in $DOT tokens, Any eligible address can buy up to 50 NFTs.

Users eligible for this phase includes users who :

- participated in the OCIF Staking: Public Testing event

- hold a Kanaria NFT)

- hold a Phala World Spirit NFT

- hold a Kusama King or a Kusama Queen NFT

- hold a BuffChimp NFT or an APE NFT, or a NANA NFT

The sale starts from February 14th 4:00pm UTC and will last for 48 hours.

Public Phase

5000 NFTs are allocated to this round, with each going for $60 in $DOT tokens, and any address can buy up to 100 NFT in this third phase. Any leftover NFT from the community and the ecosystem round will be added to the original 5000 NFTs and made available for sale to the public.

The sale starts from February 16th 4:00pm UTC and will last for 96 hours.

VARCH tokenomics

The total amount of VARCH tokens is 1 billion, The token will be used for various functions such as gas fees, staking, rewards for collators, ecosystem growth fund as well.

Fees: Anytime a DAO legally registers with a real world registrar, they will have to pay fees with $VARCH tokens. Also advanced IP NFTs can be minted by DAOs and individuals alike by paying $VARCH tokens.

Invarch will build a special VM tailored for IP property(a WASM- powered IP virtual machine), it will have the ability to execute contract logic for IP licensing, agreements etc. IPVM will be like Ethereum but tailored for IP. So whenever smart contracts are deployed and interacted with, $VARCH tokens will be used as fees.

Bonding: When you bond $VARCH tokens, you will be able to vote on proposals that carter for the welfare of the Invarch network, also you will be vote on governance matters on the Tinkernet parachain since Invarch exerts pseudo control over the Tinkernet network.

Also for bonding your tokens for network governance, you will receive $TNKR rewards. A DAO can also bond $VARCH tokens and enjoy gasless transactions

Incentives: Network collators will also earn $VARCH for their contribution to the network.

Growth: Efforts that intend to impact the network positively will be granted $VARCH. This includes development (technical and business), community growth and management etc.

Token distribution

The InvArch Association (16%)

A total of 160M tokens have been set aside for the Invarch association, this association consists of the core team and the association.

The core team gets half of the 16% “80M tokens”, the core team will not get any token one year after the token unlock, after that their allocation will be linearly unlocked block by block over the course of 9 years.

Invarch Network was founded by Dakota Barnett with co-founders Mindaugas Savickas, Gabriel Facco de Arruda & Kresna Sucandra.

The invarch association tokens will reserved for future fundraiser events,they will be loaned to Market markers.

After 5 years,any token left will be added to the crowdloan reserves.

Seed Supporters (7%)

The Invarch network has raised funds from top VCs in the crypto space from some top shots like Houbi Ventures,Alves Ventures, Waterdrip Capital, PAKA Capital, Kernel Ventures, Illusionist Group,1PAR Research, ARKN Ventures, Kretos Ventures, Bitrise Capital, TsingTing Capital, GemHive DAO, DeltaHub Capital, ZB Capital, BigCoin Capital, Glock Ventures, TsingTech Ventures, and Gate Labs.

A total of 70M tokens were sold to VCs with tokens locked for 3 months and vested by block over the course of 21 months.

Community Airdrop (2%)

All holders of the Invarch Pass will be airdropped VARCH tokens totalling 20,000,000 tokens.

[First] Polkadot Crowdloan (1%)

Invarch network is preparing to bid for an auction in March 2023 and it has earmarked 1% of the total supply for this event

Crowdloan Reserves (4%)

Polkadot parachain lease expires in 2 years, so any team that wishes to be connected to the Polkadot relay chain and other parachains must renew their parachain slot every 2 years.To compensate for this, the Invarch token have set aside 4% of the tokens for this purpose and also remember any tokens left with the Invarch Association after 5 years will be redirected to the Crowdloan reserve.

Ecosystem Growth (10%)

10%(100,000,000 tokens) will be allocated to Ecosystem growth. 65,000,000 is allocated to reward past and present invarch ambassadors. The remaining 35%(35,000,000 tokens) will be allocated towards regarding various network events and social media marketing.

Governance Incentives (25%)

250,000,000 tokens have been earmarked to reward those who actively participate in the networks onchain governance, these tokens will be linearly vested with decay over the course of 25 years.

Infrastructure Support (35%)

350,000,000 tokens have been set aside for infrastructure support, Here, 35,000,000(10%) will be used to incentivize network collators and the remainder will be the network treasury.

With such a huge war chest, Invarch can fund grants and proposals, increase collator rewards if need be, subsidize network fees etc.

These tokens will also be linearly vested with decay over 25 years.

By securing a parachain slot coupled with tools like Invarch SDK, Cross-chain authentication(XCA protocol), the creator economy can now have protocols for multi party ownership, collaboration and monetization. Invarch unlocks something huge, be part of history makers, so get your $DOT tokens ready and keep the dates, we will be making history together.

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Originally published on Medium by me, i republish my articles on Mirrror for permanence