What you Need To Know About InvArch
InvArch is an IP management protocol designed for the Polkadot ecosystem. InvArch is also known for turning Ideas into digital assets. InvArch is a next-generation blockchain built using Substrate for intellectual property tokenization, development, & networking. The InvArch protocol will provide an IP utility architecture to the Polkadot ecosystem, and allow developers to create IP-based dApps for networking, education, DeFi, and more.
In addition, invArch may be compared to a hybrid between a professional networking platform and a this varies with an intellectual property authenticator. other than individuals leveraging skills and employers offering a salary in a job application, users can leverage their skills and offer value in a venture opportunity.
The $VARCH token
The InvArch blockchain built around the $VARCH token. The VARCH token is the native token of the InvArch network. It is required for many necessary functions on the chain such as paying gas fees, participating in on-chain governance, minting intellectual property sets, and forming decentralized ventures, among many others. The token has a good distribution model allocating 5% to team growth, 7% to seed funding, 10% to strategic round, 20% to parachain bonding, 0.5% to bond reserve, 15.5% to ecosystem growth, 10% to protocol management, 5.5% to treasury, 5% to liquidity programs, 4.5% to developer incentive and 19% for power and teams.
In addition, the $VARCH token holders are allowed to participate in the governance of the protocol and help in making good decisions that affect the future of the entire ecosystem. And also, $VARCH can be staked to earn rewards.
InvArch Intellectual Property Tokens
Nonfungible tokens, or NFTs, are digital records of the ownership of assets. Intellectual property assets and, specifically, the ownership and transfer of ownership of patents may also be recorded and transferred as NFTs. IP Tokens can be documents, images, videos, diagrams, or any other file one would use to portray an idea. stored as NFTs.
As with any new application, clients involved in non-fungible tokens and blockchain technology, including companies, creators, and artists, should seek legal counsel to ensure their intellectual property rights are preserved and properly enforced. InvArch assists in identifying protectable content and subject matter, recommending best practices and proper safeguards to protect works from improper exploitation.
In addition, To mint an intellectual property token, a user will provide various predetermined data fields. When you upload an idea or file, a canonical version is mapped to the token that lives on the blockchain and it can’t be touched or altered.
InvArch Intellectual property Ownership
Ownership of intellectual property can be owned by one entity, typically the creator, in the form of Sole Ownership. One or more creators can also own ownership of intellectual property through Joint Ownership. Instead, “intellectual property” is the ownership interest that a person or entity may have in creations of the human mind. Ownership of intellectual property means ownership of a concept or idea rather than ownership of a parcel of property or object.
A finite and preset number of fungible IPOs may be assigned to a single intellectual property set. The value of a single IPO will be determined by the total amount of the network’s native currency bonded to the IP Set, divided by the total number of IPO tokens
InvArch Advantages Building on Polkadot
- Parity Technologies’ Substrate modular framework offers developers the flexibility to select specific components that best suit their application-specific chain.
• Polkadot allows developers to launch chains and applications leveraging a shared security model, without having to worry about attracting enough miners or validators to secure their own chains.
• Polkadot’s parachains can use bridges to connect with external networks like Bitcoin and Ethereum.