What is INVI
Tokens
Invitoken ($INVI): Pioneering Liquid Staking and NFT Issuance within the Klaytn Ecosystem
Introduction to Invitoken ($INVI)
In the ever-evolving world of cryptocurrency, new projects are continually emerging to address challenges and enhance existing systems. One such initiative is Invitoken, represented by the symbol $INVI. Positioned within the Klaytn blockchain ecosystem, Invitoken aims to revolutionise how users stake and leverage their cryptocurrency holdings by offering a unique liquid staking solution and facilitating seamless NFT issuance based on DeFi positions. Through its innovative design, Invitoken aspires to enrich the experiences of users involved in staking and trading activities, ensuring maximised rewards and streamlined operations.
What is Invitoken ($INVI)?
At its core, Invitoken serves as a service that empowers users to mint Non-Fungible Tokens (NFTs) based on their holdings and positions within the Klaytn ecosystem. Specifically tailored for compatibility with the Liquid Staking protocol (stake.ly), Invitoken plans to broaden its reach by integrating with a wider array of DeFi protocols in the future.
This versatility enables users to leverage their staked positions effectively. The Invitoken platform allows for the issuance of $INVI tokens secured against the NFTs minted using its protocol, implementing strong mechanisms to prevent inflation, which can often undermine the value of digital assets.
Who is the Creator of Invitoken ($INVI)?
Information concerning the creator of Invitoken remains undisclosed in publicly available resources. Nevertheless, it is important to note that the project is driven by a dedicated team that has curated a comprehensive ecosystem surrounding the $INVI token. While the individual leadership may not be identified, the underlying expertise and innovation exhibited suggest a profound understanding of the crypto space, particularly in relation to DeFi and staking mechanisms.
Who are the Investors of Invitoken ($INVI)?
The documentation currently available does not specify individual investors or investment foundations supporting the Invitoken initiative. However, it does outline a significant token allocation strategy, including pre-seed and seed allocations of 4% each. This suggests that there are indeed investment entities backing the project, contributing to its establishment and growth potential.
The confidentiality surrounding specific investor names could be a strategic decision intended to maintain a focus on the project's core functionalities rather than individual endorsements, a stance not uncommon in the crypto sector.
How Does Invitoken ($INVI) Work?
Invitoken's innovative architecture centres around the minting of NFTs based on DeFi positions, with critical functionalities that set the project apart. Here are the key components integral to the project’s operations:
NFT Issuance
The act of minting NFTs is intricately tied to the staking ratio. Higher staking ratios will create longer lock-up periods for the NFTs, establishing a direct correlation between user commitment and potential rewards.
Incentivisation
To promote active participation, users are incentivised with $INVI tokens for locking up their collateral, thus fostering a sense of community engagement while enhancing the liquidity of the project.
Burning Mechanism
To maintain token value and promote scarcity, the project incorporates a burning mechanism affecting both $Klay and $INVI tokens. This strategy aims to curb inflation by gradually reducing the circulating supply of tokens over time.
Leverage Ratio
The leverage ratio is pivotal in defining the mandatory staking period and determining protocol fees. This feature allows users the flexibility to effectively manage their positions based on market conditions.
Interoperability
Designed with flexibility in mind, Invitoken is interoperable with existing DeFi platforms. This allows users to utilise their staked $stKlay from stake.ly to mint NFTs and issue $INVI tokens seamlessly, promoting a cohesive user experience across decentralised finance applications.
Timeline of Invitoken ($INVI)
Understanding the chronological journey of Invitoken is crucial for appreciating its development and impact in the cryptocurrency landscape. Below is a timeline of significant milestones that have shaped the project:
2023-10-31: The KCF Application for InvincibleNode was posted, outlining the project's ambitious goals and operational mechanisms.
Token Allocation: An allocation breakdown was established, with 60% designated for NFT lock-ups, 15% reserved for staker rewards, 10% for liquidity provider (LP) rewards, 5% for team allocation, and another 10% set aside for sales and airdrop distributions.
Unlock Schedule: An unlocking strategy stipulates that tokens will be released over a span of 30 months, with a cap on monthly unlocks at 3%. This gradual release is likely designed to mitigate market impact and encourage sustained interest.
Key Features and Differentiations
Invitoken is built upon a foundation of unique features that distinguish it from other projects in the space:
Compatibility with DeFi: The adaptability to existing DeFi platforms reflects Invitoken’s commitment to integrating and enhancing the broader ecosystem rather than existing in isolation.
Fast Liquidity and Trading: The NFTs minted via the Invtoken protocol create quick liquidity provisions and trading opportunities, aligning with user expectations for immediacy and efficiency in crypto transactions.
Token’s Floor Value and Deflationary Mechanism: The use of a floor value pegged at 80% of its value in $Klay, along with a deflationary mechanism, aims to promote a healthier economic model that targets long-term sustainability.
Governance
Another significant aspect of Invitoken lies within its governance model:
INVI DAO
Under the $INVI governance structure, only active stakers of the token can partake in the decision-making processes within the INVI DAO. This empowers users who are financially invested in the project to have a say in its direction, adding a participatory layer to governance initiatives.
Team Participation
In a bid for transparency and alignment with community interests, the team behind Invitoken must stake $INVI tokens to engage in governance. Moreover, they are restricted to acquiring $INVI tokens exclusively generated from protocol revenue, reinforcing the project’s commitment to its holders.
Conclusion
Invitoken ($INVI) stands at the intersection of innovation within the Klaytn ecosystem. By seamlessly integrating liquid staking with NFT issuance, it presents a compelling solution for users interested in maximising their DeFi positions. While certain details regarding its creators and investors remain undisclosed, the project's architecture is robust and designed for adaptability in the rapidly shifting cryptocurrency landscape. With a clearly mapped-out timeline and an engaging community governance structure, Invitoken is poised to carve out its niche in the expansive world of web3 and decentralised finance. As the project unfolds, it will undoubtedly capture the interest of crypto enthusiasts eager to explore the possibilities it brings.
