ALL YOU NEED TO KNOW ABOUT INK FINANCE PUBLIC SALE
Ready to dive into the world of decentralized finance? Discover everything about Ink Finance’s Public Sale, from key dates to participation details. Learn how this innovative platform is transforming.
I. About Ink Finance
Ink Finance is the scalability solution for web3 DAOs, protocols and asset managers, enabling them to customize asset management and governance frameworks through a no-code interface, to effectively establish on-chain credit and financial competence. Ink Finance allows a one-stop and frictionless solution for organized financial activities, with scalability and customizability.
🔗 Links
Website:
https://www.inkfinance.xyz/
X: https://x.com/inkfinance
Discord: https://discord.com/invite/InkFinance
Telegram: https://t.me/InkFinance
📌 Key Highlights
Partners & Backers: Republic Capital, Revere VC, Draper Dragon, Krypital Group, Axia8 Ventures ∞, Coresky, Republic, Redline Labs, Allianceao, and more.
Adoption: Over 140 organizations onboarded with 120k users.
Revenue Performance: $600,000+ revenue in the past quarter.
Mainnet Success: Live on Avax, Polygon, Arbitrum, and Bitlayer Labs.
II. Ink Finance Public Sale On Openpad
1. Ink Finance Public Sale Dates
Staking: 09:00, 20 Nov 2024 UTC - 09:00, 25 Nov 2024 UTC
Whitelist Announcement: 09:00, 26 Nov 2024 UTC
Tier Round: 09:00, 27 Nov 2024 UTC - 12:00, 27 Nov 2024 UTC
Community Round: 12:00, 27 Nov 2024 UTC - 12:30, 28 Nov 2024 UTC
2. Where To Buy QUILL Token?
Purchase at OpenPad AI Platform
3. Whitelist Status
(The whitelist will be updated soon)
III. Ink Finance Public Sale Details
1. Refund Application
The Ink Finance Public Sale is applied with a Riskless Rule, offering a refund mechanism for secure investments.
How to Activate
Users can activate the Claim or Refund function at the IDO project TGE through the OpenPad platform.
Refund Mechanism
‣ Activation Window: Users have 24 hours from the listing time to initiate a refund. If no refund is requested within this period, users will automatically follow the vesting schedule for token claims.
‣ Applicable to All Rounds: This refund mechanism applies to all IDO groups, including both the Tier Round and FCFS Round.
Claim or Refund at TGE
‣ Claim: Receive your tokens according to the project’s vesting schedule.
‣ Refund: Refund your investment
* Note: you cannot claim a refund and tokens simultaneously.
2. QUILL Utilities and Value Proposition
QUILL is the native token of Ink Finance protocol, which is operated by the INK MAIN DAO. It is a governance capital, fee capture utility, and publicly owned incubation capital.
QUILL is the native token of Ink Finance platform, which will be operated by the INK MAIN DAO. As such, the QUILL tokens will be used as the governance token by the Ink Finance ecosystem, in the same way as any user DAOs who use their meta tokens on the platform. In this regard, it can be used for any small DAOs as their default governance tokens if they don't intend to issue their own DAO tokens.
However, there are other key considerations that will separate QUILL from a generic DAO token. Specifically, since Ink Finance is positioned as a SaaS platform on blockchain, the QUILL token is also designed to maximize token holders' values, in a best effort to function as a non-security utility.
Governance Capital for DAOs
Much better than Web2 SaaS, Ink Finance uses the QUILL tokens to align the interest of the platform and its DAO users.
DAOs that use Ink Finance’s facilities are required to stake QUILLs to unlock the features offered by the protocol. Unlike the subscription model of the Web2 SaaS, user DAOs can preserve such working capital and sell them when they decide to exit their operations, instead of paying the irrecoverable subscription fees. This is an innovative utility model in which the users are also the partial owners of the software that they use. It’s akin to a traditional startup buying real estate or machinary to run its business; if it doesn’t succeed at its mission, the company can liquidate those assets to recapture, or even gain appreciation on, the initial investment.
Neither building a DAO’s own infrastructure nor paying cash for a subscription can match such an advantage. By staking the QUILL tokens, DAOs also gain governance rights of the Ink Finance protocol and earn the staking rewards. It is a mutually beneficial economic model in which the QUILL holders and the user DAOs share their growth, making real sense out of the term “stakeholders”.
Fee Capture Utility
As a non-security token, QUILL will be explicitly monetized with the captured fees by the Ink Finance platform.
QUILL is also designed to be a fee capturing utility. Fees are charged to DAOs who issue funds from Investment Committees, or bespoke assets managed by the DAO's Treasury Committees. Fees are alternatively charged to DAOs that do not issue financial products but manage their assets with UCVs.
A portion of the collected fees is used to maintain the development and maintenance of the platform, and the rest will be used to swap for the QUILL tokens in the circulation. The QUILL tokens that are swapped back from the circulation will be put at the bottom of QUILL staking emission pool.
There is an initial Staking Reward Pool to emit rewards to those token holders who either stake to participate in the governance of the Ink Finance Protocol, or stake to sponsor other DAOs who cannot (or do not want to) acquire and stake QUILL tokens. Eventually, however, the emission will deplete this pool. The swapped back QUILL tokens will continuously build up a reverse to assure the operation of Ink Finance after the initial emission reward is depleted. Such a fee utility can be viewed as a “soft destruction” of the QUILL tokens in the circulation.
With QUILL’s non-inflationary issuance scheme, it becomes obvious that the growth of client DAOs operating on the Ink Finance platform, or the growth of assets under the management thereof, underpins the valuation of the QUILL tokens.
Public Incubation Capital
A unique way of encouraging public QUILL token holders to sponsor and incubate upcoming DAOs and share their growth.
There are two cases where DAOs may need operational sponsorship.
When DAOs do not yet have the plan to issue their own meta tokens, they can simply use QUILL tokens to govern their own ecosystems, practically boosting staking demand for QUILL tokens. Such a DAO is considered as being sponsored by the entire QUILL holding community.
The other case is where DAOs do intend to use their own tokens to govern, but lack the initial working capital to purchase and stake QUILL tokens to turn on the needed features offered by Ink Finance platform. In such a scenario, any existing QUILL token holders can use INK Staking Engine’s Sponsorship feature to sponsor these DAOs to get them up and running.
The Sponsors can designate their staked QUILL Tokens to be used for the DAOs needing the sponsorship. These Sponsors receive not only the staking emission offered by Ink Finance protocol, but also any negotiated income sharing from the sponsored DAOs.
What’s significant is not only that such arrangements are totally driven by the market, but they are also transparently enforceable on-chain. The Sponsors can use the various governance tools provided by Ink Finance to insert themselves into the management structures of the DAOs. Whether it is the Board seat, Treasury Signer, or Fund Administrator, as long as the DAOs keep performing, the Sponsors can be assured that the negotiated revenue or profit sharing terms can be enforced.
Such a utility of the QUILL token is unique among all Web3 governance dApps. It encourages passive QUILL token holders to be actively involved in the community-driven incubation process, where the promising and upcoming new organizations can grow with the help of the existing QUILL token holders.
3. Allocation and Vesting
Total Initial Issuance: 100 million
Inflation: No
The following table shows the allocation of the initially issued QUILL tokens, as well as their vesting schedules and purposes of usage.
4. INK Economy Rules
The economic values of the Ink Finance platform is embedded by the QUILL tokens and how the INK MAIN DAO Treasury operates.
As a tooling platform, Ink Finance project has certain preset rules of governing its economy in order to bootstrap its adoption, while maintaining transparency and integrity even at the very early stage of its launch.
As the project becomes more and more mature, the INK DAO, which represents the entire QUILL token holder community (including the DAOs running on Ink Finance platform), will be maintaining the platform in a decentralized fashion, and can change these rules as they deem necessary, through the very transparent and accountable procedures supported by the platform itself.
The following are the specifics of these preset rules.
QUILL Emission Pool
The initial statking reward accounts for 20% of the totally issued QUILL tokens, with a smooth emission curve over 20 years. The pool will be replenished after its depletion by treasury income.
The initially allocated QUILL staking reward pool accounts for 20% of the totally issued QUILL tokens, or 20,000,000. The initial emission from the pool follows a linear daily curve over 20 years as calculated below, subject to changes made based on the observed economic metrics of the QUILL token usage.
The INK Treasury
The management of INK Treasury follows the same principle of transparency applied to the user DAOs.
Since the Ink Finance platform is managed and operated in a decentralized fashion by the entire QUILL holding community, the management of INK Treasury follows the same principle of transparency applied to any user DAO running on the platform.
The INK Treasury starts with a balance of raised capital and locked QUILL tokens as stipulated in this White Paper, and it accrues actual fees charged by those Ink Finance facilities resulting in the issuance, distributions, and redemptions of financial products, as well as asset custodies.
Rule 1：All the QUILL tokens sold to private investors with lockup will be distributed according to the vesting schedules set forth in this White Paper, via the transparent periodic payment schedule.
Rule 2：All the QUILL tokens sold to private investors with lockup will have voting powers during lockup, if the investors choose to use them. These tokens will be deposited into the QUILL Staking Engine via its Trusted Staking mechanism. The emitted rewards of the locked QUILL tokens have no lockups.
Rule 3：A minimal fee of 0.5% will be charged on the raised currency proceeds, as well as the redemption proceeds. The fees will accrue to the INK Treasury. The minimal fees can be reviewed and adjusted by the entire Ink Finance community via proposing and voting.
Rule 4：A minimal fee will be charged on any assets under the custody of any UCV used by any DAO operating on the Ink Finance platform. The fees will accrue to the INK Treasury. The minimal fees can be set, reviewed, and adjusted, according to the types of the assets and their fair value assessment mechanisms, by the entire Ink Finance community via proposing and voting.
Rule 5：25% of all fees accrued to the Treasury will be spent on the maintenance and continuous development of the Ink Finance platform, and the remaining 75% will be spent to swap for the QUILL tokens in the circulation.
Rule 6：All QUILL tokens swapped back into the INK Treasury will be added to a separate account in the QUILL Staking Engine, used as future reward emissions after the initial emission pool is depleted.