August 2023 — Issue 27 （ 0801–0831 ）
August has been a dynamic and challenging month in this vibrant summer season. We’re delighted to share our project’s progress and achievements over the past month in our monthly report.
How about we meet up in Singapore? INK’s team is gearing up for Token2049 this September. 14th of September, Tony Tang, the CEO of Ink Finance, will deliver a talk titled “A Practical Strategy for Scaling Real World Assets with Ink Finance” at the exclusive ‘Empowering Innovation’ event hosted by Jubi & Axia8.
Ink Finance successfully organized a theme of “Exploring how RWA works for EVM ecosystems” on Twitter Space on August 16th. We invited prominent guests like Abhishek Saxena from Polygon Ventures, Azeem Khan, Chief Impact Officer at Gitcoin, Matt Schmenk from Avalanche’s Senior BizDev, and our CEO Tony to delve deep into the discussion of RWA. The panel provided profound insights and analysis on the topic.
More than 200 participants joined the event simultaneously. Mount of audience actively raised questions to the guests. This interactivity made the event more engaging and enjoyable. Guests discussed multiple vital topics, covering technological innovations, industry prospects, and more. This event provided participants with an in-depth understanding of RWA.
Between August 17th and 20th, the Ink Finance team actively engaged in HackerHouse, an event hosted by Buidler Dao. INK’s co-founder, Camille, alongside product manager Skinner and lead engineer Alan, were enthusiastic participants in this event, which revolved around the development of DAO infrastructure.
We successfully launched a giveaway event on the Soquest platform, which attracted active participation from around 220 new users. Also, our social media has increased engagement, which is crucial for expanding our community and influence.
1) Sponsor architecture and interface support
Ink Finance, as a Plug-and-Play-enabled Web3 financial SaaS, allows Web3 organizations to adopt various different modules to fit their own needs. These features must be activated by staking QUILL tokens, purchased from the secondary market by the owners of the organizations. Or, if they do not want to stake the QUILL directly, the INK community can stake on behalf of the organization, in which case this org is considered sponsored. When an organization owns and stakes QUILLs, it is considered self sponsored.
Currently, we have divided the required Sponsorship into two levels. The first level unlocks the functionality of making proposals and supporting a variety of voting methods. The second level unlocks the ability to perform Treasury Management and Investment Management, respectively.
The Sponsor architecture and interface is highly flexible, delivering the benefit of a SaaS platform to that in the Web2 world, meanwhile taking advantage of tokenization offered by Web3 for capital efficiency. From the INK Family’s perspective, the more Web3 organizations use INK, the more locked-up the platform’s token, QUILL, which increases its market value in circulation. QUILL holders in our community can pool their QUILL tokens to sponsor the development and growth of other organizations and earn extra return.
2) Splitting the Main Contract to Optimize the Code Structure
Ink Finance entered the audit stage in July. After the audit company’s professional review and feedback, our team carried out an iterative upgrade and update and will enter the second phase of the audit.
3) Added Multimedia Authentication
Social media authentication helps improve the credibility and verifiability of DAOs on the INK platform, thus enhancing users’ trust in their own organization’s integrity. Ink Finance added YouTube verification, alongside the existing Twitter verification, as a new form of identity authentication, paving the way for a new wave of user adoption from the Web2 world.
4) Support for Making Proposals with Templates
Ink Finance has introduced a feature that supports one-click proposal template uploading, making similar proposals more standardized and easy to repeat. For any proposal that can be repeated with similar data, it can first be downloaded as a template, and later uploaded as a template for editing.
This feature makes filing proposals faster and less error-prone, saving users time and effort by not having to create proposals from scratch each time. It also immediately allows for any analysis of proposal data that’s stored on-chain.
5) Support for the Creation of Fund Templates
Similar to the Proposal making, Ink Finance has upgraded the Investment Management to allow templates to be downloaded and uploaded. The templates cover both the setup of an Investment Fund, and the New Asset Wrapping operation. These templates dramatically reduce errors from manual inputs, improving operational efficiency. They also become the most convenient no-code implementation of automatic analysis for Investment Fund operations, allowing organizations to integrate such data into their bespoke financial analysis facilities.
Read more： Ink Finance Biweekly Report # 26
About Ink Finance
Ink Finance is an on-demand financial management SaaS, enabling on-chain organizations to build effective operation structure and perform best-practice financial management. Motto: Finance is built on credit, and credit comes from competence.