Ink Finance Overview
The DeFi protocol economy is primarily an asset-backed financing regime with over-collateralization (OC) as its main methodology, which is ultimately bottlenecked by the immediately available assets on the local blockchain. Cross-chain technology, which aspires to make all heterogeneous assets from all blockchains accessible from any local blockchain, can loosen the bottleneck to a certain extent, but it alone can do very little to cross any assets that are structurally illiquid at their origination networks, which apparently include the much wider range of assets that are not originated from public blockchains. If the DeFi movement is to gain wider legitimacy, financial products introduced via credit mediation must have their presence in DeFi, hence the urgent mandate of financially focused DAOs that are rigorously constructed, flexibly operated, and professionally equipped to perform finance.
However, the hastily and sloppily designed DAOs of the past pose an existential threat to the future role of DAOs in decentralized digital finance. Fraught with plutocratic governance schemes, Sybil-infested incentive structures, and unaudited smart contract logic, past DAO failures have caused hundreds of millions in stolen funds. Integrity issues aside, the lack of comprehensive financial engineering capability further limits the potential and scalability of such DAOs, forcing them to become fractured entities only able to do limited business by practical means.
Ink Finance will establish a gold standard of financial DAO construction and operation that will serve the best-decentralized organizations, including emerging venture capital and crypto managers and syndicate groups, Web3 protocols and applications, and even traditional institutions such as art auction houses, Fortune 500 corporations, and mainstream financial firms. With its highly customizable modules of DAO configuration and powerful financial management tools, INK Finance will continuously iterate with technological, financial, and regulatory bodies to properly serve a diverse clientele who strives to adapt and thrive in the Web3 era.
INK’s Key Objectives:
Modulated DAO Setup and Financial Product Factory
INK’s out-of-the-box configuration modules are designed for aspiring financial DAOs to customize their operations and the financial products they offer. The company’s long-term goal is to provide a no-code interface for organizations to seamlessly set up, operate, and iterate, which will allow them to effectively adopt the explosive growth of assets generated by new ecosystems, especially in a very dynamic regulatory environment.
Sybil-Resistant Governance and Cross-chain Reputations
Ink Finance aims to be a multi-chain facility that allows any DAO to set itself up once and do business everywhere, with high capital efficiency and low operational overhead. This means that any DAO will be able to establish its cross-chain financial reputation with transparency, competence, and fairness.
The validity of each DAO member in a decentralized and cross-chain setting lies at the core of its reputation. INK Finance tackles the challenge of identity verification and Sybil’s resistance by utilizing the decentralized facilities offered by Aikon and Humanode, respectively.
Aikon’s decentralized identity platform enables secure login and control over the users’ data while keeping it private. It can be employed to maintain the connection between legal identity and its decentralized role across all deployed blockchains.
To ensure that a critical member of an INK DAO who is signing an audit or voting on resolutions is the same person who created the account, INK utilizes a cryptobiometric solution developed by Humanode. It allows biometric data to stay private both during computing and storage, sending only ZKP (Zero-Knowledge Proofs) to decentralized identity solutions like Aikon to prove that it’s not a hacker trying to use an account. In addition, the Humanode biometric protocol utilizes liveness detection to ensure that any critical role in an INK DAO is assigned to a real human and not another fake account.
Access to Legitimate Fundraising Platforms
Whether it be emerging venture capital managers or syndicates, DAO-governed Web3 protocols, or art auction houses, DAOs have an immediate need to fundraise from investors around the world (including US-accredited investors) and subsequently distribute those funds through smart contracts built into DAO. INK Finance aims to meet this need by integrating with fundraising platforms, including but not limited to companies such as Republic Crypto.
In the future, as the popularity of Regulation Crowdfunding (Reg CF) grows, Ink Finance will explore integrations with registered crowdfunding portals in order to host registered token offerings.
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