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What is Ink?
Ink is a decentralized solution harnessing the combined power of Consortium Blockchain, Public Blockchain and Cross-chain Interoperability for the global Creative Industry.
The vision of Ink is to provide Sovereign Consortium Blockchain to different use cases, to redefine roles, content, and behaviors within the industry, and to build for the Creative Industry decentralized infrastructure in which various applications can be created and correlate to each other under one highly integrated system.
Based on a credible and stable public blockchain, an Intellectual Property Asset Exchange is built as a trusted corridor for content-to-liquid-asset-conversion and token issuance, making it an integrated ecosystem.
Furthermore, defining and developing the cross-chain protocol enables value and information to flow freely between public blockchain and consortium blockchain.
The Use of INK Token
Ink will issue INK tokens based on the QRC-20 standard of Qtum Blockchain. INK is defined as a utility token. As an essential economic medium, INK will be used under many scenarios, such as all economic behaviors in the Creative Industry, key applications, and services in Ink ecosystem including IP registration & verification, IP Asset Exchange, etc.
The system will incentivize positive contributions to the ecosystem by awarding tokens. These contributions include content production, commenting, reposting, exchange of flow, etc.
Under the content consumption scenario, in the future, IPs will mostly issue their own IP tokens based on INK. Upon successful issuance, the system will keep only a small portion as commission and thereafter destroy the tokens gained from the proceeds. This is equivalent to Ink charging a fee for using the system and then return the benefit to INK holders.
The total number of INK is one billion. They will be distributed as follows:
—— 500 million (50%) for issuing tokens. The income will be used to support further development of Ink, including technology development, market expansion, legal advice, IP investment, etc.
—— 200 million (20%) for founding team and early contributors who provided resources and technological support to Ink at very early stage.
—— 150 million (15%) of content ecosystem incentive.
—— 150 million (15%) for community constructions, including branding, application support, ecosystem construction, etc.