WHITEPAPER

V1.01
 WHITEPAPER

Disclaimer

The
 purpose
 of
 the
 white
 paper
 is
 to
 describe
 iNFT's
 current
 business
 and

expected
 plans
 for
 iNFT
 token
 development.
 Nothing
 in
 this
 document
 should

be
 regarded
 as
 a
 guarantee
 or
 promise
 for
 the
 future
 development
 of
 iNFT

business,
nor
should
it
be
regarded
as
a
function
or
value
description
of
iNFT;
this

document
outlines
our
current
plans,
which
may
be
based
on
our
judgment
The

success
of
making
changes
depends
on
many
factors
beyond
our
control,
such

as
 market
 factors
 in
 the
 cryptocurrency
 industry.
 Any
 statements
 about
 future

events
are
based
solely
on
our
analysis
of
the
issues
described
in
this
document,

and
 these
 analyses
 may
 prove
 to
 be
 incorrect
 in
 practice.
 iNFT
 purchases
 are

affected
by
many
potential
risks.
These
risks
are
explained
in
this
document,
iNFT

tokens
and
token
sale
FAQs
and
token
sale
risk
disclosures.
 WHITEPAPER

Abstract

According
 to
 Google
 Trends,
 the
 global
 search
 volume
 of
 NFT
 will
 show

explosive
 growth
 in
 2021.
 According
 to
 NonFungible
 data,
 the
 total
 market

value
of
NFT
in
2019
will
reach
210
million
U.S.
dollars.
It
is
expected
to
grow
by

50%
 in
 2020
 to
 reach
 320
 million
 U.S.
 dollars,
 and
 it
 will
 be
 in
 2021.
 The
 total

market
 value
 has
 continued
 to
 rise
 by
 125%
 to
 710
 million
 US
 dollars,
 and
 the

development
prospects
are
huge.

The
 TMT
 industry
 report
 "Linking
 Blockchain
 and
 Value
 Entity,
 NFT
 Market

Potential"
released
by
China
Great
Wall
research
analysts
pointed
out
that
the

NFT
market
is
still
in
its
infancy,
and
it
is
expected
to
grow
into
the
next
industry

outlet
 after
 phased
 development.
 NFT
 is
 not
 only
 an
 artwork
 but
 also
 a
 liquid

intellectual
property
in
the
web3.0
era.
NFT
itself
is
a
brand
new
type
of
financial

asset.
However,
the
current
reality
is
that
although
the
total
turnover
of
NFTs
has

risen
sharply,
it
is
still
very
difficult
to
sell
NFTs
in
the
secondary
market.
With
the

increasing
 degree
 of
 financialization
 of
 NFTs,
 the
 market
 will
 urgently
 need
 a

new
iNFT
trading
platform.


iNFT
aims
to
solve
the
problem
of
price
discovery
in
the
NFT
market
through
the

DAO
 mechanism.
 An
 efficient
 price
 discovery
 mechanism
 will
 enable

participants
 to
 conduct
 transactions
 faster
 and
 increase
 liquidity
 through

tokenization.
The
DAO-based
price
discovery
mechanism
of
iNFT
will
make
the

financialization
of
NFT
asset
classes
possible.
WHITEPAPER

CATALOGS
1.Current
situation
and
problems
of
the
NFT
marketplace









01

2.Our
solution-Decentralized
Appraisal
Machine




























03





2.1
Decentralized
Appraisal
Machine
(DAM)



























































03





2.2
Decentralized
Autonomous
Organization(DAO)
















































04





2.3
Appraisal
Model
















































































































04

3.Features
of
iNFT
platform




































































05





3.1
NFT
Auction
Market
































































































 07





3.2
NFT
Lending
Market







































































































07





3.3
DID
identity
management






















































































08





3.4
Governance
mechanism
based
on
DAO
























































 08





3.5
Combining
Defi
to
synthesize
NFT
assets
to
release
liquidity



























09





3.6
Rewards
for
liquidity
providers












































































 09

4.
TOKEN
UTILITY

















































































 10





4.1
Tokennomics












































































































 10





4.2
Token
Allocation

































































































 10

5.
iNFT
Governance








































































 11





5.1
iNFT
Council



























































































12





5.2
Council
Election




















































































12











5.3
iNFT
holders
can
use
their
tokens
to



























































12





5.4
Voting












































































































 12

6.Roadmap
























































































 15

7.
Conclusion






















































































 17
 WHITEPAPER

1.Current
situation
and
problems
of
the
NFT
marketplace

In
 the
 Q1
 2021,
 there
 were
 more
 than
 140,000
 active
 wallets
 and
 over
 70,000

buyers
in
the
NFT
market,
and
the
transaction
volume
was
131
times
of
Q1
2020

and
 20
 times
 of
 Q4
 2020.
 The
 industry
 has
 grown
 rapidly,
 and
 community

activities
 have
 also
 increased
 significantly.
 Like
 DeFi,
 NFT
 has
 the
 potential
 to

become
Lego
bricks
and
can
be
combined
with
other
parts
of
the
ecosystem.

In
the
blockchain
world,
NFT
can
be
combined
with
many
elements,
including

lending
and
games.
If
we
can
tap
the
economic
value
of
NFT,
we
can
ensure
its

continued
liquidity.
In
the
real
world,
NFT
can
be
combined
with
some
tangible

assets,
 such
 as
 property,
 securities,
 insurance,
 etc.
 Not
 only
 that,
 but
 NFT
 has

become
 more
 and
 more
 accessible,
 just
 like
 a
 painting,
 graffiti
 or
 a
 toy
 can

become
an
NFT.
If
these
assets
can
be
successfully
"NFT-ed",
the
future
market

expansion
will
be
extraordinary.

Figure
1
NFT
marketplace

In
 the
 past
 year,
 the
 volume
 of
 DEX
 (decentralized
 exchange
 market)
 has

shown
 an
 overall
 growth
 trend,
 especially
 in
 the
 past
 two
 months,
 the
 market

has
 ushered
 in
 explosive
 growth,
 and
 the
 market
 transaction
 volume
 in
 May

alone
reached
162.25
billion
U.S.
dollars.
The
trading
volume
of
the
NFT
market
is

only
 190
 million
 U.S.
 dollars.
 As
 an
 important
 trading
 asset
 of
 DEX,
 NFT
 trading

volume
 accounts
 for
 less
 than
 three
 thousandths.
 This
 shows
 that
 the
 potential

of
 the
 entire
 market
 has
 not
 been
 tapped,
 and
 there
 is
 a
 big
 problem
 with

liquidity.

01
 WHITEPAPER

DEX
Volume

Uniswap
v3 Uniswap Sushiswap 0x Curve May
2021

13
Others:$25.28b
$200b Total:$162.55b

$150b

$100b

$50b

$0b

JUN
2021*
MAR
2021
JAN
2021

FEB
2021

MAY2021
APR2021
SOURCE:COINGECKO
UPDATED:JUN21,2021

Figure
2
DEX
market
transaction
data
in
2021
Data
source:
The
Block
Crypto

Weekly
Trade
Volume
of
NFTs
NBA
Topshot CryptoPunks Sorare Axie
lnfinity CryptoKitties 3
Others

$125m

$100m

$75m

$50m

$25m

$0
22.Mar 5.Apr 19.Apr 3.May 17.May 31.May 14.Jun

SOURCE:DAPPRADAR
UPDATED:JUN21,2021

Figure
3
NFT
market
weekly
trading
data
in
2021
Data
source:
The
Block
Crypto

02
 WHITEPAPER

The
 popularity
 of
 the
 current
 NFT
 market
 continues
 to
 rise,
 involving
 art,
 virtual

collectibles,
 games,
 physical
 asset
 tokens
 and
 other
 fields,
 and
 has
 received

extensive
 attention
 from
 investors.
 But
 from
 an
 overall
 point
 of
 view,
 the
 NFT

market
 is
 still
 in
 the
 very
 early
 stages.
 A
 significant
 problem
 is
 lack
 of
 liquidity.

Unlike
ERC20
tokens,
NFT
cannot
be
split.
A
complete
NFT
must
be
traded
when

trading.
 This
 is
 for
 liquidity.
 It
 will
 have
 a
 great
 impact,
 and
 it
 is
 easy
 to
 cause

bubbles.
 In
 addition,
 the
 current
 NFT-type
 tokens
 on
 the
 market
 emerge
 in

endlessly,
and
the
market
has
not
yet
formed
a
stable
consensus
on
the
value

range
of
a
certain
NFT,
so
its
pricing
mechanism
still
needs
to
be
resolved.

2.Our
solution-Decentralized
Appraisal
Machine

DAM
 (Decentralized
 Appraisal
 Machine)
 is
 a
 pricing
 mechanism
 proposed
 by


the
iNFT
platform
to
realize
NFT
through
smart
contract
+
DAO,
which
is
intended

to
solve
the
asset
liquidity
pain
points
of
the
NFT
primary
market
and
secondary

market.

DAM
is
a
decentralized
price
verification
machine.
At
present,
there
are
many

NFT
projects,
but
the
pain
points
in
the
market
are
also
very
obvious.
Casting
an

IP
picture
is
very
difficult
to
sell,
at
present,
there
is
obviously
a
phenomenon
of

false
 prosperity
 in
 the
 market.
 The
 core
 problem
 is
 that
 the
 asset
 premium
 is

contrary
 to
 the
 user's
 purchase
 intention
 The
 core
 problem
 is
 that
 the
 asset

premium
is
contrary
to
the
user's
willingness
to
buy.
Because
sellers
only
want
to

sell
at
high
prices,
it
is
difficult
for
a
single
consensus
to
form
buyers'
purchasing

power.
 The
 initial
 evaluation
 model
 of
 DAM
 was
 designed
 and
 completed
 by

the
 iNFT
 Global
 team,
 it
 is
 mainly
 designed
 with
 reference
 to
 the
 valuation

business
 model
 of
 professional
 institutions
 such
 as
 Sotheby's
 Auctions
 and
 the

paper
 titled
 "An
 Efficient
 Price
 Mechanism
 for
 NFTs"
 .
 The
 technical
 team
 will

continue
 to
 iteratively
 update
 the
 evaluation
 algorithm,
 and
 the
 evaluation

node
 will
 update
 and
 upgrade
 the
 evaluation
 model
 according
 to
 the
 voting

rules
written
by
the
DAO.

2.1
Decentralized
Appraisal
Machine
(DAM)



DAM
allows
NFT
assets
to
interact
between
different
types
of
evaluation
nodes.

The
 evaluation
 node
 complements
 and
 modifies
 the
 attributes
 of
 NFT
 assets,

and
sets
initial
prices
for
NFT
assets
through
a
non-zero
sum
game.
The
appraisal

machine
introduces
a
fair
value
system.
At
the
same
time,
the
appraisal
node

will
 determine
 the
 fair
 value
 of
 the
 NFT
 based
 on
 the
 authenticity
 of
 the
 asset,

the
price
trend
of
the
same
type
of
asset,
and
the
supply-demand
relationship.

The
initial
price
plus
the
fair
value
given
by
the
node
forms
the
price
range
for

supply
Market
reference.

03
 WHITEPAPER

Nodes
 participating
 in
 the
 evaluation
 will
 receive
 iNFT
 platform
 tokens
 as

rewards
 in
 the
 early
 stage,
 and
 the
 proceeds
 from
 NFT
 evaluation
 will
 be

distributed
to
the
evaluation
nodes
according
to
certain
rules.

2.2
Decentralized
Autonomous
Organization(DAO)

Node
approval

entry
mechanism

Appraisal

model

DAO
Governance

update

Income

Distribution

Figure
4
Decentralized
Appraisal
Machine

DAO
is
a
fully
automated
organization.
Any
individual
or
group
can
join
or
leave

at
 any
 time
 provided
 that
 they
 meet
 the
 conditions.
 The
 appraisal
 machine

system
 manages
 the
 operating
 node
 ecology
 through
 the
 DAO
 method,
 and

implements
 the
 rules
 and
 benefit
 distribution
 through
 the
 smart
 contract

management
mechanism
to
ensure
transparency
and
fairness.
We
believe
that

only
the
price
range
formed
by
the
DAM
governance
mechanism
is
open
and

fair
can
it
be
reasonable.

2.3
Appraisal
Model



The
initial
evaluation
model
of
DAM
was
designed
by
the
iNFT
Global
team.
Its

design
 mainly
 refers
 to
 the
 evaluation
 business
 mechanism
 of
 professional

institutions
 such
 as
 Sotheby's
 Auctions
 and
 the
 paper
 "An
 Efficient
 Price

Mechanism
 for
 NFTs".
 The
 technical
 team
 will
 continue
 to
 iterate
 and
 update

the
 evaluation
 algorithm,
 and
 the
 evaluation
 node
 will
 update
 and
 upgrade

the
evaluation
model
according
to
the
voting
rules
written
by
the
DAO.

04
 WHITEPAPER

Decentralized
Appraisal
Machine

Supply

Price
 Authority
 and
 
Voting

Oracle node demand
 node
node

THE
DAO

Appraisal
Model
MODEL
1 MODEL
N


Price
range

for
reference

Fair
value

Figure
5
Appraisal
Model—Decentralized
Appraisal
Machine

3.Features
of
iNFT
platform

iNFT
 aims
 to
 building
 the
 first
 DAO
 autonomous
 NFT
 marketplace-building
 a

multi-level
 blueprint
 for
 the
 entire
 industry.
 Our
 system
 integrates
 scalability

across
 business
 and
 technical
 means.
 iNFT
 solves
 the
 current
 price
 discovery

problem
 in
 the
 NFT
 marketplace
 through
 the
 DAO
 mechanism.
 An
 efficient

price
 discovery
 mechanism
 will
 enable
 participants
 to
 conduct
 transactions

faster,
 increase
 the
 liquidity
 of
 NFT
 assets
 through
 tokenization,
 allow
 NFTs
 to

become
collateral
without
an
order
book
and
create
a
wealth
of
NFT-targeted

Derivatives.
 iNFT's
 price
 discovery
 machine
 will
 accelerate
 the
 financialization

of
 NFT
 asset
 classes.
 And
 to
 bring
 about
 the
 establishment
 of
 new
 market

standards
for
the
sustainable
development
of
the
NFT
market.

05
 WHITEPAPER

Figure
6
iNFT's
price
discovery
machine


iNFT
platform
can
be
divided
into
the
following
4
components

●


NFT
Auction
Market

●


NFT
lending
market

●


DID
identity
management,
only
official
entry
is
allowed

●


DAO-based
governance
mechanism

06
 WHITEPAPER

3.1
NFT
Auction
Market



For
a
long
time,
auctions
have
been
an
important
part
of
real-world
collections.

Due
to
subjective
evaluation,
this
is
a
useful
way
to
find
commodity
prices,
as
is

the
 case
 with
 digital
 collections
 NFT,
 especially
 high-value
 digital
 collections.

Currently
there
are
several
marketplaces
that
can
provide
NFT
auction
services.

Unlike
 the
 simple
 process
 of
 listing
 and
 trading
 NFTs
 on
 the
 regular
 NFT

marketplaces,
 performing
 NFT
 auctions
 requires
 more
 selection
 and

preparation
 processes.
 The
 result
 is
 that
 only
 a
 small
 number
 of
 users'
 needs

have
been
resolved,
including
NFT
owners
and
purchasers.
In
addition,
the
NFTs

of
 digital
 works
 are
 created
 on
 different
 blockchains.
 The
 NFT
 market
 is
 quite

fragmented,
 which
 makes
 it
 difficult
 for
 NFTs
 created
 on
 one
 blockchain
 to

trade
 on
 another
 blockchain.
 The
 iNFT
 auction
 marketplace
 is
 a
 cross-chain

peer-to-peer
NFT
auction
marketplace,
which
aims
to
bring
a
large
number
of

high-value
NFTs
to
the
auction
marketplace
and
allow
more
talented
artists
to

be
recognized
and
valued.

3.2
NFT
Lending
Market



Generally
 speaking,
 the
 liquidity
 of
 NFT
 collections
 is
 relatively
 low.
 The
 owner

wants
to
hold
the
NFT
for
long-term
value
accumulation
and
wait
for
a
suitable

transaction
 before
 reselling.
 However,
 this
 means
 that
 the
 owner's
 financial

liquidity
is
insufficient.
We
believe
that
breaking
through
liquidity
barriers
is
one

of
 the
 keys
 to
 the
 further
 development
 of
 the
 NFT
 market.
 Similar
 to
 physical

assets
 that
 can
 be
 used
 as
 collateral
 for
 financing,
 NFT
 should
 also
 be
 used
 to

support
 owners
 to
 obtain
 loans
 by
 depositing
 NFT
 as
 collateral.
 Designed
 to

solve
the
borrowing
needs
of
NFT
owners.
Compared
with
ordinary
Defi
lending

platforms,
the
NFT
lending
process
is
mainly
different
as
the
asset
value
is
quite

subjective.
 Therefore,
 we
 design
 to
 let
 the
 lender
 choose
 the
 NFT
 through
 the

DAO
 mechanism
 and
 reach
 an
 agreement
 with
 the
 borrower
 on
 the
 terms.

Users
can
list
them
to
trade
their
own
NFTs,
or
find
other
NFTs
to
purchase.
Users

can
 trade
 their
 own
 NFTs
 by
 listing
 these
 terms,
 or
 find
 other
 NFTs
 to
 purchase.

Once
 a
 user
 obtains
 NFTs
 or
 uploads
 his
 own
 NFTs
 to
 the
 market,
 he
 can
 use

them
as
collateral
for
loans
based
on
supply
and
demand.

Provide
price
mechanism Provide
value
assets

Create
demand User
A Provide
financial
services Payment
of
fees
(tokens) Fan
Economy User
B

Figure
7
DAO
price
discovery
mechanism
in
the
iNFT
lending
market

07
 WHITEPAPER

iNFT
 provides
 a
 tool
 to
 generate
 high
 profits
 for
 lenders
 through
 the
 DAO

mechanism,
and
has
the
opportunity
to
obtain
the
required
NFT
in
the
event
of

foreclosure.
 The
 lending
 and
 borrowing
 function
 will
 allow
 anyone
 who
 holds

stablecoins
and
NFTs
to
use
NFTs
as
a
borrower
to
easily
build
additional
income

for
 lenders
 through
 leverage.
 In
 addition,
 the
 owners
 of
 iNFT
 platform
 tokens

can
obtain
financial
returns
from
their
investments
through
token
pledges.

3.3
DID
identity
management



iNFT
 only
 allows
 official
 NFTs
 to
 enter
 the
 platform.
 The
 iNFT
 platform
 combines

technologies
 such
 as
 zero-knowledge
 proof
 and
 the
 new
 DPKI
 revocation

mechanism
 to
 achieve
 autonomous
 control
 of
 entity
 identities
 and
 secure

authentication,
authorization
and
data
exchange
to
protect
privacy.
In
 iNFT
 platform,
 the
 digital
 identity
 is
 independently
 controlled
 by
 the
 user
 in

order
to
meet
the
security
and
privacy
requirements
of
the
user's
identity.
Users

can
 generate
 their
 own
 DID
 identities
 through
 the
 iNFT
 platform
 and
 apply
 to

the
 issuer
 for
 multiple
 identity
 vouchers
 with
 different
 functions
 and
 different

scenarios.Users
 can
 use
 privacy
 protection
 to
 authenticate
 and
 connect
 their

identities
 in
 different
 systems,
 so
 as
 to
 expand
 their
 business
 efficiently
 and

conveniently.
Institutional
entities
can
also
efficiently
issue,
deposit
certificates,

and
 transfer
 certificates,
 allowing
 only
 officially
 certified
 NFT
 contract

addresses
to
enter
the
platform
to
circulate,
so
as
to
prevent
the
entry
of
fakes.

3.4
Governance
mechanism
based
on
DAO



DAO
 is
 a
 decentralized
 autonomous
 model
 that
 solves
 the
 problem
 of
 NFT

pricing
 through
 the
 governance
 of
 DAO.
 Its
 advantage
 is
 that
 the
 pricing

power
of
the
NFT
is
determined
by
the
market
and
authoritative
institutions,
not

by
 creators
 and
 buyers.
 The
 DAO
 pricing
 mechanism
 can
 enable
 the
 NFT

market
 to
 enter
 a
 benign
 price
 trading
 network,
 and
 can
 effectively
 combine

with
DEFI
to
achieve
a
cycle
of
asset
scale.

Voters
 through
 the
 DAO
 mechanism
 evaluate
 the


Finance Business

path
price
 range
 of
 NFTs,
 and
 price
 evaluators
 enjoy
 the

evaluation
mining
revenue

iNFT
provides
a
complete
set
of
infrastructure
suitable

Product
 for
 NFT,
 including:
 multi-chain
 transaction
 facilities,

Matrix auction
 blind
 box
 protocol,
 DAO
 organization

governance,
etc.
Pricing
 Business

power model Issuing
and
trading
NFT
and
asset
value
measurement

Business
 standards,
 creators
 and
 users
 complete
 asset

scene ownership
 pricing
 +
 circulation
 in
 a
 scenario
 that

meets
the
needs
and
recognition
of
both
parties

Figure
8

Governance
mechanism
based
on
DAO

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 WHITEPAPER

The
iNFT
platform
provides
a
friendly
community
where
members
can
evaluate

and
price
NFT.
According
to
the
evaluation
report,
the
project
will
be
shortlisted

and
voted
by
iNFT
token
holders.
As
part
of
the
iNFT
ecosystem,
NFT
holders
will

also
 benefit
 from
 the
 development,
 marketing,
 consulting
 and
 legal
 services

provided
by
iNFT
partners
to
accelerate
product
development
and
release.

3.5
Combining
Defi
to
synthesize
NFT
assets
to
release
liquidity

Figure
9
Using
NFT
technology
to
convert
cloud
computing
power

iNFT
uses
NFT
technology
to
convert
cloud
computing
power
that
could
not
be

circulated
in
the
secondary
market
and
the
private
equity
quota
in
the
primary

market
into
NFT
vouchers.
NFT
vouchers
can
ensure
that
the
liquidity
of
this
part

of
 the
 equity
 is
 increased
 without
 affecting
 the
 original
 equity,
 and
 by

combining
 DEFI
 to
 provide
 holders
 with
 unprecedented
 passive
 income

opportunities,
making
NFT
collateral
attractive
to
cryptocurrency
holders
.

iNFT
 implements
 a
 simplified
 high-return
 mortgage
 mechanism,
 so
 that


community
members
can
obtain
higher
returns
than
any
fixed-term
deposits
in

the
 current
 market.
 By
 staking
 iNFT
 tokens,
 community
 members
 will
 receive

staking
rewards
and
any
applicable
bonuses.
The
revenue
sharing
mechanism

and
 bonus
 payment
 will
 be
 reviewed
 regularly,
 and
 any
 changes
 will
 be

implemented
 through
 community-based
 voting.
 The
 staking
 mechanism
 will

not
only
benefit
the
community,
but
will
also
drive
market
demand
for
iNFT
and

increase
the
intrinsic
value
of
the
platform
through
appreciation.

3.6
Rewards
for
liquidity
providers



Yield
 Farmers
 who
 provide
 liquidity
 on
 iNFT,
 are
 an
 important
 part
 of
 the

platform's
 mechanism,
 and
 they
 will
 be
 entitled
 to
 attractive
 rewards.
 In

addition
 to
 holding
 only
 cryptocurrencies,
 community
 members
 can
 also
 use

the
secure
infrastructure
provided
by
iNFT
to
lend
assets
to
other
traders
to
earn

passive
 income.
 Liquidity
 providers
 can
 get
 rewards
 generated
 in
 the
 liquidity

pool
without
giving
up
control
of
their
funds.
In
addition,
liquidity
providers
can

also
deposit
their
reward
tokens
in
the
liquidity
pool
to
earn
more
interest.
This
is

a
 supplementary
 option
 for
 community
 members
 who
 want
 to
 earn
 higher

income
through
different
protocol
arbitrage
and
exchange
funds.

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4.
TOKEN
UTILITY

4.1
Tokennomics



iNFT
is
the
only
ecological
token
issued
by
iNFT
and
iNFT
token
plays
a
core
role

in
the
iNFT
ecosystem.
The
value
it
can
capture
includes
but
is
not
limited
to:

●
 
 iNFT
 platform
 fee:
 The
 fees
 incurred
 by
 the
 user
 when
 using
 the
 platform,

whether
it
is
transaction
fee
or
using
the
relevant
API
of
the
iNFT
market

●


Synthesize
NFT,
the
transaction
fee
is
required
to
draw
the
blind
box

●


Governance
and
voting:
iNFT
token
holders
can
create
proposals
and
vote.

●


Provide
liquidity
for
NFT
tokenization:
Provide
liquidity
for
NFT
tokenization
to

get
NFT
rewards

●


The
handling
fee
to
be
paid
for
the
INO
:crowdfunding
platform
project
to

be
put
on
the
shelves

4.2
Token
Allocation

Ticker iNFT

Blockchain Binance
Smart
Chain
Token
Standard BEP20
Type
of
Token Utility
token
Total
supply
 100
million

10
 WHITEPAPER

10%
Tansaction
mining
9%
Private
placement
round
5% Marketing
operation

70% 5% Foundation
1% Team
INO

10%



Private
placement
round,
50
million
9%





Market
operation,
45
million

5%





Foundation,
25
million

5%





Team,
25
million,The
team
and
market
operations
will
be












unlocked
in
3
years,
and
will
be
released
once
a
month
1%





INO,
5
million
70%



Transaction
mining,
350
million

5.
iNFT
Governance

iNFT
has
a
formalized
governance
system
that
is
encoded
on-chain
utilizing
the

Substrate
 democracy
 pallet.
 This
 enables
 on-chain
 voting
 mechanisms
 for

binding
 and
 transparent
 governance
 by
 iNFT
 token
 holders.To
 make
 any

change
 to
 iNFT
 requires
 a
 stake-weighted
 majority.
 iNFT
 holders
 can
 vote
 with

their
stake
on
referenda
that
are
proposed
by
the
Centrifuge
community
or
the


iNFT
Council;
a
body
of
10
members
elected
by
iNFT
holders.
iNFT
 holders
 can
 propose
 and
 vote
 on
 changes
 such
 as
 runtime
 upgiNFTes,

distribution
 of
 treasury
 funds,
 chain
 parameters,
 and
 the
 governace
 system

itself.
iNFT
holders
vote
on
proposals
with
their
tokens,
and
increase
the
weight

of
their
vote
by
locking
up
tokens
for
extended
periods
of
time
along
with
their

vote.

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 WHITEPAPER

5.1
iNFT
Council



The
iNFT
Council
comprises
a
body
of
10
elected
members
who
gain
prioritized

voting
 rights
 over
 other
 iNFT
 holders.
 The
 purpose
 of
 the
 council
 is
 to
 propose

referenda
 beneficial
 to
the
Centrifuge
 Network,
 based
 on
 member's
 expertise

and
 experience
 in
 developing,
 maintaining
 and
 using
 Centrifuge.
 The
 council

also
 serves
 to
 represent
 passive
 iNFT
 holders
 who
 may
 not
 participate
 in
 all

referenda.

Though
 Public
 Referenda
 can
 be
 proposed
 by
 any
 iNFT
 holder,
 the
 vote

needed
 to
 pass
 is
 generally
 super-majority
 carries,
 adaptive
 to
 the
 voter

turnout.
However,
when
the
Council
proposes
a
motion
and
>3/4
of
the
Council

vote
in
favour
of
the
proposal,
the
vote
becomes
a
simple
majority-carries
with

no
reference
to
turnout.
When
a
proposal
is
unanimously
voted
in
favor
by
the

council,
 it
 benefits
 from
 negative
 turnout
 bias.
 This
 requires
 a
 heavy

supermajority
 of
 nay
 votes
 to
 reject
 at
 low
 turnouts,
 but
 as
 turnout
 increases

towards
100%,
it
becomes
a
simple
majority-carries.

5.2
Council
Election



Council
 members
 are
 elected
 in
 rolling
 elections,
 with
 one
 council
 seat
 up
 for

election
every
10
days
from
the
set
of
candidates
who
nominate
themselves
by

bonding
 1,000
 iNFT.
 To
 elect
 a
 new
 council
 member,
 Substrate
 employs
 the

approval
 voting
 method
 to
 allow
 token
 holders
 to
 choose
 a
 list
 of
 candidates

they
 want
 to
 support
 in
 equal
 weight.
 The
 candidate
 with
 the
 most
 approval

votes
 wins
 the
 election,
 while
 top-N
 runners-up
 remain
 on
 the
 candidates’list

for
next
election.

The
term
of
each
council
member
is
determined
by
the
election
term
duration

and
 the
 size
 of
 the
 council,
 which
 can
 be
 changed
 through
 governance.
 This

means
that
with
an
election
term
duration
of
7
days
and
10
council
members,

one
council
member’s
term
lasts
for
70
days
(7x10).

5.3
iNFT
holders
can
use
their
tokens
to:



iNFT
holders
can
use
their
tokens
to:

●

Propose
a
public
referendum

●

Prioritize
public
referenda

●

Vote
on
all
active
referenda

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 WHITEPAPER

●

Vote
for
council
members

●

Become
a
council
member

●

Holders
can
also
stake
their
iNFT
towards
themselves
to
offer
their
node
as
a

Validator
 candidate,
 or
 they
 can
 stake
 their
 iNFT
 towards
 other
 Validators,

called
“Nominating.”

5.4
Voting



●

Submit
a
proposal

Any
iNFT
holder
can
vote
for
the
public
to
submit
a
proposal
by
putting
10
iNFT

into
their
proposal.
Other
iNFT
holders
can
support
the
proposal
by
betting
the

same
 amount.
 Each
 release
 period
 (currently
 7
 days)
 will
 be
 selected
 in
 the

public
 queue,
 and
 the
 proposal
 has
 the
 largest
 equity
 weight.
 Proposals
 are

made
by
the
board
of
directors
or
the
public.
At
each
start-up
stage,
a
vote
is

taken
from
one
of
the
proposals,
and
the
last
failed
proposal
is
prioritized.
As
a

result,
 the
 council
 controls
 50%
 of
 the
 legislative
 agenda
 
 and
 the
 public

controls
the
other
50%.

●

Enactment
Delay

Every
 approved
 referendum
 goes
 through
 a
 certain
 amount
 of
 time
 before
 it

becomes
 enacted
 on-chain.
 This
 allows
 participants
 who
 disagree
 with
 any

referenda
 to
 leave
 the
 network.
 iNFT
 in
 support
 of
 this
 referenda
 is
 locked,

Voters
should
carefully
choose
what
proposals
they
vote
for,
and
keep
in
mind

what
the
impact
referenda
will
have
on
the
health
of
the
entire
iNFT
network.

●

Fast
Tracking

In
unexpected
conditions
where
legislative
changes
need
to
be
made
quickly,

proposals
 can
 be
 brought
 to
 referendum
 immediately
 and
 in
 parallel
 to
 the

normal
monthly
proposals.
In
the
case
of
approval
by
a
super-majority
(>3/4)
of

the
Council,
a
proposal
may
be
fast-tracked
and
put
to
vote
in
the
Referendum

chamber
 immediately,
 with
 a
 far
 shorter
 voting
 period
 to
 normal
 and
 a
 near

zero
enactment
period.

●

Voting

To
vote
for
a
proposal
in
a
referendum,
iNFT
holders
lock
tokens
along
with
their

vote.Votes
are
weighed
based
on
2
criteria:


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 WHITEPAPER

1.
The
number
of
iNFT
tokens
locked


2.
The
amount
of
time
these
tokens
will
remained
locked
after
the
referendum
This
 time-lock
 voting
 is
 implemented
 in
 order
 to
 ensure
 that
 some
 minimal

economic
buy-in
to
the
result
is
needed
and
to
dissuade
vote
selling.
Voting
on

PayChian
 uses
 Adaptive
 Quorum
 Biasing,
 which
 changes
 the
 supermajority

required
 for
 a
 referendum
 to
 pass
 based
 on
 the
 percentage
 of
 voter
 turnout.

For
public
referenda,
the
positive
turnout
bias
requires
a
heavy
supermajority
of

aye
 votes
 to
 carry
 at
 low
 turnouts,
 but
 as
 turnout
 increases
 towards
 100%,
 it

becomes
 a
 simple
 majority-carries.
 We
 call
 this
 a
 “positive”
 turnout
 bias

because
 the
 required
 margin
 of
 ayes
 increases
 as
 turnout
 increases.Based
 on

the
 voting
 result,
 the
 proposal
 will
 be
 approved
 and
 autonomously
 enacted

only
after
the
enactment
delay
period.

●

Unlock
mechanism

A
 sidenote
 on
 iNFT
 locked
 for
 voting:
 iNFT
 holders
 must
 submit
 a
 transaction
 to

unlock
their
tokens
once
the
lock
period
has
ended.Holders
can
check
the
end

o f 
 t h e i r 
 l o c k 
 p e r i o d 
 b y 
 q u e r y i n g 
 t h e 
 c h a i n 
 s t a t e 
 w i t h

democracy.locks(AccountId)
 which
 returns
 the
 block
 number
 that
 the
 lock
 is

active
 until.Once
 the
 lock
 period
 has
 passed,
 any
 iNFT
 holder
 can
 call

democracy.unlock(addr)
to
unlock
the
tokens.

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 WHITEPAPER

6.Roadmap

At
present,
iNFT
is
in
the
initial
stage
of
the
project.
As
the
project
develops,
it
will

definitely
 attract
 a
 large
 number
 of
 community
 developers
 and
 users.
 We

believe
 that
 the
 iNFT
 supporter
 community
 and
 developer
 community
 have

great
potential
in
the
future.

2020:
Set
 up
 a
 team,
 clarify
 market
 and
 brand

positioning,
and
launch
the
beta
version
of

the
inft.io
official
website

2021
Q1:

Complete
product
optimization,
white
paper

and
economic
model
design

2021
Q2:

Complete
 private
 equity
 financing,
 access

to
 BSC,
 the
 official
 version
 of
 bsc.inft.io
 is

online,
and
blind
box
and
auction
products

are
online

2021
Q3:


 Complete
 the
 design
 of
 the
 initial
 version

o f 
 t h e 
 D A M 
 p r i c i n g 
 m e c h a n i s m 
 t o

simultaneously
recruit
super
nodes,
launch

the
 new
 official
 website
 and
 circulate

tokens

2021
Q4:
The
 beta
 version
 of
 DAM
 is
 launched,

realizing
 product
 iteration
 and
 ecological

expansion,
 and
 launching
 the
 creator

incentive
fund

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 WHITEPAPER

2022
Q1:
Release
 V1
 version
 of
 DAM,
 open
 node

online,
 ecological
 DAPP
 support,
 IP

incubation

2022
Q2:

iNFT
 realizes
 DAO
 platform
 governance,

realizes
 millions
 of
 NFT
 pricing
 sales,
 and

launches
DeFi
function

2022
Q3:

Physical
 assets
 are
 on
 the
 chain,
 the
 V2

version
 of
 DAM,
 and
 traditional
 financial

nodes
are
online

2021
Q4:

Official
 website
 and
 product
 update

iteration,
global
ecological
expansion.

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 WHITEPAPER

7.
Conclusion

This
 paper
 aims
 to
 make
 a
 thoughtful
 introduction
 to
 the
 construction
 of
 iNFT.

Although
 we
 have
 made
 some
 progress
 in
 a
 lot
 of
 work,
 it
 is
 completely

decentralized
 and
 de-organized.
 Its
 prospects
 and
 future
 development

direction
 is
 dependent
 on
 the
 extent
 of
 community
 consensus;
 its
 value
 is

dependent
on
the
liquidity
of
assets;
the
rapid
development
of
Defi
has
brought

new
models
and
experiences
to
asset
transfer.
We
believe
that
the
block
chain

technology
 will
 develop
 inevitably
 toward
 investment/financing
 services
 and

asset
 interconnection
 based
 on
 the
 cross-chain
 technology.
 And
 iNFT
 is
 just

designed
for
this
purpose.

17