The INS price update as of now is $0.000001410. In the previous 24 hours, its trading volume was $131, and its value has increased by 15.56%. As of now, INS's live market cap is $1,410,100, and it is ranked as the #5255 on the Coincu. INS has a circulating supply of 1,000,000,000,000 and a maximum supply of 1,000,000,000,000.

Insolar: iNFTspace - A Digital Artwork Trading Platform

Insolar introduces iNFTspace, a trading platform for digital artworks (NFTs) that operates on a decentralized autonomous organization (DAO) incentive model. This platform aims to emerge as a leading global contender in NFT trading, challenging the dominance of Opensea. By harnessing the collective power of the DAO community and transaction mining, iNFTspace ensures enhanced liquidity and community engagement, facilitating the participation of artists and enthusiasts in the NFT trading landscape.

The Influence of the DAO Community

The iNFTspace DAO community comprises the founding team, NFT artists, NFT collectors, digital art brokers, and community members. Through a system that rewards active participation, iNFTspace encourages different members to actively contribute to the platform's ecosystem development.

Phases of Development and Incentive Mechanisms

During the initial development stage, when the balance of the transaction mining pool is equal to or exceeds 50%, open transaction mining rewards are provided. This effectively incentivizes the community and encourages more users to engage in transactions, fostering the internal cycle of ecosystem development.

In the intermediate development stage, when the balance of the transaction mining pool ranges between 50% and 30%, the pace of mining rewards reduces, and NFT royalties come into play. The introduction of NFT royalties aims to fully incentivize NFT artists and platform brokers, amplifying the platform's value creation.

During the stable development period, when the balance of the transaction mining pool is less than or equal to 30%, the mining pool release is finalized, and the INS stable deflation is activated. At this stage, 1/3 of the platform transaction fee is allocated to reward INS holders, 1/3 is earmarked for platform operation, maintenance, and market promotion, and the remaining 1/3 is destroyed.