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Answers to common questions and misconceptions about IP Note Coin — what it is, how it works, and what to know before you use it.
IP Note Coin (IPNC) is a trust-based DeFi ecosystem on the Polygon network. It lets people create on-chain promissory notes — peer-to-peer agreements with fixed terms enforced by smart contracts — and build a portable credit score from their repayment behaviour. IPNC is a community and a set of open smart contracts, not a company.
IPNC was designed and deployed by founder Inderjeet Pattiwal, drawing on a background in finance and treasury operations. But no single person "owns" the network. The contracts are deployed on Polygon and their source is verified publicly on Polygonscan — anyone can inspect exactly how they work.
Over time, control moves to the community through the Community DAO. The design principle is progressive decentralisation: nothing hands over until it can't be captured.
From your side, IPNC is a web app you connect a wallet to. Behind the scenes, nine smart contracts on Polygon handle everything:
Every step is transparent and recorded on the public blockchain.
The protocol is live on Polygon mainnet with a working dApp you can connect to today — wallet login, IP Notes, transfers, credit scoring, a reviewer dashboard, and community governance. It is a young, growing project; adoption is the next phase, which is exactly what the roadmap focuses on.
You can receive IPNC as payment from another user, acquire it peer-to-peer, or swap for it on a Polygon decentralised exchange (such as QuickSwap) once public liquidity is live. Add the token to your wallet using its contract address. See the Getting Started guide for the full walkthrough.
You should never expect to get rich from IPNC or any emerging technology, and you should be wary of anything that sounds too good to be true. IPNC is a high-risk asset with no guaranteed returns. Active members can earn reviewer fees for underwriting work, but that too is competitive and carries responsibility. Always evaluate the costs and risks yourself, and never risk money you can't afford to lose.
No — IPNC is pseudonymous, not anonymous. All transactions are stored publicly and permanently on Polygon. Your identity stays unknown only until you reveal it. In fact, this public history is the point: it's what allows a portable, honest credit score to exist.
Digital assets are legal in most jurisdictions, but rules vary widely and continue to change. Some jurisdictions restrict or license certain crypto activities. It is your responsibility to ensure that using IPNC is lawful where you live. See our Legal Disclaimer for full details.
No. IPNC is a community token and a set of open-source smart contracts. It is not a share, a security, e-money, a deposit, or a regulated financial product, and it confers no claim on the profits or assets of any entity. Nothing on this site is an offer to sell or a recommendation to buy.
Even though IPNC is not an official currency, most jurisdictions still require you to pay income, capital gains, or other taxes on anything of value, including tokens. You are solely responsible for determining, reporting, and paying any taxes on your IPNC activity. Consult a qualified accountant for your jurisdiction.
The protocol itself runs on Polygon and can't be unilaterally altered. But the use of IPNC can be regulated like any other tool, and it will be subject to the same evolving rules as the wider crypto space. IPNC is designed to be transparent and auditable, which supports — rather than resists — sensible compliance.
Unlike Bitcoin, IPNC is not mined. The total supply of 7.69 million IPNC is fixed and already exists on-chain. No new tokens can be minted without a DAO-approved economic event — the minter role is gated behind community governance. There is no inflation by default.
Like any money, IPNC's value comes from usefulness, scarcity, and adoption. It has a fixed, transparent supply and powers a real system — on-chain credit, notes, and reviewer incentives. As with all currency, its value ultimately comes from people willing to accept it. That means it can also fall.
Supply and demand. Because IPNC is a small, young market, it doesn't take large sums to move the price up or down — so it is very volatile. Price stability tends to come only as an economy matures and liquidity deepens.
Yes. Any emerging asset can fail due to technical problems, competition, regulation, or loss of confidence. No token should ever be considered absolutely safe. Only commit funds you can afford to lose entirely.
No. A Ponzi scheme pays earlier investors from later investors' money and relies on a central operator making false return promises. IPNC is an open-source project with no central authority, no guaranteed returns, and no promise of profit. Its value floats freely and can go up or down. Beyond speculation, it's a working payment-and-credit system.
No. Like most tokens, IPNC is divisible into many smaller units, so a fixed supply doesn't limit the number or size of transactions the network can support. Divisibility means the economy can grow without needing more whole tokens.
When you receive IPNC, notification is near-instant, but the network needs to include the transaction in blocks to confirm it. Each new block on top makes the transaction harder to reverse. Polygon blocks are fast (a couple of seconds each). For higher-value transfers, wait for more confirmations before treating a payment as final — see the table in Things You Need to Know.
Network (gas) fees on Polygon are typically very low — a fraction of a cent — and are paid in POL (MATIC), not IPNC. Separately, the protocol has its own speed tiers for transfers: Instant, Standard, and Economy (0.30% / 0.10% / 0.02%), letting you trade cost for speed. You always see fees before you confirm.
No. Once confirmed, an on-chain transaction cannot be reversed — it can only be refunded voluntarily by the recipient. Always verify the recipient address and the note terms before you sign. Only transact with people and organisations you trust.
That's fine. Tokens aren't stored on your device — they live on the Polygon blockchain. When you next open your wallet, it syncs with the network and the balance appears. Your wallet is only needed when you want to send.
Reviewers are IPNC's decentralised underwriting layer — the equivalent of the people who assess a loan, but open to the community. High-standing members review notes routed to them by transaction band, approve or decline them, and earn fees from the on-chain ReviewerPool. It replaces a central credit committee with a transparent, incentive-aligned network.
Reviewer eligibility is earned, not bought. You build a strong credit score by using IPNC and settling your own notes on time, then check the Reviewer dashboard in the app to see if you meet the thresholds and opt in. See the Getting Started "Earn as a reviewer" track.
Routing each note to qualified, incentivised reviewers means no single party controls who gets credit, and poor decisions cost the reviewer their standing. It keeps underwriting honest, distributed, and aligned with the health of the whole system — much like how decentralised validation keeps other networks neutral.
The Community DAO is how members govern the protocol — proposing and voting on changes and on how the reserve is used. As token distribution widens, the DAO takes on ownership of the Reserve Pool under timelocked governance. This is the mechanism through which IPNC becomes community-owned.
The protocol runs on Polygon, a mature, battle-tested network, and all nine IPNC contracts are verified on Polygonscan so anyone can audit them. An independent CertiK audit is being pursued ahead of public launch, and a multisig migration is planned so no single key controls the protocol. As with all crypto, the most common risk is user error — protect your keys.
The contracts are designed with no honeypot, no hidden taxes, no blacklist, and no self-destruct functions. Because the source is verified publicly, these claims are open to independent verification by any developer or auditor.
If you lose your recovery phrase, no one — not IPNC, not anyone — can recover your funds or your account. Self-custody means you are in full control, which also means full responsibility. Back up your recovery phrase offline and never share it.
Like nearly all cryptographic systems today — including traditional banking — IPNC relies on cryptography that a sufficiently powerful quantum computer could theoretically threaten. Such computers don't practically exist yet. If they became an imminent threat, the underlying networks and standards would be upgraded to post-quantum algorithms, as would the wider ecosystem.
Join the community or reach the team directly — we're happy to help.
