What is archway?
Archway is a Layer 1 blockchain platform built to enable developers to derive value from their contributions to the network. The platform focuses on prioritizing developers by allowing them to earn income based on the volume of transactions they generate on the network.
Archway uses the Cosmos SDK, WebAssembly (Wasm) and Rust to deploy the smart contract chain. With support for over 40 high-level programming languages, developers have the flexibility to develop applications on the Archway platform. In addition, Archway integrates natively with the Inter-Blockchain Communication (IBC) protocol, allowing the exchange of assets and data with other blockchains in the Cosmos network easily.
Archway’s goal is to expand the Cosmos ecosystem by providing an infrastructure where developers can quickly build and deploy decentralized applications that connect to multiple Cosmos chains.
Archway’s special feature
Rewards for developers
Archway aims to ensure that dApp developers receive fair rewards and incentives. dApps can earn a portion of transaction fees and inflation rewards by contributing to the Archway network. This creates a shared monetization model that allows dApps to receive periodic rewards and have an actual stake in the underlying protocol. In this way, dApps can not only create value for the network, but also participate in the success and growth of the Archway community.
Gas fee refund
A unique feature of Archway is the division of gas fees collected between dApp developers and validators. Instead of burning or distributing gas fees outright to validators or miners, Archway shares gas fees fairly. When a transaction occurs on the Archway network, the gas fee collected will be split equally with 50% for dApp developers and 50% for validators.
The network provides configurable parameters that allow to adjust the distribution of gas fees between validators and dApps over time. This is to optimize gas fee distribution and ensure a balance between participants in the Archway network. In this way, Archway creates a fair ecosystem and incentivizes both dApp developers and validators to contribute to the network.
Inflation bonus
On the Archway network, the overall inflation rate follows the design of the Cosmos SDK and depends on the percentage of tokens staked on the network. Typically, the inflation rate on Archway can range from 7% to 20%, depending on the percentage of tokens staked on the network.
In inflation reward sharing, Archway sends a portion of the total reward to dApps directly. At the start, the reward distribution ratio is 25% for dApp developers and 75% for validators. For example, if the annual inflation rate is 8%, then 2% will go to dApps and 6% will go to validators. These values can be adjusted via network administration and the parameters are configurable.
The rewards of dApps will be distributed based on the relative proportion of gas fees generated by each dApp over a certain period of time. However, each dApp will have a maximum inflation reward cap to mitigate potential Sybil attacks and ensure that spamming transactions or contracts do not achieve excessively high returns.
Smart contract premium
Archway allows dApps to define custom fees to interact with their smart contracts. These fees provide the flexibility to the developer to cover additional costs such as distributed storage, access to off-chain processing, external data sources, or premium features such as Contracts are audited and insured.
The contract premium also opens up the possibility of monetizing individual contracts, which can be integrated across multiple dApps, and earning income from the users or services that interact with that contract.
By default, the smart contract fee is set to 0 $ARCH. On initial deployment, dApp developers can define their own fees. The fee is configurable and the dApp owner can adjust it at any time, even after the contract has been deployed.
To optimize user experience, smart contract fees are embedded directly into network fees, so users only need to pay a single fee when signing a transaction.
Archway’s Emerging Ecosystem
The Archway ecosystem continues to expand with dApps across various categories: NFT, DeFi, DAO, social, games, ReFi, key developer tools, bridges, wallets, oracle, and more.
After the protocol was implemented, Archway attracted more than 100 dApps and tool solutions, which projects committed to building on the platform. In April, the Archway testnet recorded over 400,000 contract executions, indicating a vibrant growing ecosystem.
Development team
Archway was developed by Phi Labs, a team that split off from the Tendermint development team.
Investors
Archway has successfully raised capital with the amount of 21 million USD from leading investment funds. Notable investment funds include Hashed, CoinFund, 1Confirmation, IDEO CoLab, Blockchain Capital, Wintermute, Figment, Chorus One, Lemniscap, Hypersphere Ventures, and Cosmostation.
Tokenomics
Token details
Token Name: Archway
Ticker: ARCH
Blockchain: Cosmos
Token Standard: Updating…
Smart Contract: Updating…
Token type: Governance & Utility
Total Supply: 1.000.000.000
Circulating Supply: Updating…
Token Allocation
ARCH inflation plan
Token widget
The ARCH token in the Archway protocol has four core functions:
Security: ARCH tokens are used to support proof-of-stake consensus and provide economic security to the network. Token holders have the ability to stake their tokens with validators, ensuring the decentralization and security of the network. To gauge the value of their contributions, incentive rewards are distributed programmatically to validators and bettors.
Governance: The ARCH token plays an important role in protocol governance. Token holders can submit governance proposals and participate in on-chain voting. Only staked ARCH tokens can participate, and voting rights are determined based on stake, allowing the number of single-stake ARCH tokens to influence the decision.
Transaction Fees: The ARCH token is used to pay transaction fees on the Archway network, acting as a spam prevention mechanism. These fees are proportional to the amount of computation required by the transaction, similar to the concept of “gas” in Ethereum.
Developer revenue: Application developers can earn a portion of the revenue from the protocol, which includes inflation, transaction fees, and smart contract premiums. This revenue is distributed to developers in the form of ARCH tokens.
Project information channel
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Website: https://archway.io/
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Twitter: https://twitter.com/archwayhq
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Discord: https://discord.gg/5FVvx3WGfa
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Telegram: https://t.me/archway_hq
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Blog: https://blog.archway.io/
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