Layer 1 Blockchain Archway Is Now Live On Cosmos Ecosystem

Key Points:

• Archway, a Cosmos-based incentivized smart contract platform, has launched its mainnet.
• The blockchain aims to reward dApp developers and validators with its token supply.
• Archway’s protocol utilizes a value capture engine to calculate gas generated by smart contracts in dApps and distribute tokens accordingly.

Archway, a Cosmos-based incentivized smart contract platform, has launched its mainnet.

The network intends to dedicate a part of Archway’s token supply to decentralized apps, with 25% going to app creators and the remaining 75% going to validators.

Developers that create apps using Archway, according to Archway co-founder Griffin Anderson, will have a major interest in the underlying protocol, similar to how validators and miners get paid for verifying the network.

On March 24, Phi Labs concluded a $21 million initial round of funding headed by CoinFund and Hashed, with participation from 1confirmation, IDEO CoLab, Figment, Blockchain Capital, Wintermute, Chorus One, stake.fish, Lemniscap, Cosmostation, and Hypersphere Ventures. The increased funds would be used to expand the company’s employees, create new products, and build up the Archway protocol. The team presently has roughly 20 full-time personnel, with hopes to increase that number to more than 50 by the end of the year.

The Archway protocol, invented by Phi Labs, is considered to be an incentivized smart contract platform built on Cosmos and paying developers. Its dApp developers will be paid in proportion to the value they generate. The value capture engine module, in particular, allows the protocol to compute the amount of gas created by each smart contract in the Dapp and immediately transfer the proportion of tokens gained via time distribution to the wallet address of each relevant smart contract.

For example, if a developer creates a stablecoin project utilizing Archway’s infrastructure, the network will give ARCH tokens to the originator every time a stablecoin is moved. Moreover, if a contract on Archway is called by another contract, both the calling contract and the originating contract will get ARCH tokens. This implies that if the stablecoin is utilized on another network’s dApp, both the stablecoin issuer and the calling contract will get ARCH.

There are many ways that project owners might use ARCH incentives to enhance the economics of minting, transferring, and burning stablecoins. Stablecoin issuers, for example, may choose to deposit their ARCH rewards into a reserve pool, and these ARCH tokens can then be utilized for specific DeFi transactions through issuance/transfer.

Earlier, on June 16, CoinList began selling ARCH tokens. Last year, CoinFund and Hashed launched a $21 million seed round for Archway creator Phi Labs.

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