Coinlist: An In-Depth Explanation of Archway, the Native L1 Public Chain of Cosmos
Archway, the Native L1 Public Chain of Cosmos, explained on Coinlist.
Source: CoinList, Translation: Blocking0xxz
On May 26, 2023, CoinList announced that the Archway token sale would begin at 23:00 on June 15th, Beijing time.
What is Archway
Archway is a Cosmos-native L1 blockchain that enables developers to capture the value they bring to the network through a novel, developer-centric economic model.
Archway Token Sale Information
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The token sale will begin at 17:00 UTC on June 15, 2023.
Supply: 30 million ARCH tokens
Price: $0.2 per token
Lock-up and distribution: A 40-day lock-up period, during which 25% of tokens will unlock at distribution, with the remaining 75% unlocking on a linear distribution schedule over 8 months.
Registration deadline is 12:00 UTC on June 12, 2023.
A Closer Look at Archway
By allowing developers to earn revenue based on the transaction volume they create on the network, Archway is cultivating a developer-centric ecosystem. Archway believes that developers create significant value for underlying L1 blockchains and should be able to directly capture some of that value. With Archway, developers can earn corresponding revenue based on the transaction volume they bring to the network. Archway is the only true developer-first L1 network and seeks to be the preferred chain for developers to build and release their first dApps.
The protocol provides developers with a variety of tools to quickly build and deploy scalable dApps and immediately benefit from their use. Archway’s primary goal is to cultivate a diverse range of self-sufficient applications by providing developers with a way to grow with the protocol.
The novel, developer-centric token economics – whether it’s smart contract premiums or developer-distributed inflationary staking rewards and gas rebates – ensures that dApp developers receive a fair share of protocol revenue. In contrast, existing L1 protocols allocate almost all of the value they generate (such as gas fees, rewards) to validators who secure the protocol, making it difficult for decentralized products released by developers to quickly capture value, despite potentially receiving some initial attention. By developing and building on Archway, entrepreneurs and developers can realize tangible benefits from the protocol’s own development and governance, without having to go through the hassle of launching an independent application chain from scratch.
Archway is a thriving and growing ecosystem – attracting developer activity can be a challenge for a newly released protocol in a world where new L1 networks seem to emerge every day. As the only L1 chain centered around developers, Archway has already seen rapid growth and adoption ahead of its mainnet launch, with over 400,000 testnet contract executions per month (as of April 2023). Additionally, over 100 dApps and tooling solutions have committed to building on or integrating with the Archway network upon mainnet launch, with use cases including liquidity staking protocols, NFT marketplaces, DEXes, and more.
The native utility token, ARCH – ARCH token holders will play a critical role in the security, direction, and functionality of the Archway network. ARCH will be used to support the network’s proof-of-stake consensus and validator staking to ensure decentralization and security. Additionally, ARCH will be used for governance participation, payment of transaction fees, and incentivizing transaction volume generated by developers on the network.