- This is the only network that offers an award to developers
- The project has managed to raise $31 million in investment
Layer-1 blockchain Archway from Phi Labs has launched on the main network. The main goal of Archway is to provide developers with a convenient way to earn from their products. Ultimately, developers who run their decentralized applications (dApps) are rewarded in the form of tokens, which are created due to inflation, and also receive commissions for transactions on the network. These tokens and commissions can be used by developers at their own discretion.
In this way, the blockchain platform incentivizes not only validators, but also directly the people who expand the project ecosystem. Developers plan to be allocated 25% and validators 75%.
Archway co-founder, Griffin Anderson, said:
“Archway is unique in that it is the only Layer-1 network of its kind to date that provides rewards to developers, and this is integrated directly into our project architecture. This mechanism, built into the protocol, has never been implemented before.”
Anderson added that developers working on the Archway platform will get a bigger cut of the core protocol, similar to how validators and miners get rewarded for validating the network. In addition, Archway will close a notable gap in the Cosmos ecosystem with respect to a multilevel blockchain that can initially support generalized smart contracts.
In addition, Archway will close a notable gap in the Cosmos ecosystem with respect to multilevel blockchain, which can initially support generalized smart contracts.