Archway Encourages Dapps With Developer Rewards (IR rough translation )) — I did my best to polish — it really takes a lot of time ((with I — hope — with smooth instructions)
1st
Welcome everyone to Just Crypto. My name is Vanessa. We’ve got an awesome show today — our Archway isn’t incentivized layer one blockchain that enables sustainable economic models by sharing the values created with developers . Today we’re joined by Dan Edelback who is the director of the ecosystems at Phi Labs. He’s also been a growth leader for the last six years whether it’s leave ecosystem at PSI or working on Sentinel which is a decentralized VPN. So lots of cool experience we’re excited to have you here on the show today Dan.
Awesome thanks loveliness yeah it seems like it’s been even more than six years where everyone goes deep.
So it’s not often I have folks on my show who you know start with a six-year resume so i’ll let us know how that Journey has been — lots of twists and turns are I’m sure but how did you get into crypto where has it taken you so far.
Yeah that’s one thing i actually really love about crypto is how organic it is and how people come to this space — from like lots of different paths
then — from kind of finding the power of the technology from lots of different Avenues. Mine’s kind of unique as well — I was serving in the Peace Corps which the United States is a international service organization where you do development work abroad and i was local working with small entrepreneurs in Costa Rica. And during my off time I was kind of researching finance and I was researching emerging technologies and stumbled on the crypto rabbit hole and then started getting really involved in communities. And so I kind of came up in my career a lot of people that I’ve mentored people that have had a lot of success in web3 have come up through taking on just a supportive leadership roles within communities. And the first community that i was involved in was @SALTLending which is like the one of their initial lending protocols built on Eth back in 2017.
Awesom — Awesome. So did you come in through Etherium or did you come in through Bitcoin like what was your initial Journey like?
Same question Bitcoin I thought was too expensive yeah I think Bitkoin was like a thousand dollars I’m like that’s way too much money I’m not buying that.
Un That’s a hard lesson and many of us have had to learn yeah.
I remember buying initially just like when i was learning about the space and try to like play around with the tech — on Litecoin and eath but back in the day — on like Coinbase those are the only assets that were available was really — Bitcoin Litecoin and Eve that was before the Bitcoin Fork yeah and I wasn’t able to do iti wasn’t able to get like register to figure it out on Coinbase and so i ended up having to buy it from a friend like months later and it was like 27x the price to buy the same four month later.
yeah it was their early 2017 days.
Story crypto. Since we are in crypto I do want to put this on the screen and just let you all know that this channel is about learning not far more — so put your thinking cap on put your wallet away. Nothing we talk about here is financial advice neither Dan or or finansial advisors. So do not do anything like taking financial advise from us. We have a bunch of new people here who are alive in chat we love to know if you here joining us live in chat — drop a Hi! let us know thay you’re here. We will be taking questions and comments throughout . So if you have any thoughts or questions you know — about Dan’s experience or Archway or anything we get into. Please let us know. We’ve got South Padre Tony also a member of the Monery Community Care we are presenting. I welcome South Federal Tony, Captain Sparrow — great to have you here — as always a great member of Kujira community as well and we’ve got Aru — he is supporting Archway . This thing is awesome and that he’s thoroughly enjoyed participating in the recent hackathon that you’re handsome welcome everyone to the show so let’s get into Archway and that’s why we’re all here. What is actually Arcway?
Yeah — no — I appreciate it — Vanessa. So actually it is like you said a layer one blockchain. It’s based layer infrastructure for any adaptive builder to be able to build and develop and deploy any unique decentralized application — but with the developers at the forefront and in the design of the model of the layer one. So the on-chain transactions that developers create by the applications they bring to Market that revenue is brought back directly to the on-chain to the dapp developers. And so Archway is thinking about a blockchain in a very different Paradigm than a lot of the other kind of like eth killers or alternate layer ones that are just kind of competing on transactions per second or competing on the amount of
you know the time to fatality for funds to settle on chain.
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Archway is thinking about how is the economic model designed so that it’s sustainable and actually bringing a lot of like traditional financing traditional web2 thinking to the to the blockchain space. So if you are an application and you’re bringing something to Market getting a lot of users you should be generating Revenue should be participating in the upside in that and it is kind of flips the the model of the the you know the paradigm of a fat protocol thesis where all of the value is going to accrue back to the layer one and even if you’re building great applications on on top the values getting accrued to the layer one. Archway flipped that model where the DAP developers and the applications that are bringing value are actually the ones that are receiving that value.
Awesome - so let us unpack that a little bit — it sounds like the developer is at the center of ecosystem — as it were — how does that value come to them — I mean nothing’s free right with the Meta right now - in defines real yield — so where does the real yield come from for these fancy building chain?
Amen — so it’s in the design of the chain itself so there’s modules built into the chain that track gas fees and track overall transactions that are able to then calculate them so that all of the activity that is happening on the chain whether that’s gas that’s spent on chain whether that’s the security from the inflation from how securing the chain via the validators or the Revenues that can be customized by the smart contract developers the value from those are directed back to the smart contractor — smart contract developer address. So those 3 specifically half of the gas that spent on the network when I’m transacting and using Arch as the gas token of the layer one blockchain half of that gets distributed back to smart contract developers and the other half will actually be burned to think about long-term sustainability of the token and there’s also not an extreme inflation so there’s limited inflation but it’s it’s variable based on the amount of activity on the network but 25 percent of the inflation Rewards or the inflation yield to secure the chain also goes back to smart contract developers and then another large way that smart contract developers are able to generate Revenue is by customizing a smart contract premium. So what they’re able to do is create a essentially like to road like a fee to be able to interact with their smart contract and they can set it really high and then people might not use their apps and they could send it really low if that’s the best user experience but they can customize the fee to be able to interact with that smart contract. So every time that people are actually using your applications and generating activity on chain that values being brought back to the app developers. So I think it’s a really unique model and it’s really exciting because we need more sustainable economics — I think — in this space.
Amen to that for sure so you’ve talked a little bit about developers and why this might be an interesting change for them to look at. But what about end users because — you know — obviously end users are not on going to care necessarily that developers are getting paid maybe as a second order. I think and they’re just looking for great experiences at the cheapest price I think it is so talk a bit of
the end user in all of this as well.
Yeah 100 percent — and I think that we’ll see I do think that end users are going to care that the apps that they’re using have a good user experience that they’re able to be maintained and sustained over time and that are quality applications — and if you’re incentivizing to app developers to actually build and iterate and continue to innovate and bring the best products to Market those are going to gain traction over time but user experience is crucial — I think that that’s been not only unsustainable economics been challenges across the crypto space but you access something that has always been a challenge and that’s something that is very top of mind for nova helpers that are building an Archway
and so for the end user we’re looking at a build or seamless user applications and more seamless user experiences and one thing that has been awesome and that I feel very fortunate is that I’m the director of ecosystem at Phi Labs and Phi Labs as a contributor to the Archway protocol but Phi Labs was initially incubated out of Tendermint
which is really simply current organization within the light broader Cosmos ecosystem and built out a lot of the core technology including the components of the Cosmos software developer kit and so a lot of the key engineers that were at tender men are now working you know wholly independently at five labs so we have a really stacked roster of strong engineers what that does is then why applications are looking to build on cosmos maybe they don’t have experience building customers and smart contracts or they don’t they need some support on front end development we have a really strong team to help them when I’m actually getting their products to market and making them you know a really great us so we’re also not only blockchain that has really good economic design for developers but where the core protocol development company has strong engineers to prevail to provide support for developers.
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I’m curious how big is the team itself you know how many engineers are on the team.
Yeah so if Phi Labs I think it’s around 35 people on the team . Yeah it’s like 20 so it’s a really strong engineering team — a really strong team you know across the board but being very blessed I think to be able to be on a team with a long-term vision that are thinking about building products and think that have a good you action that are sustainable and that are thinking
and I think that a lot of change right now or are kind of trying to think about where they fit within like a crypto hype cycle and that’s definitely not the mentality of the team at our at Archway and Phi Labs thinking more about what are good products that people are going to use and how do they get improved over time.
You mentioned kind of smoothing user experiencing over the user experience obviously we have some challenges in the Cosmos with the multiple chains in the interchange. What are some specific things that Archway is doing to make that experience better for end users?
Yeah and I wonder if some of the people in the chat here have claimed the Archway airdrop? Archway blockchain went live 2 weeks ago on actually almost coming up in 3 weeks now and the mainet at launch went incredibly smooth getting all the validators bootstrapped and securing the chain validating blocks was incredibly seamless and there’s a front end connect dot archway dot io to be able to stake tokens to be able to claim the airdrop other people interact with the chain and that was built opera primarily by the Phi Labs team and that experience for going through the permissions to be able to claim the different aspects of the airdrop we’ve got a lot of feedback was really seamless and the ability to interact with applications an Archway we’ve gotten a lot of feedback has been really seamless so taking into account just the overall user interface taking into account i like connectives with like wallets and different applications and then also just getting feedback from the community on like what what like user flows makes sense so there’s a lot of like back and forth interaction with community members.
Awesome — I had lots of good things about the overall experience unfortunately being in the US I didn’t get to experience that I would never recommend anyone use VPN at all — to sercumvent these regulations — so you’ve talked a bit about that now Cosmos obviously you you have got a large part of the Cosmos team the tenement team — sorry — who joined in is helping out — but was there a particular reason that you all chose Cosmos instead of say — a layer 2 on ethereum - for example within a fair amount more liquidity from users.
Yyeah yeah — no definitely and actually for context Archway has been in development offer two and a half years now and the founder of kind of the idea behind Archway is the CEO of Phi Labs Griffin Anderson really smart guy he actually did come from the ethereum ecosystem and the reason that he decided to build Archway was because of that for australian he saw people building great applications like people taking the unitswap building great applications and such a small percentage of the value they’re bringing to the network is being captured by those developers and he saw a lot of east wales that you know were a part of the ethereum ecosystem early on hoarded a lot of tokens and really captured made a ton of money but stopped focusing on development and kind of moving the protocol forward and he thought of kind of the fat protocol thesis is not the right design for sustainable economics for sustainable development and actually Griffin then moved from working within consensus in the Ethereum world to one of the earliest employees at tenement to the value of being able to customize your own layer one blockchain seamless interoperability with i b c and the broader vision for the cosmos tech stack and then when he had that realization he thought this is an opportunity to provide a better model for developers and yeah that was I guess like the beginning of 20–21 when it all kicked up.
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There’s definitely some reasons that Cosmos — I think — he’s got some potential against Ethereum that political thesis maybe being that the fat cats )) got fat and now they’re kind of lazing around one of the hottest prospect.
I want to greet Prospector. Aru Basu joined us as well good morning welcome and Aru has been digging into a lot of the wallet and the branding and he’s been very impressed with what he’s seen and you know definitely supporting a perspective that the engineers on the team aren’t necessarily rookie shot there there I’m pretty well seasoned folks but i didn’t have to ask and perhaps of the continent’s original question which is why do we need another layer one and you know I know the value that that you’ve talked about developers up and honestly between you know the theory of sweet apple twos you’ve got neutron and injecting and you’ve got Solana and Coronado Polygon and the list goes on and on… why do we need another one?
Yeah — So it’s it’s about thinking about the blockchain space 5 years down the road 10 years down the road right now for better or worse a lot of the activity that happens in the in the like broader broad blotchy spaces like a lot of speculation and kind of like price speculation around NFTs around tokens or it’s more just like a large kind of like an almost gambling environment but I think that blockchain is a really new technology that’s going to bring a lot of traditional businesses to leverage the technology and we haven’t seen that fully take off yet but real world assets and deeds Ithink
the the like traditional markets and the the the like foreign markets are going to go on chain I think a lot of technology a lot of information is going to be tracked and stored on chain but we need a base layer infrastructure that is that is going to be sustainable and where you’re not having you know hundred and five for one hundred and fifty per cent annual yield and the tokenomics that is the design of the top economics is totally unsustainable or where you’re not that does fly in the face of kind of the thought process around the fat protocol thesis so it’s it’s really about building a chain that has launcher economic design in place so that app developers can succeed and build their own applications and benefit from that and then in doing so app developers might not even need to launch a token you can watch an application gain traction on it and then earn arch rewards by the traction that your application in and of itself is doing use that to cell phone use that to create sub dollars use that to incentivize lower gas fees for transactions on your application there’s a lot of things you can do with rewards that’s totally up to you but being able to design a layer one that is thinking long term about how we’re bringing theresa will businesses on chain and how the models are going to be sustainable I think is really important because I think that these crazy hype cycles and these crazy like in inflationary designs are not going to be the answer you know in the long run if our industry is going to continue to stay relevant.
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This function either from community He who point to the fact that Ethereum has essentially harmer than you as the chain as something that will drive sustainability forward into the future basically the argument goes something like — if you change something making any revenue how are you going to pay the people who maintain the security of the chain and at some point that’s going to fall apart once in my inflation and disappears. So how does the Archway team maintain and giving a decent amount of the inflation to developers a portion of the gas fees to developers — how is this sufficient revenue for actually the team itself and sufficient revenue for the Arcway team itself?
Sufficient revenue for the Phi Labs team?
Yeah — the finance team — the folks you mentioned who you know building all the awesome stuff on Archway?
Yeah yeah — so if Phi Labs fortunately is as well funded as an organization and there is a fundraise that happened a little over a year and a half ago twenty one million dollars and then there was also a public sale of the token on Coin list at ten million was raised there and there’s also probably more announcements around funding that is going to happen so the team itself is as well funded but i think it’s not just about the core development team’s funding i think that like that is definitely top of mind for their core development team and making sure that Phi Labs is well funded over time
but the if the Archway protocol is going to succeed it’s not going to succeed solely on the backs and the development of efforts of five laps there’s going to be more multiple development companies contributing to the ecosystem of the sub dials that are contributing as far as governance and as far as direction of the protocol there’ll be lots of advice helpers
that are consists also helping with some of the tooling and infrastructure and support of the chain but i think i do agree with your initial appointment as around unsustainable economic models and like high inflation is is not going to be the right design long-term and i do think that actually some of the theorems like yappy one five five nine and the token burn based on the use of john chain that that inspired the design for the Arch token for gas gas fees — gas fees are sent to smart contract developers
and then fifty percent and fifty percent are burned in a very similar yeah p one five five nine fashion and that’s as far as the token inflation you’ll goes but what the Arcway protocol is really focused on is that the economics are sustainable for dap developers to build on the protocol and then the inflation is capped based on the amount of chain usage of oil and gas consumed on the network —
but to your point Vanessa — if we have great sustainable economic design and then no one’s using the archway blockchain then even if the actual blockchain could theoretically thrive for decades as far as existing it wouldn’t have much of a purpose so the idea is that yeah the art the protocol itself is gaining a lot of usage and then that gas consumption and the smart contract interactions are actually funneling back to the developers.
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Let’s talk a bit about those applications because I know when we chatting before the show you said we want to make sure we talk about the applications being built an Archway and I do not know if you have a couple in mind that you want to talk of if there is a longer list we can get into different classes of applications and if you would like to screen share that options available as well for you so whatever you like to take this down — tell us about the applications.
Yeah — no absolutely I appreciate there’s a huge list of projects that are excited to build an Archway — though it’s kind of the last few weeks we’ve been really focused on mainet but prior to that and in june i’d heard that it was like something like 101 different applications and dapp development teams that have committed to building an Archway and we’re seeing that across a lot of different vertical so there’s accustomed wallet this built for the Archway ecosystem architect’s wallet and you can download that now on mobile devices google play and and iphone
and it’s really cool and it has native integrations is a lot of the dapps and deploying an Archway a unique amen that uniquely takes rewards initially benefits from the economic design of the Arcway protocol just launched right before this call called astral vault definitely encourage people to check that out it’s a native application on Archway for swapping and vaults and being able to get your tokens but astral vault is really cool EVM and is and is incorporating the art economic design to have I value being brought back to the protocol.
and
I just wanted to pop on the screen briefing that the first how could you talking about which is the mobile npr saying this is the the wall and experience definitely looks like a fairly friendly experience i know these are just screenshots from now on but it’s not a two degree camera in any manner they haven’t both favor with a recent upgrade so I think an alternative is important to that and then the other folks that you are mentioning
I asked about here i guess you have to connect your wallet to start but this is where they’re at i’ve included a link to an entree and to their twitter account down in the description so if you are interested in an play
with any of these applications and checking them out there’s a way to get there i think you recently posted on the onto my twitter about some of these applications as well sorry i didn’t mean to interrupt you there I just wanted to show folks that you know some of the applications.
I love it Vanessa — I appreciate it yeah — and we have a couple of different liquid taking derivative applications that could finance and and stake easy are both applications that are doing are unique derivations on liquid staking and being able to still participate DeFi on-chain engagements while being able to stake and secure the chain so I’m pretty excited about those.
PeerSwap is a really unique protocol it’s an OTC platform (over the countre) where you can sell all your ARCH for more than maybe it would other exchanges or someone who is willing to take your OTC order but kind of a a really cool peer-to-peer OTC platform
and then there’s a lot happening in the NFT space evolve NFT a launchpad and an NFT marketplace people pipapo is doing ticketing and on chain with NFTs and where there’s TFM is they’re they’re doing NFT aggregation and they’re doing really cool work across multiple chains and I think they came out of the Terra ecosystem and yeah there’s there’s just a wide variety of applications that are coming yeah and so TFM you can see
all the different cross chain and NFTs and they they’ve integrated on an Archway and so yeah there’s a lot of applications that are still in the works that are working to deploy and you’ll be hearing more about a potential opportunity to you benefit from joining in and trying these applications and getting some cool opportunities for the community to benefit from getting involved in those applications so keep your eyes and ears peeled
and there’ll be some announcements in the in the coming week or two but really excited about that it’s going to showcase them breath of applications and things you can do on the chain.
One thing I was surprised to hear when you mentioned 110 different applications that’s a lot for a chain that’s essentially just been born so I have to ask how did you accomplish that because it’s quite impressive?
Yeah — well a lot of work and it’s I definitely I’ve kind of we’ve taken a lot of notes as far as how to connect with teams understand what they’re looking to build and then what is their process to bringing app to Market — and it’s out of that 110 it’s a mixture of applications that are native and exclusively building an Archway and then applications that are growing cross-chain that have already launched another change or that are preparing to launch and are going to go multi-chain but it’s definitely been a concerted business development effort and so out i’d like lots of outrage lots of marketing trying to share the Archway mission
and a lot of oubound Business Development Work and then also we’re getting a lot of referrals and inbound Business Development Work opportunities and so so it’s been really cool I think that when you find dab King is really excited about Archway they really understand the vision and they become really loyal and they start sharing the opportunity to deploy on Archway with other people they know that are developing early-stage applications and so it kind of funnels from there but it’s yeah it’s been kind of round the clock work. Actually Max cryptocam is leading a lot of our business development efforts he’s a rockstar and he’s out in Paris right now for ECC so yeah a lot of boots on the ground.
Awesome. A lot of hard work has gone into that you know I’m curious we’ve gone Cosmos itself and the connections there aren’t any applications that are currently building Archway connecting outside of the Cosmos to Ethereum with the machines?
Yeah — so we’re in talks with a few different teams to grow like cross-cosystem and if you know a Landslide they’re doing really cool and work on broadening the IVC ecosystem from Avalanche and they run an avalanche subnet and are connecting teams and to IBC and that’s really awesome and then I composable Finance is also doing a lot of integration and cross chain-work connecting the Polcadot parachain ecosystem to IBC and so
I think IBC obviously is going to continue to grow and gonna continue to flourish and there’ll be a lot of opportunities where you can natively deploy an application you know on near when when that integration is completed and then have the transactions happen and settle on an IBC enabled chain. So we’re definitely working with both composable and Landslide and I think that there’s a lot more happening on the some of the team at and his development team is also working on like broadening the access to the broader IBC.
So the opportunities are there going to continue to grow and I think that Cosmos-based chains are also going to be a lot more accessible that’s been one of the bigger issues I think in crypto is having to download a whole new wallet. I ’d have a new user experience when you come into the Cosmos ecosystem and Metamask is working on integration call them as snaps which will allow for seamless use using usage and functionality of Мetamask for obviously enable change so I think that the you know the horizon is bright for cross-chain applications and like interoperability and thу user experience barriers continuing to lower.
I have folks say that basically either you’re an EVM chain or ethereum compatible or your IBC compatible and like those are the symptomps of gravity at least currently in the world.
Yeah yeah — and I think that hopefully they they won’t be as like directly like butting heads as there will be a lot more like composable and like seamless and I think that a Metamask snaps is going to be a big step forward and providing a better user experience.
Now you mentioned a little bit about DAOs on Archway and i’m curious what the governance on the chain itself looks like and how centralized is what the plans are further decentralize for example who gets to control which kind of is deployed to the chain — is it all on Arch token holders is there a multisync you know those kind of questions so let’s talk a bit deeper into that.
Yeah — no I appreciate that Vanessa — and that’s something that’s evolving in real time for sure and yesterday was — I think — the second governance call all that happened since the chain went live and they are open to anyone in the community to participate in to contribute in some of the kind of initial structures and frameworks are getting in place around like ground rules and but right now the Arcway Foundation is a separate organization that maintains some of the Archway foundation treasury is collaborating on kind of building the structures and providing a governance framework and then yeah there will be a community pool that Arcway token holders and stickers will be able to use to vote on proposals and what they can what what kind of the best next steps in direction for the protocol and overtime like you said
there’ll be sub-DAO may be specific and sub-communities that are interested in different aspects of the development of the chain or different aspects of the use cases for applications on the chain and that helped moving those initiatives forward within their own subcommittee so
I know the Kujira has done this really well and - I think - a lot of chains are thinking about how to let grow and decentralize their community and provide more government control to the individuals in the community. So I think that that’s the direction it’s headed but really early days as just kind of basic Frameworks are getting established right now.
yeah — I think something we need to realize is decentralization is a journey you can’t do it all at once. In fact very few of those projects will succeed in my opinion and I just love the thinking of governance is more complicated than one user — one vote — one wallet. But like there are structures and sub-DAOs and things that can be put in place to ensure that the right people make correct decisions I think that’s very wise.
Yeah yeah — 100 percent — you know if it wasn’t that way they are like you want to have people that have expertise and have the knowledge and want to support like an initiative that they have specific expertise or areas that they can contribute to help lead other people in thateffort. So I think that’s where sub-DAOs are going to become really crucial and yeah I’m excited to kind of see it organically evolve. And I’m definitely going to be you know paying close attention and it will be interesting to see kind of what are the the different directions the sub-DAO take.
Fantastic and he mentioned Kujira you know obviously I am a member of the Kujira Senate I highly encourage you to look at the model thay have both of what works as well as what doesn’t work. I think it’s an interesting experiment and the team is doing awesome
Yeah — no I was just actually going with our founder Griffin today and looking at could Kujira’s model and kind of thinking you know that they’re a really good example of like community-based governance and the what what are the different committees what are they called — it is Senate?
And yes it is this really a couple different ways of governance the first one is just general governance on the chain so voting for you know which my contracts get deployed those sorts of things companies with a community which in Cosmos effectively means with validators who are the primary folks voting then there’s the Senate currently who controls the community grants program So is is a group of eight folks who vote on it and Senate members can be added removed from the community so it’s really the community controls the Senate effectively but it’s a specialized body and there is a body called the Sentinel in Kujira which is effectively the technical version of the Senate and not being part of the Sentinel i can’t talk all specific about it but I think the intention long-term is to have some technical decisions remain with folks who have the technical expertise and depth into the issues and lets initial funding pot which I think is quite interesting and it’s you know it sounds like y’all are moving in same direction. I am curious not you know the big thing in Cosmos is ICS and replicated and security. Does Archway have any plans to play in this or you are planning to be a completely separate set of validators — what are your thoughts there?
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Yeah - well I can’t speak on the kind of direction of where the protocol is going to go long term but at least my understanding and conversations with people if Phi Labs and that’s not the focus of members of our lives right now we want to really build the right infrastructure so that the chain is successful that it’s secure provides the right parameters for users to be able to and developers to be able to creating and make solid long-term applications and we want to be able to have it so that it’s a low barrier to entry for a developer to come and build and have a good experience whereas like I know what you’re going to deploying on other layer ones there’s costs to be able to get benefits of replicated security or shared security and and you need to have those funds to be able to pay for that type of security whereas this exact opposite Acrchway. You deploy an application you get the support of the Phi Labs development team you’re able to go to Market really seamlessly and then as you have usage on your app vacation your actual generating sustainable Revenue. So we’re really thinking about this the core of all of the decision making and thought processes around a sustainable economic model. That’s going to last regardless of the cycles of the the crypto industry.
Awesome. Now we don’t talk about taking price on the Bitcion — but I think one thing we can’t talk about value capture for the Arch token and perhaps the tokeconomics so he could run us through you know what that is one of the economics look like initial distribution and as well as how Arch captures value from the growth of the entire ecosystem?
Yeah — that’s a good question and so the the details are all on the Archway web-site. And i believe it’s at the very bottom there’s technical papers and then there’s the the full breakdown of all of the distribution of the token and the token was available for you know the public to purchase on Coinlist and it’s available now on secondary markets. And yeah in technical papers there yep and and the yeah.
So the token itself is a primary gas token and and like a token to secure the the protocol itself and the inflict — the inflation is dynamic based on on-chain usage so again with the idea of sustainable economics in mind and I believe that like the upper bound of inflation is something like 20 percent and a lower bound is is can be that deflationary based on on-chain usage and so the design is that there’s never going to be like hyper inflated amount of increase being you know tokens on the Market and as the ecosystem is demanded and as as developers use the applications or users use the applications developers need tokens to be able to deploy others giving demand for the arch token as the ecosystem grows naturally and especially to be able to spend for gas and be able to secure the protocol long-term. So it’s really kind of a core asset for the the broader ecosystem.
Owesome. It sounds very much like utility token gas rank — and I think the system wanted to give a shout out to crypto la rosa joined wellcome and anyone who’s following you have any questions were put down on anything about entre or anything you could just pop them down islam so i know there’s a large country that’s currently excluded from Archway and I’m wondering if you could talk a little bit more about that and want to be needed to open access to folks in the us and and and how the lack of US access you think will enact the ultimate run out and success of Archway.
Yeah — I mean and I think we’re playing within the rules that were given in this broad blockchain kind of world and unfortunately the Securities and Exchange commission has left more questions than answers in how to operate effectively and in being bringing a blockchain bringing utility token asset to Market.
You are polite — when you said that. You are restaint is admirable — sorry — carry on!
I am not the biggest fan of the chairman of the Securities and Exchange Commission. I have seen that person be very contradicted credit contradictive in his words and how he said things and one in one time and then enforce them a very differently in another I would really wish at the the scc would set guidelines and then let do of developers and entrepreneurs operate within those guidelines versus sending out well as notices and trying to enforce regulation by enforcement and by involving the the department of justice I think that it’s really unfortunate and for that reason the ARH Archway native asset or token.
I was excluded from US residents because of the ambiguity and because of the kind of challenging environment that we’re working at and we’ll see as that evolves. I think that this is a temporary thing as far as the legal frameworks that we’re operating within and I think there’s gonna be more clarity over time I think that even recently the ripple a decision that was made in court that the the srp token was not a security when it was offered to the general public is a big win and I think that that might be a learning lesson for the us to see that and trying to regulate by enforcement is not the right best path forward and so it’s unfortunate but we kind of have to operate within the grounds that within the sandbox they were playing in and hopefully that sandbox will look a lot different in the coming years yeah.
It’s really frustrating to have a wholesome conversation about the technology and apps being built and needed to be like well sorry you can’t have any of this because you happen to live in the United States so we can move forward with that then let’s talk about the roadmap as well so what’s on the future you just launched maintenance regulations what’s next for Archway?
Yeah — so now it’s really not about archway and the Phi Labs team is really about the growing ecosystem and so like I mentioned there are people keyboard people keep your eyes and ears peeled about and the opportunity to get benefits for using the application on chain and that’s going to be really exciting and i think that there’s going to be a logical ways for people to explore what’s happening you know within real world assets what’s happening within the game five was happening within the utility of different types of entities a lot of these things are going to be coming on the archway chain and i’m really excited to shine light on the developers that are bringing really cool products to market and then I think it’s going to be really what’s gonna be really important is that the model that
the sustainable economic model is proven out over time and if it is and you’re able to generate more sustainable revenue then.
I think that this ecosystem is going to really skyrocket because why would a developer not deploy and bring users to an application that’s generating more revenue than it would on another chain so that’s i think the biggest opportunity and i think that that’s what it’s yet to be seen but i think that the design and the intention behind how the Archway protocol has been built over the past 2 plus years is very intentional and it will see the fruits of how that ecosystem grows over the next you know months and years.
Awesome. And I know you have a grants program as well for developers and so you can access it here on the website and I ’m curious if he could tell us about like what is the program involved what are some of the qualifications people would need if you’re curious about jumping onto an Archway platform itself in bolin.
eah no thanks thanks vanessa that’s a great point the grants program is run by the Archery foundation and really there there’s a kind of thorough votting process that you’re committed builder and that you’re building something novel and that’s going to be a net benefit for the Archway ecosystem and those are kind of the main stipulations but it’s very open ended it’s very inclusive and and the grants are doled out based on milestones of delivering growth in and like against your own roadmap as an as an app developer but it’s exciting that grants program did launch announced that the first round of applications that were funded were just given out and so now i think that there’s more developers that are going to be coming in subsequent rounds so that’s really exciting opportunity to if you’re excited about building an application are you really considering you know you have the ability to bring something cool the market the grants program is a great way for you to be able to bootstrap have initial money and be able to support your teammates that are you know down in the trenches and building the application with you.
awesome awesome kinds of are there any particular teams within the cosmos ecosystem that you will have a particular plus with are working very closely with or have you been feeling separate from everyone in the Cosmos.
no no definitely I think it’s i mean we have multiple obviously related to lots of chains and Kujera where we’re connect with those moses were connected with the hubbard connected with multiple others I think that some of the stuff that’s happening in ejected with purpose and stuff is really exciting and interesting and objective is doing a really good job of bringing novel products to market and i’m really i’m personally really excited about what celestia is going to bring with modular blockchain and focusing on data availability is as kind of a core framework for like the growth of block chains and so yeah there’s a lot that we’re you know partnering closely with across the ecosystem a lot of people in our community are also in the seeker community a big fan of kind of the the attacking what they’ve developed a secret so yeah we’re definitely like collaborated with a lot of teams across rbc be seeing a lot of teams that have come to cosmos two from from te terre kind of like kuchera or dfm there’s a lot of teams that yeah that with an actual ecosystem we’re pretty close with.
Fantastic well Dan thank you so much for answering my questions taking us through went on twins or anything that we didn’t comment if you feel like is worth addressing at this point as well and
I think the main thing to yeah is if you really want to get involved we want to learn more about Archway definitely false and socialist but if you want to get more hands on i’ll just recently raj launched an overhauled ambassador program yeah actually architects program and i’ll share the link it’s on twitter if you search architects but it’s a really unique opportunity to get involved not only share the great news that you know and the updates that are happening across the ecosystem but being able to bring your own talents and you know benefit from that we want we’re looking for leaders within the community we’re looking with for leaders to be to create their own sub communities and and lead communities within regional networks there’s opportunities to host events be able to get sponsor to go to conferences there’s lots of really cool opportunities and a lot of people that i’ve known that have a lot of success from the crypto industry came up via investors and even myself i was the one that kind of initially kicked off the salt lending community on telegram and and just getting involved in hands-on communities and supporting you know developers or supporting core contributors and helping scale the opportunity is a huge way for anyone to grow and definitely if you’re interested also feel free to hit me up on on twitter add detail without for ease and yeah i’m happy to chat and let’s let’s continue to to rack.
Awesome — community thank you for being able being part of the chap for engaging with with down on myself i really appreciate you taking a moment to like and subscribe really helps the channel helps us reach more people with conversations that are a little bit more indian than your classic moon boy conversation and I appreciate you taking the time was awesome to have you on the show and i’ll see you again same chance every month thanks a lot!
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