EIP-1559 and Archer DAO — How We Can Help Miners

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Archer DAO

3 min readMar 5, 2021

What is EIP-1559?

Ethereum Improvement Proposal 1559 (EIP-1559) fundamentally alters how transactions are mined on the blockchain by burning gas fees instead of awarding them to miners. Users will be encouraged to include a tip to pay the miners for their important service, but this is entirely optional.

Just today, on the Ethereum All Core Developers conference call, it was confirmed that EIP-1559 will be implemented in the London hard fork this July.

How Does it Affect Miners?

In short, miners are set to lose a substantial portion of their revenue in the coming months. Flexpool described it as:

“Instead of giving the waiter a tip, you just burn it in front of him while laughing at him.”

It’s no surprise that a majority of miners are against EIP-1559. They take financial risk to contribute to the ecosystem, are imperative to the security and function of Ethereum and its applications, and deserve to be rightfully compensated.

A New Miner Revenue Stream

Archer DAO is focused on increasing miner revenue, and that goal has never been as important as it is now. By identifying miner extractable value (MEV) on-chain, Archer DAO offers miners a new, risk-free and sustainable revenue stream that further strengthens the Ethereum ecosystem.

How Archer Works

Archer optimizes blocks by replacing low-value transactions with high-value transactions. The Archer network crowdsources high-value transactions — think dex arbitrage or lending liquidations — and sends these to miners on the Archer network. Miners include these transactions in their blocks, and split revenue with the network. The gas for every replaced transaction is always returned to the miner, making it truly risk free.

Five Minute Integration

Block-producing nodes can integrate with the Archer network with one line of code and start earning more revenue in five minutes. With EIP-1559 looming, this is potentially the fastest and easiest way for miners to start to make up for the revenue shortfall.

Network Governance

The Archer network is owned by its users. Miners, suppliers and liquidity providers all power the Archer network, so it’s only fair that each has a voice in the direction and future of the project via Archer DAO.

The DAO controls a large treasury fund, and is tasked with using it to incentive participation, grow the DAO, and further the goals of Archer. Miners on the Archer network can directly affect their future and position in the project by submitting and voting on proposals.