Supporting Archway as a Validator
Originally published on July 3, 2023.
Why should we support Archway?
Archway is committed to establishing a fair blockchain system that empowers developers to reap the rewards of their contributions to the protocols they work on. A thriving and engaged developer community is the key factor in ensuring the long-term success of any smart contract platform. Developers serve as the driving force behind a network, creating decentralized applications (dApps) and services that attract new users and generate substantial daily network fees. The rapid increase in the value of many blockchain networks can be largely attributed to these vibrant developer communities. However, the individuals who create and build these dApps often do not share a significant portion of the network-level value they help generate.
Typically, the lion’s share of this value is accumulated by a small group of entrenched “whales” and well-connected industry insiders. Visionary dApp developers, who invest their efforts in developing products and communities, often do not hold a substantial stake in the Layer 1 networks they contribute to, thus missing out on direct benefits from their contributions. Consequently, they resort to alternative fundraising methods and business models to sustain their creations. The Archway protocol seeks to transform how value is generated and distributed throughout blockchain ecosystems, introducing an entirely new developer-focused economy.
Archway is a Cosmos-native incentivized smart contract chain designed to enable developers to easily deploy high-performance dApps that directly benefit from the value they bring to the network. As developers construct and launch influential dApps, they receive a proportionate share of network fees, inflation, and premiums. This revenue-sharing model allows dApps to access ongoing value creation and participate in the success of the underlying protocol, effectively aligning the incentives of developers and their dApp communities with the broader ecosystem.
Archway’s technical design prioritizes a seamless developer experience. The protocol offers full WebAssembly (Wasm) support for cross-language compatibility, a Web3-compatible API, and native bridges that link to other networks, facilitating cross-chain communication and asset transfers. Built on Cosmos and integrated with the Inter-Blockchain Communication protocol (IBC), Archway enables the creation of scalable cross-chain dApps. Developers can deploy their contracts directly onto an established Proof-of-Stake (PoS) network without the need for a dedicated new chain, instantly connecting with users, assets, and communities from across the Cosmos ecosystem.
Archway, a Value Capture Engine
Through Archway, decentralized applications(dApps) have the opportunity to receive transaction fees and a share of the inflation that aligns with their level of contribution to the network. This earnings model bears similarities to that of validators, who receive incentives for running nodes on a Proof-of-Stake chain. By assigning a portion of network-level fees and inflation to dApps, developers and their communities receive direct incentives and become genuine stakeholders in the protocol. Furthermore, dApps receive the full benefit of any premium they introduce to their smart contracts.
Archway provides flexibility for each dApp developer and their community to customize the management and distribution of earned tokens. When a contract is created, the developer specifies a designated “owner” address where all earned tokens are automatically sent. This target address can be the developer’s own, a multisignature wallet, or controlled by a separate custom contract. Ownership can be transferred to a new address as required, with only the previous owner’s signature needed.
Developing on the Archway network fosters a positive feedback loop through its programmatic incentives. The opportunity to earn a share of network fees, inflation, and token premiums serves as a strong incentive for developers to choose Archway for their projects. As more dApps are built on Archway, the network gains additional users and liquidity. This, in turn, attracts more developers who aim to leverage these users and assets. This feedback loop draws in more developers, users, liquidity, and dApps, creating a self-sustaining effect that continually enhances both the utility and value of the underlying protocol.
Provalidator will continue support on Archway, please stay tuned for more of our announcements. Thank you!
About Provalidator
Provalidator is a professional Proof-of-Stake blockchain validator and decentralized infrastructure provider. We offer enterprise-level validation services to more than 30+ blockchain networks, safeguarding over $250 million (as of December 2022) in digital assets through our robust infrastructure. Our team has been operating validator nodes since 2018 starting with the Cosmos Hub, and is currently one of the most prominent validators in the Cosmos ecosystem.
At the heart of our operations is validator service, which are specialized servers or nodes in a blockchain network tasked with proposing, authenticating transactions, and incorporating new blocks into the blockchain. Our dedicated team is on standby around the clock, ensuring swift responses to any validator node concerns. We’ve implemented multi-layered security and monitoring systems to safeguard our infrastructure and prioritize interests of our delegators.
Our mission is to support blockchain infrastructure.
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