Staking Project | Archway — the incentivised developer-centric smart contract platform

Archway is arguably one of the hottest projects in the Cosmos ecosystem these days. The popularity of Archway in the technical community is evident from the fact that more then 5,000 pr submitted as the Archway Incentive Test Network was about to go live. In this article we will briefly introduce Archway and try to find out the reasons why Archway has gained recognition from the technical community.

What is Archway?

Archway positions itself as an incentivised developer-centric smart contract platform. Based on the Cosmos SDK, Archway is designed around the building of dApps from the protocol layer to the economic model. the Archway team believes that web2 lowered the barriers to information access, but there are still huge barriers to accessing capital and capturing value. The early versions of Web3 Layer1 were still not very decentralised as the tokens representing governance were concentrated in the hands of a small number of early adopters. By changing the way dApps are built, Archway hopes to enable contributors to better benefit from their contributions.

Why is Archway？

The Cosmos SDK has simplified much of the technical work for blockchain projects from launch to deployment, but it is also a challenge for early-stage projects to recruit and incentivise quality validators to keep the network running consistently over time. In this case, it is a good option for developers to consider the operation of the chain when the core functionality is perfected, and to deploy the project as a dApp first. Based on the above factors, Archway has implemented some customized modules on top of Cosmos SDK, supporting CosmosWasm, WebAssembly and Rust, to facilitate the deployment of dApp projects in Archway to the maximum extent. At the same time, at the protocol level, it gives the dApps on it the ability to develop projects and community governance in parallel by distributing the rewards they receive.

According to Archway’s developer documentation, dApp developers can earn revenue in three ways: gas fee rebates, share of inflationary rewards and smart contract fees (optional). It also allows each dApp developer and their community to configure how the rewards are managed and distributed. The following are some of Archway’s innovations in terms of reward distribution.

• The way the gas fee is allocated distinguishes the Archway network from existing smart contracts. Gas fee for Archway will be divided between the dApp developer and the validator. At the start of the network, the dApp developers and the validators will split the gas fee equally, and thereafter this split can be adjusted as appropriate. This distribution actually gives the dApp the ability to reduce or eliminate the user’s pressure on gas, thus enabling user growth and retention.
• According to official documentation, the Archway network’s native tokens increase in supply by 7% to 20% per year, and these increases are shared with dApps. At launch, 25% of the network’s inflationary rewards are allocated to dApp developers, with the remaining 75% allocated to validators. The portion allocated to dApp developers will be injected into the dApp rewards pool and allocated based on the proportion of the value of gas generated by each dApp over time to the total value of gas in that time period. To ensure network security, a hard cap is initially placed on the amount of inflationary rewards each dApp may receive, i.e. “a contract deployed to Archway cannot earn rewards greater than the total gas it generates within an epoch”. The community can also change this allocation ratio and the cap through governance.
• The smart contract fee is set to $0 ARCH by default and can be adjusted by the developer. Archway allows developers to focus on a single smart contract that can be integrated into multiple dApps. When the user interacts with the contract, the developer can charge the user a fee. At the same time, in order to guarantee the user experience, the user only has to pay for one combined fee. The design is intended to incentivise more technology development.

The latest news

Archway has not yet announced its tokenomic and roadmap as it is still in the very early stages. after running the Constantine testnet for some time, Archway is finally moving forward with the incentive testnet Torii today and has also kicked off the Incentive Testnet Challenges program. Gentx submissions for the Torii testnet are due by April 11th and the Archway team has received more then 5,000 pr and selected 120 validators for the Torii Genesis network launch on April 15th. Wetez is honored to be one of the Torii Genesis validators, and we will be witnessing and participating in the development of Archway first hand.

Above is the news we bring to you from the forefront of Archway.

About Wetez

@Wetez is a professional staking service provider. We are running validator nodes for over 25 projects：

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