- It’s the only network that offers developer rewards
- The project managed to attract $31 million in investments
Layer-1 blockchain Archway from Phi Labs started on the main network. The main goal of Archway is to provide developers with a convenient way to earn money from their products. Ultimately, developers who run their decentralized applications (dApps) are rewarded in the form of tokens that are created due to inflation, and they also receive fees for transactions on the network. These tokens and fees can be used by the developers at their sole discretion.
Thus, the blockchain platform stimulates not only validators, but also directly people who expand the project ecosystem. Developers plan to allocate 25%, and 75% to validators.
Archway co-founder Griffin Anderson stated:
“Archway is unique in that it is the only Layer-1 network of its kind to date that rewards 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 larger stake in the core protocol, similar to how validators and miners are rewarded for validating the network. In addition, Archway will address a notable gap in the Cosmos ecosystem regarding a layered blockchain that can natively support generic smart contracts.