Chorus One Announces Staking Support for Lava Network

The floor is Lava, and the ceiling is infinite! 🌋

We're thrilled to announce that Lava Network is officially live on public mainnet. As an early investor and dedicated supporter, Chorus One has been closely working with the Lava team from testnet stages to this monumental mainnet launch. Our commitment to Lava is steadfast, and we are excited to continue supporting its development and future growth.

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What is Lava Network?

Lava Network is at the cutting edge of blockchain accessibility, providing a user-friendly and scalable solution to tackle the crucial requirement for an access layer in the blockchain infrastructure. Unlike conventional methods relying on centralized or public RPC endpoints, Lava Network leverages a decentralized array of premier service providers. This approach ensures trustworthy, secure, and swift RPC services.

Lava comprises a Cosmos appchain and an off-chain protocol. RPC providers register on the Lava chain to serve RPC across many different ecosystems. Lava can support any chain and by aggregating providers and routing requests, boasts lightning-fast speed, hyper-scalability, and nearly 100% uptime.

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How Lava works - A quick overview

1. Chains and rollups create an incentive pool on Lava, consisting of their native token or stablecoins or even memecoins
2. Providers join Lava to serve RPC requests to earn monthly rewards from the incentive pool, based on their quality of service and amount of LAVA staked
3. Lava aggregates providers and optimally routes requests based on geolocation and provider quality of service
4. Users and developers get free RPC; blockchains get happy ecosystems and reliable, cost-efficient infrastructure

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How Lava staking and restaking works

1. Users can stake LAVA to a Lava validator
2. RPC providers stake LAVA to join the network and serve requests for other chains
3. Users and apps send requests to many different RPC providers
4. RPC providers on Lava are selected to handle more requests if they have higher performance and higher amounts of staked LAVA.
5. Users can restake their Validator stake to an RPC provider on Lava
6. Restaking to an RPC provider on Lava helps improve performance and security across the network, meaning the fastest and most reliable providers serve requests more often
7. As of today, only Lava RPC will be supported on Lava Mainnet. So users can only restake to Lava RPC providers via a UI provided by Leap wallet.More chains will be added soon.

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Architecture of Lava Network

Lava Network is structured with several key architectural elements:

Specifications (Specs)

Lava can support any chain but to add these chains, specifications must be written and pass through governance. Specifications are simple JSON files which describe the RPC calls and the compute cost to serve each call. Once a spec is added to Lava, RPC providers can join and serve the RPC calls for the new chain.

Peer-to-Peer Lava SDK

The Lava SDK is a decentralized, peer-to-peer blockchain RPC for developers exploring cross-chain functionality. This JavaScript/TypeScript library provides decentralized access to all chains supported by the Lava ecosystem. It simplifies the process of building decentralized applications and interacting with multiple blockchains, offering tools for both server and online environments.

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The LAVA Token

The LAVA token is central to the Lava Network, serving multiple functions within the ecosystem:

• Reward Infrastructure Providers: LAVA is used to reward providers on Lava.
• Native Token Earnings: Providers can earn native tokens from chains/rollups supported by the network.
• Restaking: LAVA can be restaked to lower security fees to the protocol, boost the performance of the network and earn additional rewards.
• Capped Supply: LAVA has a capped supply with deflationary mechanisms.

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Tokenomics

The team has published detailed tokenomics, emphasizing the role of LAVA in rewarding infrastructure providers and supporting network security. Please refer to the official tokenomics documentation.

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Why Stake Lava?

Staking Lava not only secures the network but also provides opportunities to boost network performance by giving more weight to top RPC providers. By staking with Chorus One, you can participate in securing the Lava Network while earning rewards from multiple blockchains. Here are the key benefits:

• High Rewards: Earn from staking LAVA and additional tokens from supported chains.
• Enhanced Security: Restaking helps improve the performance and security of the network.
• Community Growth: Support the growth of a decentralized, robust blockchain infrastructure.

How to Get Started

Staking Lava with Chorus One is easy. Follow these three simple steps:

1. Visit the Lava Network on Staking Rewards.
2. Search for the Chorus One validator.
3. Stake & Restake your LAVA and start earning rewards!

More Resources

• Podcast: Watch our podcast with Lava CEO, Yair Cleper.
• How to stake LAVA with Chorus One: https://chorus.one/articles/how-to-stake-lava-with-chorus-one
• Video guide for staking LAVA: https://youtu.be/LTshHMV9Gq0

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Staking LAVA with Chorus One

To learn more or to if you’re an institution looking to stake LAVA with Chorus One, please reach out to us at: https://shorturl.at/znows

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About Chorus One

Chorus One is one of the biggest institutional staking providers globally, operating infrastructure for 60+ Proof-of-Stake networks, including Ethereum, Cosmos, Solana, Avalanche, and Near, amongst others. Since 2018, we have been at the forefront of the PoS industry and now offer easy enterprise-grade staking solutions, industry-leading research, and also invest in some of the most cutting-edge protocols through Chorus Ventures. We are a team of over 50 passionate individuals spread throughout the globe who believe in the transformative power of blockchain technology.