Amidst the dynamic blockchain landscape, Archway Network stands out as a platform that has captured the attention of developers and enthusiasts alike. This blog delves into the unique features and opportunities that Archway offers, shedding light on its architecture, tokenomics, use cases, developer rewards, and recent activities that ascribe it as a prominent player in the ecosystem.

Archway’s Architecture: Where Innovation Thrives

Archway Network is a testament to visionary architecture. By leveraging the Cosmos SDK, Tendermint, and CosmWasm, the Archway team have built an infrastructure that excels in speed, scalability, and security. What truly sets Archway apart is its seamless interoperability through the Inter-Blockchain Communication (IBC) protocol, which fosters a cohesive ecosystem where data and value can flow freely between different blockchains.

Unlike L1 blockchains that primarily focus on token distribution to early participants, Archway takes a different approach. It recognizes the value and impact of developers and builders by incentivizing them based on their contributions to the network. This unique model aims to level the playing field among developers, providing equal access to capital and support, regardless of their connections or associations.

Tokenomics: Incentivizing Developer Contributions

Archway introduces a novel approach to developer rewards by exploring revenue distribution alternatives. Beyond gas fees, developers building on the network are incentivized through a meticulously designed combination of gas rebates, inflation, and premiums. This multifaceted reward system ensures that developers are recognized and rewarded for their invaluable contributions to the network.

Gas fees are not just divided up among validators and dApps, but split evenly between them, ensuring a fair distribution of rewards. But Archway doesn't stop there—it pushes the boundaries further. With the inflation rate at 10% and expected APR ranging around ±21% at launch, developers have a stake in shaping the network's future.

A quarter of the inflation is allocated to the dApps rewards pool, a vibrant ecosystem where developers are rewarded based on the gas generated by their applications within a given epoch. Additionally, developers have the freedom to set custom fees for interactions with their smart contracts, enabling them to earn 100% of the charges and fostering a direct stake in their application's success. By seamlessly embedding these fees within the network fee, Archway Network delivers a user-friendly experience, sparing users from the complexity of multiple fees.

Use Cases

Archway Network opens up a wide range of possibilities for developers and entrepreneurs. By rerouting their rewards to a shared pool, developers can subsidize gas fees for users, creating a more familiar and accessible experience akin to traditional web applications. This user-centric approach revolutionizes the way people interact with blockchain-powered applications, removing the burden of high transaction costs and propelling mainstream adoption.

Moreover, Archway Network empowers developers to swiftly launch their dApps without the need to bootstrap a standalone chain. For early-stage projects struggling to secure funding or establish a secure blockchain, Archway provides a springboard for testing product-market fit and scaling ambitions. Developers can prototype and iterate on Archway before transitioning to their own appchain or rollup, amplifying their chances of success.

Archway isn't solely focused on providing a versatile blockchain infrastructure—it also fosters a vibrant and supportive developer community. By offering a plethora of hackathons, workshops, grants, bug bounties, and developer-focused initiatives, Archway stimulates a culture of innovation and collaboration. Developers are incentivized to create new modules, tooling, and applications that enrich the ecosystem and unlock new possibilities.

Check out some of Archway’s key initiatives here:

Hackathons: https://blog.archway.io/tagged/hackathons

Workshops: Archway Workshops

Grants: https://blog.archway.io/accelerating-value-capture-the-archway-foundation-grants-program-40f3edbdf9

‍Governance

Archway Network implements a governance model that allows participants and token holders to actively shape the protocol's future. Through proposals and on-chain voting, Archway's decentralized community can influence the direction of the platform. Governance is facilitated by their native token, $ARCH, which ensures fair and transparent participation. Holders of the token can propose changes and vote on active proposals, with consensus being reached through a defined threshold. Engaging with the Archway community involves actively participating in governance by submitting proposals or casting votes on existing ones.

Recent Developments

In its relentless pursuit of excellence, Archway Network has achieved several milestones that highlight its potential as a catalyst for change. Notably, the launch of its incentivized testnet, the successful completion of multiple security audits, and the adoption of WebAssembly (Wasm) have garnered attention from developers and blockchain enthusiasts alike. Now with the mainnet launch, Archway is poised to reshape the blockchain landscape, offering an unprecedented level of developer empowerment and accessibility.

Deep Dive into Archway network: https://www.youtube.com/watch?v=TCoTNlzohIo

Useful resources:

Website: https://archway.io

Twitter: https://twitter.com/archwayHQ

Medium: https://medium.com/@archwayHQ

Github: https://github.com/archway-network

Docs: https://docs.archway.io

Discord: https://discord.com/invite/5FVvx3WGfa

Reddit: https://www.reddit.com/r/Archway/

Telegram: https://t.me/archway_hq

Staking $ARCH with Chorus One

Inflation rate: 10%

Staking APR: expected ±21% at launch (with 35% ARCH staked)

To start staking with Chorus One, reach out to staking@chorus.one.

About Chorus One

Chorus One is one of the biggest institutional staking providers globally operating infrastructure for 40+ 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.

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After a record breaking event in Paris last year, EthCC, the premier European Ethereum conference returns on Monday 17 July for its sixth installation.

Chorus One is thrilled to be part of this dynamic gathering, where crypto enthusiasts from around the world convene. As we gear up to immerse ourselves in the event and share the latest developments in staking, we want to provide you with a closer look at our agenda, activities, and where to find us.

Over four days, EthCC will attract more than 4,000 industry leaders from the realms of finance and digital assets to explore the evolution of crypto and community. Through engaging fireside chats, thought-provoking panels, and invaluable networking opportunities, the conference will cover a wide range of crypto verticals, spanning from blockchain economics to rollups and gaming.

Our Chief Executive Officer, Brian Fabian Crain will take on the illustrious Versailles stage to lead a workshop delving into the significance of the Urbit ecosystem. Mark your calendar here.

Additionally, we invite you to join us for the sessions by our Research Analyst and Ethereum Expert, Gabriella Sofia and our Engineering Team Lead, Jennifer Parak. Gabriella will provide an analytical exploration, predicting the trillion-dollar potential of Ethereum staking. Catch her presentation at Saint Victor at 2:35 pm CEST on July 18.

Jennifer, on the other hand, will unveil her optimized Ethereum validator key-gen tool, "Eth-staking-smith," designed to streamline validator key management at scale. Be sure to attend her talk at Saint Victor at 2:10 pm on July 20.

In addition to Brian, Gabriella, and Jennifer, other Chorus One attendees you can expect to meet at the event, include:

Vic Kaul, Xavier Meegan, Michael Moser, Yannick Socolov, Luis Nuñez Clavijo, Albert Poetzsch, Anita Zaman, Neal Roche, Alexis Tabak

To schedule a meeting, reach out to us at: staking@chorus.one

See you there!

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About Chorus One

Chorus One is one of the biggest institutional staking providers globally operating infrastructure for 40+ 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.

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Archway Network is a novel blockchain platform that has garnered attention from developers and enthusiasts. Powered by Cosmos SDK, Tendermint, and CosmWasm, Archway boasts a robust architecture emphasizing speed, scalability, and security. Its standout feature is seamless interoperability through the Inter-Blockchain Communication (IBC) protocol, enabling smooth data and value exchange between different blockchains. With its innovative features and developer-centric focus, Archway Network emerges as a prominent player in the blockchain landscape.

1. To start staking $ARCH, log in to a Cosmos network compatible wallet on the browser of your choice. We have chosen Leap wallet on the Brave browser.

Ensure that you have the Leap wallet extension downloaded and enabled in your browser.

2. Then, log into your wallet.

Ensure that you have sufficient $ARCH tokens for staking.

3. If you don’t already have $ARCH tokens, visit https://docs.archway.io/developers/guides/faucet to receive some tokens from the Archway Discord channel.

4. Once you have $ARCH in your wallet, click on the ‘Stake’ button in the bottom row.

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5. Then, click on ‘Stake’ and search for ‘Chorus One’ amongst the list of validators.

6. Enter the amount of $ARCH you would like to stake. Make sure not to delegate all your tokens, as you will need to pay transactions fees in case you want to undelegate.

7. Finally, review and confirm the transaction.

You have now successfully staked $ARCH with Chorus One!

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About Chorus One

Chorus One is one of the biggest institutional staking providers globally operating infrastructure for 40+ 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.

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Ethereum Stake and Unstake 101

We take a look at expected times to participate in Ethereum staking.

Ethereum protocol times are measured in epochs, with 1 epoch being 384 seconds or around 6 and a half minutes. For ease of understanding, times based on these measurements have been translated roughly into minutes, hours and days.

Staking

• Every signed transaction visits the Ethereum mempool first, which can be referred to as the waiting room for transactions. Here the pending time is unknown, and will depend on network status, chosen gas fee and priority fee.
• Deposited - Once the transaction reaches the deposit contract (assuming it’s correct), the validator has a status of Deposited, meaning it has been accepted by the Execution Layer. At this point, the Consensus side is unaware of this deposit. Here there’s a waiting mechanism that is a legacy of our pre-Merge past, used to avoid the minuscule possibility of a chain reorg (might be removed in the future). The validator sits here for ~7 and a half hours.
• Pending - Once the deposit agreement has been finally accepted by the Consensus Layer, it moves to Pending state, meaning it has been added to the “staking queue”. Ethereum only allows a small number of validators to start or stop validating at a time ~(2025* a day), to maintain stability of the validator set. This takes from at least 25 minutes but can extend depending on the queue; right now it’s ~6 weeks. Timing can impacted with churn rate changes, so this exact time might be slightly lower.

Pending Validators

 88,885 / 25

 Source: https://beaconcha.in/

• Active - The validator is attesting to and proposing blocks. This is the state where you earn rewards!

Conclusion: Staking takes at least 8 hours, but it is very likely to take a lot longer as the demand to stake grows and more validators are added to the queue (the queue at the time of writing is 88,885 validators waiting). The waiting time right now is about a month and a half.

Unstaking

• Exiting - The validator is in the process of halting attesting to and proposing blocks. This means you have signed a valid voluntary exit or you’ve been slashed. Either way, you need to keep up your duties for now. When in exiting state, it means you’ve been added to the “withdrawal queue”. To move through this queue takes at least 25 minutesbut can extend depending on the queue; right now it’s 25.

Pending Validators

88,885 / 25

Source: https://beaconcha.in/

• Slashing - Slashing is a very small risk in Ethereum, but for informational purposes, let’s talk about this state. The validator is in the process of halting attesting to and proposing blocks, having been caught violating some consensus rule. You still have to perform duties, but you will get kicked out of the set. You also move through the queue but you’ll need 36 days to access the funds to account for extra penalties.
• Exited - The validator is no longer attesting or proposing, you are safe to disconnect the node clients. After exit there is one final delay of approximately 1 day before funds can be transferred to the withdrawal address.

Conclusion: Unstaking takes at least 25 minutes, but can vary depending on the withdrawal queue with a similar model as staking (the queue right now is 25 validators waiting and is expected to clear quite quickly). You also have a 1 day delay to access funds. So, all in all the waiting time right now is about 1 day.

* This number corresponds to the churn rate applied to the staking and withdrawal queues. For every 65,536 additional validators that are active on the Ethereum network, the number of new validators that can be activated per epoch increases by one, and the number of validator exits that can be processed per epoch also increases by one. Right now, the churn rate is 9.

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