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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.
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.
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.
The LAVA token is central to the Lava Network, serving multiple functions within the ecosystem:
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.
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:
Staking Lava with Chorus One is easy. Follow these three simple steps:
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
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.
The Lava Network (LAVA) is a marketplace of infrastructure providers who collectively enable users and developers to interact with blockchains, through infrastructure like RPC and APIs. This allows users to access blockchain data (like prices, transactions, and more) by leveraging a network of decentralized providers, ensuring transparency, reliability, and data accuracy without relying on centralized sources.
By incentivizing data providers to serve accurate information and penalizing those who provide incorrect data, LAVA aims to solve the problem of unreliable and centralized data in blockchain applications. To learn more about Lava Network and how it works, check out our most recent blogpost here or our comprehensive deep dive found here.
1. Install the Keplr Wallet Extension
For the focus of this guide, we recommend using the Keplr wallet. While Leap is usable, this guide will be walking through a demonstration with Keplr.
However, if you would like to use Leap wallet and stake directly to the Chorus One validator via w3coins, you can reference the quick guide below:
In case you don't have the Keplr extension installed in your browser, please visit https://www.keplr.app/ and click on 'Install Keplr'.
Click on Install Keplr for Chrome if you are using a Chrome browser or Brave if you are using the Brave browser and follow the installation instructions.
2. Create/Import an Account
Click on the extension in the Chrome/Brave toolbar and the following page will open up.
Select to either create a new wallet, import an existing wallet, or connect with a hardware wallet.
In case you do not have an existing Keplr account you can click 'Create a new wallet'.
If you already have a wallet to use, you can select 'Import an existing wallet' or you can connect with a compatible hardware wallet, such as a Ledger device.
Here you can choose between creating, importing, or associating your wallet with your Google account.
If you choose to create a new wallet you will be shown 12 words as your mnemonic seed.
Please be sure to back up your mnemonic seed securely.
Never share this seed phrase with anyone, as they will have access to your funds.
Next, enter an account name and a passphrase to lock and unlock your wallet. You will be asked for the mnemonic again.
After verifying your 12 or 24 word phrase, you will be prompted to select any other Cosmos Hub networks you'd like to add to your wallet.
No need to add any other networks if you don't plan on using them yet. You can always select more networks later.
However, it is advisable to have 'Cosmos Hub' selected when creating your new wallet.
Be sure to search for LAVA in the list in addition to Cosmos Hub.
Once you selected the relevant networks you want to use, click 'Save' and you'll be all set to go.
All set!! Your Keplr wallet is good to go!
3. Log in to your Keplr wallet
Regardless of whether you already have an wallet or if you just created it, you can now click on the Keplr extension to view your address or visit https://wallet.keplr.app/?tab=overview to see your full Keplr dashboard.
4. Stake your LAVA
If you don't already have LAVA in your wallet, you can fund it with some tokens. You may use an exchange to transfer the tokens to your address or get it from a trusted third party that already holds some.
If you want to stake from the browser extension wallet, you can either navigate to the Keplr dashboard (shown below) or scroll down on the wallet screen and select LAVA.
Alternatively, you can connect Keplr to the w3coins explorer and stake to the Chorus One validator at this address: lava@1uxmygu9mc6kzykhquzdvtqlnxcprpgjxxhf6ln
Next, you will be prompted to stake.
How to access the dashboard from the wallet browser extension
Scroll down to find LAVA or use the search bar.
Once you are on the Keplr dashboard, to stake click on the 'Stake' tab in the left hand side of the dashboard.
Once there, you will see three steps highlighted in the pink box in the screenshot below.
Scroll or through the list or search for the chain you want, in this case LAVA.
Once you've chosen the Chorus One validator, select how much LAVA you wish to stake, then click the 'Stake' button at the bottom of the screen.
Clicking on Stake will take you to Keplr wallet for approval. Approve the transaction and you will be able to see your stake.
Please note that there is a 21 day unbonding process (also known as unstaking) for LAVA.
During this period your stake no longer earns rewards and cannot be transferred, exchanged, or spent.
However, you can cancel the unstaking process if you wish without penalty.
5. Claiming Rewards
After some time you will see rewards accumulating in your wallet.
You can simply go to the Keplr dashboard to claim them by selecting 'Claim' and approving the transaction.
6. Unstaking your LAVA
If you wish to unstake your LAVA, you can do so from the same interface in Keplr that you used to stake.
Simply click on the validator you wish to unstake from and you will be prompted with the following screen.
Please note that LAVA undergoes a 21 day unbonding period when unstaking.
To proceed, click on 'Unstake' and follow the prompts to select the amount of LAVA you wish to unstake. Then confirm and sign the transaction in your wallet.
And that's it! Your LAVA will begin unbonding which you can track from your Keplr dashboard under the Staking tab.
You can view and manage all ongoing unstaking transactions (undelegations) from your Keplr dashboard and cancel them if you change your mind.
After the unbonding period is complete you will be able to transact with your unstaked LAVA again!
A Note to Institutional Investors:
If you are an institution looking to stake LAVA with Chorus One, please reach out to us via our staking request form.
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.
[Update: This article was written prior to Lava's Public Mainnet, which is now live. Please also refer to our staking support announcement here: https://chorus.one/articles/chorus-one-announces-staking-support-for-lava-network ]
Lava network is a protocol that serves as a gateway for applications to access trustworthy, secure, and swift RPC services. Unlike conventional methods that hinge on centralized or public RPC endpoints, Lava leverages a decentralized array of premier service providers.
At the cutting edge of blockchain accessibility, Lava provides a user-friendly and scalable solution to tackle the crucial requirement for an Access layer in the blockchain infrastructure. The network makes it very easy for blockchains and rollups to bootstrap a set of infrastructure providers, so users and developers can onboard smoothly.
Lava is an application-specific marketplace for decentralized blockchain Remote Procedure Calls (RPC) and APIs based on CosmosSDK. Lava is designed to enhance access scalability to various blockchains. This network has the ability to accommodate any RPC and API in a flexible manner,. Lava boasts of a lightning-fast network that is hyper-scalable, and permissionless with nearly 100% uptime.
A Remote Procedure Call, or RPC, is a lightweight software communication protocol, that allows for developers to run code that can be executed on servers remotely.
On Lava, blockchain and rollup developers can quickly bootstrap a network of infrastructure providers, without waiting for major providers to add support. The protocol's initial focus is directed towards RPC infrastructure, a service that aids developers to access over 30 diverse chains, from EVM to Cosmos.
In this section, we break down the different architectural elements of the Lava Network:
Specs - Specs, otherwise called Specifications, are the foundational blueprints for Lava's multichain support, outlined in JSON format. These specifications delineate the minimum requirements necessary for an API to function on Lava effectively. Through these specs, Lava identifies the supported chains and methods while also setting up the associated costs, prerequisites, and validations. Each time the ecosystem requires a fresh API, a new specification is seamlessly integrated. This flexible method seamlessly weaves modularity into the protocol, guaranteeing that Lava stays up-to-date and flexible.
Peer-to-Peer Lava SDK - The Lava SDK is a decentralized, peer-to-peer blockchain RPC for developers who are exploring the cross-chain functionality the ecosystem is offering. It offers a simplified setup for multi-chain RPC, where adding a new chain can be done with a few lines of code. The Lava-SDK is a JavaScript/TypeScript library that was built to provide decentralized access to all chains supported by the Lava ecosystem. It further provides necessary tools for server and online environments, simplifying the process of building decentralized applications and interacting with multiple blockchains.
Gateway - Lava Gateway is a user-friendly web platform for developers that provides instant access to blockchain data. The Gateway makes use of the Lava Server Kit to offer a hosted entry point for developers seeking RPC via the Lava Network. This setup enables users to handle and set up Web3 APIs using user-friendly controls right from their browser. While the Lava Server Kit and SDK offer enhanced control and permissionless features, the Lava Gateway grants similar entry to our base network along with extra conveniences like project management utilities and user accounts.
The LAVA token is central to the Lava Network, serving multiple functions within the ecosystem.
Token details for LAVA stakers:
• LAVA is used to reward infrastructure providers on Lava
• Providers can earn native tokens from chains/rollups supported by the network
• LAVA can be restaked to earn additional yield and lower security fees
• LAVA has a capped supply with deflationary mechanisms
For more details, please refer to the official tokenomics documentation
Lava Network is a modular network that focuses on giving blockchains and rollups a performant and reliable access layer. RPC is the first supported use-case, but other services related to data access will be added soon e.g. indexing.
To read more about Lava Network, we recommend the official documentation available in docs.lavanet.xyz.
Staking Lava with Chorus One is easy. Follow these three simple steps:
For any other questions or to stake LAVA with Chorus One, reach out to staking@chorus.one or through this form.
Chorus One is one of the biggest institutional staking providers globally, operating infrastructure for 50+ 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.
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