Startup Phi Labs has launched the Archway first-level blockchain mainnet in the Cosmos interoperable ecosystem.
Data: Twitter.
The project offers a tokenomics model aimed at developers of decentralized applications. The Value Capture Engine automatically distributes 25% of the asset emission in their favor, validators receive 75%.
According to Phi Labs CEO Griffin Anderson, network aims to support a wide range of dapps, including DeFi solutions, NFT marketplaces or crypto trading platforms.
“Creators working on top of the blockchain will have a larger stake in the underlying protocol, similar to how validators and miners are rewarded for validating the network,” Anderson commented for The Block.
The mainnet launch was supported by a number of teams including Archgregator, Pipapo, BonusBlock, Vectis and Astroault.
Anderson noted that Archway will fill the niche of the blockchain layer in the ecosystem, which can initially accept generalized smart contracts.
Previously, the project was supported by venture capital firms CoinFund and Hashed. Phi Labs has raised a total of $31 million in funding.
Recall that in March, the Injective team launched a solution for Solana developers to deploy their applications in the Cosmos environment.
In June, the Polkadot platform was integrated with the ecosystem through the Inter-Blockchain Communication protocol.
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2023-07-03 15:11:20
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