Phi Labs has launched Archway’s mainnet within the interoperable Cosmos ecosystem.
The project offers a developer-oriented tokenomics model. The Value Capture Engine automatically allocates 25% of asset issuance to developers, with validators receiving 75%.
Griffin Anderson, Phi Labs’ CEO, said that the network is aimed at supporting a broad spectrum of general-purpose smart contracts, including DeFi solutions, NFT marketplaces or crypto exchanges.
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“Creators building on top of the blockchain will have a larger share in the base protocol, in the same way validators and miners receive rewards for validating the network,” Anderson told The Block.
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The mainnet launch was carried out with the support of several teams, including Archgregator, Pipapo, BonusBlock, Vectis and Astroault.
Anderson noted that Archway will fill a niche in the ecosystem for a blockchain layer that can initially support general-purpose smart contracts.
The project was previously backed by venture firms CoinFund and Hashed. Phi Labs’ total funding amounted to $31 million.
Earlier in March, the Injective team launched deployment solution for developers on Solana to deploy their applications in the Cosmos environment.
In June, via the Inter-Blockchain Communication protocol, the ecosystem integrated with the Polkadot platform Polkadot.