Phi Labs is a core contributor to the Archway Protocol, a layer 1 blockchain that enables developers to capture and distribute the value generated by decentralized applications (dApps). By providing an intuitive toolkit, Phi Labs empowers creators to build sustainable dApps and foster engaged communities, addressing the challenge of value retention in blockchain ecosystems.
Funding
$21M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Decentralized application (dApp) developers face challenges in capturing and retaining the value they create within blockchain ecosystems. Traditional models often lack mechanisms for rewarding developers directly for their contributions and user engagement.
Solution
Phi Labs contributes to the Archway Protocol, a Layer 1 blockchain designed to enable dApp developers to capture a portion of the value generated by their applications. Archway achieves this through on-chain mechanisms that distribute rewards to developers based on their dApp's activity. These rewards include a percentage of gas fees generated by users interacting with the dApp, a share of the network's inflation, and the ability to charge a custom usage fee on smart contract interactions. This incentivizes developers to build high-quality applications and fosters a more sustainable ecosystem.
Target Audience
The primary target audience consists of decentralized application (dApp) developers seeking to build sustainable and profitable applications within the Cosmos ecosystem.
Features
- Gas Fee Rebates: dApps receive a percentage of the gas fees spent by users interacting with their smart contracts.
- Inflationary Rewards: A portion of the Archway network's token inflation is allocated to dApp developers.
- Smart Contract Premiums: Developers can program a custom fee into their smart contracts, earning revenue each time the contract is used.
- Developer CLI: Command-line interface tools for streamlined dApp development and deployment.
- Arch3.js: Javascript library for interacting with the Archway blockchain from web applications.
- Litmus: Testing framework for ensuring the reliability and security of smart contracts.