Griffin Anderson 🟠
@andergri
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Founder @phi_labs , core contributor to @archwayHQ Social Disclaimer:
Joined August 2010
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Send us removal request.
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Today is a day of immense celebration for the Archway community. After two years of collective effort, the Archway mainnet is finally live!
Today marks a significant milestone, and I'm humbled by the perseverance and dedication of the ecosystem.
#ArchwayMainnet
🧵 👇
The wait is over, Archway is live!
The protocol was created by builders for builders. Those who create value receive value in return. Your dapp, your users, your rewards.
What will you build?
Learn more about the ecosystem now:
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My spicy takes 🌶️
... and lessons learned contributing to
@archwayHQ
1. Ecosystem Grants Don’t Pay Off: The data shows that the ROI on third-party grants is abysmal. Most teams rug pull and sell their grants immediately. There seems to be a natural selection bias where the
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Several larger chains have been added to
@MapOfZones
, but
@archwayHQ
continues to quietly rise in the rankings. Currently, we're in the top 10.
Shout out to
@axvdex
!
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In my role contributing to
@archwayHQ
, I spend a lot of time thinking about strategy.
However, I can’t figure out why the
@cosmos
ecosystem can’t gain wider adoption. When you examine the data below, it seems like there is a ceiling of around 30k daily active accounts (DAA) for
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Sooo excited.
An exclusive community of builders, innovators, and creators.
The Archie might just be the 🔑 to unlock new exclusive Archway Experiences and releases.
10 WL Spots are up for grabs 👁️👁️👁️
🔸 Follow
@ArchwayHQ
and
@ArchiesNFT
🔸 Tag 3 friends
🔸 Like and Reshare this post
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So excited to witness the incredible unity within the
@archwayHQ
community as we head towards launch! After many years of unwavering dedication and invaluable contributions to the protocol, it's time to buckle up for a series of thrilling announcements! Stay tuned.
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Reflecting on the fundamental disconnect in crypto: developers create immense value but often capture little.
It’s time for a paradigm shift.
I’m excited to be attending
@AwesomWasm
and seeing what the community will build at
#HackWasmBerlin
!
🎙️Speaker Announcement🎙️
Excited to unveil our next speaker,
@andergri
- founder of
@archwayHQ
- at
#AwesomWasm
! 🤩
🔥Don't miss his talk on "Archway, The Value Capture Chain."
👉Join us at
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In my last post, I was being a bit tongue-in-cheek. However, it is really difficult for protocols like
@archwayhq
to thrive within Cosmos if they identify as a Cosmos chain. Here’s why:
🧵👇
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The other day
@archwayHQ
was attacked.
A big thank you to
@gadikian
for conducting it 🙏
Here is a summary of the issue:
If blocks become too big, it causes p2p to fail. Large blocks are generally difficult for network nodes to handle.
Our solutions are to either decrease
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Everyone is asking why Cosmos isn’t 🚀🌕.
My answer - the ecosystem doesn’t support its projects.
Here are the number of features, retweets, or predominant mentions a particular project has received over the last 🗓️ 3 months from the main
@cosmos
account, which has 550k
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2023
@archwayHQ
Ecosystem in Review, by the numbers:
🟢 100% Uptime
#⃣ Over 1 million on-chain transactions
#⃣ 70k+ Unique Wallets
#⃣ 50k+ Staking Accounts
#⃣ 80+ Relayers
#⃣ 12k+ Contracts Deployed
#⃣ 350k+ Contract Executions
#⃣140K+ Arch rewards given out
#⃣106+ Github
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The cosmos cartel strikes again.
Only insiders got Celestine Sloth NFT
@CelestiaOrg
.
Doesn’t seem fair to me🤷🏼♂️, but nobody cares, right?!
@ArchiesNFT
let’s do it better.
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As someone involved in the space for many years, dating back to my early days at
@ConsenSys
, there was always a disconnect b/w where value was captured vs where it was created.
This issue is not unique to any one ecosystem, rather it plagues the entire space — let me explain🧵👇🏼
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My thoughts on how to make
@archwayHQ
great again:
1⃣ Improve Tokenomics: Lower inflation and reduce the validator set to lower the cost of security.
2⃣Implement Fee Auction and Fee Burn Model: Adopt a model similar to Injective's to improve tokenomics.
3⃣Build Useful dApps:
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Archway event vs Other events at ETHCC
Hmmm 🤔.
Maybe something is going on over at
@archwayHQ
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Shout out to everyone contributing
Before the big day, let's give a shout-out to all the trailblazers who have contributed to the Archway protocol and the incredible dapps launching from day one.
Join the ranks of the Architects and be part of something extraordinary!
#ArchwayMainnet
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We have now joined a group of distinguished protocols that no longer call themselves Cosmos chains, despite using the Cosmos SDK.
-
@CelestiaOrg
-
@injective
-
@dymension
-
@dYdX
-
@SeiNetwork
-
@berachain
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With the recent news of
@EvmosOrg
and
@StargazeZone
pivots, I can’t help but think about how bad this looks for
@cosmos
. It appears to be increasingly difficult for any fully self-sovereign Cosmos chain to survive under a POS model.
I’m unsure if pivoting from one
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1/ In the Cosmos ecosystem, I often receive questions about CosmWasm and the differences in enabling dApps across chains. It's crucial to consider the reasons why a chain should include CosmWasm and enable dApps in the first place. 🧵
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Can someone in the Cosmos please perform an integrity check on the top zones in the
@MapOfZones
?
How are
@CelestiaOrg
and
@Neutron_org
ranked ahead of
@osmosiszone
? 2x volume 🤔
Why do some IBC channels report nearly identical volumes every day? And no, I’m not talking about
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The
@archwayHQ
NFT ecosystem is gaining momentum.
Follow some of the promising collections coming to archway:
@ArchiesNFT
@Derpies_NFT
@ArchmonNFT
@HashiriyaNFT
Getting exciting.
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I like
@TeamKujira
, but I do not think
@ATOMAccelerator
should bail them out.
First and foremost it is not in the AADAO mandate and just creates more confusion about what is the AADAO mandate.
A lot of people will see this as a nice gesture, some will see it as predatory.
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Do you know
@axvdex
?
You're probably asking yourself, don't we already have
@osmosiszone
,
@astroport_fi
, and
@TeamKujira
. Why do we need another dex?
Here are three reasons why for average user:
1.
@axvdex
caters to the long tail chains of Cosmos, the small chains, the teams
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Hmmm, something is catching fire
App Chains are not new. The difference in 2023 is that they are coming to EVM, where the majority of users + integrations (wallet, validator, bridge, node) support. Optimism’s OP Stack
@optimismFND
is open-source and allows any project/team to launch their own roll-up chain. In
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How did the archway launch go?
4 - The Best in Cosmos 😍
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3 - Crushed It 😇
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2 - Good 👍
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1 - Ouch 😢
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In Cosmos, do you have to be an ICS chain to be Atom/Hub aligned?
IMO, No.
Projects like
@StargazeZone
,
@osmosiszone
,
@TeamKujira
,
@archwayHQ
, and
@noble_xyz
have done just as much, if not more, for the hub and atom holders than any other ICS chain.
At the end of the day we
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The secret sauce 🥘🧂 behind
@archwayHQ
DevOps infra 🧵
Humble brag - One of the more sophisticated setups in the ecosystem
Stats:
Handle ~175 million rpc calls per month
Run ~27 nodes internally
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You can wait for
@osmosiszone
to go permissionless or just deploy today on
@archwayHQ
and access all the liquidity and functionality through IBC
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I'm reading the ATOM Accelerator DAO (AADAO) Transparency Report.
What a joke!
My 3 takeaways, based on my experience building
@archwayHQ
:
1. Overpaying: AADAO is paying about twice what things should cost, from education to events.
2. Redundant
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This clearly did not get enough attention in
@cosmos
.
This is huge for
@IBCProtocol
There are those who talk about chain abstraction and those who actually do it.
Which side do you want to be on?
We've brought
@osmosiszone
to
@archwayHQ
with one click! Try it out and register here:
🔒All Nomos OG NFT holders are already whitelisted.
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Best projects are underrated.
Sure
@archwayHQ
could be described as an L1. We already have 20+ L1s, why do we need another?
Answer: rewards model
Watch video below.
Peter Thiel: “Buzzwords are a tell, like in poker, that the company is bluffing and undifferentiated”
“I think all trends are overrated… if you hear the words ‘big data’ and ‘cloud computing’, you need to run away as fast as you possibly can. Just think ‘fraud’ and run away…
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Most people don’t know this, but many chains were asked to participate in cosmos ICS.
@archwayHQ
core team was asked early in the process, before teams Iike
@Neutron_org
signed on. Why did they say No? 🧵
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In my humble opinion, the main drive for chains to join the Atom Economic Zone is to get $ATOM, not for security.
Let's dive into some game theory here... 🎮👇🏼
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We are past the point where a more performant network offers any competitive advantage.
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“Super-dApps” are the future of web3.
App discovery and user acquisition is getting prohibitively expensive even if you launch a token.
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It's hard not to be bullish on the Archway ecosystem!
🎉Drop camp Airdrop - 2 weeks ago
🎉Ambur / Archies 1.2m trading volume
📆 Things launching this week: 📆
🎉
@CALC_Finance
mainnet today
🎉 Hunt-A-Thon hackathon kicks off today
🎉
@archidapp
launches network wars
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Many teams are considering moving to an EVM environment to reach more developers.
In six months, AI will make it easy to build a dApp on any VM, including CosmWasm.
It will be interesting to see if Ethereum’s competitive advantage erodes.
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L1s have solved…. Privacy, Scaling, & Security.
What’s next?
Sustainable Business Models
@archwayHQ
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5. Lack of Recognition - Your contributions will not be appreciated. The Archway team has been contributing to the Cosmos SDK, CosmWasm, and IBC in very meaningful ways. We have developed many core Cosmos modules, tooling, and improvements for CosmWasm, and found many critical
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The post isn’t supposed to come off negative, but many people are naive to the problems teams face within Cosmos. If we don’t highlight these issues, our ecosystem will never improve.
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1. Venture Capital - Most VCs have been reluctant to invest in Cosmos projects. High-profile investors like
@a16zcrypto
have never invested in Cosmos, and there are rumors that
@paradigm
liquidated their hub position. Mentioning Cosmos in a VC meeting can actually hurt you. It
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Most people don’t know this, but
@archwayHQ
network has had 100% uptime since launch. ✅✅✅✅✅✅✅
A lot of
@cosmos
and other chains can’t say that.
Surprise, Surprise, A working and live network is critical for DeFi.
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Hey
@JunoNetwork
community, it's time to break free from the cycle of imitation
Let's forge our own path and pioneer new frontiers. Embrace innovation, because simply imitating
@archwayHQ
won't lead us to success in the long run
@CryptoChem0000
cc
@EricWaisanen
bit confused on the math here, where am I wrong?
Price = $0.20
GasPrice = 0.0025uarch
AvgTx = 440000 gas * 0.0025 = 1100uarch per Tx
Txs = 500k * 1100uarch = 550ARCH = $110 * 50% rev split = $55USD
Premium
- 0.1arch * 500k = 50,000ARCH
- 50k arch * $0.20 =
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Why I support Prop. 49 on
@archwayhq
to reduce the Archway Validator set and network inflation:
The Archway ecosystem currently spends around 110 million ARCH annually to secure the network, costing approximately $4 million USD per year (average of $24+ million USD in the
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6. Community Animosity - New projects will face initial resistance from existing communities. When we announced Archway as a CosmWasm chain, we were met with criticism from the Juno community and later from the Neutron/AEZ community. It’s challenging for an ecosystem to thrive
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Archway’s Network fee’s can and should be periodically adjusted.
Currently at 900 gway. Share your thoughts.
Stay at 900 gway
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Lower to 450 gway
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Lower to 250 gway
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Lower to 140 gway
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Bitcoin Mining rewards made this possible.
What will Archway Developer rewards make possible?
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Here is a controversial thought:
“There will never be 1 thousand Cosmos chains.” 👇👇👇
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They say copying is the sincerest form of flattery.
But, come on Cosmos, we couldn’t find any other design element to choose.
1st was
@archwayHQ
2021, then
@SeiNetwork
copied and now
@axelarnetwork
Long live the 🟠 ball, 🤷🏼♂️🤣
Today, blockchain interoperability has a new look and new language 🦾
Axelar is the shortest path to scale 👀 ⤵️ 🧵
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@SmokeyTheBera
thanks for playing along with me and the
@archwayHQ
community today. I wish
@berachain
community all the best.
@DoraHacks
@SmokeyTheBera
@andergri
Just remember, folks, it's all in good fun - let's hope they're using rubber bullets!
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A long time ago, I was at ConsenSys working closely with the
@MetaMask
team. Fun to see things come full circle.
all fired up for millions of architects to start exploring
@archwayHQ
, with
@MetaMask
Snaps!
Leap's snap will allow everyone to use their MM wallet across all Archway dApps 🟠
connect seamlessly & sign transactions with just one click, just like a native wallet ⚛️
we ready 🤜
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2. Exchanges - Earlier Cosmos chains performed poorly on major exchanges, generating insignificant fees. This set a challenging precedent, making it difficult for many branded Cosmos chains to get listed on major exchanges.
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The
@axvdex
community has demonstrated remarkable resilience, persevering through numerous challenging times.
I've observed the core team execute consistently over the past year, continuously delivering.
It's this kind of persistence and the initial community support that can
🕡 WHEN: 6PM UTC, FRI January 26th, 2024
🌐 WHERE:
🎫 HOW: Participate in ATOM, xATOM, USDC.nobl, USDC.grav, USDC.axl, USDT.grav, & IST
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3. Funding for dApps - Securing funding as a Cosmos dApp remains challenging. Beyond a few small Cosmos VC funds, opportunities are limited. Better off identify as a multi chain or interchain dApp.
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Starting Monday both dApps and users can begin to offer anyone who interacts with their smart contracts free gas tx.
It’s a big win for seamless UX.
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7. Two-Tier System - AEZ has created a two-tier system in Cosmos. Many projects have worked hard to bring more dApps and developers into Cosmos, but it’s difficult when good teams are poached by Neutron/AEZ and given funding to build exclusively on that chain. If Cosmos ecosystem
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Leap keeps crushing it
Leap's
@archidapp
integration lets you use one name for everything Archway 🟠
you can now use Arch ID names to easily send or receive assets through Leap Wallet 🐸
just enter the ArchID Domain, and let us resolve it to the right address 📙
more possibilities, soon 😉
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4. Developer Awareness - Many new developers, especially those who joined Web3 post-2021, are unaware of Cosmos. Go to any non-Cosmos hackathon, and you will be blown away by the number of developers who work in Web3 and have no clue what Cosmos is.
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Big shoutout to the
@archwayHQ
community! Enjoyed watching the governance votes on prop 33, 34, 35. Thanks to
@EricWaisanen
and the
@axvdex
crew for putting up a proposal – not an easy feat. Encouraging both Astrovault and the liquidity council to figure out a solution.
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The launch of Archway represents more than just the fruition of the community's hard work; it's a milestone for the greater crypto ecosystem.
Our shared mission has been to bridge gaps in the industry and pioneer a new path for sustainable blockchain economies.
(2/6)
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Wow,
@ArchiesNFT
is really blowing up. 😱
At first, I thought it would be cool if it could get to be a top 10 collection in
@cosmos
.
But now, I’m wondering if it could be a top 10 collection in web3.
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I’m excited to go and support
@CosmoverseHQ
this year. The team and conference is great.
Although, I won’t be speaking…..
I thought it was wrong to go and spend approx $10k-$50k+ USD this year on a speaking slot, when many dApps and teams are struggling.
Thoughts?
Right choice
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Wrong choice
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Thank you for your support in our journey to empower developers and build a platform that fosters success and innovation for all.
[8/8]
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How does
@cosmos
Proposal 895 not screw over
@Neutron_org
?😭
And that’s why
@archwayHQ
choose not to do ICS.
Fair warning to all ICS chains, the
@cosmoshub
will eat your lunch.
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It prompted the question: Why continue to build on a platform that doesn't fairly reward contributions and its contributors?
That's why I started Archway, aiming to create a fairer, developer-first ecosystem that aligns the interests of all participants.
[6/8]
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As a developer, I've faced the challenges of building apps on traditional Web 2 platforms like iOS, Android, and Facebook Marketplace.
These platforms exert control, often leaving devs at the mercy of arbitrary rules and insiders' whims.
[2/8]
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I’ve been thinking a lot about
@archwayHQ
narrative.
What aspects of
@archwayHQ
do you believe people may not grasp fully?
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@archwayHQ
ecosystem is very much under appreciated right now. Especially compared to every other CosmWasm chain. 🤷🏼♂️ Let’s change that, plz share.
April Alpha 👇
@Amburxyz
launching with
@ArchiesNFT
(~2 weeks). Many other high quality collections queued up. NFT summer on
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I’m committed to building a community that values fairness, rewards creativity, and provides a platform where developers can innovate without fear of exploitation.
Join me in creating a better future for developers and the wider community.
[7/8]
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Sounds a lot like
@archwayHQ
1/ My thoughts on value accrual and redistribution in L1 chains. 🧵👇
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This is why
@archwayHQ
is self sovereign.
P.S. I’m a big supporter of the cosmos hub and all the teams working hard to make it better. I’m also very impressed with the technical implementation of ICS.
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I've invested time, energy, and money into building apps, only to find myself ranked at the bottom of curated lists, with little control over distribution.
These platforms set their own rules, charge what they please, and take large cuts from devs' revenue.
[3/8]
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2/ It's evident that when dApps reside on app-specific chains, they often feel like second-class citizens compared to the main use case. This limitation hampers their potential and hinders their growth.
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After working in the Ethereum ecosystem, I noticed some of the same issues that plagued traditional platforms were present here too.
Insider deals, value extraction, and lack of incentive for key players to contribute actively began to emerge.
[5/8]
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Despite the promise of choice and control, developers can often feel like small players in an ecosystem where benefits flow towards those in power.
Enter Ethereum, which initially offered a decentralized future, giving developers more control and freedom.
[4/8]
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3/ However, we shouldn't allow these issues to hinder integrations. What if app chains embraced a new approach, considering dApps as extensions?
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8/ By reframing the relationship between L1 chains and app chains, we can create a Cosmos ecosystem that thrives on the collaborative synergy between different components. Let's embrace a future where dApps play a vital, but different role on each chain.
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The Archway community looks forward to supporting dapp developers on chain.
Whether you're looking to build the next generation of DeFi protocols, NFT marketplaces, or innovative crypto applications, Archway offers a community-built platform for your creativity.
(5/6)
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4/ This perspective enables the addition of extensible functionality that enhances the core use case, much like how the Shopify app store extends storefronts.
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6/ The only reason app-specific chains should enable dApps (extensions) is if they have a strong and compelling reason to extend their core functionality. It's essential to ensure that the integration truly adds value and enhances the core value proposition.
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v3.4.0 has been released. Shout out to phi labs devX team.
It brings the ecosystem page mvp with fast search backend integration + several minor tweaks and fixes.
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Archway embodies blockchain's core principles:
- Decentralization
- Democratization of value
- Fostering innovation.
The Value Capture Engine demonstrates the commitment to rebalancing value distribution in the crypto space.
(3/6)
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What's the most exciting potential use case you see for
@archwayHQ
that isn't being talked about enough?
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As the Archway community celebrates today's launch, the journey is just beginning.
Excited to see Archway evolve with brilliant innovations from the developers.
Here's to a community-driven, sustainable, and equitable crypto future!
#ArchwayMainnet
(6/6)
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