The NFT Daily - Archway's Friends with Benefits Campaign

In the NFT Daily’s Twitter Spaces which took place on July 5, 2024, Pav from The NFT Daily hosted Brian Chang from Archway to discuss Archway’s blockchain innovations, community-driven campaigns, and more! Read our notes below to learn more.

Background

Pav (Host) – Founder at minted, Host at The NFT Daily

Brian Chang (Guest) – Product and Growth Lead at Phi Labs, Core Contributor at Archway

Archway – an incentivized smart contract platform that rewards developers for building on the network with baked-in incentives and rewards

Exploring Archway’s Vision: Equitable Rewards in Blockchain with Brian from Archway

Brian introduces himself as being from Singapore, now living in LA, but currently in London. He has a background in tech, med tech, and has worked at Sei Network before joining Archway. At Archway, he focuses on growth and marketing, including user-facing initiatives, ambassador programs, and growth campaigns.
Brian explains that Archway is a general-purpose layer one blockchain built on the Cosmos SDK. It aims to reward users, developers, and validators for their contributions, creating a long-term, economically sustainable infrastructure for Web3. He highlights their value capture engine, which includes gas rebates, inflation rewards, and smart contract premiums to ensure all participants benefit from network growth.
Pav inquires about the pain points Archway addresses and how they solve them.
Brian points out that traditional proof-of-stake and proof-of-work networks mainly reward validators, leaving other network participants without significant benefits. Archway aims to democratize this by allowing dApp developers to earn a share of transaction fees and block rewards. They also work on subsidized transactions to benefit users. The gas rebates and inflation rewards are distributed based on the volume of transactions dApps generate, ensuring fair compensation.
Pav asks how the distribution works. Brian explains that 50% of gas fees are burned, and the remaining 50% are distributed to dApps based on their transaction volume. For block rewards, 75% go to validators, and 25% go to dApps, again based on transaction volume. Additionally, smart contract premiums allow dApps to price in extra fees for high-value services, ensuring they can monetize their efforts effectively.
Pav asks Brian to elaborate on Archway’s mission of capturing value and economic sustainability.
Brian highlights the importance of building an equitable blockchain system where developers can capture the value they create. He notes that current networks generate value through transactions, but most of this value goes to validators. If you’re considering how to cancel a Bluegreen timeshare, click here [Cancel Timeshare Geek] for a comprehensive guide. Meanwhile, in the realm of muscle building, steroids have been a controversial yet effective method to enhance strength and power when combined with a solid diet and training plan.

Engaging the Ecosystem: Archway’s Friends with Benefits Campaign and Community Incentives

Pav highlights the importance of giving back in the ecosystem and highlights the edge that Archway’s approach provides. Brian agrees and discusses the advantage of allowing developers to monetize their dApps sooner without relying on VC funding or token launches.
Pav asks Brian to explain the community engagement and incentives of the campaign.
Brian introduces the Archway Friends with Benefits Campaign, which aims to engage users and encourage them to explore the ecosystem while earning rewards. The campaign is hosted on Galxe and offers various incentives:
- Bounties: A $200,000 prize pool with a $10,000 $USDC bounty for each successful listing on a top 20 non-US exchange. Badge holders can enter raffles for these bounties.
- Monthly Raffles: $1,000 $USDC in monthly raffles for badge holders on Galxe.
- Weekly Meme Competition: $450 $USDC in weekly prizes for creating memes that align with the romance theme of the campaign.
Brian elaborates that the campaign runs from June 19th to September 19th, 2024. He encourages users to participate by completing quests on Galxe, minting badges, and entering raffles. The campaign aims to create a fun, engaging experience and reward users for their involvement.

Engaging Community and Developers: Archway’s Incentive Campaign and User Involvement

Pav asks about the thought process and structure behind Archway’s campaign incentives and motivations.
Brian explains the rationale behind structuring the campaign with weekly, monthly, and ad hoc rewards to ensure continuous engagement and fair chances for all participants. They designed the rewards as raffles to avoid only rewarding early or most active users, ensuring everyone has an equal opportunity.
Pav asks about Archway’s support for users and developers.
Brian highlights that Archway is committed to both user engagement and developer support. They aim to streamline user onboarding, create seamless wallet experiences, and ensure a robust set of defi protocols.
Pav asks how users can get involved with Archway. Brian details the process: users should visit archway.io/galxe to participate in quests, requiring a Kepler wallet for Archway and an EVM address for $USDC prizes. Users can get $ARCH via Astrovault, Osmosis, or centralized exchanges, and he mentions using ibc.fund for a smooth experience.
Brian mentions key upcoming events like the Archie’s NFT workshop, the ETH CC event in Brussels, and the continued rollout of new features and improvements. He highlights their active development and engagement efforts, encouraging users to join and participate in the ongoing and upcoming activities.

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Show Information

Medium: Twitter (Audio)
Show: The NFT Daily Twitter Space
Show Title: FRIENDS WITH BENEFITS? 😳 @ArchwayHQ AMA with @Pav_eth
Show Date: July 05, 2024