Lava Mainnet begins generating revenue with restaking
News & Updates
Lava Foundation
Oct 21, 2024
You're already using Lava without knowing. Now you can contribute.
Lava Network is the restaking protocol for making dapps and wallets faster and more reliable. Our vision is to 10x the onchain experience for everyone by providing high performance data infrastructure. Lava is chain agnostic.
The network is growing quickly and already used by:
LAVA token powers the protocol in various ways, including staking and restaking. There are several ways to use the token and contribute to the network:
As the network supports more chains, revenue will grow and is paid out to all network contributors.
On October 17th, revenue was distributed for the first time to network contributors on Lava. It consisted of ATOM tokens from Cosmos Hub.
Lava operates as a marketplace for blockchain infrastructure, and earns revenue from blockchains and rollups. These chains pay the network for supporting their chain with RPC, by hosting incentive pools on Lava consisting of their native token.
Network revenue is distributed onchain, on the 17th of each month.
Incentive pools attract contributors to Lava, who can serve as Validators, secure the network by staking LAVA, or provide data by running RPC nodes. RPC Providers support essential onchain actions such as transactions, minting, staking, and deploying smart contracts. Contributors can also restake LAVA to a Provider, helping make performance faster and more reliable.
Lava’s momentum continues to build. So far, over $1M in token incentives is set to be distributed on Lava, supporting RPC and infrastructure for chains such as Cosmos Hub, Filecoin, Starknet, Union and many others. The incentives consist of tokens from these supported chains, with NEAR, EVMOS and AXELAR already distributed to RPC Providers while Lava was in testnet.
The first blockchain supported on Lava Mainnet was Cosmos Hub, on 17 September. Network contributors can earn ATOM monthly for providing Cosmos Hub with fast and reliable RPC.
Two more chains were added this month and rewards will begin on 17th November:
LAVA token powers the protocol in various ways, including staking and restaking. There are several ways to use the token and contribute to the network:
Reminder: LAVA is a capped supply token with no inflation. Rewards derive from blockchains who pay the network for infrastructure services.
Lava Network is the underlying protocol that makes dapps and wallets faster and more reliable, on any blockchain. NEAR Protocol, Starknet, and 35+ chains are already supported, with Lava’s RPC services handling more than 77 billion data requests across over 2.3 million monthly users. Contributors can run validators, provide data or restake to improve service performance.
Lava’s aim is to 10x the onchain experience for everyone.
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