What is Archer DAO Governance Token (ARCH) | What is ARCH token

Miners are the invisible guardians of Ethereum. Every Ethereum transaction is published by a miner and stored on the shared ledger. Every mined block further secures Ethereum’s rich history.

Today, miners are compensated by block reward subsidies and transaction fees. Archer introduces a valuable new revenue stream for miners by executing profitable on-chain opportunities.

Archer is a sustainable revenue source that boosts miner revenue and strengthens the Ethereum ecosystem.

The Unstable Foundation of Mining Revenue

Ethereum miners currently earn around 11,500 ETH per day in block rewards. Historically, these rewards have formed the vast majority of revenue. However, miners cannot fully rely on revenue from block rewards. For example, in August 2020, Ethereum community members proposed a block reward reduction of 75%.

This summer, miners began to accrue significant transaction fees. In September, for the first time ever, miners earned more in transaction fees than block rewards.

A history of variable mining rewards (Source: The Block)

Mining operations carry risk. Revenue is variable and forecasting is an exercise in uncertainty. Unlike Bitcoin’s famous four-year halving schedule, Ethereum block reward subsidies are subject to significant change on short notice. Meanwhile, operating expenses (e.g. electricity) and capital expenditures (e.g. mining equipment) are certain and usually paid in fiat.

Archer gives miners more certainty by boosting and diversifying revenue streams.

How Archer Boosts Miner Revenue

Archer uses on-chain incentive mechanisms to boost miner revenue.

Opportunities take the form of dex arbitrage, lending liquidations and other zero-risk or risk-minimized ways to add value to mined blocks. The system evaluates each opportunity and sends miners transactions that maximize their revenue. In short, Archer replaces low-value transactions with high-value transactions.

Suppliers are an elite group of on-chain analysts who are responsible for discovering on-chain opportunities. Suppliers who submit profitable opportunities share revenue with miners.

Example transaction from technical pilot

Archer Benefits the Application Layer

The core benefit of Archer for miners and suppliers is clear: better revenue. Stakeholders on the application layer also benefit from a reliable connection to block producers.

On-chain incentive mechanisms become more effective and front-running becomes less effective. These benefits lead to many potential improvements to the Ethereum user experience, including:

• Lower collateral ratios due to more robust liquidations
• Consistent spot prices across dexes
• More reliable incentive mechanisms
• Less front-running
• Private channels to submit transactions

The losers in this equation are existing bots, especially those that front-run transactions in the mempool and strain the network.

Archer aims to improve the Ethereum ecosystem by focusing on sustainable revenue and contributing to a well-functioning network.

An Ownership Economy with Archer DAO

Archer has been designed to be managed as a DAO from its inception due to its many diverse stakeholder groups. Archer affects all Ethereum users, regardless of whether they are aware it exists and whether they actively participate in the Archer network.

Active participants in the network will be rewarded ARCH governance tokens. These tokens may be used to join private discussion channels and vote on issues facing the network.

We look forward to productive discussions about the short- and long-term effects of Miner Extractable Value, leading to tangible outcomes from governance processes.

Archer is Live in Production Today

Archer has been running in production since August, consistently producing additional revenue for miners. This highly successful technical pilot has allowed us to streamline new integrations to a five-minute process for block-producing nodes.

We are currently working to expand the network by including more miners and suppliers. If you are interested in joining the network, please  book an intro call and join our community.

ARCH Token

The tokens will be distributed in the following way, with a 100M ARCH total supply:

ARCH token distribution

We have sold 11% of the ARCH tokens in an initial sale. In total, 11M ARCH tokens were sold for USD 1.3M (average price per token USD 0.13). The sale rounds and vesting schedules are as follows:

• **4,000,000 at USD 0.10 **— 25% unlocked; 75% six-month vesting schedule
• **6,250,000 at USD 0.12 **— 25% unlocked; 75% six-month vesting schedule
• 750,000 at USD 0.20 — unlocked

The initial circulating supply from the sale will be 3,312,500 ARCH tokens.

1% of the tokens — 1,000,000 ARCH — will be used for dex liquidity. Any resulting liquidity tokens will be owned by the DAO treasury. The liquidity will be locked for no less than six months.

14% of the tokens belong to the founding team and advisors. All team and advisor tokens vest over two years with a six-month cliff.

All vesting balances mentioned above will vest in a smart contract according to a linear and continuous schedule. Grantees may claim unlocked balances at any time. All tokens in the vesting contract count towards voting power in Archer DAO.

50% of the ARCH token supply will be held by the DAO treasury. These tokens are intended to incentivize DAO participation, as explored in our  overview of network governance.

The remaining 24% of ARCH tokens will be held in a team multisig. These tokens are earmarked for foundation, marketing and development budgets over the next 12 months. It is reasonable to assume the following:

• Foundation tokens will be locked until they are required.
• Marketing and Development tokens are effectively vesting over the 12-month period and will only be utilized for extreme value-add activities.

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