Lava Network (LAVA)

"Lava is built as an application-specific L1 PoS Blockchain, based on CosmosSDK. We are building the most reliable, modular, and extensible network, which ensures high network performance and secure blockchain access for all web3 APIs."

Basics

• Based in:
• Started in / Announced on: 2022
• Testnet release:
• Mainnet release: aiming for Q1 2024 (as of 28-11-2023). Launched on 30-7-2024.

Audits & Exploits

• Bug bounty program can be found [insert here].

Token

Launch

• Lava Network kicked of its phased mainnet launch and airdrop of 55 million LAVA tokens, starting with $2 million in incentives to pay out to network participants (30-7-2024). The project is experimenting with its tokenomics by starting with a high token float and a capped supply.

Technology

• Whitepaper or docs can be found here.
• Code can be viewed [insert here].
• Consensus mechanism: Tendermint (12-2023).
• Algorithm: PoS
• Virtual Machine:
• Development language used:

Transaction Details

• Capacity (TPS):
• Latency:

How it works

• From Onchain Times (12-3-2024):

"A modular data layer that chains and rollups can tap into. Lava is essentially an rpc and indexing layer for chains. Data-accessing is in many cases fragmented and so by using the Lava network, chains can ensure easy and fast data-access for users and developers."

Staking

LAVA holders are incentivized to stake their tokens to secure Lava while receiving a reward in return. Validators earn LAVA from the creation of new blocks and the transaction fees, and on the other hand - slashing may occur to punish bad actors, all facilitated by Tendermint's consensus protocol.

Roadmap

• Can be found here.

Competition

• From The Block (7-5-2024):

"Lava is a modular blockchain network, which can be compared to the popular project Celestia. While Celestia is focused on data availability, Lava is focused on data access through remote procedure calls (RPCs)."

Team, Funding and Partners

Team

• Full team can be found [here].
• MagmaDevs (formerly Lava Protocol Inc.)
• Amir Aaronson; head of the foundation

Funding

• From The Block (7-5-2024):

"Lava Foundation, a newly formed non-profit raised $11 million in a funding round including Animoca Brands, Gate.io Ventures, CoinGecko Ventures, Polygon co-founder Sandeep Nailwal, Ash Crypto, CryptoLark, and media outlets Crypto Times Japan, Le Journal Du Coin and The Rollup, among other investors."

• MagmaDevs (formerly Lava Protocol Inc.) raised $15M from Hashkey, Tribe Capital, Jump, Quiet, North Island Ventures, Node Capital, Finality, Chorus One, Protocol Labs, Keplr, ChainLayer, StarkWare and more (15-2-2024).

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