Review 1# Arche V1.1 Eros Test Network

Moon to Mars, our journey starts from here.

Arche’s test network campaign brought us surprising joys and valuable experience. More than 80,000 users participated in the test network Pre-event on CoinMarketCap, with over 5,000 of them from more than 30 different countries has participating in the testing campaign and providing hundreds of valuable comments and suggestions for Arche Protocol.

We would like to thank our global partners, community leaders, and supporters from more than twenty countries around the world. Together we have created this exciting take-off!

During the first week of Arche V1.1 Eros test network campaign, we encountered many problems and challenges. For example, when thousands of participates join the campaign made Ropsten test network quickly reached the maximum number of trades that The Graph tool could store which cause test network data updates to be interrupted; The traffic on the test network cause testers to wait hours for the approval of one order; Orders were reported incorrectly which cause tester cannot create new orders due to decimal point value issues, and more.

Fortunately, together with our testers, we have witnessed the growth of Arche Protocol. Through these challenges, our community has gained a deeper knowledge of Arche and our team has gained very important feedback and experience.

Team Arche valued all the opinions and feedback from each tester and iterated the test network at the same time. According to the feedback from the test network, we will carry out a comprehensive optimization for Arche Mainnet , including order creation incentives, matching incentives, and trading incentives.

The Arche V1.1 product is called Eros, it’s a primordial god and the god of love in Ancient Greek Mythology. We have chosen this name for the first tools on Arche and our journey officially begins.

Prospects the future of ARCHE Network from Eros

The main content of this chapter:

  • Where does Eros stand for as a V1.1 product?
  • Interesting spots of Eros
  • Data of Eros
  • Income of Eros

Where does Eros stand for as a V1.1 product?

Eros is a Spot OTC product built on Arche contract factory that serves a non-standard financial marketplace. We launched Eros as a V1.1 product and held three types of testing events to educate users about this peer-to-peer market in a non-standard financial marketplace.

Interesting spots of Eros

Eros also showed some unique models in the recent popular testnet trading game. Users could customize their financial contract and set any price of the token and the users could also help others to share the orders and earn the pairing rewards. This incentive can provide more sufficient liquidity for OTC sellers.

Data of Eros

At present, the number of orders created on our testnet exceeds 27,985 within a few days, and the number of transactions exceeds 31,545. With greater incentives after Arche’s main network launch, we believe that OTC orders on Eros will have more liquidity. The mentioned on-chain data also proves the uniqueness of Eros, but this is only a preliminary attempt of Arche. We hope the earliest seed users could earn greater than the amount they trade by holding ARCHE.

Income of Eros

Arche treasury address is:

0xd2364c3cC0F1757C5AaD5312729c7fE64A8A85e9

Current Arche treasury revenue is: Arche (430,000+), BTC (4100+), UNI (8500+), rETH (7300+). This income is from 0.3% of the commission for each transaction (This commission will be 0.1% on mainnet) and pairing rewards.

The income sources of the treasury are mainly divided into contract creation fees, transaction commission fees, rewards for matching orders, and investment income from Arche ecology projects.

All early expenditures of the Arche Treasury will be used to burn ARCHE, which means that ARCHE will continue to deflate. In addition to being used as bounties, ARCHE will also be used as a commission for creating financial contracts in the future. At the same time, staking ARCHE in return for vARCHE (vARCHE is used to participate in dividends and governance) is another important design of Arche ecosystem. Based on ARCHE’s burning and consumption scenarios, ARCHE tokens will be in a stage of short supply in the early stage.

More you have to know:

  • ARCHE TOKEN hasn’t been issued, Arche token contract address will be published on all official channels in the future.
  • Arche Team never has a token sale for an individual. All token sale will have an agreement with Arche Network Foundation LTD, and only for the Institution which is compliant with the local regulation and legislation requirements.
  • Arche Team never PM you for FUND, SEED PHRASE, Private KEY. All are scams.

Arche Network is committed to building a user-friendly decentralized crypto asset store in Metaverse with a DPaaS architecture.