Lava Network price

LAVA

#3007

Instead of users depending on one centralized entity, RPC providers permissionlessly join Lava to handle requests. Lava protocol aggregates providers and routes requests according to a Quality of Service algorithm, making service for users more reliable and decentralized. Each provider competes to handle more requests, by increasing their Quality of Service scores across latency, uptime and availability.

Lava has created a novel way to attract RPC providers to its network: Lava Pools. Chains, such as Ethereum, create incentive pools on Lava. These pools consist of rewards, typically the native token such as ETH, and rewards are paid monthly according to the number of requests a provider has served and the performance of that provider. Lava already supports or will soon support pools from NEAR, Evmos, Axelar, Starknet, Cosmos Hub, Filecoin, Union, Stargaze and more.

The LAVA token is a utility token and has a reward reserve to bootstrap initial supply-side in the first 4 years. There are several ways in which the token is used:

• Lava RPC and Validator node runners stake to join and secure the network
• Delegators can stake LAVA to Validators and restake it to providers on Lava
• Chains buy LAVA tokens to pay for Lava's modular blockchain service
• Developers will buy subscriptions in LAVA tokens to access more customized packages
• DAO members use the token to participate in governance