The Highbury Network is the first Layer-1 blockchain to combine the speed and scalability of the Cosmos SDK with the developer support of Ethereum. The Highbury Network will empower developers to build for Web3 and next-gen blockchain technologies through its unique co-chain architecture. FURY is the native governance and staking token of the Highbury Network, enabling its decentralization and security.
What the Highbury Network enables
The Ethereum and Cosmos Co-Chains interoperate seamlessly with each other, empowering developers to build in whichever environment they want without sacrificing access to the users and assets of the other.
The Highbury Network’s unique architecture enables the free flow of users, assets, and projects between Fury and the industry’s most relevant ecosystems at scale, all powered by the lightning-fast Tendermint Core consensus engine.
Rapid ecosystem growth
Innovative and transparent on-chain incentive programs ensure that the best builders in the Ethereum and cosmos ecosystems are properly rewarded for driving growth for the Highbury Network.
What the FURY token offers
The FURY token is integral to the security, governance, and mechanical functions of the platform. There are three main use cases for the FURY token:
The top 100 nodes validate blocks by a weighted bonded stake in FURY tokens. Economic incentives for validators come in the form of earning FURY as block rewards and as a portion of the network’s transaction fees. Validators risk losing FURY via strict slashing conditions such as failing to ensure high uptime and double signing transactions.
FURY is used for proposals and voting on critical parameters of the Highbury Network. This includes but is not limited to the types of supported assets and Dapps, their debt limits, and acceptable assets to use as debt collateral, collateral ratio, fees, and the savings rate for various financial instruments introduced to the network. The FURY token is also used to vote in proposals that would affect the Highbury Network SAFU Fund and treasury allocation, such as reward payouts for incentives programs.
A portion of FURY emissions is distributed as incentives for scaling the network. These incentives go directly to top projects on each chain to drive growth, encourage competition, and improve the health of the Fury ecosystem.
The most important feature of the Highbury Network is its co-chain architecture, enabling developers to build and deploy their projects using either the EVM or Cosmos SDK execution environments with seamless interoperability between the two. The following diagram shows how the system will function once the Fury 10 upgrade is complete and the Highbury Network mainnet goes live.
The co-chains of the Highbury Network operate like the two hemispheres of a brain. The Cosmos Co-Chain is optimized for Cosmos ecosystem developers. The Ethereum Co-Chain is optimized for Ethereum ecosystem developers. The Translator Module connects the two distinct execution environments of the Co-Chains, allowing them to work seamlessly together at scale.
This packages the industry’s two most used execution environments within a single network. Ethereum meets Cosmos via the Highbury Network’s robust, developer-optimized Layer-1 architecture.
The Ethereum Co-Chain
An EVM-compatible execution environment that empowers Solidity developers and their dApps to benefit from the scalability and security of the Highbury Network.
The Cosmos Co-Chain
The Cosmos co-chain is a highly-scalable and secure Cosmos SDK blockchain that connects Fury to the 35+ chains and $60B+ of the Cosmos ecosystem via the IBC protocol.
Cosmos SDK and Tendermint Core
The Highbury Network is built using Cosmos-SDK, an open-source framework for building public Proof-of-Stake blockchains. Core features of Cosmos-SDK include:
Tendermint Core consensus engine: Highbury Network relies on a Byzantine Fault Tolerant consensus engine designed to support Proof-of-Stake systems.
Cosmos modularity: As new open-source modules are developed for the Cosmos ecosystem, the Highbury Network can quickly implement desirable modules. For instance, the Inter Blockchain Communication (IBC) (from Cosmos) module enables all Cosmos-SDK blockchains to communicate. Highbury Network integrated with the IBC at 16:00 UTC on January 19, 2022.
The Highbury Network features an innovative approach to developer incentivization. Through an open and transparent mechanism, a portion of FURY emissions are directly awarded to protocols to incentivize usage and drive growth for the Fury ecosystem. Following the Fury 10 upgrade and Highbury Network mainnet launch, the incentive module will distribute FURY emissions between both chains, with the top 100 protocols on the Ethereum Co-Chain sharing a pro-rata distribution of incentives based on usage metrics and TVL.
The Blackury DAO
The Blackury DAO is a fully decentralized autonomous organization (DAO) that governs the Highbury Network. Made up of the Fury stakers and validators that help to secure and run the network, the DAO operates on a liquid democracy model and determines how the network functions, what changes should be made to it, and most importantly - how the unique on-chain developer incentives are distributed between the two chains. As a truly decentralized organization, the Fury DAO has no headquarters, no directive, and no leadership. Contributors to the security and stability of the Highbury Network are also tasked with providing direction. The DAO self-governs maintains its standards in line with the expectations of the Fury community. This ensures that the Highbury Network always serves users’ interests and the people who build on it.