Metis announced a massive $400m incentive program for Dapps starting in January 2024.
Here's what you need to know about Metis and how you can benefit from this opportunity.
As always, we first need to know what Metis is.
Metis is a "hybrid" L2 rollup that settles on Ethereum. It combines the best of both worlds: optimistic rollup features and zero-knowledge proofs.
It means Metis is more cost-efficient and EVM-compatible than Optimistic rollups.
Why are we bullish on Metis? Remember what happened when Avalanche launched "Avalanche Rush" with $180m in 2021? $AVAX went 8x and TVL grew 57x in 90 days.
This is the power of Ecosystem Incentives. Metis TVL grew 300% after the news.
The Metis Ecosystem Development Fund (#MetisEDF) will consist of 4.6m METIS tokens. Its purpose will be to incentivize product development and activities within the Layer-2 Metis solution.
The Metis ecosystem fund covers almost all areas of blockchain. Therefore, almost all projects that are on other chains can participate.
Think about it: if you are a developer and already have a project on other chains, why not create a fork to benefit from the Metis program?
Metis' Sequencer Pool is a unique feature. It will launch in January, making it the first rollup to decentralize its sequencer. This is a big deal for security and scalability:
• Sequencer rotation
• Expulsion of bad actors
• Enhanced network stability
Metis' Decentralized Sequencer offers 24/7 liveness, enhanced security, and revenue sharing through Sequencer Mining.
Through revenue sharing, Metis will offer a new way for node operators to earn revenue on Layer 2.
The timing of the Metis upgrade and incentive fund is perfect because it is at the time of the Ethereum Dencun Upgrade and Bitcoin Spot ETF approval. Ethereum Spot ETF after Bitcoin Spot ETF and Ethereum Layer 2 will become popular narratives.
$METIS token is used for gas fee payment on its Layer 2, not used $ETH. When demand for Dapps on Layer 2 increases, it causes an increase in demand for $METIS.
Of course, $METIC tokens can be used to govern the network. Each voting period is 72 hours and you need $METIS tokens in your digital wallet on L1/L2 to vote.
Stats for Metis and other popular L2 on Dec 29th:
Mcap | FDV | TVL
Metis - $381m | $831m | $61m
Optimism - $3b | $15b | $900m
Arbitrum - $1.8b | $14.52b | $2.4b
Mantle - $2b | $3.9b | $123m
Immutable - $3b | $4.9b | $38m
Metis is undervalued and has a lot of room to grow.
I’m bullish on $METIS and its ecosystem projects. They have low market caps and huge potential.
Are you interested in Metis ecosystem projects?
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