Metis Unveils Decentralized Sequencer Phase 2, Empowering Network Participation and Driving Innovation

Metis, the first rollup platform with a decentralized sequencer, has launched Phase 2 of its upgrade, introducing Sequencer Mining and other enhancements to improve network incentives. Users can now lock their tokens via Liquid Staking (LST) providers to participate in network security and earn rewards. Phase 2 also introduces the Artemis Finance and Enki Protocol as the LST protocols for the Alpha Phase, with a dedicated grant program supported by the Metis EDF to accelerate growth of LST products on Metis.

Metis Unlocks Decentralized Sequencer Phase 2: Ushering In Sequencer Mining and Unprecedented Network Participation

Dubai, UAE, April 23rd, 2024 - Metis, the trailblazing Layer-2 Ethereum rollup platform, has propelled its innovative journey by unveiling Phase 2 of its groundbreaking Decentralized Sequencer (DS) upgrade. This significant milestone introduces a constellation of enhancements that aim to amplify network incentives, foster participation, and empower users to leverage the full potential of Metis's decentralized architecture.

Sequencer Mining: A Paradigm Shift in Network Security

Phase 2 of the DS upgrade heralds the introduction of the highly anticipated Sequencer Mining feature. This transformative innovation empowers users to contribute to the network's security by locking their tokens through Liquid Staking (LST) providers. These LST providers serve as intermediaries, enabling users to interact with the Sequencer and receive Liquid Staking Tokens (LSTs), which can be seamlessly utilized in other DeFi decentralized applications (dApps) or held for future appreciation.

During the Alpha Phase, the Metis community, through its Community Ecosystem Governance (CEG), has meticulously selected Artemis Finance and Enki Protocol as the two LST protocols. This strategic partnership ensures the availability of a robust and diverse LST ecosystem from the outset.

Incentivizing Participation: Unlocking Revenue-Generating Opportunities

In a bold move that underscores its commitment to fostering network participation, Metis has announced an alluring Mining Rewards Rate (MRR) of 20% for sequencer nodes in the first year of operation. This generous incentive aligns with the rate at which smart contracts compensate participants for producing blocks. Furthermore, Metis Liquid Staking Blitz (LSB), bolstered by the Metis Ecosystem Development Fund (EDF), will distribute grants to verified projects to accelerate growth and innovation within the LST ecosystem. A substantial 220,000 METIS has been earmarked for grants in 2024 alone, serving as a catalyst for the proliferation of LST products on Metis.

Partnerships Pave the Way for Decentralization and Mass Adoption

Metis has forged strategic partnerships with renowned crypto institutions to accelerate the network's decentralization and attract a diverse pool of participants. These partnerships will provide crucial support in ensuring the stability, security, and widespread adoption of the Metis Decentralized Sequencer.

Artemis Finance: A Liquid Staking Tailored for Metis

Artemis Finance, an innovative liquid staking protocol meticulously designed for Metis's Decentralized Sequencer, allows users to stake METIS tokens and receive artMETIS, a liquid staking token that unlocks a world of possibilities within the Metis ecosystem.

Enki Protocol: Battle-Tested LST Architecture for Metis

Enki Protocol, a Metis-native liquid staking protocol, leverages the dual-token architecture pioneered by protocols such as Frax and Lido. This battle-tested design ensures the highest standards of security and reliability for the Metis Decentralized Sequencer. Enki users can stake METIS to receive seMETIS, while the protocol utilizes ENKI for its governance mechanism.

Metis: Bridging the Chasm Between Web2 and Web3

Metis, an EVM-Equivalent Ethereum Layer-2 protocol, is dedicated to seamlessly bridging the gap between Web2 and Web3. By providing a decentralized and scalable network secured by Ethereum, Metis empowers users with a user-friendly platform that unlocks the transformative potential of Web3. Metis has cemented its status as an Ethereum rollup leader by decentralizing its sequencer, enhancing network security, and opening up unprecedented revenue-earning opportunities for its users.

Join the Metis Revolution: Tap into the Power of the Decentralized Sequencer

Users can embark on their Sequencer Mining journey and start earning rewards immediately through Artemis Finance. ENKI is currently preparing for its Mainnet launch, but users can participate in its "Pre-Staking" program to secure their place in the upcoming revolution.

As Metis continues to blaze a trail in the Web3 landscape, the Decentralized Sequencer Phase 2 upgrade marks a pivotal moment in its evolution. Sequencer Mining, coupled with strategic partnerships and a supportive ecosystem, will propel Metis to new heights, empowering users, fostering innovation, and shaping the future of decentralized finance.

About Metis

Metis is an EVM-Equivalent Ethereum Layer-2 protocol that empowers users with a decentralized and scalable network secured by Ethereum. Focused on bridging the gap between Web2 and Web3, Metis has become the first Ethereum rollup to decentralize its sequencer, marking a significant milestone in the industry. By introducing innovative features like Sequencer Mining and fostering a vibrant ecosystem, Metis is poised to revolutionize the way users interact with Web3.

Contact

Jamie Kingsley
Metis
[email protected]

Disclaimer

This is a sponsored press release and is for informational purposes only. It does not constitute investment advice or any other form of financial advice. Please do your own research and consult with qualified professionals before making any financial decisions.