Dubai, United Arab Emirates, April 23, 2024, Chainwire

The launch of Part 1 of the Metis distributed sequencer improve final month established Metis because the first-ever rollup platform with a distributed sequencer. Metis has now begun Part 2, which introduces a number of enhancements geared toward bettering community incentives and participation.

Amongst different constructive adjustments, Part 2 of the decentralized sequencer improve introduces the most recent and most anticipated characteristic in layer 2 networks: sequencer mining.

Sequencer Mining permits customers to lock their tokens by means of an LST supplier, contributing to the safety of the community. Primarily, these LST suppliers work together with sequencers and customers work together with liquid staking suppliers to obtain liquid staking tokens that may be reused in different DeFi dApps or just held. By way of Metis' Group Ecosystem Governance (CEG), the group has chosen Artemis Finance and Enki protocols as her two LST protocols for alpha section.

For the primary 12 months, sequencer nodes will profit from a 20% mining reward fee (MRR). This is similar fee at which good contracts reward members for block manufacturing. As well as, the Metis Liquid Saking Blitz (LSB), supported by Metis EDF (EPA:), offers grants to verified tasks to speed up development. In 2024 alone, greater than 220,000 METIS have dedicated to grants to assist MetisLSB and foster the expansion of LST merchandise in Metis. Previous to the official launch of Sequencer Mining, there was notable exercise round LST-related merchandise, together with deployments with collaborating swimming pools in Shoebill Finance, Stablis Protocol, and Hercules Finance.

Metis has secured essential partnerships with acknowledged cryptocurrency establishments that can assist the community obtain correct decentralization and excessive participation charges in decentralized sequencers.

Customers can instantly deposit and begin mining by means of Artemis. ENKI will likely be absolutely launched on mainnet quickly, however customers can already take part within the “Presstake” program.

About Artemis

Artemis Finance is a liquid staking protocol designed particularly for the Metis decentralized sequencer. Customers can stake METIS tokens on Artemis Finance and obtain liquid staking token artMETIS.

About Enki

The Enki protocol is a Metis-native liquid staking protocol that leverages the dual-token structure of protocols like Frax and Lido to implement probably the most confirmed LST design on the Metis distributed sequencer. Customers can stake her METIS and obtain seMETIS by way of her Enki, however the protocol leverages her ENKI for governance.

About Metis

Metis is a layer 2 protocol equal to EVM centered on bridging the hole between Web2 and Web3. Metis offers customers with a decentralized, scalable, and easy-to-use community secured by Ethereum. With the launch of Decentralized Sequencer, Metis turned the primary Ethereum rollup to decentralize sequencers. This will increase community safety and offers extra potential income alternatives for customers.

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This text was initially revealed on Chainwire