The Metis ecosystem grew strongly after announcing the growth incentive package
On December 18, MetisDAO Foundation officially announced the Ecosystem Development Fund (EDF) with a value of up to 4.6 million METIS. At that time, the value of this fund was only equivalent to about 100 million USD. However, to date, its value has increased to 360 million USD due to the “acceleration” of METIS coin in the past week.
According to the announcement, the Ecosystem Development Fund (EDF) will be used to promote product development and activities related to Layer-2 Metis. The project is expected to start disbursing funds from the first quarter of 2024, after successfully deploying the decentralized Sequencer network, node distribution technology to process transactions globally.
Related: Metis Ecosystem will Receive 100 Million USD
This move has attracted special attention and is expected to bring new capital to the entire ecosystem. However, it should also be noted that it is already having a significant impact on the existing network.
So @MetisDAO just announced a $330m incentive program following the launch of the sequencer pool in Jan.
A breakdown of Metis and how you can take advantage of this ecosystem boost👇
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1) The Impact of Ecosystem IncentivesMetis recently announced that 4.6m… pic.twitter.com/NmMnMp1LPk
— Thor⚡️Hartvigsen (@ThorHartvigsen) December 26, 2023
Based on data from L2Beat, the total value of assets locked on Metis surpassed $500 million yesterday, increasing fivefold compared to weeks before when the market remained low.
After the creation of the #MetisEDF, and a very active week for the ecosystem, TVL on Metis is up 300% and is currently standing at $400M.
Data: @l2beat pic.twitter.com/ZgkYuxaU5I
— Metis🌿 (@MetisDAO) December 25, 2023
Metis growth and the Metis ecosystem
Metis is one of the Layer-2 solutions on the Ethereum platform, providing the ability to perform transactions quickly and at affordable costs.
This Layer-2 native token of the same name has recorded an increase of nearly 50% in the past 24 hours thanks to positive information. The fluctuation amplitude of METIS in the recent 30 days is 270%. Trading volume also increased significantly, with more than 50 million USD traded in just the past day, while the transaction level in early December only reached about 2 million USD.
Not only the parent project, many child tokens in the ecosystem are also “inspiring” and also experiencing strong growth this week.
Most notably, the MAIA token of the Maia staking platform and the HERMES token of the swap protocol of the same name have had impressive increases, 98% and 142% respectively.
Annual returns from HERMES and METIS liquidity pools have also increased by up to 200%, while high-risk trading pairs are offering returns of up to 350%.
Trading volume on DEX Tethys also recorded impressive numbers, surpassing $18 million over the past 24 hours, compared to an average of less than $10 million in previous weeks. At the same time, the TETHYS token also experienced a price increase of more than 60%.
