Metis’ Sequencer Mining Goes Reside

Dubai, UAE, April twenty third, 2024, Chainwire

Final month’s launch of Section 1 of the Metis Decentralized Sequencer improve established Metis because the first-ever rollup platform with a decentralized sequencer. Metis has now launched Section 2, which introduces a number of enhancements geared toward bettering community incentives and participation.

Amongst different optimistic modifications, Section 2 of the Decentralized Sequencer improve launched essentially the most awaited characteristic updated for the Layer 2 community: Sequencer Mining.

Sequencer Mining will enable customers to lock their tokens by way of LST suppliers, contributing to the community’s safety. Basically, these LST suppliers will work together with the Sequencer, and customers will work together with the Liquid Staking suppliers, receiving a Liquid Staking Token that they’ll reuse in different DeFi dApps or simply maintain. Via Metis’ Neighborhood Ecosystem Governance (CEG), the group selected Artemis Finance and Enki Protocol as the 2 LST protocols for the Alpha Section.

Within the first yr, sequencer nodes will profit from a 20% Mining Rewards Charge (MRR), the identical fee at which good contracts compensate members for producing blocks. Moreover, Metis Liquid Staking Blitz (LSB), supported by the Metis EDF (EPA:), will present grants to verified initiatives to speed up progress. Greater than 220,000 METIS are dedicated in grants for 2024 alone to help MetisLSB and catalyze progress of LST merchandise on Metis. Previous to the official launch of Sequencer Mining, there was notable exercise with LST-related merchandise, together with deployments by Shoebill Finance, Stablis Protocol, and participation swimming pools on Hercules Finance.

Metis has secured necessary partnerships with acknowledged crypto establishments that can assist the community obtain correct decentralization and excessive participation charges on the Decentralized Sequencer.

Customers can deposit and begin mining instantly by means of Artemis. ENKI shall be totally launching on Mainnet quickly, however customers can already take part of their “Pre-Staking” program.

About Artemis

Artemis Finance is a liquid staking protocol designed solely for Metis’ Decentralized Sequencer. Customers can stake METIS tokens on Artemis Finance and obtain the liquid staking token artMETIS.

About Enki

Enki Protocol is a Metis-native liquid staking protocol leveraging dual-token structure from protocols like Frax and Lido to implement essentially the most battle-tested LST design to the Metis Decentralized Sequencer. Customers can stake METIS by way of Enki and obtain seMETIS, whereas the protocol makes use of ENKI for its governance.

About Metis

Metis is an EVM-Equal Layer-2 protocol centered on bridging the hole between Web2 and Web3. Metis gives customers with a decentralized and scalable easy-to-use community secured by Ethereum. Metis turned the primary Ethereum rollup to decentralize its sequencer with the launch of Decentralized Sequencer, which boosts community safety and gives extra probably revenue-earning alternatives for customers.

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ContactJamie KingsleyMetisj.kingsley@theprgenius.com

This text was initially revealed on Chainwire