Metis Unveils $5M DeFi Incentive Program ‘Metis Journey’

Metis Unveils $5M DeFi Incentive Program ‘Metis Journey:’ Details
Table of Contents

Metis, one of the leading Layer 2 scaling platforms for Ethereum, has just introduced an incentive program called “Metis Journey.” This initiative, worth $5 million, is designed to reward users for actively engaging with Metis-based decentralized applications (dApps).

The program was launched on September 19, 2023, and it aims to draw new users into the Metis blockchain ecosystem.

As an Ethereum Layer-2 scaling solution, Metis is tackling the blockchain trilemma of decentralization, security, and scalability. It achieves high throughput and low fees while preserving Ethereum’s core values by leveraging Optimistic Rollup and Zero-Knowledge Rollup technologies.

Metis Journey is Starting with Aave v3

The kickstart for this Metis Journey program begins with the blue-chip DeFi protocol, Aave v3. Metis has allocated 100,000 METIS tokens, currently worth over a million dollars, to incentivize liquidity providers who contribute assets to Aave users on the Metis network.

This means that participants in MetisDAO’s Ethereum (ETH), USD Coin (USDC), U.S. Dollar Tether (USDT), and Dai (DAI) liquidity pools will reap the rewards of the Metis Journey.

Metis Journey is Starting with Aave v3

Moreover, the Metis team emphasizes the significance of this launch, not only for their dApp ecosystem but also for the broader Ethereum Layer 2 ecosystem. It signals an opportunity for the Metis community and paves the way for innovative developments within the ecosystem. It also goes in line with Aave’s aim to enhance the Web3 space.

“For our dedicated Metis community, this represents a remarkable opportunity, as our ecosystem gears up for an exciting expansion phase,” the company says in a statement. “It signifies a pivotal milestone in the evolution of Metis, opening doors to an array of innovative developments.”

Meanwhile, the project isn’t stopping with Aave v3; they also plan to extend similar incentive programs to other dApps such as Hummus, Stargate, Synapse, and Unimaia.

The primary focus of these campaigns will be on regular users who actively contribute liquidity, engage in trading, and participate in the Metis ecosystem.

MetisDAO Token Surged Over 7%

In tandem with this announcement, the native coin of the ecosystem, MetisDAO, has experienced a surge of 7.27% in the last 24 hours. As of the time of writing this line, MetisDAO is changing hands at $11.94 with a 24-hour trading volume of $3,406,929, securing its place at #347 on CoinMarketCap.


Follow us on Social Networks

Crypto Tutorials

Crypto Reviews