Metis token stands out in the Ethereum Layer2 track, surging nearly 50% today, and its Total Value Locked (TVL) has increased by 403.95% in the past seven days, reaching $550 million.
Metis experienced a significant surge of over 50% today, reaching a peak of $83.5 before settling at $72.06 at the time of writing. Over the past 14 days, Metis token has seen a growth of 177% (308.6% since the beginning of the year). This surge may be attributed to an important announcement made by Metis on December 18th.
Metis announced an investment of 4.6 million Metis tokens, worth over $300 million, into its ecosystem development fund. The funds will be used to support dApps, sorter mining, and other product development projects, with the expected launch in the first quarter of 2024.
According to L2BEAT data, the total value locked (TVL) in Ethereum Layer2 has reached $18.24 billion, increasing by 13.23% in the past seven days. Among the top five protocols in terms of TVL, Metis has shown the most significant growth, with a 7-day increase of 403.95% and a current TVL of $550 million, showcasing the ecosystem’s activity. It is worth mentioning that Metis’ ecosystem TVL started to significantly increase on December 20th, almost coinciding with the announcement of the ecosystem fund. The ranking of TVL growth from highest to lowest is as follows:
– OP Mainnet ($5.73 billion, 7-day increase of 20%)
– zkSync Era ($572 million, 7-day increase of 5.67%)
– Arbitrum One ($8.59 billion, 7-day increase of 4.23%)
– Base ($741 million, 7-day increase of 3.73%)
According to DeFiLlama data, the top three protocols in terms of Metis ecosystem TVL are AAVE V3 (launched in May this year), Maia DAO, and NetSwap. NetSwap, being the first DEX in the Metis ecosystem, has shown significant growth with its platform token NETT currently priced at $0.46, with a 24-hour increase of 74.5% and a 7-day increase of 285.1%.
Metis is an Ethereum Layer2 network developed based on Optimistic Rollup technology. It was co-founded by Elena Sinelnikova, Kevin Liu, and Yuan Su in 2018 and went live on the mainnet on November 19th, 2021. According to Rootdata, Metis completed a $1 million seed round funding in March 2021, followed by a $3 million Series A funding.
Metis aims to become the first Optimistic Rollup to achieve decentralized sorters by early 2024. Its proposed solution is the Proof-of-Stake (PoS) “Sorter Pool” scheme, consisting of an administrator, sorter pool, and PoS-based consensus layer, which addresses the security risks and centralization issues faced by traditional Rollup networks.
Related reports:
– Deepcoin Exchange Lists MetisDao (METIS)
– The Era of Blockchain Rollup: The Upcoming Surge in Shared Sorters
– The Importance of “Forced Withdrawal” and “Escape Function” on Layer2