MetisDAO has experienced a substantial surge in its ecosystem, marked by strategic moves, particularly the introduction of a $360 million incentive program. The Ecosystem Development Fund (EDF), recently disclosed by the MetisDAO Foundation, amounting to 4.6 million METIS (which is equivalent to over $360 million), stands out as a pivotal milestone for the Metis network.
Of course, this fund is crafted to stimulate increased user engagement and foster various projects within the Metis ecosystem.
Introduction of EDF: Initiated on December 18, 2023, the EDF is set to be distributed following the release of the Metis Decentralized Sequencer in Q1 2024. Metis has ambitious plans for Q1 2024, aspiring to be the pioneer Optimistic Rollup platform to decentralize its sequencer through the launch of the Metis Decentralized Sequencer. As expected, this strategic move aims to enhance security, facilitate true community ownership via sequencer mining, and provide lower costs, the highest level of Ethereum security, and improved scalability.
Additionally, the Metis EDF serves a dual purpose, not only fueling growth and user activity within the Metis ecosystem. Also expediting the adoption of its expanding range of decentralized applications.
Market Reaction To $METIS Price Movement
The response from the market to these developments has been noteworthy, with the $METIS price witnessing a remarkable surge of over 350% in just two weeks.
Over the past 7 days, it experienced a 35% increase, and in the last 24 hours, a notable uptick of 17%. Over the past 30 days, there has been an impressive surge from $21.8 to an astonishing $95.19, concluding 2023 with the third-highest Total Value Locked (TVL) among Ethereum Layer 2 solutions.
Closing 2023 with the 3rd highest TVL among #Ethereum Layer 2s, and this is just the beginning💫
Source: @l2beat
— Metis🌿 (@MetisL2) December 31, 2023
To conclude, MetisDAO’s strategic maneuvers, combined with the surge in the value of its native token and TVL ranking, position the ecosystem for continued growth and influence in the evolving landscape of decentralized finance.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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