Metis Launches Phase 2 of Decentralized Sequencer, Enabling Sequencer Mining and Incentivizing Network Participation

The much-anticipated Phase 2 of the Metis Decentralized Sequencer upgrade introduces groundbreaking features, including Sequencer Mining, where sequencer nodes earn METIS tokens for processing transactions and generating blocks. This phase also brings multiple transactions within a single block, transaction pools, and liquid staking through LST providers such as Artemis Finance and Enki Protocol, enabling users to stake METIS tokens and participate in the network's growth.

Metis Unveils Phase 2 of Decentralized Sequencer, Introducing Sequencer Mining and Incentivizing Network Participation

Toronto, Ontario, April 23, 2024 - Metis, a pioneering Ethereum Layer-2 protocol, has announced the launch of Phase 2 of its Decentralized Sequencer upgrade, marking a significant milestone in the evolution of the blockchain industry. This upgrade introduces a suite of innovative features designed to enhance network decentralization, expand revenue opportunities for users, and further bridge the gap between Web2 and Web3.

Sequencer Mining and Liquid Staking: A New Era of Revenue Generation

The centerpiece of Phase 2 is the introduction of Sequencer Mining, a revolutionary mechanism that empowers sequencer nodes to earn METIS tokens for their role in securing the network. These nodes, operated by diverse entities worldwide, are responsible for ordering and batching transactions, ensuring fair and efficient block sequencing.

To participate in Sequencer Mining, users can delegate their METIS tokens to Liquid Staking Providers (LSTs) such as Artemis Finance and Enki Protocol. These providers will operate sequencer nodes on behalf of their delegators, enabling them to earn a portion of the revenue generated by block processing.

To support the growth and adoption of LSTs, Metis has established the Metis Liquid Staking Blitz (LSB), a grant program providing funding to projects developing LST-focused products and initiatives. This program will allocate over 220,000 METIS in grants during 2024 to accelerate the development of the LST ecosystem on Metis.

Enhanced Network Security and User Opportunities

Phase 2 of the Decentralized Sequencer also introduces several other key features that enhance network security and expand revenue opportunities for users:

• Multiple Transactions per Block: Optimizes block space utilization by allowing multiple transactions to be processed within a single block, increasing throughput and reducing fees.
• Transaction Pools: Introduces a mechanism for aggregating and prioritizing transactions, reducing latency and offering users greater flexibility in transaction timing.

Strategic Partnerships to Foster Decentralization and Participation

Metis has forged strategic partnerships with reputable crypto institutions to accelerate the adoption and decentralization of its Decentralized Sequencer. These partnerships will contribute to:

• Increasing the number of sequencer nodes operating on the network, reducing the risk of centralization.
• Attracting a diverse pool of participants, ensuring a wide distribution of METIS tokens and fostering a vibrant community.

About Metis

Metis is an EVM-Equivalent Ethereum Layer-2 protocol that aims to provide users with a decentralized, scalable, and easy-to-use network secured by Ethereum. With the launch of its Decentralized Sequencer, Metis has become the first Ethereum rollup to fully decentralize its sequencing process, setting a new standard for network security and revenue generation.

Contact:

Colin Landers
colin@energentmedia.net

SOURCE: Metis