Metis' Sequencer Mining Revolutionizes Decentralized Blockchain Security and Participation

Metis announces the launch of Phase 2 of its Decentralized Sequencer upgrade, introducing Sequencer Mining. This feature allows users to enhance network incentives by locking their tokens through Liquid Staking (LST) providers. LST providers interact with the Sequencer, while users interact with the providers, receiving Liquid Staking Tokens for reuse or holding. Metis has partnered with Artemis Finance and Enki Protocol as the LST protocols for the Alpha Phase, with sequencer nodes benefiting from a 20% Mining Rewards Rate in the first year.

Metis' Sequencer Mining Revolutionizes Decentralized Sequencer, Ushering in Enhanced Network Security and Participation

Dubai, UAE, April 23rd, 2024 - Metis, the trailblazing Ethereum Layer-2 protocol, has unveiled Phase 2 of its Decentralized Sequencer upgrade, introducing the highly anticipated Sequencer Mining feature that empowers users to participate in securing the network while earning rewards.

The Genesis of Decentralized Sequencers

Last month's rollout of Phase 1 marked a pivotal moment in Metis' journey, solidifying its position as the first-ever rollup platform to feature a decentralized sequencer. This groundbreaking innovation laid the groundwork for Phase 2's enhancements, which focus on incentivizing participation and bolstering network security.

Sequencer Mining: Empowering Users, Enhancing Security

The introduction of Sequencer Mining in Phase 2 represents a significant milestone for Metis. This groundbreaking feature enables users to contribute to the network's security by locking their tokens through Liquid Staking (LST) providers.

Liquid Staking: Unlocking Flexibility and Rewards

LST providers seamlessly bridge the gap between users and the Sequencer, granting users the ability to interact with LST providers and receive Liquid Staking Tokens (LSTs). These LSTs offer immense flexibility, as they can be utilized in various DeFi applications or held as an investment vehicle.

Community Governance Drives Innovation

Metis' Community Ecosystem Governance (CEG) played a crucial role in selecting Artemis Finance and Enki Protocol as the two designated LST protocols for the Alpha Phase of Sequencer Mining. This decision reflects the community's commitment to fostering a vibrant ecosystem of decentralized applications.

Incentivizing Participation: A Revenue-Earning Opportunity

Sequencer nodes will reap the benefits of a 20% Mining Rewards Rate (MRR) during the first year, mirroring the compensation rate provided by smart contracts for block production.

Metis Liquid Staking Blitz (LSB): Accelerating Growth

Metis Liquid Staking Blitz (LSB), backed by the Metis Ecosystem Development Fund (EDF), will provide grants to promising projects that contribute to the growth and adoption of LST products on Metis. Over 220,000 METIS are earmarked for grants in 2024 alone, demonstrating Metis' commitment to catalyzing innovation within the LST ecosystem.

Strategic Partnerships: Ensuring Decentralization and Participation

Metis has forged strategic partnerships with reputable crypto institutions, aligning with its vision of achieving proper decentralization and maximizing participation rates for its Decentralized Sequencer.

Seamless Staking with Artemis and Enki

Users can seamlessly participate in Sequencer Mining through Artemis, which offers liquid staking specifically tailored for Metis' Decentralized Sequencer. Enki, another Metis-native LST protocol, fully launches on Mainnet soon, providing users with the opportunity to participate in its "Pre-Staking" program.

About Artemis Finance

Artemis Finance is a cutting-edge liquid staking protocol designed exclusively for Metis' Decentralized Sequencer. Users can stake METIS tokens on Artemis Finance and receive artMETIS, a liquid staking token that empowers them to actively participate in the network while maintaining the flexibility to engage in other DeFi activities.

About Enki Protocol

Enki Protocol, another innovative Metis-native LST protocol, leverages dual-token architecture to implement a battle-tested LST design on Metis' Decentralized Sequencer. Users can stake METIS via Enki and receive seMETIS, while the protocol utilizes ENKI for governance, ensuring a robust and decentralized ecosystem.

About Metis

Metis is an EVM-Equivalent Ethereum Layer-2 protocol that bridges the gap between Web2 and Web3. Metis empowers users with a decentralized, scalable, and user-friendly network secured by Ethereum. With the groundbreaking launch of the Decentralized Sequencer, Metis has become the first Ethereum rollup to decentralize this critical function, enhancing network security and unlocking new revenue-earning opportunities for users.

Contact

Jamie Kingsley

Metis

[email protected]

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