Metis will allocate $5 million for the development of DeFi ecosystem protocols

Metis_launches_DeFi_incentive_program worth $5 million
Metis_launches_DeFi_incentive_program worth $5 million

Metis announced the launch of The Metis Journey, a $5 million program aimed at increasing community activity in the project ecosystem. This was reported in a press release from the platform.

As part of the program, the project team transferred 100,000 METIS ($1.1 million at the time of publication) to the Aave V3 landing protocol, which operates one of the largest liquidity markets in the DeFi sector.

“The goal of the campaign is to accelerate the growth of the Metis ecosystem by distributing incentives to users and developers dapp. Its key task is to develop existing and deploy new DeFi protocols, starting with Aave V3. Similar programs have been launched in Polygon (L2 DeFi), Avalanche (Avalanche Rush) and OP Mainnet (OP Summer),” commented Metis CEO Tom Ngo.

Funds will also be received by:

  • automatic market maker Hummus;
  • cross-chain bridges Stargate and Synapse;
  • decentralized exchange Unimaia.

The Metis team emphasizes that the DeFi protocol incentive program will be the first of many initiatives aimed at quickly and sustainably expanding the project’s ecosystem and user base.

Metis is an L2 platform for scaling Ethereum and deploying smart contracts on the network of the same name.

Previously, ForkLog published a detailed review of Metis and hybrid rollup technology.

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