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Summer in the Metis ecosystem is nothing but great vibes and outstanding innovation. June was marked by growth, further expanding the Metis ecosystem. We’ve seen considerable enhancements and strategic partnerships, leading up to an extreme increase in Metis Daily Active Users.
Judging by ecosystem DeFi analytics, it looks like the trend is not slowing down.
Let’s go over some of June’s highlights on Metis:
A first-of-its-kind concept was introduced by the Metis Foundation in the form of an upcoming econode: Project M (Now known as ZKM), an advanced zero-knowledge proof solution for [redacted] architecture.
Embracing a forward-thinking, open-source approach, Project M is honing in on Ethereum’s key challenges and presenting some smart solutions.
Through the use of ZK technology, it enables fast transactions with the highest level of security. No more zkEVM overhauls. Project M will offer a streamlined connection to Ethereum ecosystem where any Layer 1 blockchain can securely join the party.
The official white paper has not been released yet, but
To start June, $70,000 in incentives were allocated for MaiaDAO’s UniV3, boosting the METIS-USDC and ETH-USDC pools. This campaign is a step forward in bringing ample liquidity to the Metis ecosystem.
This iniciative also highlights the impact of concentrated liquidity. With less than $1 million of TVL in a CLAMM pool, we observed even better efficiency than on traditional Uni V2 pools with tens of millions of USD. Concentrated liquidity optimizes capital efficiency and enables traders to swap with minimal price impact, simultaneously bolstering returns for LPs.
The campaign has succesfully increased TVL and Volume on Maia Uni V3📈
Athena Finance has officially been deployed on Metis by the Vector team. It is initially building on top of Hummus Finance, and aims to democratize access to optimized returns, regardless of market conditions or individual DeFi expertise.
A mere 24-hours after going live, Athena had already locked an outstanding 5% of all HUM (Hummus governance token) circulating supply.
Historically, the complexity of DeFi often poses a barrier for many potential users. Athena provides access to top-notch DeFi pools with the smoothest User Interface (UI). Currently, it is offering some of the highest yields on stablecoins in Metis, which makes it a great alternative for users looking to earn high yields with no exposure to volatile assets.
Read more about Athena here.
PARSIQ has officially integrated the Tsunami API on Metis, enabling a robust data solution for builders. This integration enables developers and projects to instantly access real-time and historical data from the entire Metis blockchain.
With the Tsunami API, developers within the Metis ecosystem can utilize filtered and indexed APIs, facilitating quicker and more efficient retrieval of blockchain data. This integration empowers developers to build resilient applications and scale their projects effectively.
PARSIQ’s Tsunami API streamlines the complex process of standardizing blockchain data by offering a plug-and-play solution. This collaboration aligns with Metis’ vision of facilitating the transition from Web2 to Web3, providing developers with seamless access to essential data for their projects.
Read more about PARSIQ’s Tsunami API here.
Furucombo has deployed on Metis, simplifying and optimizing DeFi trading through its drag-and-drop interface.
Without any coding knowledge, users are able to create personalized strategies using Furucombo’s visual “cubes” system. Cubes allows users to construct complex DeFi transactions and bundle them into a single transaction. This enables seamless interactions with top DeFi protocols on Metis like Maia, Stargate and Aave.
Beyond its drag-and-drop capabilities, Furucombo offers features such as Investing, Funding, and Lending. This integration expands opportunities for Metis users to customize their DeFi strategies and monetize their usage.
Every month, Metis Foundation gives back 4000 METIS to ecosystem projects based on transactions generated. This is Metis Foundation’s way to retroactively fund all and every project contributing to the network’s activity.
Drastically increasing its active users on Metis, Stargate Finance has secured its place as the most utilized protocol within the Metis ecosystem.
Stargate brings a cutting-edge bridging experience to Metis. With a strong focus on stability and liquidity, Stargate Finance allows users to swap native Tether (USDT) seamlessly across Avalanche, BNB Chain, Ethereum Mainnet, and Metis Andromeda. Through its autonomous pool deployment and unified liquidity pools, Stargate Finance provides a hassle-free and secure environment for users to participate in asset swapping and liquidity provision.
Cementing its position as the yield powerhouse of Metis, MaiaDAO and Hermes continue to innovate and reshape the future of DeFi.
MaiaDAO serves as a trading hub, empowering users with optimized strategies and opportunities in the DeFi space. Recently, active users and volume for MaiaDAO’s Uni V3 has been skyrocketing, fueled by the METIS incentive campaign.
Additionally, Hermes Protocol plays acrucial role within MaiaDAO, introducing streamlined staking processes, simplified user interactions, and long-term token value protection through its upcoming HermesV2 update.
In June, $70,000 ofincentiveswere allocated for MaiaDAO’s UniV3 pools, attracting liquidity providers and resulting in a solid 2X TVL growth.
Netswap maintains its strong presence on Metis DeFi, providing users with cutting-edge features and opportunities for earning rewards and participating in upcoming IDOs.
As the first DEX of the Metis ecosystem, its commitment to continuous improvement and the introduction of new functionalities has made it a preferred choice among many traders and liquidity providers.
On June, Tethys was able to attract a large amount of new traders, leading to all time highs in Open Interest, Trading Volume, Users, Fees, and more.
With significant achievements, such as raising the Metis cap to $260,000 USD and surpassing $25 million in Total Volume, Tethys proves its dedication to continual growth and its commitment to providing reliable DeFi services.
Hummus maintains its position as a trailblazing protocol within the Metis ecosystem, providing users with a top-notch UI and UX.
The platform’s unique single-sided stable pools enable near-zero slippage swaps between stablecoins, establishing Hummus as a preferred choice for many traders and investors.
Hummus remains a preferred DeFi venue for both: Users looking to swap tokens, and liquidity providers looking to earn a safe yield.
Hera came very close to making the Top 5 due to their prolific routing mechanisms, allowing users to find the best swap rates at all times.
With the help of advanced algorithms, this protocol locates relevant swap data, optimizing the trading experience for all Metis users.
Its user-centric interface and expertise in handling complex swaps, plus their ability to establish solid partnerships, have elevated Hera Finance’s position and made it an essential dApp on the DeFi ecosystem.
If you’re looking for an ecosystem to launch your new project, search no more. Metis supports its ecosystem builders all the way down the road. Take advantage of our Builder Mining Rewards program, and leverage the benefits of delivering a good product.
