Tl;dr — Metis is providing $70,000 in incentives throughout the next month for MaiaDAO’s Uni V3. Any user that LPs in the METIS-USDC or ETH-USDC pools will start earning $METIS rewards.
Incentives for MaiaDAO’s UniV3 are now live, with $70,000 being split 67/33 between the ETH-USDC and METIS-USDC pools, respectively, throughout the next 30 days.
We at Metis are very excited to roll this campaign out, and optimist about the potential results, given concentrated liquidity pools make better usage of capital than traditional pools. Concentrated liquidity pools allow traders to swap with a minimal price impact, while LPs are able to generate enhanced returns on their provided capital.
Less than one million USD allocated to a concentrated liquidity pool, can enable the same liquidity as tens of millions of USD allocated to traditional Uni V2 pools.
Uni V3 is the prime example of the impact concentrated liquidity can have. Currently, it is the protocol that generates the most fees in crypto, with over $1.1M in tha last 24 hours, and a 7-day average of $769,278 thanks to concentrated liquidity pools. The reason why this system is labeled as capital efficient is because all the capital provided is being used. Therefore, all the capital provided is generating fees, which is not the case for Constant Product pools (Uni v2).
Users that choose to provide liquidity to the ETH-USDC and METIS-USDC pools on UniMaia, METIS incentives will start flowing immediately, enhancing the already existing yields/fees generated by LPs.
Click here to provide liquidity in UniMaia 🌿
While Metis is incentivizing Maia’s usage, Maia DAO is incentivizing security providing $300,500 in rewards for their security audit. The audit is taking place simultaneously as Maia’s Uni V3 Fork incentives.This collaboration highlights Metis’ commitment to prioritizing innovation while ensuring the highest level of security and integrity for its users and the wider DeFi community. UniMaia is the first step, providing concentrated liquidity pools. Then Hermes will enable concentrated liquidity pools + gauges.
At Metis, we are confident that the Maia DAO security audit for Hermes V2 will further bolster the safety measures already in place, reinforcing the platform’s resilience against potential threats and attacks. For more information, visit Code4rena for audit details.
Metis continues to bolster an ecosystem for all to thrive with keen focus on security and usage in order to support a healthy Web3 Economy. Through these incentivizations, liquidity providers and developers can reap the benefits of network improvements.
Click here to start hacking ⚡️
Maia DAO is a decentralized autonomous organization built on blockchain technology, designed to empower its community members, and bolstering an open and inclusive governance system. Maia DAO seeks to create a thriving ecosystem where people collectively contribute to the expansion and success of the DeFi with a focus on community collaboration and creativity. To guarantee the reliability of its operations and the safety of the assets of participants, regular security audits are conducted.
Hermes is a protocol within the Maia DAO ecosystem, designed to provide decentralized lending and borrowing services for digital assets, enabling users to leverage their cryptocurrency holdings to access liquidity or earn interest through lending. Hermes eliminates the need for intermediaries and facilitates peer-to-peer lending by employing smart contracts on the Ethereum blockchain. Hermes is also integrated with other protocols in the Maia DAO ecosystem, allowing for easy interoperability and a wider choice of services for users. Hermes aims to redefine the lending landscape within the cryptocurrency industry, empowering users with greater financial flexibility and opportunities.
