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Small-cap altcoins have registered a major rally during the last quarter of 2023 and MetisDAO (METIS) is one among them. The METIS price is on a pretty strong take gaining 350% just over the last 15 days. This massive price rally comes as MetisDAO hints at promising updates in the coming year of 2024.
About MetisDAO
Metis, among a group of layer-2 scaling protocols, empowers users to conduct faster and more cost-effective transactions on the Ethereum blockchain while fostering its own ecosystem projects and tools. In a recent development, the MetisDAO Foundation, the entity overseeing Metis, introduced the Ecosystem Development Fund (EDF). The EDF, totaling 4.6 million METIS, is designed to kickstart development, enhance liquidity, drive activity, and promote adoption within the Metis ecosystem.
MetisDAO said that in 2023, it emerged as the DeFi platform with the third-largest TVL among all the other Ethereum Layer-2 competitors, thereby making a significant milestone.
Closing 2023 with the 3rd highest TVL among #Ethereum Layer 2s, and this is just the beginning💫
Source: @l2beat
— Metis🌿 (@MetisDAO) December 31, 2023
METIS Gearing Up For A Strong 2024
MetisDAO recently announced that they have great things planned ahead this year in 2024. With analysts predicting a strong altcoin season, this could just be the beginning of the mega bull run for METIS.
Great things are coming to the #Metis ecosystem🌿
— Metis🌿 (@MetisDAO) January 2, 2024
The recent introduction of the Ecosystem Development Fund (EDF) by the MetisDAO Foundation, valued at 4.6 million METIS or over $360 million, stands as a significant milestone for the Metis network. This dedicated fund aims to drive development and adoption within the Metis ecosystem, creating a conducive environment for increased user activity and project engagements.
Notably, key projects within the Metis ecosystem have demonstrated substantial growth. Tokens such as MAIA from Maia and HERMES from Hermes have experienced impressive increases of 25% and 70%, respectively, underscoring the vibrancy and robust health of the Metis ecosystem.
Liquidity pools within the ecosystem, particularly for HERMES and METIS, now offer annualized fee rewards of up to 200%. For those seeking more adventurous trading opportunities, specific pairs present potential rewards reaching as high as 350%, attracting significant user interest and participation and contributing to the network’s continued expansion.
Tethys, the decentralized perpetual trading protocol within the Metis ecosystem, has emerged as another success story. The protocol has witnessed a remarkable surge in trading volumes, surpassing $18 million in the last 24 hours. Concurrently, the value of TETHYS tokens has experienced a 20% increase, indicative of a thriving and expanding trading environment.
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