Metis, a scalability solution based on rollups technology, shares the details of its first-ever incentivized staking program since the platform's mainnet rollout.
Metis starts DAC incentivized staking campaign: details
According to the official announcement shared by Metis' team, its new staking program, DAC staking, went live on Nov. 26, 2021. Metis DAC is an experiment designed to bring decentralized governance principles to Layer 2 solutions.
With this program, crypto enthusiasts will participate in the governance of Metis' Layer 2 network, Andromeda. To accelerate the adoption of Metis DAC, the administration of the network introduced a massive rewards campaign.
Within Metis DAC, users are able to stake their METIS tokens with an eye-watering APY rate of more than 29,000%. At the same time, with an increase of the number of participants, the APY rate may be reduced, as the Metis team added.
Metis highlights that participation in this program is of particular importance for decentralized businesses as it is aligned with the transition from Web2 to Web3.
Decentralized company launches to support Metis' offline events
To take part in this time-limited program, a user needs to hold at least 10 METIS tokens (roughly $850). Once the DAC mechanism is activated, the staking pool starts counting rewards and sending them to all participants.
Also, Metis announced the creation of Titans DAC, a first-ever community-driven decentralized autonomous company. Titans recently minted and released its inaugural NFT drop, dubbed "Launch Edition." Fifteen non-fungible tokens offer special opportunities for their holders: they go live on Andromeda to celebrate the launch of its DAC.
These tokens' secondary sales will fund new Metis offline events.
The DAC staking program will last for at least 56 days. After the first 56 days of its operations, Metis will unveil its roadmap for the next community events.