Vitalik Buterin's Mom's Blockchain Metis Kickstarts $5 Million DeFi Incentive Initiative

The team of Metis, a new-gen L2 scaling platform for Ethereum (ETH), announces a large-scale incentive program designed to reward users of Metis-based dApps for their contributions.

Metis launches massive Metis Journey incentive program

Metis Journey, a $5 million incentive program for dApps on Metis blockchain, kicks off today, Sept. 19, 2023. The program is organized by Metis blockchain and is set to attract new users to Metis' decentralized applications, an official statement by Metis representatives says.

Metis starts the initiative from blue-chip DeFi protocol Aave v3. It allocated 100,000 METIS tokens to reward the liquidity providers who inject all assets available to Aave users on Metis. That said, participants of MetisDAO (METIS) Ethereum (ETH), USD Coin (USDC), U.S. Dollar Tether (USDT) and Dai (DAI) liqiuidity pools will benefit from Metis Journey.

The team of Metis highlights the importance of this launch for the progress of its ecosystem of dApps and the entire Ethereum L2 ecosystem in terms of technology, economics and adoption:

For our dedicated Metis community, this represents a remarkable opportunity, as our ecosystem gears up for an exciting expansion phase. It signifies a pivotal milestone in the evolution of Metis, opening doors to an array of innovative developments. Aave shares our enthusiasm for showcasing the capabilities of Layer 2 technology and ushering more users into the Web3 space, adding depth and significance to this collaboration.

As U.Today covered in its review, Metis is among the most promising L2 solutions on Ethereum (ETH) regarding security, transactional capacity and resource efficiency.

New dApps and retroactive funding programs to come

After launching an initiative for Aave v3 users, Metis is going to run similar programs for other promising dApps, including the likes of Hummus, Stargate, Synapse and Unimaia.

Across all mentioned applications, the campaign will be focused on regular users who contribute liquidity, engage in trading and actively participate in the Metis ecosystem.

The team of Metis is going to launch more incentive campaigns to boost the growth of its community of decentralized applications (dApps) of various types.