Recently, the Layer 2 project Metis, which was born in the previous cycle, has continued to gain popularity in the ecosystem, attracting market attention.

Metis is an Ethereum Layer 2 scaling solution based on Optimistic Rollup. It is a Layer 2 scaling and general infrastructure project founded by Elena Sinelnikova, Kevin Liu, and Yuan Su in 2018. Metis has completed a total of $1 million in angel and seed funding, as well as $3 million in Series A funding.

Elena Sinelnikova is the founder of Crypto Chicks, a non-profit organization in the blockchain industry. The organization is dedicated to providing educational opportunities for women in blockchain and helping them enter the field. Many people believe that Metis, a project associated with Crypto Chicks, is supported by Vitalik Buterin's mother, Natalia Ameline, who is also a co-founder of Crypto Chicks.

Today, according to CoinGecko data, as of the time of writing, the native token METIS of Metis has broken through $70, reaching $76, with a 7-day increase of 191.3%; according to L2BEAT data, the total locked position (TVL) of Metis has risen to $540 million, with a 7-day increase of 399%.

Previously, the rise in Optimism token price was seen as a harbinger of the gradual recovery and warming up of the Layer 2 sector. Metis followed suit with a surge in price, which the community generally attributed to its ecosystem support fund.

On December 18th, MetisDAO development organization MetisDAO Foundation announced the creation of a $100 million fund to accelerate the growth of its ecosystem. The fund is called the Metis Ecosystem Development Fund and will allocate 4.6 million METIS tokens for "sequencer mining, traceable funds, deployment of new projects, and other efforts." At the current token price, the fund is worth $322 million.

In addition, according to an official blog post, Metis is expected to become the first decentralized sorter Optimistic Rollup early next year, and the distribution time of the Metis ecosystem development fund will be one week after the launch of the Metis decentralized sorter. Jose Fabrega, Metis' marketing director, said in an interview that the initial incentive for the sequencing pool came from the Metis ecosystem development fund.

Related reading: "Metis Research Report: The First Decentralized Sorter of Layer2".

Introduction to Metis' technological innovation has received a lot of attention since its launch. Recently, with the recovery of the entire cryptocurrency market, as well as the meme craze on various public chains, and the support of the MetisDAO Foundation, Metis is gaining popularity. Defilama has included 44 protocols in the Metis ecosystem, some of which are multi-chain deployment projects, including AAVE, Stargate, Synapse, Beefy, Sushiswap, etc.

With the launch of the decentralized sorter and the incentive of the ecological fund, the new projects in the Metis ecosystem are still worth looking forward to in the future. BlockBeats has compiled a list of noteworthy projects in its ecosystem for readers to reference.

DeFi

Hermes

Hermes is a DEX built on Metis, and is a Solidly forked version of Metis. Hermes is positioned as a high capital efficiency AMM that can provide users with low cost, near-zero slippage trading. Its V2 version has added significant upgrades such as full-chain extension, unified liquidity, decentralized liquidity management, and a new Gauge system.

According to CoinGecko data, as of the time of writing, the native token HERMES is currently priced at $0.09, with a seven-day increase of 221.7%. According to DefiLlama data, Hermes' TVL is currently $9.4 million.

Netswap

NetSwap is the first DEX in the Metis ecosystem, allowing for swap transactions on the Metis network. In addition to integrating the basic functions of current DEXs on the market, NetSwap also has features such as liquidity mining, staking, and Launchpad.

According to CoinGecko data, as of writing, the price of its native token NETT is $0.57, with a seven-day increase of 387.0%.

Hummus

The Hummus Protocol is a unilateral AMM built on Metis, which allows users to swap stablecoins with minimal loss. Its native token is HUM. Users can stake stablecoins to earn HUM and use the staked HUM rewards to increase the yield of staked stablecoins.

According to CoinGecko data, as of writing, the price of HUM is 0.035 USD, with a 7-day increase of 268.4%.

meme coin

The meme craze sparked by public chains such as Solana and Avalanche has become the best reflection of the current market heat. The background of the Metis project mentioned earlier has also brought native meme genes to meme coin projects on this chain.

VMUM

VMUM is a meme coin that goes by the name "Vitalik's mother". It was deployed on December 19th. According to DEX SCREENER data, as of the time of writing, the current price of VMUM is 0.00007512 USD, with a 24-hour increase of 508%.

BARSIK

The founder's pet has gained a lot of attention in the meme craze, and Barsik is the mother of Vitalik's pet cat. According to DEX SCREENER data, as of the time of writing, BARSIK is priced at $0.002994, with a 24-hour increase of 292%.

Meme coin is still a high-risk investment target, and readers should treat it with caution. More Metis ecosystem projects can be viewed on this page.

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