Dear Metis Community,
As you know, almost all the economic activities of Metis are happening on the Metis Andromeda network, which is the Layer2 sitting on top of Ethereum. So in order to properly incentivize ecosystem projects and community, the Metis tokens originally locked on Ethereum(Layer1) for Community Development and Airdrops will be bridged to Metis Andromeda(Layer2) and locked in Metis Safe.
Even though there will be no tokens added into circulation, CoinMarketCap and Coingecko will show a higher Circulating Supply of Metis tokens in Ethereum Mainnet, given they break down METIS Mainnet supply as follows:
- Total Mainnet Supply (5,410,000)
- Airdrop Funds (- 405,625)
- Locked token for private investors (- 1,226,460)
- Community Development Funds (- 347,750)
- Liqudity Funds (- 2,075)
*Quantities with a negative sign are locked funds, meaning that they are part of Metis Total Supply, but they are not part of Metis Circulating Supply.
Since these tokens are being unlocked, and locked in a new vault, the negative numbers will go to 0 as the current Mainnet locks are emptied out.
That’s why, even though there will be no change in the Metis Mainnet circulating Supply, the…
