July in Metis

Metis
4 min readAug 6, 2023

Month after month, we keep getting closer to our vision of building an open and decentralized economy, a Web3 Economy.

Summer in the Metis ecosystem has been filled with excitement and progress. In July, the ecosystem saw relevant growth driven by significant enhancements and integrations.

Ecosystem builders appear to be working 24/7, and Wallet Addresses keep going up. Neither of these trends appear to be slowing down.

Let’s go over some of July’s highlights on Metis:

1. +400k Active Wallets 🚀🌑

After celebrating our 100,000th wallet on 2023, we’re already on track to hit 500,000 this year. In July, Metis broke the 400,000 wallet ceiling.

This is only possible thanks to all the teams, developers, and contributors, on the ecosystem.

wen 1m?

2. Hummus Devs Cooking Weighted Dishes👨‍🍳

DeFi on Metis just got a major boost: the deployment of Balancer’s proven variable pool dapp by Hummus Exchange.

This development transforms liquidity management, bringing together an ultra-low-slippage stableswap and liquidity-deepening pools for assets like ETH, BTC, and METIS. Users can now enjoy smoother and more efficient trades, making it even simpler to access and utilize different assets.

The Balancer fork not only benefits Hummus, but also elevates the entire Metis ecosystem by significantly improving volatile token liquidity. This enhancement positively impacts DEXs, lenders, aggregators, perpetuals, and bridges on Metis, opening up new possibilities for traders and liquidity providers alike.

Exciting times ahead!

Learn more about this deployment here 👇

https://hummusexchange.medium.com/hummus-brings-balancer-to-metis-3e7d4d49214

3. ZKM Econode’s Whitepaper Official Reveal

In July, MetisDAO Foundation’s newest EcoNode had its official reveal: ZKM.

Formerly known as Project M, ZKM introduces an advanced zero-knowledge proof solution for Hybrid Rollup architecture. Embracing a forward-thinking, open-source approach, ZKM addresses key challenges within the Ethereum ecosystem and offers innovative solutions.

ZKM is an open-source infrastructure protocol that enables Hybrid Rollup technology, assuring instant transactions and security maximization on the Ethereum ecosystem.

Unlike traditional ZK projects, ZKM doesn’t operate a network but rather serves as an open-source infrastructure layer providing faster, cheaper, and more secure experiences for blockchain users. The ultimate goal of ZKM is to connect billions of users to Ethereum, tackling challenges faced by Ethereum’s competitors and unlocking the full potential of blockchain technology.

Check out their Whitepaper to learn more about ZKM!

4. UniMaia Incentives Renewal

Following June’s incentive campaign’s success, MaiaDAO incentives are back were renewed for July.

Liquidity providers are finding the ETHUSDC and METISUSDC pools on UniMaia an enticing alternative during these crab markets. Given UniMaia’s CLAMM architecture, funds provided on its platform provides notably deeper liquidity/lower price impact than on Constant Product (UniV2) pools.

Don’t miss out, go check the UniMaia pools now 🔥

5. AAVE Supply Caps Raised Twice — TVL on the rise

Supply caps for ETH and METIS pools on Aave have been doubled twice this month already, facilitating a higher inflow of TVL into the platform and ecosystem, these two (ETH & METIS) being the platform’s favorite pools.

For some context, supply caps determine the maximum asset amount provided to a lending pool, ensuring security and safeguarding the platform and ecosystem’s health 💊.

Aave markets on Metis are offering users the opportunity to supply and borrow METIS, ETH, USDC, USDT, and DAI. Don’t be the one who misses out!

Check it out here.

Builder Mining Rewards

Every month, MetisDAO Foundation gives back 4000 METIS to ecosystem projects based on transactions generated. This is MetisDAO Foundation’s way to retroactively fund all and every project contributing to the network’s activity.

Top 5 Performing Projects in June

1. Layer Zero

2. Stargate

3. MaiaDAO / Hermes Protocol

4. Netswap

5. Hera Finance

Register Your Contract — Earn Builder Mining Rewards

If you’re looking for an ecosystem to launch your new project, search no more. Metis supports its ecosystem builders all the way down the road. Take advantage of our Builder Mining Rewards program, and leverage the benefits of delivering a good product.

Retroactive funding is key for the short and long term sustainability of Public Goods, such as the Metis Ecosystem. Learn more about Builder Mining Rewards: https://metisdao.medium.com/dapps-wanted-4c4938ee0c70

About Metis

Metis Andromeda is an EVM-Equivalent Ethereum Layer-2 focused on bridging the gap between Web2 and Web3. Metis provides users with a secure, decentralized, and scalable easy-to-use network. By combining a robust Layer 2 with on-chain credentials and Decentralized Autonomous Companies (DACs), Metis is building the perfect ecosystem to host open, decentralized and trustless collaboration, secured by Ethereum.

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