MetisDAO, a rising star in the cryptocurrency realm, has recently showcased outstanding performance, garnering attention and accolades from the community.
The current trading value of $METIS stands at $72.27, reflecting a remarkable surge of 36% over the last 24 hours and an impressive gain of 170% in the past 7 days, propelling it to new heights. As of now, it holds the #157 rank with a substantial market cap of $330.56 million.
Metis Platform Hits New TVL
Insights from L2Beat highlight a substantial 300% increase in the Total Value Locked (TVL) on the Metis platform, reaching approximately $400 million. This surge follows the introduction of the MetisEDF (Metis Entrepreneurial Decentralized Finance) and a notably active week within the Metis ecosystem.
After the creation of the #MetisEDF, and a very active week for the ecosystem, TVL on Metis is up 300% and is currently standing at $400M.
Data: @l2beat pic.twitter.com/ZgkYuxaU5I
— Metis🌿 (@MetisL2) December 25, 2023
The MetisEDF is poised to revolutionize the landscape for Web3 builders, offering potential funding avenues across various sectors. These include Decentralized Finance (DeFi), Real World Assets (RWAs), SocialFi, Non-Fungible Tokens (NFTs), Cross-Chain Technology, Smart Contract Development, Blockchain Security, Decentralized Identity and Privacy Solutions, Blockchain Gaming, Metaverse Applications, infrastructure, and Prediction Markets.
Layer 2 Solutions’ Significant ProblemsÂ
In a recent announcement, the Metis team disclosed plans to address a significant challenge faced by Layer 2 solutions – the single-point-of-failure. The upcoming enhancements will ensure the elimination of this vulnerability, introduce sequencer rotation for 24/7 liveness, and facilitate revenue sharing through sequencer mining.
Community Testing will be the 1st step towards sequencer decentralization. Soon, #Metis will:
• Eliminate the single-point-of-failure that all L2s are currently subject to
• Enable 24/7 liveness by introducing sequencer rotation
• Share revenue through sequencer mining— Metis🌿 (@MetisL2) December 26, 2023
MetisDAO’s stellar performance and innovative developments underscore its growing influence in the dynamic cryptocurrency landscape. As it continues to advance with strategic initiatives like MetisEDF, the platform remains at the forefront of fostering growth and innovation within the broader blockchain ecosystem.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any projects.
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