{"id":397377,"date":"2022-01-21T23:30:00","date_gmt":"2022-01-21T20:30:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/metisdao-tvl-surges-by-99800-as-the-layer-2-race-heats-up\/"},"modified":"2022-01-21T23:30:00","modified_gmt":"2022-01-21T20:30:00","slug":"metisdao-tvl-surges-by-99800-as-the-layer-2-race-heats-up","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/metisdao-tvl-surges-by-99800-as-the-layer-2-race-heats-up\/","title":{"rendered":"# MetisDAO TVL surges by 99,800% as the layer-2 race heats up"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a40c9b4bc4e1\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a40c9b4bc4e1\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/metisdao-tvl-surges-by-99800-as-the-layer-2-race-heats-up\/#Multiple_DeFi_protocols_launch_on_Metis\" >Multiple DeFi protocols launch on Metis<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/metisdao-tvl-surges-by-99800-as-the-layer-2-race-heats-up\/#Cross-chain_bridge_support\" >Cross-chain bridge support<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/metisdao-tvl-surges-by-99800-as-the-layer-2-race-heats-up\/#Metis_goes_cross-chain\" >Metis goes cross-chain<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># MetisDAO TVL surges by 99,800% as the layer-2 race heats up <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-128018ef>Attracting liquidity has become a de facto arms race in the growing decentralized finance (DeFi) landscape. Projects constantly battle to attract investors funds by offering enticing yields for crypto holders willing to take a risk and lock up their assets and protocols use this funds to build out their products and attract attention from larger investors.\u00a0<\/p>\n<p>One protocol that has been gaining traction in the total value locked (TVL) race is MetisDAO (METIS), a layer-two rollup platform designed to fully support the <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>lication and business migration from Web2 to Web3.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-01\/ee233a50-f6bf-4dac-b8d6-df7d48fe6a0b.jpg\"><figcaption style=\"text-align: center;\"><em>Top 10 TVL gainers over the past month. Source: CCK Ventures<\/em><\/figcaption><\/figure>\n<p>Alongside the growth in the TVL on its protocol, the METIS token has also received a boost of momentum with data from Cointelegraph Markets Pro and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.coingecko.com\/en\/coins\/metis-token\">CoinGecko<\/a> showing that the price of METIS climbed from a low of $49.83 on Dec. 14 to a new all-time high at $323.54 on Jan. 16. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-01\/84d432de-d918-4ec6-ade2-f947e424e491.png\" alt=\"\" title=\"\"><figcaption style=\"text-align: center;\"><em>METIS\/USD 3-hour chart. Source: TradingView<\/em><\/figcaption><\/figure>\n<p>Three reasons for the growing TVL on the Metis protocol include the launch of multiple DeFi protocols on the network, added support for METIS-based trading pairs on cross-chain protocols and the network\u2019s ability to offer Etherum users lower transaction costs and faster processing times. <\/p>\n<h2><span class=\"ez-toc-section\" id=\"Multiple_DeFi_protocols_launch_on_Metis\"><\/span>Multiple DeFi protocols launch on Metis<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The largest boost in value on Metis comes from the launch of several new DeFi protocols that are exclusively on the Metis network. These include NetSwap (NETT), Agora (AGORA) and Tethys Finance (TETHYS). <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-01\/40f6ea91-e219-4acc-bd19-a9287f929083.png\"><figcaption style=\"text-align: center;\"><em>Top 3 protocols on METIS by total value locked. Source: Defi Llama<\/em><\/figcaption><\/figure>\n<p>Together, these three protocols account for $325.24 million out of the $353.36 million in value currently locked on Metis. <\/p>\n<p>The partnership between METIS and Agora was only revealed on Jan. 19, meaning that it only took two days for the current TVL to be reached. This suggests that the overall TVL on the Metis chain will soon be headed higher. <\/p>\n<p>NetSwap (NETT) is the longest-running protocol on METIS, having conducted its fair launch on Dec. 6, 2021, it currently <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/MetisNews247\/status\/1484029097244491776\">offers<\/a> APRs for liquidity providers (LP) that range from 56% for WETH\/m.USDT to 1,034% for BNB\/NETT LPs. NetSwap <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/netswapofficial\/status\/1483825260927787008\">reached<\/a> a total trading volume of $1 billion on Jan. 19 which represents $2.5 million worth of transaction fees that have been rewarded to LP providers. <\/p>\n<h2><span class=\"ez-toc-section\" id=\"Cross-chain_bridge_support\"><\/span>Cross-chain bridge support<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>A second reason for the growing value hosted on the Metis network includes the added support from multiple cross-chain bridges that provide wider exposure to the Metis ecosystem. <\/p>\n<p>Beefy Finance is one of the larger protocols that has added support for Metis-based tokens including METIS, NETT, and Metis-based versions of Tether (USDT), USD Coin (USDC) and Wrapped Ethereum (WETH). <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Welcome <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/MetisDAO?ref_src=twsrc%5Etfw\">@MetisDAO<\/a> to the Beefy family!<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/A5bk5ZNAaE\">https:\/\/t.co\/A5bk5ZNAaE<\/a> is building a hub for the Web3 economy: Layer 2 <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw\">#Ethereum<\/a> scaling with fast and cheap transactions.<\/p>\n<p> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Metis?src=hash&amp;ref_src=twsrc%5Etfw\">#Metis<\/a> is live on Beefy with 11 <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/netswapofficial?ref_src=twsrc%5Etfw\">@netswapofficial<\/a> vaults.<\/p>\n<p>Check Metis Vaults at  <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/pJcEr4tgoG\">https:\/\/t.co\/pJcEr4tgoG<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/MEu61vCYB1\">pic.twitter.com\/MEu61vCYB1<\/a><\/p>\n<p>\u2014 Beefy Finance (@beefyfinance) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/beefyfinance\/status\/1482848430015795204?ref_src=twsrc%5Etfw\">January 16, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Since announcing the partnership on Jan. 16, the TVL from the Metis network on Beefy Finance has reached $24.56 million. <\/p>\n<p>Other cross-chain platforms that have added support for Metis include Pickle Finance, Poly Network, the Celer Network\u2019s cBridge, BoringDAO, Relay Chain and Multichain. <\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Blockchain assessment: How to assess different chains?<\/em><\/strong><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Metis_goes_cross-chain\"><\/span>Metis goes cross-chain<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The third factor attracting value to the Metis ecosystem is the low-fee, high throughput capabilities of the network that help Ethereum users save time and money. <\/p>\n<p>The overall goal of Metis is to offer transactions that settle in less than a second and cost less than $1 in fees. According to the project\u2019s whitepaper, this will be achieved by using the theoretically infinite scalability of the Metis Andromeda network.<\/p>\n<p>These capabilities have led to the rapid growth of the Metis ecosystem as a whole, which now <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Master_Metis\/status\/1481543553834962948\">supports<\/a> multiple DeFi protocols and NFT projects.<\/p>\n<p>Most recently, Metis has established a partnership with Curate, a cross-chain nonfungible token (NFT) marketplace that will enable gasless transactions. <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">New partner: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/curateproject?ref_src=twsrc%5Etfw\">@curateproject<\/a>! Curate is a cross-chain NFT marketplace allowing anyone to mint &amp; buy\/sell NFTs completely GASLESS(!), incl import\/export of ETH\/SOL\/ALGO\/BSC NFTs! <\/p>\n<p>Curate will deploy on <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24METIS&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$METIS<\/a> Andromeda network end of Jan. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/sbX71ooYGc\">https:\/\/t.co\/sbX71ooYGc<\/a> to get started! <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/ONGHiCJM6M\">pic.twitter.com\/ONGHiCJM6M<\/a><\/p>\n<p>\u2014 Metis (@MetisDAO) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/MetisDAO\/status\/1481642350086524931?ref_src=twsrc%5Etfw\">January 13, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p class=\"post-content__disclaimer\">The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.\n<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/p>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/metisdao-tvl-surges-by-99-800-as-the-layer-2-race-heats-up\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# MetisDAO TVL surges by 99,800% as the layer-2 race heats up &#8221; Attracting liquidity has become a de facto arms race in the growing decentralized finance (DeFi) landscape. Projects constantly battle to attract investors funds by offering enticing yields for crypto holders willing to take a risk and lock up their assets and protocols&#8230;<\/p>\n","protected":false},"author":1,"featured_media":397378,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDEvZTI5ZmFkOGYtOGU2YS00NzhiLThjZDktMzUyNjc2MjhkMWQ1LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74867,88119,74863,74877,99002,74868,74891,95119,95118,73785],"class_list":["post-397377","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-altcoin","tag-altcoin-watch","tag-cryptocurrencies","tag-decentralized-exchange","tag-decentralized-marketplace","tag-defi","tag-ethereum","tag-layer2","tag-nft","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/397377","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=397377"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/397377\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/397378"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=397377"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=397377"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=397377"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}