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Metis L2 Launches $5 Million DeFi Incentive Program, Spearheaded by Aave

Ethereum layer-2, Metis, has announced a $5 million incentive program, aimed at boosting and expanding the decentralized finance ecosystem on the Metis Network.

In a blog post on September 19, Metis, a scalability focused Ethereum L2 using a hybrid version of Optimistic and Zero-Knowledge technology, announced the launch of a $5 million ‘DeFi incentive program’, designed to grow and improve Metis’ existing decentralized finance ecosystem.

Source: Metis’ Medium page

The launch of Metis’ $5 million initiative is accompanied by the further announcement that blue-chip DeFi protocol, Aave, will be the first recipient of a METIS token allocation - In particular, 100,000 METIS tokens that “will be allocated towards incentivizing liquidity pools for all assets available for Aave users on Metis: ETH, METIS, USDC, USDT, and DAI.”

“The strategic program is designed to attract a larger user base to the Metis platform through Aave’s involvement”, reads the blog post.

According to the announcement, Aave has already pursued similar such initiatives with leading ecosystems such as Polygon, Avalanche, and Optimism. Metis shared particular excitement about the potential knock-on effect of Aave’s involvement with regards to other Metis-projects such as Hummus, and Stargate.

More to come from Metis…?

Metis’ blog announcement concludes by stating that this incentive program “marks the beginning of a series of strategic moves that Metis has planned for the upcoming weeks and months, aimed at catalyzing exponential growth within our ecosystem and user community”, which seems to hint at further announcements on the horizon.

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