Metis Announces $100 Million Ecosystem Development Fund
The Metis Foundation has recently announced a $100 million ecosystem development fund.
Metis Announces $100 Million Ecosystem Development Fund
The Ecosystem Development Fund (EDF) by Metis will consist of 4.6 million METIS tokens and is intended to incentivize product development and internal activities within the Metis Layer-2 solution.
The development fund is scheduled to begin allocation in Q1 2024, following the rollout of the Sequencer network decentralization process on Metis.
Metis EDF: A new chapter for Metis.
— Metis🌿 (@MetisL2) December 18, 2023
Metis Ecosystem Development Fund (EDF) is a 4,600,000 METIS on-chain fund that will be dedicated to accelerating development and adoption on the Metis ecosystem.
Read more here: https://t.co/IDrFfnqmAG
Integrate Data Availability back into the Ethereum mainnet, alongside integrating a roadmap for decentralizing its Layer-2 Sequencers.
The primary allocation focus of the EDF will include Sequencer Mining (where METIS tokens are staked to support block creation), development teams for DApps, Liquidity Mining activities, and Smart Contract technical audits.
Significantly, a larger proportion of the allocation, approximately 65%, will be dedicated to verification units. Meanwhile, ecosystem development efforts will span across various product areas such as RWA, NFTs, and Cross-chain interoperability.
