In Ethereum scalability solutions, Layer2 chains such as Optimism and Arbitrum face two main problems: fraud/validity proofs and decentralized sequencers. In the actual development process, Optimism or Arbitrum and other Layer2 chains still focus on efforts in fraud proofs and validity proofs, while using a centralized model for sequencers, which can easily lead to single points of failure and create centralization risks.
Metis is the first Layer2 Rollup with a decentralized sequencer. In simple terms, a decentralized sequencer collects, sorts, and processes transactions on the chain, and the block producer uploads the results to the Ethereum mainnet, leaving a "trace" on L1. Validators are responsible for monitoring the correctness of transaction results. A decentralized sequencer can effectively strengthen the strength of fraud proofs, achieve true decentralization, and share the ecological growth dividends with the community.
On March 12th, Binance announced the launch of METIS, and the Metis ecosystem quickly gained more attention. As a DeFi infrastructure, liquidity staking protocols are crucial in the ecosystem of every public chain!
METIS Liquidity Staking Infrastructure - Artemis Finance
Artemis Finance is a liquidity staking protocol built on Metis and incubated by NGAD. Users can stake METIS tokens in Artemis Finance to receive staking tokens called artMETIS in proportion, as well as governance tokens called ART as rewards from Artemis Finance.
These staked tokens are used to participate in the operation of the decentralized sequencer and receive income distribution for stakers. It is equivalent to participating in Ethereum POS node staking with Lido and receiving income distribution for stakers.
Artemis Finance simplifies the participation threshold of the decentralized sequencer through liquidity pools, allowing any holder of METIS to obtain system income through staking!
In addition, by collaborating with other DeFi applications on the Metis chain, users can use artMETIS for re-staking in various DeFi scenarios to earn additional income or directly trade. Through artMETIS, the on-chain liquidity and composability of METIS are effectively released, helping users improve capital efficiency and promoting the healthy and sustainable development of the Metis on-chain DeFi ecosystem.
According to DefLllama's data, the TVL of Artemis Finance has reached 4.9M, with the highest liquidity staking volume, ranking fifth in the Metis DeFi ecosystem.
ART Token Information
The total supply of ART tokens is 100 million, mainly distributed through fair launches, with no releases from investment institutions or teams in the early stages, fully implementing the principles of fairness and transparency in token distribution.
Token distribution:
The treasury part includes ecosystem incentives, liquidity, and marketing plans, etc. The airdrop part mainly includes airdrops to early participants, such as early Metis stakers, liquidity providers, and ecosystem partners.
It is worth noting that in addition to the shares of incubators and advisors (tokens will be held in the NGAD treasury), the team has not reserved their own tokens. Therefore, for both the project party and ordinary users, the main channels to obtain ART are through staking and providing liquidity, and the initial selling pressure of the token will be very low, which is also conducive to the value appreciation of the token.
Earn Points through Staking
Artemis Finance has passed the audit by Peckshield and has been recognized for its code security.
The official has launched the D-Sequencer activity, which is divided into three stages. Staking can earn additional platform points. Inviting other users to participate in staking and holding vIEQB or ePENDLE (tokens from partners) can also accelerate staking rewards. Joining a guild and ranking high in the guild can also earn additional points. These points can be proportionally exchanged for corresponding airdrop rewards in the future.
It is recommended to stake METIS on the chain for long-term holders. Firstly, it can contribute to the development of the ecosystem. Secondly, it can earn staking rewards. Thirdly, it can receive future airdrops from Artemis Finance.
Staking Tutorial
- Open the official website and switch the Metamask wallet to the Metis mainnet and connect the wallet.
Website: https://artemisfinance.io/stake
You can enter someone's invitation code or participate through an invitation link.
- Enter the amount of METIS tokens you want to stake in the Stake box, click Stake, and confirm in the wallet to receive artMETIS after staking. artMETIS is a locked liquidity staking token for Metis, similar to tokens like wstETH. Holding artMETIS can earn staking income and double rewards from Artemis Finance tokens.
- If you want to redeem METIS tokens, you can click Redeem and proceed on the page.
It should be noted that according to Artemis Finance's official plan, during the D-Sequencer staking phase, staking METIS will receive rewards. However, to ensure stability during the initial launch of D-Sequencer, node operators are currently not allowed to unstake METIS. Artemis Finance plans to allow holders to obtain liquidity through incentives at the end of March and then fully launch the nodes, allowing artMETIS to be exchanged for METIS through Artemis Finance.
Conclusion
Artemis Finance is comparable to Ethereum's LIDO and is a leading project in the liquidity staking track of the Metis ecosystem. It plays a crucial role in the security of the Metis chain and the construction of the DeFi ecosystem. With the liquidity staking token artMETIS from Artemis Finance, METIS can be integrated multiple times in DeFi and provide users with new strategies to earn additional income on top of staking rewards.
On Ethereum, LSTFi projects built around liquidity staking tokens have proven their feasibility, such as Pendle, Lybra Finance, and other high-quality projects, which have performed very well even in bear markets. The DeFi Lego on the Metis chain is still in the initial construction stage, waiting to be explored and discovered. We look forward to more opportunities for LSTFi projects like Artemis Finance to appear, contributing to the DeFi ecosystem of Metis and creating more possibilities!
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