Metis Accelerates Liquidity Protocol Hercules in Ecosystem Development Grant
Toronto, Canada, March 15th, 2024, Chainwire Metis, the first Ethereum Layer 2 rollup to decentralize its sequencer, has committed $1 million to the forthcoming Hercules protocol to cement the growing network’s liquidity layer. With dozens of launch partners and the fund, Hercules and Metis are positioned to redefine what an L2 can do. "Hercules is […]
Metis, the first Ethereum Layer 2 rollup to decentralize its sequencer, has committed $1 million to the forthcoming Hercules protocol to cement the growing network’s liquidity layer. With dozens of launch partners and the fund, Hercules and Metis are positioned to redefine what an L2 can do.
"Hercules is a fundamental part of the Metis ecosystem," said Matt Gunn, Metis L2 Business Development Lead. "As a highly efficient and composable DEX and launchpad, Hercules will be an incredibly powerful tool for protocol builders and individual users alike."
The Metis Ecosystem Development Fund, a competitive grant line of US$ 500 million, is transforming the Metis network and the entire blockchain industry. This fund is supporting project deployments, product development for existing dApps, Builder Mining rewards, first-of-its-kind sequencer mining, and more.
“We are deeply grateful to the Metis Foundation for its generous support,” said Wilson Duarte, founder of Hercules. “We are thrilled to build on Metis and help other projects grow and launch on this incredible network. This isn't just about innovation; it's about community, collaboration, and setting new expectations for DeFi.”
Hercules, the only friendly fork of the wildly successful Camelot decentralized exchange (DEX) on Arbitrum, is preparing to launch on Metis. At launch, Hercules’ features will include Algebra's advanced concentrated liquidity AMM, active liquidity management (ALM) strategies for liquidity providers, integrations by sophisticated aggregators OpenOcean, LI.FI, and Synapse, and deep customization for project-owned liquidity. Soon after launch, Hercules will open its Launchpad to the most promising and innovative new projects on Metis.
With its launch, Hercules ushers in a parade of big projects from across the space to join as liquidity and launchpad partners. The Metis grant will allow Hercules to sustainably reinforce these foundational partners’ initial liquidity on Metis.
About Metis
Metis is redefining blockchain's potential with its innovative Ethereum Layer 2 network. Focusing on accessibility, scalability, and security, our platform empowers the transition of applications, businesses, and communities to a new digital, decentralized, and open economy. Metis makes blockchain simple for everyone, ensuring fast, secure, and affordable transactions. Join Metis in pioneering a future where blockchain technology is within everyone's reach, paving the way for a more inclusive digital world.
Users can learn more about Metis by visiting metis.io and start building on Metis metis.io/dev/
About Hercules
Modeled after the highly successful Camelot DEX project, Hercules is a community-first, capital-efficient and flexible DEX developed with multiple tools to support the next generation of builders who look for sustainable liquidity in the Metis network.
