Metis Ecosystem Development Fund Boosts METIS Token
The announcement of the Metis Ecosystem Development Fund has caused a surge in the price of the METIS token, which rose by 17.30% on Monday. The fund, valued at over $100 million, will be used to support grants for dApps, sequencer mining, and other product development projects. Funding distribution is set to begin in Q1 2024. Metis aims to become the first fully decentralized Ethereum Layer 2 platform by the end of 2023.
Token Surges in Value
At 12:38 p.m. ET, METIS was trading at $28.06, reflecting a 13.7% increase from the previous day’s value. This surge can be attributed to the announcement of the Metis Ecosystem Development Fund.
About the Author
MK Manoylov is a reporter for The Block since 2020. With a graduate degree from New York University’s Science, Health and Environmental Reporting Program (SHERP), MK has covered various crypto news topics and has a particular interest in NFTs, metaverse, web3 gaming, funding, crime, hack, and crypto ecosystem stories.
Hot Take: Metis Ecosystem Development Fund Drives METIS Token Growth
The introduction of the Metis Ecosystem Development Fund has had a significant impact on the value of the METIS token. With an impressive increase of 17.30%, this surge demonstrates investor confidence and excitement surrounding the future development projects supported by the fund. As Metis strives to become a fully decentralized Ethereum Layer 2 platform by late 2023, this funding initiative plays a crucial role in achieving that goal. By providing grants for dApps, sequencer mining, and other product development endeavors, the Metis Ecosystem Development Fund ensures continuous progress and growth within the Metis ecosystem.
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