METIS Foundation recently announced an ecosystem development fund with a total value of up to 100 million USD.
METIS announces a $100 million ecosystem support fund
The METIS Ecosystem Development Fund (EDF) will consist of 4.6 million METIS Token and will be used to incentivize product development and activities within the METIS Second-Layer Solutions .
METIS EDF: A new chapter for METIS.
— METIS 🌿 (@ MetisDAO) December 18, 2023
METIS Ecosystem Development Fund (EDF) is a 4,600,000 METIS on-chain fund that will be dedicated to accelerated development and adoption on the METIS ecosystem.
Read more here: https://t.co/IDrFfnqmAG
It is known that development funds will begin to be allocated in the first quarter of 2024, after the process of decentralizing the Sequencer network on METIS takes place.
Previously in October 2023, the METIS community approved a proposal to bring Data Availability back to the Ethereum mainnet , and integrate this roadmap to decentralize Layer-2 Sequencers.
The focus of EDF fund allocation will be Sequencer Mining activities ( METIS locking unit and supporting the Block creation process), DApp development team, Liquidity Mining activities and Smart Contract technical audit (Audit).
Notably, the proportion allocated to authentication units will be larger, fluctuating around 65%. Meanwhile, ecosystem development will span many product areas such as RWA, Non-Fungible Token or Cross-chain bridges.
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