Metis Partners with Thrive Protocol to Launch $3.6 Million Annualized Opportunity for Builders and Community Members
Toronto, Ontario, September 20th, 2024, Chainwire
Metis, an EVM-equivalent Ethereum Layer-2 scaling solution, has partnered with Thrive Protocol to expand its network. As part of this partnership, Metis will be rewarding funds to builders and community members and has committed $3.36 million to this campaign.
This partnership is part of Metis’ ongoing efforts to develop a decentralized foundation that supports developers in building secure applications and provides users with various opportunities within the network.
After making history by becoming the first Ethereum L2 to launch a decentralized Sequencer, the permissionless Ethereum Layer 2 scaling network, with its extremely cheap fees and fast transaction speed is now all set to take its platform forward and power the next generation of dApps.
Under this new move, Metis is focused on expanding its network by collaborating with Thrive Protocol, which will help accelerate its transition to Web3 for an accessible, inclusive, and decentralized world. For this, Thrive Protocol brings its expertise in grants and incentive system administration for Web3 communities based on their unique qualities and requirements, to the table.
With prominent projects like Arbitrum, ApeCoin, and Sui in its bag, Thrive will now help Metis expand its infrastructure and community.
This has led to the creation of Thrive Metis, which is powered by Thrive Protocol to incentivize contributors to build and grow the Metis ecosystem. With this project, Thrive Protocol has created a robust system that streamlines grant allocation and reward achievement.
Thrive Protocol’s Role in Expanding the Metis Ecosystem
With the goal to attract, onboard, and fund highly skilled builders and key opinion leaders in the Metis ecosystem, Thrive Metis has kickstarted its Season 1, which will run through December 2024.
This season boosts the project’s efforts through the Metis Gitcoin Quadratic Funding Round, powered by Gitcoin, while offering yet another way for creators to get access to grants.
The Quadratic Funding initiative was introduced a few weeks ago, under which $100,000 was allocated to Metis’ vision of creating a scalable and decentralized network on Ethereum. A portion of the funds allocated to Thrive Metis are also being set aside as rewards for the still active Gitcoin Grants program.
All these efforts are a strong reflection of Metis’ unwavering commitment to supporting Web3 founders and startups and rewarding its loyal and engaged community members. For these efforts, the protocol has already established the Metis Ecosystem Development Fund, which aims to deploy $100 million toward building a decentralized Web3 landscape.
Thrive Metis, here, plays a critical role in the distribution of these funds. With its dynamic contribution system, Thrive Metis rewards community engagement and fosters ecosystem advancement.
The Thrive Metis initiative allows Metis to tap into its unique strengths to empower builders, creators, and developers with a streamlined contribution system. This enables Metis to reward those who actually provide value and help its network expand.
Incentivizing meaningful contributions by rewarding participation in governance, funding, and projects will enable Metis to promote an active, engaged, and prized community of users and innovators essential to becoming a leader in decentralized Web3 infrastructure.
Thrive Metis’ Rewards System: How to Get Started
To earn rewards, interested individuals can either make contributions or apply for grants. Grants require a full project proposal, deliverables, updates, and a final submission that is reviewed by multiple people in the community.
The more milestones a project achieves, the higher the rewards opportunity. So far, in 2024, Metis has committed 250,000 tokens to grants.
Contributions, meanwhile, are smaller, self-contained tasks that can be achieved by virtually anyone. Simply joining the Metis community on X (Twitter) and Discord can earn a user tokens. Other kinds of tasks include creating content for the project, engaging with Metis’ social media posts, and experimenting with DeFi protocols on its network.
This contribution system encourages active participation and builds a thriving community of creators and developers within the Metis ecosystem.
Getting started with Metis’ attractive and ‘rewarding’ system is extremely easy, too; one has to simply connect one’s wallet and social accounts to start participating and work towards earning.
Users can check out the top contributors, among other related data, on the ‘Leaderboard’ section of Thrive Metis to gain inspiration and ignite their competitive spirit to create and attempt to earn a share of $3.6 million annualized in METIS.
With the help of Thrive Protocol, Metis is ready to attract top talent to its scalable, low-cost infrastructure and fund the most impactful projects. In addition to facilitating the rapid growth of promising projects, rewarding value will lead to a healthy and flourishing Metis and broader crypto ecosystem.
About Metis
Metis is an Ethereum Layer 2 solution that prioritizes decentralization, community governance, and shared network ownership for its Decentralized Sequencer node operators. By implementing a revenue-sharing model, Metis aligns the interests of sequencer node operators with the network’s growth, while incentivizing developers and users to build and interact with protocols in a reliable, secure environment.