Ethereum Layer-2 roll-up platform Metis is announcing key collaborations with Chainlink Labs, EigenLayer, Renzo, Ethena, and DeFi Kingdoms.
These collaborations are expected to make Metis stronger and “more accessible—a self-sustaining blockchain—by enabling better user experiences and deeper liquidity.”
Many Ethereum Layer 2 (L2) networks “offer low transaction costs and decent user experiences. But for long-term viability, an L2 also needs to be self-sustaining with deep liquidity.”
Metis claims that it has “the lowest transaction fees among its peers and will soon be the first Ethereum L2 with a decentralized sequencer, removing a centralized point of failure and protecting Metis’s future.”
As a part of these new developments, the Metis bridge interface “will be upgraded to leverage Chainlink CCIP as the official cross-chain infrastructure to power the canonical Metis token bridge, with an initial focus on bridging leading stablecoins from Ethereum mainnet onto the Metis network.”
Over time, additional blockchain networks and tokens “are expected to be supported to further accelerate the growth of the Metis ecosystem.”
Additional information on the migration “will be provided in the near future.”
Over the next couple of months, EigenLayer “will integrate Metis, creating a new liquid-restaking layer to the Metis ecosystem and dramatically boosting the network’s liquidity. Native and cross-chain restaking on Metis will come first, followed by dual restaking with $METIS, the Metis network token.”
Eigenlayer will also allow users to “use $METIS to pay for EigenDA, EigenLayer’s hyperscale data-availability layer, with additional functionality for future actively validated services (AVSes) and roll-up services coming in mid-2024.”
Metis’s partnership with Renzo will “bring native ETH restaking. Using Connext’s Restake from Anywhere module, users will be able to deposit Metis-native ETH into Renzo for ezETH without worrying about bridging and restaking manually.”
This will unlock easier access “to DeFi within the Metis ecosystem.”
Ethena will also contribute “a key component to Metis’s new liquidity layer: the yield-bearing stablecoin USDe.”
Protected by LayerZero’s security, USDe allows users “to deposit traditional fiat, ETH, or liquid staking tokens (LSTs) and earn yield while minimizing risk through delta-neutral hedging.”
Bridging USDe from multiple blockchains to Metis “will give users flexible investment options and nicely complement Metis’s recent Liquid Staking Blitz.”
Ethena users can also bridge their USDe to Metis from multiple chains, all powered and secured by LayerZero.
Lastly, after two years of development, DeFi Kingdoms (DFK) will “deploy a new, eagerly awaited combat mode of their game on Metis, introducing player-versus-player (PvP) battles and tournaments in the Colosseum. At launch, this feature will live exclusively on Metis.”
On Avalanche, DFK generated “up to $130 million daily at its peak, so the new game mode has significant potential to bring players and transaction volume to the Metis blockchain.”
Together, these four developments will “give users compelling new reasons to choose the Metis ecosystem while eliminating more of the pain points associated with L2 networks.”
As covered, Metis is “an EVM-equivalent Ethereum Layer-2 protocol focused on bridging the gap between Web2 and Web3.”
Metis provides users with “a secure, decentralized, scalable, and easy-to-use network.”