METIS/artMETIS Pool is Live on Hercules
Great news! artMETIS/METIS is listed as a Alpha Pool on Hercules Dex.
Artemis, the pioneering decentralized sequencer-based LST protocol, is leading the charge in enhancing DeFi composability for users. The introduction of artMETIS/METIS marks a significant milestone toward positioning artMETIS as a pivotal asset within the Metis ecosystem’s future landscape.
With the launch of artMETIS/METIS pool, users have the freedom to exchange between the two assets, enhancing on-chain interactions, especially with artMETIS being a yield-bearing token, encouraging arbitrage and further activating interactions within the ecosystem.
There are quadruple benefits for artMETIS/METIS liquidity providers:
- oMETIS, the incentive token from Artemis；
- xMETIS, the incentive token from the Hercules；
- 2x Art-Points from Artemis;
- TORCH whitelist spots from Hercules.
What is oMETIS?
oMETIS stands for Option METIS that can be used to acquire METIS tokens at a discount to the market price. Holding oMETIS allows you to vest on the oMETIS page of Artemis, choosing between 2 to 40 weeks. For every additional week of vesting, you receive a 2.5% discount, up to 40 weeks, where you can acquire METIS tokens for free.
For example, if you choose to vest 100 oMETIS for 10 weeks, you receive a 25% discount, meaning if the METIS price is $100 at the time, you only need to spend $75 to acquire 1 METIS.
This model has been adopted by various Ethereum and Arbitrum projects to incentivize liquidity providers. It aims to attract strong supporters for METIS and incentivize liquidity growth.
The oMETIS reward will be allocated from April 1st.
How are Art-Points calculated?
By utilizing the artMETIS acquired through the D-Sequencer Campaign on Artemis and providing liquidity on Hercules, you will continue to earn Art-Points based on the previous campaign rules. Additionally, you have the opportunity to earn 2x Art-Points, which accumulate daily based on the amount of artMETIS/METIS deposited.
For example, if you have 10 artMETIS generated from the D-Sequencer Campaign and you deposit this 10 artMETIS along with 10 METIS on Hercules, you will earn 10 Points from the D-Sequencer campaign and an additional 20 Art-Points from providing liquidity on Hercules. This results in a total of 30 Art-Points.
Note:
- Withdrawal of liquidity from Hercules halts Art-Points generation immediately;
- Buying artMETIS through the secondary market (Hercules) won’t generate any Art-Points from the D-sequencer campaign. However, you can use these artMETIS to provide liquidity on Hercules to earn 2x Art-Points;
- Swapping artMETIS into METIS results in the withdrawn portion of artMETIS becoming ineligible to continue generating Art-Points.
Next Step
We will collaborate more closely with the Metis Foundation, staking at the earliest opportunity upon the launch of the Decentralized Sequencer to ensure its secure operation, while also earning staking rewards. Additionally, we will promptly follow up with the launch of the redeem feature following the official launch of the withdraw function. At that time, each artMETIS can be redeemed for at least 1 METIS. Therefore, we advise everyone to refrain from selling artMETIS during the early stages of its listing when the price may be unstable, to avoid unnecessary losses.
Artemis
Artemis Finance is a liquid staking protocol designed exclusively for Metis Decentralised Sequencer Pools. It is also a member protocol of NGAD.
