$METIS Incentive Program: Announcing the Launch of $METIS Incentives for Zeno Users
Sages,
The time you have been waiting for has arrived! After a long public open beta, Zeno is now ready to move on to the next phase of the launch. Earlier this week, Metis Network released a very important upgrade to slash the gas price and also increase the block size by 40x!
This change massively reduces on-chain transaction fees to just a few cents, significantly improving the user experience and making Metis one of the most affordable chains available.
This update serves as the perfect springboard we have been waiting for to advance Zeno to the next phase of its launch. Sages, get your wallets ready for real yields and incentives.
Incentives Plan
As previously announced, Zeno has received a substantial grant from the Metis Foundation. We plan to use it immediately to bootstrap activities on our platform.
Over the next eight weeks, we will incentivize ZLP and traders with 4,000 $METIS, valued at over $200,000, according to the following schedule.
Rewards will run on a weekly epoch starting Thursday.
- For ZLP, rewards will be distributed pro-rata based on the amount of deposits. On top of the incentives, ZLP depositors will also earn 50% of the protocol revenue earned.
- For Traders, rewards will be distributed pro-rata based on the ZLC accrued by the trader during the period
- Rewards and incentives will be paid out every Thursday
Below is the table representing ZLC:
Note: We will monitor activities closely and reserve the rights to make incentive adjustments that align with our protocol objectives.
Airdrop & Token 🪂
Let’s be honest: the airdrop meta has become “dead” after the last few high-profile drops in Q2. Given the current farmer fatigue and market conditions, we believe it’s best for our users, community, and the long-term prospects of our protocol to delay the token and airdrop launch. Our team will revisit the drawing board to strategize and research the next meta for token launches before making any final decisions, which we will communicate in the future.
To be clear, we are NOT promising any future airdrop or token launch for users. Zeno Exchange will remain free of our governance token until decided otherwise.
In the meantime, you can expect a clean, no-frills product with real METIS incentives, where you will know exactly how much $$ you will receive.
One-time METIS Incentives early Zeno Exchange Users 💰
Users who deposited funds and traded on Zeno before today’s announcement will receive a one-time incentive of 200 $METIS as a thank-you for their participation.
Liquidity Providers: You will share 200 $METIS rewards based on the number of ZLP tokens you hold and the duration you’ve held them for.
Traders: You will not receive a retroactive distribution of $METIS. However, the ZLC you have accrued so far will be taken into consideration for the first epoch of $METIS grant distribution.
Timeline ⏰
The incentives will go live today, Thursday, August 8th, and will run for eight weeks. Get your wallets ready, Sages! We look forward to welcoming everyone to trade on Zeno.
Til next time, Sages! 👋
