Wednesday, May 22, 2024

Metis Launches Decentralized Sequencer On Testnet Following Meteoric Growth

Metis’s TVL is up 775% in four weeks, while its token gained 384% over the same period

Metis, an Ethereum Layer 2 network, launched a decentralized sequencer on testnet as the project seeks to differentiate itself from rival projects within Ethereum’s growing L2 ecosystem.

Metis launched its decentralized sequencer on the Sepolia Ethereum testnet on Jan. 15, urging users to help stress-test the feature. Metis said testnet participants will be rewarded with Community Testing points.

“Metis is committed to pioneering the development of the first Ethereum Layer 2 rollup featuring a decentralized sequencer,” Metis said. “We encourage our community members to test and explore diverse DApps actively on the Sepolia Testnet.”

Metis said that several DeFi dApps are currently live on its Sepolia deployment to stress-test the sequencer. Said dApps include decentralized exchanges supporting stablecoin, perpetuals, and token swaps in the form of Hummus Exchange, Tethys Finance, and Netswap, in addition to the League Tech socialfi platform and Midas Games predictions market.