Metis is about to launch community testing for the PoS sorting pool
The Layer2 project Metis, which proposes the concept of a PoS sorting pool, is about to launch community testing.In the past month, the L2 sector has performed remarkably well, with an average increase of 50% for L2 projects. Among them, Metis saw its token price rise from $22 to nearly $100, an increase of over 400%. In terms of TVL, Metis surged over 700%, reaching $714 million, surpassing Base to become the third-largest L2 project.
One of Metis's core innovations is its PoS Sequencer Pool, which is a proof-of-stake sequencing pool.
Sequencers are key components of L2 Rollup solutions. The term Rollup refers to the sequencer organizing and sorting hundreds or thousands of transactions from the layer two network, then compressing and packaging them for submission to the mainnet, which is why L2 networks have a performance leap compared to the mainnet.
Currently, the more mainstream sequencer solutions are single sequencer models, meaning there is only one sequencer node in the network that handles all transactions. Similarly, all the revenue generated by the sequencer is collected by that node, which is usually operated by the L2 project team.
Unlike traditional single sequencer models, Metis's PoS Sequencer Pool allows multiple entities to run sequencers, thereby enhancing the network's security and decentralization. This transformative approach not only eliminates the risks of single points of failure and censorship but also provides more opportunities for participation and rewards for network participants.
Advantages of the PoS Sequencer Pool
- Enhanced Security and Decentralization
The PoS Sequencer Pool model of Metis does not rely on a single entity to process transactions, significantly improving the network's security. This multi-participant model reduces the risk of the network being attacked or censored, allowing multiple entities to participate in transaction processing, ensuring transparency and fairness in the network.
- Improved Network Stability
The PoS Sequencer Pool decentralizes the responsibilities and powers of network operation, helping to balance the load and reduce the risk of network interruptions caused by single node failures.
- Community Revenue Sharing
Another key advantage of Metis's PoS Sequencer Pool model is that it allows ordinary users to become sequencer nodes through staking. This not only further strengthens the network's decentralization but also provides ordinary users with opportunities to participate in network governance and earn node rewards. Users can participate in the network's operation by staking tokens, directly benefiting from the network's growth dividends, making community development more sustainable.
This model encourages technological innovation and community participation, providing developers and users with a more open and inclusive platform, while also setting new standards for the development of blockchain technology, especially in enhancing network participation and incentive mechanisms, which has important references and inspirations for the development of the entire Ethereum ecosystem.
From a market performance perspective, users are very receptive to this brand-new narrative. As the first fully decentralized L2 project, users' bets on Metis have allowed it to evolve from a newcomer to one of the three giants. Despite the massive increase, Metis's market cap of $900 million is still only 1/4 of the leading Optimistic, indicating significant potential for further growth.
Community Testing is About to Begin
Metis was originally scheduled to launch its first community test after enabling the PoS Sequencer Pool on January 3. However, after launching a $400 million (4.6 million METIS) ecosystem incentive fund, the community response was enthusiastic. According to an announcement from Metis, due to many new projects applying to join, the scale of the testing exceeded expectations, prompting Metis to postpone the start time of the community test, which will be decided by community vote on January 10.
The main purpose of the Metis community test is to validate and optimize the performance and stability of its PoS Sequencer Pool. Through community participation, Metis can test its network in real-world usage scenarios, ensuring that all functions run smoothly before the official deployment. This not only helps identify and fix potential issues but also enhances the overall reliability and user experience of the network.
The community testing plan will last for four weeks. During this period, users will have the opportunity to deeply experience various features of Metis and help improve the network's performance through practical operations.
The Metis community test will be conducted in two phases:
Phase One
This phase is primarily for testing DApps. During these two weeks, users will experience and test various DApps on the Holesky Testnet, including not only existing applications that are already running but also some new applications that have not yet been publicly released.
The applications that have been announced to participate in the testing include:
Hummus Exchange ------ A unilateral automated market maker providing stablecoin trading for Metis. The token HUM has risen from $0.01 to $0.05 in the past month, an increase of 400%.
Netswap ------ The first native decentralized exchange on Metis. The token NETT's price has risen from around $0.1 to $2 in the past month, nearly a 20-fold increase.
Tethys Finance ------ A perpetual contract exchange supporting up to 50x leverage. The token TETHYS has risen from $0.2 to around $0.9 in the past month, an increase of 350%.
Hermes Protocol ------ A cross-chain liquidity protocol that allows for exchanges between any chains using centralized and unified liquidity. The token HERMES has increased by 300% in the past month.
More applications participating in the testing are continuously being updated.
It is worth noting that some teams that previously deployed protocols on other chains have also begun to show interest in Metis. Daniele Sestagal, a developer who successfully helped the Fantom ecosystem grow from zero to billions of dollars, has also deployed Wagmi on Metis and successfully received $2 million in support from the Metis CEG (Metis Ecosystem Development Fund).
Phase Two
In the second phase, users will continue to explore DApps. This phase may include more advanced tasks aimed at deeply testing the network's performance and stability. Additionally, the staking protocol of the Metis network will also be launched during the testing period. More details about the second phase of testing will be released in mid-January.
Users participating in the Metis community test will have the opportunity to earn points by completing various activities, including using different DApps on the testnet, participating in transactions, and testing other network functionalities. The points system will encourage users to actively participate in the testing and provide them with opportunities to directly benefit from it.
Points earned during the testing process can be redeemed for various rewards after the testing period ends, such as Metis tokens, special access privileges, or other priority rights related to the Metis ecosystem. More details about point acquisition and rewards can be followed through updates on Metis's social media.
For Metis, through the participation and feedback of community users, it can better understand user needs and continuously optimize its technology and services. This community-driven development model not only helps build a stronger and more reliable network but also allows community members to directly participate in the development of Metis, jointly promoting the progress of the Ethereum ecosystem.
Conclusion
The Metis community test is a practice and demonstration of its decentralized vision. The core of this test is to promote and validate Metis's PoS Sequencer Pool, which is a milestone innovation for the entire Ethereum ecosystem.
The successful implementation of the Metis PoS Sequencer Pool heralds the arrival of a more secure, efficient, and fair L2 network, which will greatly enhance the network's decentralization and user experience, setting an innovative benchmark for the entire L2 sector.
