In the dynamic world of Web3, builders hold the key to unlocking innovation and driving the industry forward. At Metis, we keep vigorously improving our tech in order to onboard the next billion users, and we keep constantly looking for talented and passionate teams to join our mission. We understand that we’d be nowhere without the invaluable contributions of builders, and have decided to “put our money where our mouth is”.
Today, we are thrilled to introduce the Metis Builder Mining Rewards program (BMR), a groundbreaking retroactive funding initiative that revolutionizes how Web3 builders are incentivized and rewarded.
We believe that builders are the lifeblood of any thriving ecosystem, and their hard work deserves to be not only recognized, but celebrated. With that in mind, we are proud to allocate 10,000 $METIS tokens every month to our ecosystem partners, empowering them to deploy and prosper on our Layer 2 platform.
This initiative serves as a testament to our commitment to builders and their integral role in driving the growth of DeFi, ReFi, DeSci, NFTs, DAOs, GameFi, etc.
Within this allocation, 4,000 $METIS tokens are specifically designated for projects based on their trading volume. We firmly believe that trading volume reflects the vibrancy and engagement within the Metis community, and we aim to reward projects accordingly. By aligning rewards with trading volume, we foster an ecosystem where builders are recognized for their contributions and motivated to continuously innovate and grow their projects.
The formula for token distribution to partners is as follows:
Project A’s allocation percentage = Total Transaction Numbers via Project A’s Smart Contracts / ∑ (Total Transaction Numbers via All Applied Projects’ Smart Contracts)
Builder Mining rewards will be calculated by each block, which means the more blocks, the more rewards (with an upper limit of 4,000 $METIS) can be distributed.
Note: For every month we will calculate the number of blocks that generated in that month; $METIS rewards will be accumulated at each level, but will not surpass the upper limit. This plan will be adjusted when the number of blocks per month surpasses 4,000,000.
The distribution of rewards is meticulously calculated block-by-block, ensuring that builders are fairly compensated for their sustained efforts. We have implemented a formula to determine each project’s allocation percentage, taking into account the total transaction numbers of their smart contracts relative to the total transaction numbers of all applied projects.
This approach ensures that rewards are distributed in a proportional and equitable manner, reflecting the growth and success of each project.
Beyond monetary compensation, we are committed to providing extensivecomprehensive support for builders.
The remaining 6,000 $METIS tokens each month are allocated to special initiatives that uplift builders in various ways. Verifier rewards, Staking rewards, special grants, cold launch assistance, and milestone events are just a few examples of the support we offer to foster the success of native projects launched on Metis. We actively engage with ecosystem projects’ applications, consider recommendations from existing projects on Metis, and involve the Metis community through Snapshot proposal voting, thanks to our valued partnership with Snapshot.org.
Our goal is to support at least three projects per month through these special initiatives, ensuring that deserving projects receive the necessary resources to thrive. Any unused tokens from this monthly allocation are rolled over to the following month, ensuring that our support remains consistent and accessible.
We have already witnessed remarkable achievements within our ecosystem, showcased by the success of projects like Hummus, Tethys, MaiaDAO, and Hera Finance. These projects have flourished with our support, leveraging initiatives such as cold launch assistance, marketing, and community engagement.
As an ambitious project ourselves, we highly appreciate the contributions of our ecosystem partners and have a mission to empower and support builders every step of the way.
With the enhanced Metis Builder Mining Incentive Plan, we invite you to join us on this extraordinary path where innovation and rewards converge to drive exponential growth and transformation.
Together, we will shape the future of decentralized applications and build a world where blockchain technology creates transformative opportunities for all.
Join us in this journey. Let’s change the world together.
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