The DeFi landscape has seen a huge surge in attracting liquidity. There has been a continuous battle to bring in investors, as the decentralized funds offer alluring yields for that section of crypto holders who are willing to go for the risks involved and are comfortable tying up assets. Protocols make of use such funds to display their products while bringing in large investments.
MetisDAO is a protocol that is seeing significant traction in the TVL race. A Layer-2 rollup platform, the protocol has been so designed to give full support to the application plus also the migration of business from to Web3 from Web2.
The protocol has received a momentum boost too, which is parallel to the growth of the total value locked on the protocol. Data taken from CoinGecko and Cointelegraph Markets reveal that MetisDAO’s price saw a steep rise from the December $49.83 low to the peak of $323.54 reached on the 16th of this month.
The reason for the growth in total value locked on the MetisDAO protocol is down to 3 main reasons. The introduction of multiple decentralized funds protocols over the network, the extra support received on the cross-chain protocols for trading pairs based on Metis, and the ability of the network to offer Ethereum users lower costs of transactions while at the same time giving faster processing periods.
Launch Of Multiple Decentralized Protocols On Metis
One of the biggest boosts in this company value is linked to the launch of multiple protocols of the DeFi on its network. These comprise Agora, Tethys Finance, and NetSwap. These three add up to $325.24M of the total value locked on the protocol, which is $353.36M.
Another reason that has led to the spurt in the value of protocols linked to the Metis networks is the support gained from multiple bridges that are cross-chain and provide further exposure to Metis.
The final factor that has attracted value to Metis is the high throughput and the low fee structure offered by the network. It has helped Ethereum users gain in both money and time.
All these have finally caused the high growth in MetisDAO, and it now supports NFT projects and multiple decentralized finance protocols.
