Lending protocol Aave deploys its version 3 (V3) to Ethereum layer 2 ecosystem Metis Network following an overwhelmingly positive community vote that ended over the weekend.
a community vote No voters opposed the move.
Aave’s deployment to Metis is said to increase market liquidity for both ecosystems, while Metis users will be able to borrow more from Aave, including earning rewards for providing token liquidity to the platform. and can benefit from the lending function.
Metis gained prominence during the previous bull market with features that enabled users to make faster transactions at lower fees on Ethereum. It has since lost its place to networks such as Optimism and Arbitrum. Holding just $40 million at Metis.
Metis, on the other hand, is offering liquidity incentives to its users to strengthen network traction following the deployment of Aave V3.
The network will provide Aave users on the network with 100,000 native Metis (METIS) tokens as liquidity mining incentives to be distributed for 6 months. Elsewhere, a token mining reward program distributes his 4,000 METIS to participating protocols commensurate with the percentage of monthly transactions generated.
At the time of writing, the Metis token was trading at $26, according to CoinGecko data.
