LST Proposal: Request for Additional Sequencer Node for Artemis Finance

Approved
1

Abstract

This proposal seeks to address the growing demand for METIS staking and participation in the decentralized sequencer by requesting the addition of a second sequencer node for Artemis Finance. As the community’s interest in staking METIS continues to rise, reaching the lock-up cap of 100,000 METIS for the designated sequencer node, it is crucial to accommodate the increasing staking requests from the community.

Proposal

We hereby submit this proposal to request the establishment of an additional Sequencer Node to meet the staking demands of the community after we reach the 100,000 METIS sequencer lock-up cap. This decision aims to bring numerous benefits to the METIS ecosystem:

  1. Expanded Participation: By adding another Sequencer Node, we can extend the opportunity for more METIS holders to participate in the industry’s first Decentralized Sequencer and share in the staking rewards.

  2. Attraction of Non-METIS Users: The introduction of a second Sequencer Node will create a yield opportunity that can attract non-METIS users to join the Metis ecosystem and hold artMETIS, thereby expanding the community and fostering growth.

  3. Enhanced Security: Increasing the staked METIS amount through an additional Sequencer Node will strengthen the security threshold of the Decentralized Sequencer network, ensuring a more robust and resilient infrastructure.

  4. Stimulating On-chain Activity: The inclusion of more assets within the Metis ecosystem will further stimulate on-chain activity, driving engagement and promoting the overall development of the network.

We acknowledge concerns regarding centralization during the initial stages of the Decentralized Sequencer. It is important to note that the limited number of nodes available to the METIS Foundation and its closest partners is a temporary measure. Moving forward, we are committed to actively collaborating with multiple Sequencer node operators to disperse Artemis staked METIS and maintain the decentralization of the Sequencer network.

We invite the community’s support and engagement in this proposal, as it will shape the future of METIS staking and contribute to the continued growth and resilience of the Metis ecosystem.

About Artemis Finance

Artemis Finance is a liquid staking protocol exclusively designed for Metis Decentralized Sequencer Pools. Through Artemis Finance, METIS holders can stake their tokens and receive artMETIS, a liquid wrapper that automatically accumulates earnings. This streamlined approach simplifies the staking process and fosters a robust DeFi usage scenario.

For more information, please refer to LSD Proposal - Artemis.

Key Stats

During the past two months since the launch of Artemis, the protocol has achieved significant milestones:

Artemis has effectively attracted TVL to various partners, including:

  • Hercules Exchange: $1,660,000 (artMETIS/METIS)
  • Shoebill Finance: $1,610,000 (artMETIS market)
  • Vector Finance: $450,000

These achievements underline the growing interest and trust in Artemis Finance as a reliable platform for METIS liquid staking.

1 Like
2

I see this a positive only proposal. I think our eco def needs another node assigned to Artemis to keep up with the demand for LSTs and the growing list of LST-focused products that are set to launch.

I’m confident the Foundation will expand node sequencer operations in due time and in this current moment, I think another node assigned to Artemis only helps with the vision of expanding both the Sequencer nodes and LST opportunities within the eco.

3

Dude.

This is so bullish for Metis and it’s ecosystem.

I see this as further decentralizing the nodes and further creating opportunities for participation.

Not only will this increase the potential supply shock, but should encourage users from outside the Metis ecosystem to come participate!