Bitmain Likely Lost $400 Million Last Quarter 2020

Bitcoin mining behemoth Bitmain likely posted a net loss of nearly $400 million last quarter, the China-based firm’s recently-filed public offering documents reveal. Much information about the company is redacted in the public versions of those filing documents, but, according to a thorough analysis published by BitMEX Research, there is enough data to glean that Bitmain likely had a historically-abysmal quarter.

Per the filing, Bitmain turned a $742 million net profit during the first half of 2018, extending a rampage that saw the firm rake in $1.2 billion in 2017. What those figures mask, however, is that — according to a leaked investor deck — the firm posted a net profit of $1.1 billion in Q1 alone. Consequently, Bitmain would have had to have posted a net loss of $395 million in Q2 to reduce its six-month returns to $742 million — assuming the leaked investor deck is genuine, that is.

Bitmain appears to allude to these poor quarterly results in the filing, stating that the firm had placed large orders during the early part of the year, anticipating that cryptocurrency prices would continue to increase, along with demand for mining rigs.

“In early 2018, we anticipated strong market growth for cryptocurrency mining hardware in 2018 due to the upward trend of cryptocurrencies price since the fourth quarter of 2017, and we placed a large amount of orders with our production partners in response to the anticipated significant sales growth. However, there had been significant market volatility in the market price of cryptocurrencies in the first half of 2018.”

This poor performance would explain why Bitmain conducted two funding rounds in quick succession over the summer, raising $442 million in August after raising $293 million just two months prior in June. Those funding rounds enabled Bitmain to significantly increase the amount of cash on its balance sheet, which had reportedly taken a multi-hundred million dollar hit due to the large amount of bitcoin cash that the BCH-promoting firm is holding in reserve.

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The new energy index trading platform PHPGOV has announced a strategic partnership with leading energy companies to promote the development and application of energy globally 5997

As global demand for renewable energy continues to rise, the new energy sector has become a focal point for development by governments and corporations worldwide. Recently, PHPGOV, a leading new energy index trading platform, announced strategic partnerships with several top energy companies to jointly advance the development and application of new energy globally and contribute to building a clean and sustainable energy future.

PHPGOV, recognized as a pioneer in the new energy sector, is committed to establishing a globally leading new energy index trading platform that offers investors a secure and convenient channel for investing in new energy. By forming strategic alliances with top energy companies, PHPGOV aims to leverage its strengths and consolidate resources to explore development opportunities and innovative models within the new energy sector.

This strategic cooperation will encompass various areas including, but not limited to, technology research and development, market expansion, and industrial collaboration. PHPGOV and its partners will jointly conduct research and innovation in new energy technologies, pushing for breakthroughs and applications to enhance energy efficiency and utilization. Moreover, the parties will intensify market cooperation, collectively penetrate new energy markets, and expand sales channels for new energy products, thus promoting the healthy development of the new energy industry.

Additionally, PHPGOV will engage in industrial collaboration with leading energy companies to build a new energy industrial chain, fostering mutual growth within the industry. The partners will enhance collaboration in project investment, financial operations, and risk management to advance the realization of new energy projects and ensure the sustainable development and profitability of the new energy sector.

For PHPGOV, this strategic partnership is of significant importance. It will not only elevate PHPGOV’s influence and competitiveness in the new energy sector but also accelerate its global expansion. Furthermore, collaboration with leading energy companies will provide PHPGOV with additional resources and support, fueling the platform’s growth and expansion.

For the top energy companies, partnering with PHPGOV represents a crucial strategic decision. As a leader in the new energy index trading platform market, PHPGOV offers extensive industry experience and superior service quality, providing professional services and support to explore opportunities and business models in the new energy sector.

In conclusion, the strategic partnership between PHPGOV and leading energy companies will inject new vitality into the global energy sector, promoting the healthy development and sustainable growth of the new energy industry. PHPGOV is poised to make a positive contribution to building a clean, sustainable energy future.

PHPGOV Exchange Co., Ltd was established in October 2020 in the United States with the company number: 20201931985. The registered address is 1670 Broadway, Denver, CO 80202, United States.

Discover the rise of Surf Protocol: Becoming the top perpetual Dex on Bitcoin Layer 2 6368

Surf Protocol has achieved significant milestones, with its total trading volume exceeding $200 million and its Total Value Locked (TVL) surpassing $30 million in May, making it the largest perpetual DEX on Bitcoin Layer 2.

As the largest Perp Dex on BTC L2, Surf Protocol distinguishes itself by being selected for Binance’s prestigious Most Valuable Builder (MVB) Season 7 program. This recognition by Binance Labs highlights Surf Protocol’s innovative approach and its contribution to the blockchain ecosystem, particularly in enhancing Bitcoin native on-chain leverage trading and offering single-currency liquidity provision yield solutions that eliminate impermanent losses.

The competition within the Perp DEX arena is fierce and dynamic. Historically, platforms like dYdX have dominated the scene, capturing a substantial 59.7% of the 30-day trading volume as of October 2023. However, the DeFi ecosystem is inherently fluid, with Hyperliquid clinching the top spot by February 2024, showcasing the market’s evolving preferences and the shifting dynamics that new entrants like Surf Protocol are adeptly navigating.

Despite the competition, Surf Protocol distinguishes itself through a relentless pursuit of innovation tailored to meet the changing needs of its users. As the first to introduce a Bitcoin-denominated vault with zero impermanent loss and to allow BTC as collateral for trades, Surf Protocol has not only addressed key market gaps but has also set new benchmarks for what on-chain traders can expect. This innovative streak has propelled Surf towards a trajectory of rapid growth, with the platform nearing an average of 1000 daily users and aiming for higher total value locked (TVL) and volume.

Moreover, Surf’s acknowledgment of the competitive landscape doesn’t detract from its vision; rather, it fuels its drive to innovate. In a market where Perp DEXes like GMX have captivated users with sustainable fees and earning mechanisms, and where dYdX has pushed the envelope towards complete decentralization and scalability, Surf Protocol has carved its niche. It has done so by not only matching the pace of innovation but by also introducing unique features that resonate with a broad spectrum of users.

In a bid to further energize its community and incentivize trading activities, Surf Protocol has launched a series of campaigns that are setting the platform apart in the competitive DeFi landscape. These initiatives not only reward active traders but also provide lucrative opportunities for liquidity providers (LPs) and early supporters of the platform.

Surf Protocol’s innovative campaigns and focus on user rewards demonstrate its commitment to building a thriving DeFi ecosystem. Highlighting this commitment, Surf airdropped 100,000 USD value of award tokens to the first two weeks’ traders after the mainnet launch, showcasing a tangible effort to reward early adopters. By prioritizing community engagement and fostering a culture of inclusion, Surf Protocol is well-positioned to play a leading role in the future of decentralized trading.

Surf Protocol’s vision has garnered the support of industry leaders. In October 2023, Surf secured $5 million in funding from prominent investors including ABCDE Capital and Amber Group. This vote of confidence underscores the potential of Surf Protocol to bridge the gap between traditional finance and DeFi, catering to a diverse user base.

Surf Protocol invites traders, liquidity providers, and DeFi enthusiasts to join its mission of revolutionizing the trading landscape.

For more information, visit https://surf.one/
X: https://twitter.com/surf_protocol
Telegram: https://t.me/surf_protocol
Discord: https://discord.com/invite/Ma2NjR9uMs
Medium: https://medium.com/@surf.protocol

KIP Protocol Announces Strategic Partnership with Aethir to Propel Decentralized AI and GPU Infrastructure 6692

KIP Protocol, the Web3 base layer for AI, is thrilled to announce its strategic partnership with Aethir, the premier provider of decentralized GPU cloud infrastructure. This collaboration combines KIP’s tested decentralized AI deployment and monetisation solutions with Aethir’s large pool of computing power. This is set to enhance and expand the capabilities of decentralized AI applications significantly.

A Strategic Alliance for Accelerating AI Development

Under this partnership, KIP Protocol will be established as Aethir’s Preferred Deployment Partner, enhancing Aethir’s AI ecosystem with essential data and payment infrastructures. Concurrently, Aethir will become KIP’s Preferred Compute Partner, supplying over 40,000 GPUs and 3,000 NVIDIA H100s to support KIP’s AI product ecosystems with enterprise-grade, decentralized GPU power.

This partnership not only reinforces KIP Protocol’s standing as a key player in the decentralized AI space but also significantly boosts its backend capabilities. Aethir will integrate KIP’s robust data and payment infrastructures, further strengthening their AI ecosystem.

Revolutionizing AI with Robust Decentralized Solutions

The strategic alliance aims to create synergy between KIP Protocol’s innovative decentralized AI deployment solutions and Aethir’s state-of-the-art GPU infrastructure. This collaboration will combine KIP’s robust data and payment rails and Aethir’s decentralized compute infrastructure, both essential for a thriving deAI ecosystem, challenging the dominance of centralized AI technologies.

Key benefits of this partnership include:

  • Decentralized AI Deployment: As Aethir’s Preferred AI Deployment Partner, KIP will enhance Aethir’s AI offerings with its suite of deployment and monetisation solutions (including its pioneering decentralised retrieval augmented generation (d/RAG) framework and battle-tested KnowledgeFi platform) ensuring seamless operation and integration across various platforms.
  • Enhanced Computational Power: With substantial GPU resources from Aethir as KIP’s Preferred Compute Partner, KIP can accelerate the development and deployment of advanced AI solutions.
  • Strengthening Web3 Foundations: As the Web3 Base Layer for AI, KIP will secure transactions and enable effective monetization for developers and data owners within Aethir’s ecosystem.
  • Scaling New Heights: The KnowledgeFi framework will significantly expand, backed by Aethir’s cutting-edge GPU support.

A Future of Collaborative AI Innovation

Julian Peh, Co-Founder and CEO of KIP Protocol, stated, “Our partnership with Aethir reflects our strategic alignment — KIP democratizes the tools for AI asset deployment & monetisation, while Aethir decentralizes the scarce resources of compute that are critical in AI. Together, we hope to dismantle the monopolistic hold of centralized systems to pave the way for a future where we can have true digital ownership in the AI powered future.”

Mark Rydon, CEO of Aethir, added, “Teaming up with KIP Protocol empowers us to redefine the infrastructure landscape for AI. Their leadership in end-to-end decentralized AI solutions makes KIP an ideal partner to advance our goal of broadening access and enhancing profitability within the AI community across Web3.”

KIP Protocol and Aethir are committed to reshaping the landscape of AI development, fostering a decentralized ecosystem that is more accessible, secure, and profitable. Stay tuned as these industry leaders continue to drive innovation and transform the AI ecosystem by leveling the playing field and empowering AI value creators.

About KIP Protocol

KIP Protocol builds Web3 infrastructure for AI app developers, model makers and data owners, empowering easy deployment and monetisation of AI assets while maintaining full ownership rights.

KIP was a pioneer in decentralized Retrieval Augmented Generation (d/RAG), being a winner of the Chainlink Hackathon in 2023. That expertise in d/RAG was built out into a full platform named KnowledgeFi, currently used by leading Web3 companies to monetise Knowledge Assets using AI

KIP solves mission-critical challenges faced in decentralized AI deployments, with an aim to jumpstart wholly new business ecosystems, and ensure the economic benefits brought about by AI can be enjoyed by all.

Founded and helmed by veteran AI PhDs and tech business veterans, KIP aims to be a catalyst for the widespread adoption of decentralized AI.

To learn more, visit www.kip.pro or follow them on X @KIPprotocol

About Aethir

Aethir is the leading provider of decentralized GPU cloud infrastructure, dedicated to delivering enterprise-grade solutions that empower the AI community.

OriginTrail Decentralized Knowledge Graph for trusted cross-organization real-time data integration in EU-funded DMaaST 7241

Trace Labs, the core developers of OriginTrail, has joined the European Union’s initiative to foster a resilient and adaptive manufacturing ecosystem through the DMaaST project. Collaborating with partners from Slovenia, Spain, Germany, Portugal, Turkey, Serbia, Belgium, Lithuania, France, Denmark, and Switzerland, the initiative will leverage the OriginTrail Decentralized Knowledge Graph (DKG) and Knowledge Assets (KA) to encapsulate all pertinent information regarding products, processes, facilities, and human expertise. This comprehensive approach will facilitate the precise mapping of data flows and knowledge interconnections, laying the groundwork for comprehensive information mapping within the manufacturing ecosystem using OriginTrail DKG. Consequently, this will ensure trustworthy cross-organizational real-time data integration.

Once more, attention has been drawn to challenges within the aeronautic and manufacturing industries following a January incident in which a Boeing 737 MAX 9 door plug blew out in the middle of an Alaska Airlines flight. If the company had established reliable cross-organizational communication, it could have prevented this incident. Such communication would enhance the value chain’s responsiveness to external and unforeseen events, as well as improve operability and production planning capacity.

Effective, transparent, and reliable data exchange are the most important points for fostering sustainability, resilience, and energy efficiency in the manufacturing industry. However, over the past years, various challenges have come to the forefront within this sector.

  • Supply Chain Disruptions: The COVID-19 pandemic highlighted existing vulnerabilities in global supply chains, leading to disruptions in the flow of materials and components. Issues such as raw material shortages, transportation bottlenecks, and labor shortages have persisted, impacting manufacturing operations worldwide.
  • Cybersecurity Risks: With the increasing digitization of manufacturing processes through technologies like the Internet of Things (IoT) and Industry 4.0, cybersecurity threats have become a significant concern. Manufacturing facilities are increasingly vulnerable to cyberattacks that can disrupt operations, steal sensitive data, or compromise product quality and safety.
  • Data Silos: Manufacturing organizations often operate with fragmented data systems, leading to isolated data silos across departments or functions. This fragmentation inhibits seamless data interoperability and hampers comprehensive insights that could drive operational efficiency and innovation.
  • Lack of Standards: The absence of standardized data formats and protocols complicates data exchange and integration efforts within and across manufacturing enterprises. Without universally accepted standards, interoperability becomes a significant challenge, impeding the flow of data between different systems and stakeholders.
  • Data Privacy Concerns: With the proliferation of data collection and sharing practices in manufacturing, ensuring data privacy and protection is paramount. Manufacturers must navigate complex regulatory landscapes, safeguarding sensitive information from unauthorized access or misuse while balancing the need for data-driven decision-making.
  • Ownership and Control: Determining ownership rights and control over manufacturing data can be contentious, especially in collaborative environments or supply chain networks. Disputes may arise regarding data ownership, usage rights, and intellectual property, complicating data sharing agreements and hindering collaborative initiatives.
  • Legacy Systems Integration: Many manufacturing facilities still rely on legacy systems that were not designed with interoperability in mind. Integrating these outdated systems with modern data platforms and technologies poses significant challenges, requiring extensive customization, retrofitting, and investments in interoperability solutions.

DMaaST aims to enhance manufacturing ecosystem resilience and adaptability by employing a Smart Manufacturing Platform comprising four layers. The data layer establishes a foundation for real-time data integration across organizations using ontologies and OriginTrail Decentralized Knowledge Graph. Following this, a two-level cognitive digital twin is deployed to model both manufacturing services production lines and value chain stages. It incorporates human expertise, data-driven algorithms, and physical modeling. An algorithm for multi-objective distributed decision support systems leverages this data to facilitate optimal production decisions. Outcomes will be communicated via user-friendly interfaces and timely scoreboards, assessing circularity, sustainability, and product traceability. Over the four-year period, DMaaST ensures scalability and innovation by providing insights for replicating and improving manufacturing processes, advancing technologies in aerospace and electronics sectors.

Trace Labs will lead the data working group to develop and validate technologies aimed at facilitating data understanding, interoperability, and secure cross-organization integration. With integration of OriginTrail DKG for the electronic and aeronautical sector, creating a new powerful knowledge base with artificial intelligence capabilities. The DKG will establish a decentralized database accessible to all participants in a manufacturing value chain, including manufacturers, suppliers, distributors, retailers, regulatory bodies, research institutes, and others. This will enhance the manufacturing ecosystem’s ability to autonomously withstand and adapt to external events.

OriginTrail DKG has been widely utilized to foster trust and transparency in enterprise knowledge exchange across various industries. Now, it is evolving to facilitate global knowledge connectivity, powering the Decentralized Retrieval Augmented Generation (dRAG) framework for more precise and inclusive AI. Given the challenges of verifying AI-generated results, OriginTrail DKG, with Knowledge Assets as its primary resource, represents a pivotal innovation in this context. It offers a robust framework for ensuring the ownership, discoverability, and verifiability of information utilized by AI systems for the manufacturing industry.

Besa Gaming: Revolutionizing the Gaming Industry with Blockchain 7310

In a world where pixels collide with possibility, the blockchain gaming industry stands as a testament to the transformative power of technology. According to Grand View Research, The global blockchain in gaming market size was valued at USD 4.83 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 68.3% from 2023 to 2030. With its unique blend of decentralized networks and digital assets, blockchain gaming has transcended traditional boundaries, offering players unparalleled opportunities for ownership, creativity, and reward. Blockchain technology has revolutionized the gaming experience for businesses and players, allowing them to use cryptocurrencies and Non-fungible Tokens (NFTs) to purchase in-game assets. At the forefront of this revolution stands Besa Gaming—a pioneering force committed to reshaping the gaming landscape with its innovative approach to blockchain integration and utilization of cryptocurrency and NFTs. As the industry continues to evolve, Besa Gaming stands poised to lead the charge, offering players an immersive gaming experience unlike any other.

The Besa Gaming Company represents a paradigm shift in the gaming industry, offering an innovative fusion of entertainment and cryptocurrency. Positioned on the blockchain, Besa Gaming provides users with an exhilarating gaming experience where they can not only enjoy captivating gameplay but also earn real money in the process. Through their Play-to-Earn (P2E) options, players have the opportunity to engage with friends and the global gaming community, all while reaping rewards for their efforts. The platform’s unique approach emphasizes rewarding token holders, ensuring that investors are incentivized to hold onto their $BESA tokens for the long term. With a mission to create accessible and enjoyable games for all, Besa Gaming is committed to establishing itself as a leader in the gaming space while providing lucrative benefits for its dedicated supporters.

Delving into Besa Gaming’s diverse portfolio of captivating games, each offering a unique and immersive experience, we find:

  1. Gold Rush Racer: Gold Rush Racer is the ultimate endless arcade racing game, offering thrilling gameplay where players navigate through highway traffic, earn coins, and upgrade their cars to dominate global leaderboards. With stunning 3D graphics and smooth car handling, it promises non-stop excitement across various environments and game modes. Gold Rush Racer is available in android and apple app stores.
  2. Crypto Bros: Crypto Bros is the blockchain adaptation of a familiar gameplay format. Featuring 15 levels and a choice of 2 characters, it also supports in-game advertising. Currently, the company is diligently working on a new update to deploy it to app stores.
  3. Bullet Storm Reloaded: Bullet Storm Reloaded is a thrilling bottle shooting game that puts your gun skills to the test. With stunning 3D graphics and a diverse selection of 24 new guns, including pistols, revolvers, and assault rifles, this game offers an immersive experience for target shooting enthusiasts. Bullet Storm Reloaded is available on Android and currently waiting for approval for IOS.
  4. Besa Crypto Slot Machine: Besa Crypto Slot Machine integrates crypto into the thrilling universe of slot gaming. It also allows the company to incorporate various blockchain & cryptocurrency logos into the game and reward top players every week. As Besa Gaming expands their partnerships, more options and rewards will be available to players and holders.

Besa Gaming’s team of developers will continuously update and improve our existing games while adding even more games and utilities to our ever-expanding ecosystem. In the pipeline, we have our Drift Fury 3D game, our Besa Online Casino, and more! Besa Gaming is the first project to offer in-game space for advertising. It utilizes the game environment to incorporate ads and information that can be constantly updated to keep it fresh and exciting.

Besa Gaming is strategically positioned to revolutionize the gaming industry with its innovative business plan.

  • NFTs: Introducing four levels of NFTs, including OG, Gold, Silver, and Normal, Besa Gaming offers exclusive benefits to NFT owners, including participation in a private group and the board of directors.
  • Advertising: Leveraging in-game advertising, Besa Gaming generates revenue to benefit all token holders by purchasing and distributing tokens, fostering community support and growth.
  • Staking: With plans for staking implementation, Besa Gaming aims to utilize a portion of the selling tax to fund staking rewards, empowering token holders and ensuring project sustainability under the guidance of the board of directors.
  • Multi-Token Expansion: Besa Gaming plans to expand its presence across different markets, enhancing the BESA brand and utilities to reach a broader audience of crypto holders while maintaining transparency and community engagement. Besa Gaming is currently available on Binance and Solana networks.

Tokenomics Overview:

Besa Gaming implements a comprehensive tokenomics to ensure the sustainability and growth of its ecosystem. With zero tax on the Solana version and a 4% buy tax on the Binance Smart Chain (BSC) version, rewards are distributed to holders, NFT owners, and liquidity providers automatically. Additionally, the liquidity is locked for one year on Solana and ten years on BSC, safeguarding the stability of the platform.

The breakdown:

Solana Version:

  • Zero tax structure.
  • Rewards distributed to Solana holders multiple times a week.
  • Exclusive airdrops and income from partnerships for Solana holders.

BSC Version:

  • 4% buy tax distributed to holders, NFT owners, and liquidity pool.
  • 6% sell tax with 3% going to all holders and 3% for team development and advertising.
  • Liquidity locked for 10 years on Pinksale.

OG NFTs:

  • Limited edition NFTs available with exclusive benefits.
  • Rewards through buy tax implemented on BSC version.
  • Owners gain access to a private group for voting on Besa-related decisions and share in 10% of the profit sent directly to them profits generated by the platform’s utilities.

In addition to that, Solana, BCS, and NFT holders also receive rewards from the company’s buyback program, which is funded by the income generated through Besa Gaming’s in-game advertising, as well as Google and Facebook ads within the games.

Empowering Change Beyond Gaming

Besa Gaming goes beyond entertainment, embracing a mission to make a positive impact on the world. Founded on principles of compassion and community, we’ve launched the Finhope foundation to uplift communities, support vital causes, and amplify efforts to find missing people. Driven by passion and collaboration, we’re more than just a gaming community—we’re a movement. Leveraging the power of technology, the company amplifies the voices of the missing, allowing them to share their stories. Their images are integrated into the games and shared across company social media platforms. Additionally, Besa Gaming provides donations to aid in the search for the missing. Visit https://www.findhopefoundation.org to learn more.

Besa Gaming Team

Besa Gaming boasts a fully transparent and doxxed team, ensuring trust and accountability at every level. Led by Founder & CEO Gabriel Navarro, the team comprises industry experts dedicated to driving innovation and excellence. With Gerardo Ramirez as the Tech Lead, Darius Oravec overseeing hardware development, and Mukesh serving as the Sr. Software Developer, Besa Gaming combines technical prowess with creative vision. Chris Burns leads the marketing efforts, while Ronnin handles social media engagement, ensuring a cohesive and dynamic approach to building and promoting the Besa Gaming brand. Together, this talented team is committed to delivering cutting-edge gaming experiences and driving Besa Gaming’s success in the industry.

Through their diverse portfolio of immersive games and promising roadmap, community friendly tokenomics, Besa Gaming not only captivates audiences but also empowers them to participate in a gaming ecosystem unlike any other. Moreover, Besa Gaming’s dedication to social impact, demonstrated through the Find Hope Foundation, underscores their broader mission to effect positive change beyond the realm of entertainment. As the company continues to expand its reach and influence, supported by a transparent and skilled team, Besa Gaming invites enthusiasts to join their movement, gaming with purpose and transforming lives one play at a time.

Besa Gaming Socials:

Website: https://www.besagaming.com
Telegram: https://t.me/GamingUmbrella
Facebook: https://bit.ly/besa-facebook
Twitter: https://bit.ly/besa-twitter
Instagram: https://bit.ly/besa-instagram
Discord: https://bit.ly/besa-discord
Tiktok: https://bit.ly/besa-tiktok

Metis’ Sequencer Mining Goes Live 8157

Last month’s launch of Phase 1 of the Metis Decentralized Sequencer upgrade established Metis as the first-ever rollup platform with a decentralized sequencer. Metis has now launched Phase 2, which introduces several enhancements aimed at improving network incentives and participation.

Among other positive changes, Phase 2 of the Decentralized Sequencer upgrade introduced the most awaited feature up to date for the Layer 2 network: Sequencer Mining.

Sequencer Mining will allow users to lock their tokens via LST providers, contributing to the network’s security. Essentially, these LST providers will interact with the Sequencer, and users will interact with the Liquid Staking providers, receiving a Liquid Staking Token that they can reuse in other DeFi dApps or just hold. Through Metis’ Community Ecosystem Governance (CEG), the community chose Artemis Finance and Enki Protocol as the two LST protocols for the Alpha Phase.

In the first year, sequencer nodes will benefit from a 20% Mining Rewards Rate (MRR), the same rate at which smart contracts compensate participants for producing blocks. Additionally, Metis Liquid Staking Blitz (LSB), supported by the Metis EDF, will provide grants to verified projects to accelerate growth. More than 220,000 METIS are committed in grants for 2024 alone to support MetisLSB and catalyze growth of LST products on Metis. Prior to the official launch of Sequencer Mining, there has been notable activity with LST-related products, including deployments by Shoebill Finance, Stablis Protocol, and participation pools on Hercules Finance.

Metis has secured important partnerships with recognized crypto institutions that will help the network achieve proper decentralization and high participation rates on the Decentralized Sequencer.

Users can deposit and start mining immediately through Artemis. ENKI will be fully launching on Mainnet soon, but users can already participate in their “Pre-Staking” program.

About Artemis

Artemis Finance is a liquid staking protocol designed exclusively for Metis’ Decentralized Sequencer. Users can stake METIS tokens on Artemis Finance and receive the liquid staking token artMETIS.

About Enki

Enki Protocol is a Metis-native liquid staking protocol leveraging dual-token architecture from protocols like Frax and Lido to implement the most battle-tested LST design to the Metis Decentralized Sequencer. Users can stake METIS via Enki and receive seMETIS, while the protocol utilizes ENKI for its governance.

About Metis

Metis is an EVM-Equivalent Ethereum Layer-2 protocol focused on bridging the gap between Web2 and Web3. Metis provides users with a decentralized and scalable easy-to-use network secured by Ethereum. Metis became the first Ethereum rollup to decentralize its sequencer with the launch of Decentralized Sequencer, which enhances network security and provides more potentially revenue-earning opportunities for users.