I decided to explore deeper @MetisDAO projects and @tethysfinance caught my attention. Stop for a minute and read this thread 👇
$tethys $metis
@tethysfinance is a DEX and lending & borrowing platform as well. Let's say that combines features from Uniswap and Tarot.
First thing that I like is advanced mode which shows you a lot more information than regular DEX.
Adding liquidity and farming is super easy too.
When you stake yours $tethys tokens, you get $xtethys. Small part of swap fees (0.03%) is distributed. The higher volume on exchange, the more tokens stakehodlers will get. For now APR is 12%.
Now see what is going on in lending market. Firstly you can deposit and leverage your LP tokens up to x5.
But when you click on the pool, just like on @TarotFinance, you can supply any of this two tokens and earn juicy yield (supply APR shows you yield on tokens). You can also deposit you LP tokens and then borrow just one token from pool.
When you are starting with Metis blockchain and don't have any $METIS tokens to do transaction Faucet comes with help.
$TETHYS is the main currency for:
- hold,
- incentivize liquidity,
- stake,
- governance.
$TETHYS token benefits from each swap made on our exchange. 0.03% fee is being used to market buy $TETHYS and reward xTETHYS holders.
Goal is to make $TETHYS sustainable: for this purpose, they need to buy back and reward or burn more than current emissions for liquidity incentivizing are.
$TETHYS was initially distributed via the IDO scheme on 17.12.2021.
Minted - 6,000,000 $TETHYS
Provided to LP - 5,000,000 $TETHYS
The first buy back - 130 METIS (~750,000 $TETHYS)
this leaves the developer wallet with 1,750,000 $TETHYS
18.12.2021
1 year locking - 1,500,000 $TETHYS
100% of developer's liquidity buried (locked forever)
Every second, 0.15 $TETHYS are minted, doubling the supply in a year. A 10% emission drop happens each year. This is subject to change as the project matures and the ecosystem evolves.
Delivering is going alrght.
So, this is interesting DEFI platform. I'm looking forword to see how they will grow. In my opinion this will be important player in Metis ecosystem.
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