After the token price has experienced an increase of up to 600%, the Metis ecosystem, an L2 project that has become popular due to the concept of decentralized sorters, is still attracting attention.

According to the latest official announcement, the Metis community test event started in mid-January. Stimulated by the anticipation of airdrops, in less than three weeks, more than 100,000 people have sprinted for more than 300 million points in the event, accumulating Interactions exceeded 3 million.

Equally worthy of attention as the Metis project itself are the ecological projects deployed on Metis. Rough statistics show that the token prices of several mainstream ecological projects that have issued coins on Metis have basically increased by 5 to 10 times during the rise of Metis. Therefore, new projects that have not yet issued coins are worthy of attention.

Among them, Enki, the first LSD protocol on Metis, has received more traffic attention. It is about to issue its token and will usher in a key development stage in 2024.

Enki’s Genesis Airdrop Plan

According to Enki’s official introduction, the total number of tokens (ENKI) issued by Enki is 10 million, and the initial distribution is as follows:

• 10% - Genesis airdrop plan (including market impact, partners and early community supporters);

• 90% - will be distributed in various forms in the future, more details will be announced in the Litepaper to be announced soon.

In order to give full play to the functional role of ENKI tokens in the product ecosystem, increase the participation of early supporters, and provide corresponding incentives, the Enki team will launch a genesis airdrop called Fantasy in early February (the specific date is to be determined) Plan to release 1 million ENKI (10%) as a reward for this plan.

The entire Genesis airdrop plan will be divided into two phases.

The first phase is the test network phase, and the number of tokens allocated is 250,000, as follows:

• 25,000 - Community Engagement and Trivia Mission

• 25,000——Participate in testnet activities

• 100,000 - Testnet Bug Bounty and Marketing Cooperation

• 100,000——Airdrop from loyal community partners

The second stage is the official network stage, and the number of distributed tokens is 750,000, as follows:

• 200,000 - METIS staking rewards

• 400,000——Invitation rewards

• 150,000 - Liquidity Reward

According to Enkis official website, there is no team reservation for the issuance of ENKI, and there is no private placement share. The token release in each stage is a fair launch. Therefore, for users who want to obtain Alpha benefits from Enki, this genesis airdrop plan is worthy of attention.

The Fantasy airdrop plan will continue from the test network until Enki is officially deployed to the Metis main network. Although many details have not been announced yet, it can still be seen that in this process,Interacting more with the Enki protocol is the most direct way to obtain the airdrop tokens. If you still have the energy to spare, you can stay active in the community and increase the weight in future airdrop reward distributions.

What is Enki?

The most important narrative of Metis is its decentralized PoS sorting pool, which is a pool composed of sorter nodes, which are formed by staking METIS. Through this multi-sorter form, Metis makes the entire network more decentralized and stable, and gives users the opportunity to enjoy the benefits of the sorter.

However, it is not easy for users to become a sorter node. One of the most basic conditions is to pledge 20,000 METIS tokens. This is a threshold that is difficult for ordinary users to reach. The election of nodes also requires whitelist review, so for ordinary users , Enki is the best way for them to participate in the sequencer node.

Enki is an LSD protocol on Metis and an officially recognized sequencer node. The purpose is to allow ordinary users to easily and conveniently participate in staking of sequencer nodes and obtain the benefits brought by staking.

Enki can be regarded as a sorter node for user crowdfunding. Enki collects users METIS pledges into the node, and issues pledge rewards and node income to users based on the pledge weight. There is no threshold for this method. Regardless of whether you pledge 1 METIS or 10,000 METIS, as long as you participate, you can obtain corresponding benefits.

How do users earn money through Enki?

For users, if they want to participate in the sequencer node, they do not need to understand complex technical principles and operations. They only need to perform simple staking operations through Enki to obtain passive income.

After the user enters Enki, the first step is to pledge the METIS token and convert it into eMETIS (this corresponds to the pledge reward part of the airdrop plan), and then pledge eMETIS again and convert it into seMETIS. After obtaining seMETIS, the user can quietly Just waiting for the benefits.

According to Enkis rules, when users receive income (eMETIS), 70% of it will be credited immediately, and the remaining 30% will be transferred to the eMetis Vesting contract. If the user wants to continue to receive this part of the income, they need to pledge the corresponding amount. ENKI token, this is another utility of ENKI token besides governance - revenue amplifier.

In addition, after users convert METIS into eMETIS, in addition to the above operations, they can also pair it with METIS tokens and conduct liquidity mining in Metis ecological DEXs such as Netswap (this corresponds to the liquidity reward part of the airdrop plan).

That is to say, Enki has designed two revenue paths for the eMETIS obtained by staking users:

(1) Stake again to obtain seMETIS and receive the pledge (node) income of seMETIS

(2) Provide liquidity for the eMETIS/METIS trading pair and collect LP income

The design of Enki refers to the dual-currency model of another LSD project, Frax Fiannce. Theoretically, users who choose secondary staking and choose to provide liquidity will gradually form a dynamic arbitrage balance due to the difference in yields, thereby combining two different The selected yields remain within the same range.

In this way, it can not only ensure that Enki, the sorter node, has sufficient pledge volume, but also meet the liquidity needs of eMETIS in the market, give full play to the flexibility and composability of DeFi Lego, and provide the possibility of compatibility with more protocols in the ecosystem. .

The importance of Enki to Metis ecology

The decentralized sorter is the core component of Metis. It is foreseeable that the next main work of Metis (including ongoing community testing) will be centered around this, and the way to implement a decentralized sorter pool is Allow users to become sequencer nodes by staking METIS and jointly maintain the operation of the Metis network.

The importance of Enki facing the Metis ecology here can be expressed as a positive flywheel.

Enki lowers the threshold for users to participate in sequencer nodes, so it can attract more users to participate in staking; as more users participate in staking, METIS tokens are locked in large quantities. From a supply and demand perspective, the reduction in market supply will bring about a decline in token prices. Rising; the rising token price means an increase in Enkis staking returns, and more investors may lock their tokens for a long period of time to obtain stable returns, further reducing the liquid supply in the market, thus achieving a positive flywheel of value.

For Enki, the more users participating in the protocol, the higher the demand (revenue amplifier) ​​for its token ENKI, and the price will naturally rise.

Therefore, Metis and Enki have a symbiotic relationship. The Metis official Twitter also recently issued a tweet stating that LSD will be the cornerstone of the Metis DeFi ecosystem.

In addition, judging from the news currently released by Enki (the liquidity support and mining incentive information has not been released), for a long time in the future, these 1 million (10%) of the Genesis Airdrop Plan will be the entire market circulation If users want to obtain ENKI tokens, they can only obtain them through the Genesis Plan.

This restrictive issuance strategy will further intensify the market demand for ENKI tokens. With the development of the Enki ecosystem and the expansion of the user base, the demand for ENKI tokens is expected to continue to increase, which will help the price of ENKI.

join in"Fantasy"the benefits of

Joining “Fantasy” provides a unique and exclusive opportunity for users to become an integral part of the Enki ecosystem ahead of the official Enki mainnet launch.

The ENKI token is more than just a digital asset; it plays a vital role in the staking mechanism, acting as a “reward booster” that enables users to unlock an additional 30% of sequencer rewards. This is contingent on users staking a sufficient amount of ENKI tokens, highlighting the token’s critical role and sustainable utility in the platform.

Given the strategic importance of the ENKI token, the Enki team has adopted a distribution approach that ensures it is aligned with the long-term stability and growth of the ecosystem. Therefore, before the protocol’s official mainnet is launched, participating in “Fantasy” is the only way to obtain ENKI tokens.

To maximize the advantage for “Fantasy” participants, Enki established a 1:1 staking ratio on the testnet. However, in recognition of the community’s commitment and early support, the team plans to significantly increase this ratio when transitioning to mainnet, thereby amplifying the benefits for early adopters and ensuring they get the most value from participating in Fantasy.