Ethereum Layer 2 Metis Announced $100M Ecosystem Fund and to Launch Decentralized Sequencers

Ethereum Layer 2 Metis announced a $100 million fund to accelerate the growth of its ecosystem. The Metis Ecosystem Development fund will allocate 4.6 million METIS tokens to fund sequencer mining, retroactive funding, deployment of new projects and other endeavors.

Metis expects to become the first optimistic rollup that decentralize its sequencer early next year. Sequencers are responsible for bundling up transactions from users and passes them along to the Ethereum mainnet.

The timing of distribution of the newly announced ecosystem funds will come a week after the Metis decentralized sequencer is supposed to go live.