Relay Chain Joins the Metis Marathon as a Bridge
Metis is proud to announce that Relaychain will be joining the Metis marathon. Building upon its comprehensive DEX ecosystem, Metis official bridging partner, RelayChain, launches its v2 bridge with increased security measures, intuitive UI, and enhanced staking rewards. The Metis Foundation has committed 3,600 METIS tokens to bolster RelayChain as its dedicated bridging partner. RelayChain currently bridges wBTC and soon multiple stablecoins from Optimism to Metis.
Launched in February, ’21, RelayChain bridges assets across 12 leading EVMs, with over $38M in TVL. Their v2 bridge builds on that functionality to provide a faster, lower cost, and more secure bridge coupled with better UI and staking rewards unparalleled in an industry that has seen it’s fair share of security concerns in 2022. RelayChain’s bridge provides seamless & secure cross-chain transactions in stablecoins, wrapped tokens and native tokens amongst the bleeding-edge crypto tech in market today and future-proof for tomorrow. The Relay Token, as a utility, can be staked on the bridge to earn yield returns itself and generate veRelay token to amplify returns on the bridge as well. Pick up your Relay token at Metis’ partner Netswap.
- Seamless and secure cross-chain bridging
- Access to low-cost arbitrage, liquidity pools, and DeFi on Metis
- Future staking rewards as the bridge becomes revenue positive with increased transaction volume
- veRelay token generation for amplification of liquidity provision rewards
Staked Relay can be used to generate earned yield for liquidity providers as well as number of other reward features. With the new v2 bridge, stablecoin and major token (ETH, wBTC) liquidity will be community provided. Users will deposit their tokens to the bridge and earn yield on those deposits. Users will also be able to stake RELAY to accumulate veRELAY. The veRELAY will boost the earned yield on liquidity deposits.
The RELAY token, at the center of the project, holds multiple utilities that will reward users: Earn veRELAY, stake to earn a portion of bridge revenues, buybacks/burns, and also utility within the Battle of the Blockchains game.
RelayChain is a Bridging as a Service (BaaS) provider to efficiently remove the boundaries between blockchains as a cross-chain bridging protocol. In the v2 iteration, the bridge will be able to quickly integrate non-EVM blockchains, stablecoin staking, native & wrapped coin staking, and cross-chain liquidity provision. The v2 architecture will merge the functionality of web2 and web3, providing a seamless user experience for crypto-natives, enthusiasts, and novices alike.
About the Metis Marathon
MetisDAO Foundation has announced the Metis Marathon, a 26-week long builder incentive program that aims to incentivize a fierce development of the Metis ecosystem. Besides introducing some of the Top DeFi protocols, MetisDAO Foundation aims to help small and large scale projects to shine their light: achieve their full potential and fit their product, synergically, into the Metis Ecosystem.