Hercules wants YOU to add Liquidity
…to the New Partner Genesis Pools + New Core Pools!
Hercules welcomes new partners onto our protocol with Round Two of the Genesis Pools! Let’s meet our new collaborators and what they bring to the Metis ecosystem.
Genesis Pools are long-term liquidity pools with specially boosted rewards. Round Two pools are open right now but they close to depositors on April 14. That means that anyone who has deposited in those pools by then can earn these boosted rewards for up to four months as long as they stay in the pool. As people leave these pools, the APRs for those remaining generally increase.
TL;DR
We’ve opened two new Hercules Core Genesis Pools (Round Two):
- METIS-USDC (Core v2)
- METIS-USDT (Core v3)
The Genesis Pools (Round Two) Partner Pools are as follows:
- alUSD-USDC
- alUSD-alETH
- alETH-ETH
- ATH-METIS
- BARSIK-METIS
- ENKI-METIS
- vMETIS-METIS
- gVEC-Metis
- WAGMI-WMETIS
You can learn a lot more about Genesis Pools in our previous article. Now let’s meet our new frens.
Alchemix
Alchemix self-repaying loans allow you to leverage a range of tokens without risk of liquidation. By borrowing a synthetic version of the asset you deposit you using Alchemix you avoid the risk of liquidation. Alchemix is the first same-asset loan product in DeFi. Using your collateral, Alchemix earns yield on your behalf to pay off your loan “automagically!”
Hercules will host the following Alchemix pairs. The prefix “al” denotes the synthetized asset.
- alUSD-USDC
- alUSD-alETH
- alETH-ETH
Athena
Athena allows users to deposit stablecoins and earn boosted yield from the Hummus Exchange platform on Metis, without having to stake their HUM tokens and worry about accruing veHUM. Depositors are able to take advantage of its ample HUM supply and utilize that for a boosted yield in HUM. You can also provide liquidity to Athena and receive rewards of its governance and revenue-sharing token, ATH. Athena also enables you to turn your HUM into productive assets by allowing you to convert them to xHUM, which can then be staked to earn a share of Athena’s performance fees. Athena utilizes the tokens converted on the platform to stake on Hummus, accruing veHUM into perpetuity since Athena will never sell. Athen’s veHUM balance is then used to boost stablecoin/LP yields on Athena, generating revenue for our protocol.
Hercules will host the following Athena pair.
- ATH-METIS
Barsik
Do you like memes? Do you like cats? Then meet the noblest of cats!
“Barsik” is the name of the cat of our beloved Metis founder, Natalia Ameline, who also happens to be the mother of Vitalik Buterin, the creator of Ethereum. Quite the brain trust in that household!
Hercules will host the following Barsik pair.
- BARSIK-METIS
ENKI Protocol
ENKI is an innovative protocol designed to simplify and democratize participation in the Metis Sequencer Node ecosystem. It empowers regular investors to earn rewards by staking Metis Sequencer Nodes and enhances the composability of the Metis ecosystem. ENKI operates through three primary components: eMetis (a stablecoin), seMetis (which accrues staking yield), and the ENKI Metis Minter (for Metis to eMetis exchange). Users can stake eMetis to earn seMetis and participate in the Metis Sequencer Node ecosystem, simplifying the staking process and enhancing rewards. ENKI addresses the complexities and limitations of traditional Metis Sequencer Node staking, offering a user-friendly platform for earning rewards. It opens opportunities for regular users to participate, regardless of their Metis holdings, and contributes to the growth and composability of the Metis ecosystem.
- ENKI-METIS
Monkex Coffee Shop Club
Monkex Coffee Shop Club have been hanging around Metis for a while! They are a Decentralized Autonomous Community (DAC) empowered by the Metis network. Their treasury and governance are similarly decentrazlied, reflecting Metis’ ethos. Monkex offers a collection of 5,000 unique NFTs encoded on the blockchain with MONKEX as their project’s token.
Hercules will host the following Monkex pair.
- MONKEX-WETH
Vector Reserve
Vector Reserve is the issuer of vETH, DeFi’s first liquid restaking liquidity position derivative (LPD). Powered by EigenLayer and Superfluid Staking. Vector harnesses cutting-edge capabilities of EigenLayer, delivering on-chain yield via the first Superfluid Staked LPD: vETH. Vector Reserve operates on a blend of innovative strategies and sustainable practices to establish a stable, growth-oriented reserve currency.
Yes, Vector is bringing its technology to Metis!
vMETIS generates yield through utilising EigenLayer’s Superfluid Staking, meaning vMETIS allows for the restaking of METIS LPs, amplifying yield opportunities beyond traditional staking methods. The gVEC governance token continuously accrues backing over time whilst carefully managing a balanced and controlled supply.
Hercules will host the following Vector pairs:
- vMETIS-METIS
- gVEC-METIS
WAGMI Protocol
The WAGMI protocol is a limited TVL decentralized exchange with advanced liquidity provision strategies and GMI mechanics.
WAGMI employs advanced concentrated liquidity strategies for liquidity provision to optimize returns for users. The protocol continuously monitors market conditions and employs an auto-rebalance mechanism to adjust strategy settings, aiming to ensure higher rewards at all times, irrespective of market shifts.
One of WAGMI’s products, Sorbetto Fragola, is designed specifically for clAMMs (of which Hercules is one). By optimizing the price range based on historical volatility, Sorbetto Fragola ensures that users’ funds are always in the most traded utilization zone, maximizing trading fee returns and profitability. The evolved version of Sorbetto Fragola is used in WAGMI.
By leveraging the omnilayer technology, the protocol can interact with multiple blockchain networks, ensuring compatibility with a wide range of DeFi applications and assets. This cross-chain functionality not only broadens the scope of the WAGMI protocol’s services but also promotes a more inclusive and connected DeFi ecosystem. The platform thereby enables users to create and execute complex strategies with ease. This modular approach allows for the seamless integration of new DeFi products and services, fostering innovation and growth within the ecosystem.
Hercules will host the following WAGMI pair:
- WAGMI-METIS
How Do I Deposit Into A Genesis Pool?
Let’s take a look at how a user would deposit into one of our Genesis Pools. We’ll use JEWEL from DeFi Kingdoms as an example. You can find the original thread on X/Twitter.
Step 1: Go to https://hercules.exchange and click “Launch App”
Step 2: Connect Wallet It will open a popup window asking which wallet you would like to connect with
Step 3: Swap into an equal amount (by value!) of the two tokens in the pool you wish to deposit into. This example uses JEWEL and METIS.
Step 4: Now we create the LP — go to “V3 Add Liquidity” To get the most yield, choose Auto. (Note: you cannot get into a v3 Genesis/Nitro Pool with a “manual” mode position.) The pair will be roughly 50/50, but not exact — its okay! There will be approvals that need to be made the first time you deposit into any pool.
Step 5: Boost your LP with a Nitro Pool which will earn xTORCH. Toggle “On” Nitro auto-staking and select the appropriate pool. (Optional: Locking into a Nitro Pool is not required to LP, but if you do you will get up to 2x boosted rewards for the maximum lock of 6 months. You can lock for any amount of time, but the multiplier won’t increase any more after 6 months.)
You’re done!
Material presented above is taken and derived from our partners’ online media. Always remember to do your own due diligence.
About Hercules
With a composable, efficient liquidity protocol featuring seamless swaps, staking, real yield, and a launchpad, Hercules aims to become the native liquidity layer for the Metis Andromeda network. Its flexible features are tailored to protocol-owned liquidity, allowing dynamic fees and customizable incentives packaged in a user-friendly interface.
