Mid-Launch Recap, Genesis Pool Upgrades & TORCH Sale Info

Our goal at Hercules is to become the premier liquidity hub and decentralized exchange of the Metis ecosystem. We are proud to have begun our journey, having launched our DEX on Metis L2 last week with so many incredible partners.

Barely a week after launching, Hercules has already become the deepest METIS Liquidity Pair, with over $3.5M in METIS/m.USDC liquidity and $9M+ of total TVL. As Metis continues to grow, so must liquidity on Hercules and the entire chain. Through our partnerships, Hercules’ sustainable emissions model is poised to fuel this on-chain liquidity growth, attracting deep liquidity for the METIS token itself and pulling more pairs and stablecoins to the network.

TORCH Sale Information

Our TORCH sale is an integral part of our strategy to attract new TVL to Metis, align holder/protocol incentives sustainably, and run a fair launch process. As such, we have raised 1,000,000 m.USDC outside of on-chain liquidity pools through partnerships. This approach avoided volatility while pulling TVL directly onto Metis. Our Alpha Pools and Genesis Pools launches attracted further TVL and new token listings.

We are now at the point where we can support further deepening on-chain liquidity with our public sale. Therefore, we are adjusting our TORCH sale to be able to achieve the following goals:

1. Increase TORCH, xTORCH, and xMETIS rewards for Genesis Pool depositors.
2. Decrease TORCH circulating supply.
3. For users, be they protocols or individuals, the best way to establish a large position in TORCH/xTORCH is through long-term farming and providing the liquidity Metis needs.

To accomplish the above goals, we are making the following adjustments to our TORCH sale:

1. The TORCH Public Sale on our Launchpad will accept METIS instead of m.USDC.
2. On launch, the TORCH LP will be TORCH/METIS instead of TORCH/m.USDC.
3. The METIS raised by the Public Sale will be directed toward the TORCH/METIS LP (85%) and boosting xMETIS rewards (15%).
4. We will lower TORCH circulating supply and push an additional 1.5% of TORCH supply towards Genesis Pools and liquidity pools by repurposing the initial 4.5% of TORCH Supply set aside for a CEX listing.
5. Our raise will now be a total of $2M. As we’ve already raised $1M, an additional $1M worth of METIS will be raised on the Launchpad.

It will take some time in order for us to implement these changes. Our Public Sale will now kick off on April 18 and run over the following few days on our Launchpad.

Genesis Pools Rewards Upgrade

As described above, in order to bootstrap liquidity, we will focus heavily on incentivizing our ongoing Genesis Pools and building liquidity in our main pairs. Restructuring our sale terms allows us to add more xTORCH rewards to the current Genesis Pools. We will also be adding xMETIS rewards to these LPs, further boosting the farming APRs. Once the deposits for Genesis Pools close, we will not be further incentivizing our LPs until after the TORCH TGE, so get your genesis deposits in while you can!

Remember: Our Genesis Pools will still close to new deposits on April 7, and these remain the best opportunity for anyone looking to build a TORCH/xTORCH position.

Key Dates:

April 7th Genesis Pools close:

• This is the last chance to farm xTORCH emissions in this round of pools

April 9th xTORCH emissions become claimable

April 18th TORCH Public Sale

• At 3PM UTC go to https://hercules.exchange and get your hands on TORCH

April 20th TORCH Public Sale Close

• Sale ends when its sold out or 3PM UTC

April 22 Farms Open

• Go to https://hercules.exchange to join the TORCH/METIS pool and begin farming

Stay tuned for more details soon!