I have written quite a bit about Hermes and Tethys in the past but if you are out of the loop, here is a simple breakdown. They are the leading DeFi platforms on Metis, offering a wide range of financial tools. You can use them for lending, earning bribes from other projects, LP farming and more.
As it turns out, these were just the tip of the iceberg because the new updates are going to cause an earthquake.
Hermes v2 Rundown
Yesterday Hermes announced the details of their v2 plans and it couldn't get bigger than this. Not only will the dapp go multichain but we will have the ability to see buying and selling rights to yield in action.
This is a completely new marketplace and while we don't have much info about it we can guess where they are going with it. You will have the ability to sell your future yield for a fixed price. Instead of waiting for the yield to accumulate over the course of a year you can sell it to someone with more patience.
I am assuming that these sales will be conducted at about 30-40% discount based on the token price on the day of the sale but anyone looking for quick cash on hand has an extra option thanks to DeFi.
Tethys Builds A Perpetual DEX
Just a day before the Hermes announcement, Tethys shared the news about their upcoming product and general protocol changes.
So far Tethys has been in the shadows even though it had a lot to offer as a platform. I am more than sure that this new perpetual DEX is going to change this forever. They are promising zero slippage and up to 50x leverage but if you are an investor there are some exciting news for you as well. $Tethys staking will earn protocol fees generated by the perpetual trading platform.
If you ever wanted to be a partial owner of a DEX on Metis this is your chance.
When To Buy?
As always, this is not investment advice. I have no info on when these updates will go live but based on market caps alone you have a lot of time to think about it.
Tethys is currently sitting at about $2M MC while Hermes has a slightly higher FDV of almost $6M. Even though both updates are huge I like the one from Tethys the most because it will be the only perpetual DEX on Metis. The fee distribution is just an added bonus in my book.
DYOR and make sure that you are aware of all the risks that are involved.