Metis - a layer 2 solution similar to Optimism and Arbitrum. What is Metis? Is the Metis token worth investing in? Let's find out through the article below.
What is Metis?
Metis is a Layer 2 blockchain platform utilizing Rollups model on Ethereum with features like low gas fees, fast transactions, natural storage, and high security. With Rollups model, Metis is compatible with Ethereum’s Layer 1 and utilizes Rollups as a solution to enable developers to integrate quickly, cost-effectively, and seamlessly.
Metis aims to address some of Ethereum’s major challenges such as scalability, transaction speed, and high gas fees. The project’s mission is to create an accessible, user-friendly platform for newcomers or businesses looking to adopt blockchain technology.
Additionally, Metis is developing an NFT bridge between the Andromeda Network (Metis’ main chain) and Ethereum, establishing an NFT storage, providing a framework for DAO (Decentralized Autonomous Organization) development or decentralized autonomous company (DAC), and has middleware to help developers manage smart contracts.
Metis will be listed on Binance on March 12, 2024.
What are the features of Metis?
After understanding what Metis is, let’s explore its features, including:
Decentralized Sequencer: Metis is the first Layer 2 to deploy a decentralized sequencer. A decentralized sequencer eliminates the risk of attacks on a central point and prevents errors or fraudulent behavior of sequencers, while strengthening network stability.
NFT Bridge: Metis’ NFT bridge allows the transfer of NFTs between the Ethereum and Metis blockchains with very low fees.
DAC (Decentralized Autonomous Company): Metis provides a framework for DAC – a model developed by Metis to upgrade decentralized autonomous organization (DAO). Metis’ DAC framework is designed specifically to provide solutions for governance, organizational management, and customizable incentives. Metis believes that decentralized companies will improve the DAO model by using a reputation-based system.
Polis: Polis is middleware that helps developers manage smart contracts they deploy on Metis. Additionally, regular users can view Polis as a web wallet that records transaction history.
What are the highlights of Metis?
The Metis platform allows users to create projects or businesses on Ethereum with:
Low gas fees, only a few cents compared to Ethereum or Polygon.
Fast transaction processing, especially in transferring from Layer 2 Optimistic to Ethereum.
Storing data on Metis instead of Ethereum, saving up to nearly $1M in costs.
High security, the ability to build applications simply using No-code Smart Contracts based on pre-developed Templates.
Absolute compatibility with Ethereum Virtual Machines. If a user’s project is already on Ethereum, they can deploy it to Metis almost cost-free in a short time.
What is the METIS token?
Token Key Metrics
Token Name: MetisDAO.
Ticker: METIS.
Blockchain: Ethereum.
Standard: ERC-20.
Address: 0x9e32b13ce7f2e80a01932b42553652e053d6ed8e.
Token type: Utility, Governance.
Total Supply: 4,930,000 METIS.
Circulating Supply: Updating
Token Use Case
Participate as a Sequencer: Sequencers and Rangers need to stake METIS tokens to participate in transaction verification and receive METIS as rewards.
Transaction fees: METIS tokens are also used for transaction gas fees.
Rewards: METIS tokens are used as rewards or support funds for ecosystem development on Metis.
Token Allocation
With a total supply of 4,930,000 tokens, METIS will be allocated as follows:
Transaction mining: 47.7%.
Founding team: 7%.
Private sale: 7%.
Developer community: 9%.
Airdrop: 6%.
Liquidity reserve: 6%.
Seed investment fund: 6%.
MetisLab Foundation: 4%.
Community influencers: 3%.
Advisors: 1.5%.
Planning: 1.5%.
Angel investment fund: 1%.
Liquidity IDO: 0.3%.
Token Release Schedule
Roadmap
On January 11th, Metis shared the latest information about the project’s roadmap in 2023. In 2023, the project will focus on two major themes: Multi-Layer Solution for Web3 and Eco Nodes. For more details, please refer to the article below.
In Metis’ roadmap, the project is focusing on developing Zk Proof to increase node verification and transaction speed. This could be a breakthrough in technology for Metis, especially since the project has been using Optimism technology. If Metis Andromeda successfully integrates Zk Proof, the project will become a potential competitor to other major players in the future.
In addition, Metis is heavily focused on developing its ecosystem by providing $100 million in funding for internal development projects.
However, as of the current time, there is no specific information about any further updates from the project in 2024.
Development Team
Metis has a diverse development team with experts from various fields including business, finance, technology, and product. Key members of the team include:
Elena Sinelnikova – CEO: With over 12 years of experience in technology and business, Elena has worked for leading technology companies such as IBM, Honeywell, and Deloitte.
Natalia Ameline – Genesi DAC Manager: An investor and blockchain technology advisor with extensive experience and success in finance and investment, previously worked at Goldman Sachs.
Additionally, there are many other members in the team who have contributed significantly to the development of Metis.
Investors and Partners
Metis has raised over $5 million in investment capital from renowned investors such as Block Dream Fund, DFG, Master Ventures, Parsiq, Autonomy Capital, Genblock Capital, CryptoMeria, AU21… Additionally, the project has partnered with many strategic partners in the blockchain field such as Chainlink, The Graph, Band Protocol, Biconomy, and Portis.
Project Information
After learning about what Metis is, to stay updated and participate in Metis project activities, you can access the following information channels:
Website
Twitter
Telegram
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