What is Metis? Metis is a layer 2 solution built on Ethereum using Optimistic Rollup technology. Metis offers several solutions to solve major challenges users face with Ethereum Mainet such as: transaction speed, costs and scalability. So what’s different about Metis? let’s Weakhand let’s find out.
To understand more about Metis, please read the articles below:
- What is Layer 2? Complete Guide to Layer 2 Solutions
- What is Optimistic Rollup? Overview of Optimistic Rollup
- What is Arbitrum (ARB)? Arbitrum Cryptocurrency Overview
What is Metis?
Overview of Metis
Metis is a Layer 2 platform on Ethereum using Rollup technology provides infrastructure for simple and fast smart contract deployment in a network built and supported by the MetisLab Foundation. Metis was born with features such as ease of use, great scalability, low cost, inheriting the security of Ethereum and supporting dApps built on the ecosystem.
Metis helps users move Assets easily at low cost, fast speed, and securely between layer 1 to layer 2, between layer 2 to layer 1 and between layer 2 and layer 2 through Metis Bridge.
Metis NFT Bridge provides a simple, secure and fast method for moving NFTs between L1 and L2 or L2 to L1.
Metis integrates its own DAO model, DAC (Decentralized Autonomous Company). This helps developers, communities easily build dApps, GameFi, NFT, Metavese, SocialFi, DEX, …
Metis cooperates with leading Oracle providers: DIA, Chainlink, Witnet, API3 in the ecosystem.
Outstanding features of Metis
Metis solves Ethereum’s biggest challenges: Decentralization, simplicity, speed, storage, scalability, security, savings.
- Ability of extension: Transaction speeds and transaction fees on Metis are 10 – 100 times faster than on Ethereum.
- Security: As a Layer 2 of Ethereum, Metis enjoys the security and decentralization of Ethereum.
- EVM: Metis uses MVM virtual machines that are highly compatible with EVM to help developers on Ethereum or EVM Blockchain easily move and develop their products on Metis.
- Product development: Metis provides open source solutions that help developers easily build dApps and Web3 ecosystems.
- Metis Bridge: Allows users to easily move crypto assets from L1 to L2 with Low gas fees, transaction speed and safety.
- Metis NFT Bridge: Help users move NFTs between L1 and L2 and vice versa.
Metis products
Metis’s infrastructure consists of specific products, presented in three layers:
- Smart Layer 2: This is solid, scalable, cheap, and decentralized technical infrastructure to serve as the transaction layer, secure enough, smart enough to support spikes in user traffic, and powerful enough to run and maintain DApps and the Web3 ecosystem.
- Reputation Power (RP): The most basic and decentralized identity infrastructure in the Web3 ecosystem, to prove each member’s reputation, trustworthiness, level of participation across multiple chains/ecosystems/metadata and their social contributions to specific fields.
- Decentralized Autonomous Company (DAC): This is Metis’s own DAO model that empowers users, open for community members to build and co-govern.
Development Roadmap
- Q3-Q4/2022: Decentralization and fund development MetisDAO includes 2 governance structures: Commons and Eco Nodes; Launched Polis, Web2 to Web3 Gateway; Deploy Power Reputation (RP) System; DAC v2.0; Metis Layer 2 infrastructure enhancements; Web3 and Genesi DAC sponsorship; …
- Q1-Q2/2023: Decentralization, decentralization (Decentralization); platform upgrades; Native Infrastructure; Build a Hybrid Rollup summary,…
Core Team
Elena Sinelnikova – Co-founder & DC
- Elena.S has a Master’s degree in computer science National Research University of Electronic Technology (MIET), Moscow.
- Elena.S has experienced the following job positions: Head of eSolutionsGroup software development team; Harness All Possibilities (HAP) Board Member; Co-Founder and CEO of Metis project; Founder and CEO of non-profit educational organization CryptoChicks; Co-founder and DC MetisDAO Foundation.
- Elena.S has participated in projects: Participated in responsive design of EPS website; Internet application Crime map; Responsive design of Edmonton Police’s external website.
In addition, there are other members in the Core Team: Kevin.L – Co-founder & Product Lead; Yuan.S – Co-Founder & Nuvo Co-Founder and CTO; Caria.W – Co-Founder and CEO; Pavel.S – DAC Portal Co-Founder and CEO; Chelsea.K – Co-Founder and COO; … The reference here
Investor
Metis has raised more than $5M from investors: Block Dream Fund, DFG, Master Ventures, Parsiq, Autonomy Capital, Genblock Capital, CryptoMeria, AU21…
Partner
Metis has relationships with many major partners: ASSX, Casper, Opolis, Octopus Network, …
Tokenomics
Information about METIS token
- Token name: Metis Token
- Tiker: METIS
- Blockchain: Ethereum
- Contract: 0x9e32b13ce7f2e80a01932b42553652e053d6ed8e
- Total Supply: 10,000,000
METIS Token Allocation
METIS Token Release
All project tokens will be paid in installments over 34 months
METIS Token Use Case
METIS tokens are used:
- Utility tokens
- Staking METIS to receive METIS
- Vote DAO
METIS Token Exchange
Currently METIS tokens are traded on major exchanges: Kucoin, CoinBase, UniSwap, Houbi, Gate, MEXC, …
Summary
Metis is an EVM-compatible Ethereum Layer-2 focused on bridging the gap between Web2 and Web3. Metis provides users with an easy-to-use network that is secure, decentralized, and scalable. By combining a powerful Layer 2 with on-chain credentials and a Decentralized Autonomous Company (DAC), Metis is building the perfect ecosystem to host open, decentralized, and trustless collaboration , secured by Ethereum.
Hopefully this article provides readers with useful information about the Metis project and the METIS token.