MetisDAO

Metis (METIS) is a Layer 2 scaling solution for Ethereum, designed to enhance the blockchain’s scalability, speed, and cost-effectiveness. It employs an Optimistic Rollup framework to facilitate fast and cheap transactions while maintaining security and decentralization. Metis aims to simplify the development and management of decentralized applications (dApps), tokens, and various crypto projects by providing a scalable and user-friendly platform. The METIS token serves multiple roles within its ecosystem, including governance, staking, and payment for transaction fees.

The tokenomics of the Metis (METIS) token are designed to support its role as a Layer 2 scaling solution on Ethereum, with a total supply capped at 10,000,000 tokens. Approximately 45.7% of this supply is currently in circulation. The METIS token is used for various functions within the ecosystem, including paying transaction fees, staking for governance, and incentivizing network participation. A unique feature of its tokenomics is that 30% of the gas fees paid on transactions are returned to the protocols built on the Metis network, encouraging active development and contribution to the ecosystem. Additionally, the token has a “mintable” function, allowing the potential issuance of additional tokens beyond the initial supply.

As of today #{today’s date}, the price of MetisDAO is ₹5,492.96 INR or 62.42 USD, with a 24-hour trading volume of 39908276.96 USD. The market capitalization for MetisDAO is 386276377.32USD. The circulating supply is 6101334.34 MetisDAO, with the total supply also being 10000000 MetisDAO.

• Scalability:

• Metis enhances Ethereum’s scalability, enabling faster and cheaper transactions.

• Decentralization:

• Maintains Ethereum’s decentralized nature while improving its efficiency.

• Utility:

• METIS token has multiple uses within the ecosystem, including governance, staking, and transaction fees.

• Developer Friendly:

• Offers tools and infrastructure for easy development and deployment of apps.

• Community and Ecosystem:

• Strong community support and a growing ecosystem of projects and partnerships.

• Competition:

• Faces stiff competition from other Layer 2 solutions and Ethereum scaling projects.

• Complexity:

• The technical complexity of Layer 2 solutions can be a barrier to adoption for some users.

• Dependence on Ethereum:

• As a Layer 2 solution, its success is closely tied to the Ethereum blockchain.

• Market Volatility:

• Like all cryptocurrencies, METIS is subject to market volatility.

• Regulatory Uncertainty:

• Potential regulatory changes could impact the operation and value of METIS.

• High Scalability Potential:

• Metis addresses Ethereum’s scalability issues, promising faster and cheaper transactions.

• Growing Ecosystem:

• The Metis ecosystem is rapidly expanding, with increasing adoption by developers and projects.

• Innovative Technology:

• Utilizes Optimistic Rollup technology, positioning it at the forefront of Layer 2 solutions.

• Strong Team and Community:

• Backed by a knowledgeable team and a supportive community, enhancing its development and adoption.

• Utility and Governance:

• Holding METIS tokens offers utility within the ecosystem and a say in governance decisions.

• Optimistic Rollup Framework:

• Offers a unique blend of speed, cost-effectiveness, and security for Ethereum transactions.

• Decentralized Autonomous Companies (DACs):

• Facilitates the creation and management of DACs, promoting decentralized business models.

• Comprehensive Developer Support:

• Provides extensive tools and resources for developers, encouraging innovation and growth within the ecosystem.

Metis is tackling Ethereum’s scalability trilemma by providing a solution that enhances transaction speed and reduces costs without compromising on security or decentralization. It aims to make blockchain technology more accessible and practical for real-world applications and decentralized businesses.

Metis was co-founded by Elena Sinelnikova, who brings a wealth of experience in blockchain education and community building. She previously founded CryptoChicks, a non-profit blockchain educational hub. The team comprises experts with diverse backgrounds in blockchain technology, software development, and business management committed to driving the project’s vision forward.

The ICO for METIS took place on May 13, 2021, with an offering price of $5 per token. A total of 30,000 tokens were offered during this initial sale, raising significant funds for the project’s development.

• Layer 2 Complexity:

• The technical complexity of Layer 2 solutions may deter adoption and impact the token’s value.

• Ethereum Dependency:

• METIS’s performance is closely linked to Ethereum’s success and challenges.

• Competitive Market:

• The crowded Layer 2 space may limit Metis’s growth and adoption.

• Regulatory Risks:

• Changes in cryptocurrency regulations could adversely affect Metis.

• Market Volatility:

• Cryptocurrency markets are highly volatile, posing a risk to investment value.

The whitepaper of Metis (METIS) token provides a comprehensive overview of the project’s technical and strategic framework aimed at enhancing the scalability, speed, and efficiency of decentralized applications (dApps) on the Ethereum network. Metis leverages an Optimistic Rollup framework, which is a Layer 2 scaling solution that allows for off-chain transaction processing with the security guarantees of the Ethereum mainnet. This approach significantly reduces the transaction costs and increases the throughput of the network, addressing the scalability issues that currently plague Ethereum.

One of the key innovations introduced by Metis is the Decentralized Autonomous Company (DAC) framework, which is an evolution of the Decentralized Autonomous Organization (DAO) concept. The DAC framework is designed to improve governance, management, and incentive alignment within decentralized projects. It requires members to hold and stake the project’s token to participate, which filters out less committed participants and enhances the reputation system within the ecosystem. This staking mechanism also plays a role in the network’s security, as it is used to incentivize validators, known as Rangers, to act honestly when validating transactions.

The whitepaper also details the tokenomics of the METIS token, which is designed to ensure the sustainability and growth of the ecosystem. The total supply of METIS tokens is capped at 10,000,000, with a portion of the supply allocated to the team, advisors, investors, and community development. The token serves multiple functions within the Metis ecosystem, including paying transaction fees, staking for governance and security, and incentivizing development through programs such as Builder Mining. The whitepaper emphasizes the importance of a balanced token distribution and a fair emission schedule to prevent market manipulation and ensure long-term viability.

In summary, the Metis whitepaper presents a detailed plan for a Layer 2 scaling solution that not only improves transaction efficiency on the Ethereum network but also introduces a novel governance structure through the DAC framework. The METIS token is central to this ecosystem, providing the necessary incentives and mechanisms to maintain security, encourage participation, and foster growth within the Metis platform. The whitepaper reflects a thoughtful approach to addressing the challenges of scalability and governance in the blockchain space, positioning Metis as a potential key player in the evolution of decentralized infrastructure.