What is METIS?
Metis is a Layer 2 scalability solution for Ethereum, launched in 2021 with the goal of building more robust and value-creating DAOs (Decentralized Autonomous Organizations). Its vision is to evolve DAOs into DACs (Decentralized Autonomous Companies) – fully functional companies that operate like existing companies, but in a decentralized manner. Unlike traditional DAOs that focus mainly on governance and voting, Metis’ DACs can perform functions such as payroll, project management, HR, and communications, aiming for greater scalability and decentralization through the use of optimistic rollups.
Platform and technology
Metis presents itself as a permissionless Layer 2 network, powering the next generation of decentralized applications (dApps). Its design allows developers to create and manage dApps existing, in addition to supporting those who want to build and launch new dApps. By integrating the Decentralized Autonomous Company (DAC) framework into its Layer 2 infrastructure, Metis facilitates the transition of developers and businesses from Web 2.0 to Web 3.0
Metis uses an architecture based on optimistic rollups, differentiating itself from other Layer 2 solutions that use zk-rollups (zero-knowledge). Optimistic rollups adopt a more “optimistic” approach to transaction validation, using fraud proofs as the main method of arbitration. This allows for higher transaction throughput, as nodes do not need to build validity proofs for each block, but only in case of fraudulent activity.
The Metis protocol is designed to make transactions faster and cheaper, with a particular focus on applications and Ethereum developers. The Metis Virtual Machine (MVM) is EVM compatible, meaning it behaves similarly to Ethereum, but is cheaper, faster, and easier to use. It supports Solidity smart contracts in the same way as Ethereum and allows for easy integration of Ethereum-based decentralized applications by updating their RPC endpoint and performing a small configuration.
Key Points of METIS
Tokenomics and Utility of the $METIS Token
METIS, the native token of the Metis ecosystem, plays a crucial role in activating the Metis Virtual Machine (MVM) to create a DAC, in collaboration through Staking Contracts as the foundation for Optimistic Governance, and as gas for Layer 2 transactions using the Metis protocol. With a maximum supply of 10 million tokens, METIS seeks to balance allocation between community development, community benefits, and mining, thus ensuring a robust and participatory ecosystem.
Metis places a strong emphasis on decentralized governance and community empowerment through its Community Ecosystem Governance (CEG) framework. This framework allows the community to actively participate in decision-making, from verifying and selecting projects for marketing support to accessing funding opportunities.
Where to Buy METIS?
METIS is available for purchase on numerous well-known cryptocurrency exchanges, such as Binance, KuCoin, and Coinbase, among others. These platforms offer various options for acquiring METIS, including different trading pairs. It’s important to research and compare the available options on these exchanges to find the best rates and trading pairs that suit your investment needs.
