What Is Metis (METIS)? All You Need To Know

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Key Takeaways

  • Metis (METIS) aims to address Ethereum’s scalability issues by providing faster transactions and lower fees through a Layer-2 rollup model.
  • Metis provides a framework for Decentralized Autonomous Organizations (DAOs) and their variation, Decentralized Autonomous Companies (DACs).
  • The project supports the growth of decentralized applications (dApps) on the Metis network through grant programs and developer tools.

What Is Metis (METIS)?

Launched in 2021 and co-founded by Elena Sinelnikova, METIS is a Layer-2 scaling solution that aims to revolutionize the blockchain ecosystem for decentralized applications (dApps) and decentralized autonomous organizations (DAOs).

The project’s overall goal is to address the limitations of the Ethereum blockchain, specifically regarding scalability, security, and usability.

How Does Metis (METIS) Work?

Metis (METIS) functions within the MetisDAO project, which aims to solve scalability problems on the Ethereum blockchain. Here’s a deeper dive into how Metis works:

Addressing Ethereum’s Scalability

Layer-2 Solution

MetisDAO acts as a Layer-2 solution on the Ethereum blockchain. Imagine Ethereum as a busy highway and Metis as an additional lane that eases traffic congestion. This allows for faster and cheaper transactions compared to the Ethereum mainnet.

Optimistic Rollups

Metis utilizes Optimistic Rollups, a specific scaling solution. Transactions are processed off-chain, assuming they are valid. Additionally, there’s a challenge period where anyone can dispute a transaction if it’s fraudulent. If a dispute arises, the transaction is brought back to the Ethereum mainnet for settlement, which incurs a cost.

Decentralized Infrastructure

Metis also provides a framework for Decentralized Autonomous Organizations (DAOs) in the form of Decentralized Autonomous Companies (DACs). These DACs can leverage blockchain technology for management, communication, and accounting tasks.

Metis (METIS) Token And Tokenomics

Tokenomics

The METIS token is the native cryptocurrency of Metis. It is used for:

  • Governance
  • Transaction Fees
  • Staking
  • Payments

Token Details

Total Supply 10,000,000 METIS

Circulating Supply 5,250,547 METIS

Current Price $99.76

Market Capitalization $523,806,026

This information is current as of March 26th, 2024, and the token’s price, market value, and available supply may fluctuate.

Distribution

  • Team & Advisors (12.5%):
    • Founding Team: 7.00%
    • MetisLab Foundation: 4.00%
    • Advisors: 1.50%
  • Investors (4.5%):
    • Angel Investors: 1.00%
  • Community & Ecosystem (24.3%):
    • Community Star: 3.00%
    • Gate.io IEO: 0.10%
    • Community Development: 9.00%
    • Liquidity Reserve: 6.00%
    • Airdrop: 6.00%
  • Other:
    • Paid Network IDO: 0.20%

Where Can I Buy Metis (METIS)?

Binance Binance is a major exchange offering a wide range of cryptocurrencies. It offers multiple ways to buy crypto, including credit cards, debit cards, and peer-to-peer (P2P) trading.

Gate.io This exchange provides METIS, other cryptocurrencies, and margin trading options.

Coinbase Coinbase is an American-based cryptocurrency exchange that allows you to buy cryptocurrencies using various payment methods, including bank transfers, debit cards, and wire transfers.

Is Metis (METIS) A Good Investment?

Pros

  • Scalability And Low Fees – Built using Optimistic Rollups, Metis can handle many transactions per second at a fraction of the cost of the Ethereum mainnet.
  • Security – Metis leverages Ethereum’s security to offer a high level of security for applications built on its platform.
  • Developer-Friendly – Metis offers a suite of tools and resources to make it easy for developers to build decentralized applications (dApps) on its platform.

Cons

  • Competition – The Layer-2 scaling space is crowded with established players like Polygon (MATIC). Metis must carve out a niche and prove its technology can compete effectively.
  • Limited Adoption – Though Metis is growing, it still has a smaller ecosystem of decentralized applications (dApps) than more established Layer-2 solutions. Wider adoption is crucial for long-term success.

Final Thoughts

In conclusion, Metis (METIS) is a Layer-2 scaling solution for Ethereum that aims to address scalability issues with faster transactions and lower fees. While the project offers advantages like security and developer friendliness, competition in the Layer-2 space is fierce, and wider adoption of its ecosystem is a deciding factor for long-term success.

Via: 2Usethebitcoin.com

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