You’ve decided that MetisDAO is a good investment? You can invest in METIS on Gate.io today!
Despite being the leading blockchain for building decentralized applications (dApps), Ethereum is painfully slow, gas fees are too high when the network is busy, and storing data on Ethereum is expensive. These serious issues need to be addressed for Ethereum to be mainstreamed as a sustainable and fun application building platform. Layer 2 solutions — projects aimed at increasing the speed and efficiency of certain blockchains — solve these problems to some degree.
MetisDAO (Metis) is one of Ethereum’s most promising Layer 2 solutions, which aims to solve Ethereum’s top six challenges: simplicity, speed, storage, scalability, security and savings. In this way, Metis is able to offer extremely fast transactions that take only a few seconds and cost only a few cents while maintaining Ethereum Layer 1 security.
The whole goal of Metis is to build a Web3 infrastructure that allows companies to work entirely on the blockchain without any coding templates. With arguably undervalued fundamentals, strong competitive advantages, and a market cap rank that exceeds the top 300, METIS could be an extremely lucrative crypto gem to add to your portfolio before it hits the masses.
What is MetisDao?
Metis is a Layer 2 scaling solution for Ethereum that enables cheaper and faster transactions. It makes it easy to build a versatile, easy-to-use, and scalable framework for apps and businesses moving from Web 2.0 to Web3.
More specifically, Metis employs Optimistic Rollups, a type of Layer 2 construction built on top of Ethereum that enables smart contract execution while being secured by Ethereum. The Metis Layer 2 network assumes all transactions are valid until proven otherwise – hence the optimistic part of Optimistic Rollup.
Unlike many other Layer 2 solutions, Metis’ main goal is to make the development of decentralized applications (dApps) and decentralized autonomous enterprises (DACs) on its platform easy and straightforward, especially for blockchain newbies. By using Metis Polis, a middleware developed by the team to manage and interact with smart contracts, Metis aims to enable developers to integrate dApps on Metis Layer 2 without blockchain coding.
Additionally, the platform has various use cases such as blockchain-based crowdfunding, decentralized finance (DeFi) social media platforms, integrated decentralized exchanges (DEXs), yield farming, open-source communities, investment and trading business model development. In fact, the Metis team and early investors created a DAC with $100 million in grants dedicated solely to supporting high-potential projects across all major crypto verticals, including gaming, DeFi, and DAOs.
Who is behind MetisDao?
Two women — Elena Sinelnikova and Natalia Ameline — met for coffee one afternoon to discuss how to make blockchain more accessible to the mainstream. As one idea morphed into another and more individuals contributed to the idea, MetisDAO was soon born.
MetisDao was founded in 2019 by current CEO Elena Sinelnikova with the simple yet ambitious goal of making blockchain easy and accessible to everyone. The team is experienced, has deep connections and can be verified online.
Elena is a respected blockchain educator who founded CryptoChicks in 2017 – a non-profit educational organization focused on blockchain education for women. Other competent members of the Metis team include Natalia Ameline, who is also the mother of Vitalik Buterin (co-founder of Ethereum). Buterin has openly stated that Layer 2 solutions are critical to improving Ethereum’s scalability, and Metis aspires to be the leading project to fill this need.
The project has recently formed several significant partnerships with organizations such as Tristan Metaverse, PAID Network, PARSIQ and OpenDeFi.
MetisDAO price history
MetisDAO has a current market cap of around $215 million, making it one of the top 300 cryptocurrencies by market cap. With a circulating supply of around 3 billion and a maximum supply of 10 billion METIS, METIS is well below all-time highs during the current 2022 bear market. Bearish and fearful market sentiment presents a potential buying opportunity for investors with faith in METIS fundamentals.
It is important to note that 50% of METIS supply is reserved for community mining. Namely, the project offers member DACs a reward in METIS for each transaction performed on the Metis platform. Projects are funded to contribute to the long-term success of the Metis platform and token, and ultimately to contribute to the growth of the thriving Metis ecosystem.
MetisDAO competition
Arbitrum and Optimism are Metis’ main competitors. Both are Layer 2 solutions that also provide optimistic rollups. Despite the similar Layer 2 framework, Metis’ unique mission to make blockchain more accessible is a key differentiating factor that sets it apart from all other competitors.
This competitive advantage is primarily driven by MetisDAO’s middleware, Metis Polis, an innovative tool for moving dApps and DACs to Metis without blockchain coding knowledge. With their middleware, all a company needs to make the transition from Web 2.0 to Web 3.0 is a viable product that can be deployed. Under this framework, DACs can provision their own dApps and tokens with the click of a button, while users have access to roles, permissions, HR, payroll, communications and marketing.
For end users, Polis is another web wallet. However, with a Polis account, all transaction history is recorded and eventually turned into Reputation Power – a feature that users benefit from when collaborating in a DAC (benefits such as greater decision-making power and more discounts).
Overall, if successful, Polis will provide significant incentive for DACs and end users, especially those new to blockchain, to use Metis via arbitrage and optimism.
In addition to making blockchain extremely accessible, Metis differs from Optimism and Arbitrum in the following ways:
- At the time of writing, Metis is the only one of these solutions that has its own native token (METIS).
- Metis is less vulnerable to delay attacks than Optimism.
- Metis is more scalable than Arbitrum and Optimism.
- Builder Mining: Every time a dApp performs a transaction, the dApp generates a token reward — an ecosystem incentive that many other layer 2s don’t have.
- Abritrum and Optimism both support smart contract execution, but only Metis offers decentralized storage integrated with the InterPlanetary File System (IPFS) for smart contract computing –– support for non-fungible tokens (NFTs).
IPFS is a distributed system for storing and accessing files, applications, websites and data. In other words, it allows users to save and download their NFTs directly on the Metis network at any time and instantly.
For other Optimistic Rollups, the payout time from Layer 2 to Ethereum is seven days. Currently withdrawal times are a few hours and once Metis is fully developed they will be reduced to a few minutes. This goal is achieved through a network of rangers validating transactions and Metis Virtual Machine (MVM).
MVM is a virtual machine compatible with the Ethereum Virtual Machine, which separates the computation and storage of the Ethereum construct for Layer 2s. This feature ultimately allows for shorter wait times when withdrawing from the Ethereum network.
Rangers receive financial incentives for verifiers or verifiers deploying and dismantling METIS to verify transactions. If they process an invalid transaction, their stake is cut, which deters bad actors. The process is secured by Ethereum’s Layer 1.
How to buy METIS tokens
1 minute recap
Gate.io aims to be your one-stop shop for cryptocurrency trading. The platform carries nearly 200 different currencies spread across 350+ markets. Traders can buy and sell cryptocurrencies, with spot and margin trading being the most commonly used markets. The platform also allows traders to leverage peer-to-peer transactions via its “push transactions” feature.
Multiple security protocols ensure your safety when using mobile or desktop browsers. Also, a trading guide explains how to use the system for your first trades. Not sure if you can trade your preferred currency? At the bottom of the home page there is a “coin list”.
best for
- Beginners and professionals who want to trade cryptocurrencies across multiple markets
- Anyone concerned with security
- Traders who need additional information for their investments
- Consumers looking for a comprehensive rewards program
advantages
- Lots of cryptocurrencies to choose from
- Multiple trading styles
- Enhanced, industry-leading security
- Low fees
- High quality mobile app
Disadvantages
- Almost too much functionality
- A busy customer support system
METIS is already listed and traded on some major exchanges such as Gate.io and Poloniex. At the time of writing, the Gate.io exchange has the most liquidity. Liquidity is mainly focused on the METIS/USDT trading pair.
Additionally, you can buy METIS tokens on decentralized exchanges such as Uniswap and PancakeSwap. Uniswap allows trading METIS tokens with the ETH pair and has the highest volume.
Cryptocurrency market outlook
While METIS can offer a strong value proposition compared to other cryptocurrencies like most altcoins, METIS is heavily influenced by the overall trends and sentiment in the cryptocurrency market. Well into 2022, the broader cryptocurrency market was beset by uncertain macroeconomic conditions, leading to bearish and fearful market sentiment.
Is MetisDAO a good investment?
If you believe in the importance of Layer 2 solutions, Metis could be the perfect choice. Metis Layer 2 is highly scalable, fast and inexpensive compared to Ethereum’s slow and expensive Layer 1. Furthermore, with Ethereum as the base layer 1, Metis matches the security and decentralization level of Ethereum and is much higher than other alternative Layer 1s like Solana, Avalanche and Cardano. As such, Metis can be considered the best of both worlds.
Even after The Merge, formerly ETH 2.0, Layer 2 solutions will continue to play an important role in enabling Ethereum to reach its full potential and functionality, Buterin noted.
The potential of METIS is limitless and limited only by the efforts of the team and the community. If Metis continues to fulfill its mission while successfully addressing the challenges inherent in optimistic rollups, such as bridging delays and the potential for fraud, an investment in METIS could prove a profitable proposition.
Learn Crypto Trading, Yield Farms, Income strategies and more at CrytoAnswers
https://nov.link/cryptoanswers
Comments are closed.