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About Metis
Key Points
- Metis is an Ethereum Layer-2 scaling solution aiming to solve the blockchain trilemma.
- Founded in 2019 by Elena Sinelnikova, Kevin Liu, and Yuan Su, officially launched on Nov. 17, 2021.
- Metis integrates the Decentralized Autonomous Company (DAC) framework into its Layer 2 infrastructure.
- Uses Optimistic Rollups to batch multiple transactions into one, making transactions cheaper and faster.
- Stores most transaction data off-chain, making storage substantially cheaper.
- Offers a modular framework for developers to build and customize their own dApps.
- MetisDAO Foundation launched
About Metis: Empowering a New Era of Decentralized Applications
Introducing MetisDAO (METIS): A Revolutionary Decentralized Autonomous Organization
Metis is an Ethereum Layer-2 scaling solution that endeavors to resolve the blockchain trilemma, wherein decentralized, secure, and scalable networks have proven elusive. Furthermore, it seeks to overcome Ethereum’s most pressing challenges, namely, sluggish transaction speeds, exorbitant costs, and limited scalability.
Metis is dedicated to empowering developers to create and manage existing decentralized applications (dApps), while also providing support to innovators seeking to design and launch novel dApps. Furthermore, it seamlessly integrates the Decentralized Autonomous Company (DAC) framework into its Layer 2 infrastructure, thereby facilitating a seamless transition for developers and businesses from Web 2.0 to the decentralized realm of Web 3.0.
The Visionary Founders Behind MetisDAO
Metis was founded in 2019 by Elena Sinelnikova, Kevin Liu, and Yuan Su, although it didn’t officially commence operations until November 17, 2021.
Prior to founding Metis, Sinelnikova spearheaded various crypto initiatives, including the launch of Crypto Chicks, a non-profit blockchain educational hub, in 2017. Her impressive background boasts a Master’s degree in computer science, complemented by extensive experience in blockchain, cybersecurity, software development, and full-stack programming.
Prior to founding Metis, Kevin Liu accumulated a wealth of experience as an investment manager and strategic development expert. He holds an undergraduate degree in management and an MBA from the prestigious Chinese Academy of Sciences.
Yuan Su pursued undergraduate studies in computer science, followed by an MBA at the esteemed University of Toronto. Upon graduating, he embarked on a successful career as a software engineer and manager at IBM, a tenure that spanned until 2019. That year, he co-founded Metis, and presently, he also spearheads development at CaseWare International.
Unveiling the Unparalleled MetisDAO: A Beacon of Innovation
MetisDAO distinguishes itself from other protocols in several key aspects.
By leveraging Optimistic Rollups, Metis users can enjoy rapid and cost-effective transactions on the Ethereum blockchain, where multiple transactions are consolidated into a single transaction, subsequently processed on Ethereum. This Layer 2 infrastructure harnesses the security and decentralization of Ethereum, thereby rendering transactions more affordable and efficient.
Notably, Metis diverges from the conventional approach of storing transaction data on layer-1, instead opting to store the majority of its transaction data off-chain, with only the most essential information retained on its layer-1. The Sequencer subsequently relocates this off-chain data to Memolabs storage. In contrast to a Layer 1 blockchain like Ethereum, storage on Memo Labs is significantly more economical.
Metis also provides a modular framework, empowering developers to craft and tailor their own decentralized applications (dApps) leveraging Metis’ robust infrastructure.
Introducing Metis’ DAOtribution: A Revolutionary Community Engagement Initiative
MetisDAO embodies a dual role, serving as a Layer 2 scaling solution while concurrently providing a platform for the creation and operation of decentralized autonomous companies (DACs).
The MetisDAO Foundation has inaugurated a grants program, dubbed the DAOTribution Campaign, to empower contributors and communities to launch their decentralized autonomous corporations (DACs) on KORIS. Through this initiative, the MetisDAO Foundation will be opening weekly Kohorts, providing qualified applicants with the opportunity to submit grant proposals and secure funding in the form of Metis tokens.
Introducing the Metis Hybrid Rollup: A Revolutionary Scalability Solution
On March 2, 2023, MetisDAO unveiled its ambitious project to develop “the pioneering Hybrid Rollup,” seamlessly integrating optimistic rollup architecture with zero-knowledge proofs. While the rollup is still a work in progress, Metis envisions that this innovative fusion will yield “a secure, developer-centric Layer 2 solution, empowering Ethereum developers to deploy a diverse range of decentralized applications.”
What Is the Circulating Supply of MetisDAO (METIS) Coins?
The tokenomics of MetisDAO (METIS) are structured as follows: a capped supply of 10,000,000 tokens. Notably, the initial 49.3% of the total METIS token supply was minted in 2021, allocated towards the “cold launch,” as well as reserved for the team, advisors, investors, and ecosystem/community development initiatives.
The remaining 50.7% of METIS tokens will be distributed as follows: 4.86% will be allocated for community benefits, including mining initiatives, 10% will be reserved for early-stage Rangers mining, 3% will be dedicated to community development in the forthcoming Discovery Age, and 32.84% will be assigned to transaction-related mining in the same era.
Acquiring METIS Tokens: A Comprehensive Guide
MetisDAO is proudly listed on a plethora of esteemed exchanges, including OKX, BingX, Huobi, Coinbase, BitMart, KuCoin, and many more.
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