Singapore, 12/16/2021, ZEXPRWIRE, MetisDAO is currently on everyone’s lips, a project that until recently received very little attention. But what is it and what makes this low mcap coin so special? After reading Metis, it certainly looks like such a large project that it had to be built in secret. It unites everything that Vitalik Buterin himself envisioned for the future of Ethereum. And this is where it gets really interesting. His mother’s involvement in Metis is public and Vitalik has known Metis CEO and family friend Elena since childhood. It’s pretty easy to add two and two together.
It’s finally clear why Metis has implemented Vitalik’s proposals, dating back to 2014, like creating DACs (more later), into the vast Metis infrastructure. And why Vitalik interacts so quickly with Metis programmers on topics that are essential to Ethereum. Have a drink
Things didn’t happen by accident. This is how the story goes:
Years ago two women, Elena Sinelnikova and Natalia Ameline, were friends in Toronto. Some of her friends kept asking her, “What is blockchain? What is Bitcoin? “Etc.
So they started having small get-togethers with friends over coffee to discuss. These coffee meetings became meetups. These meetings began to expand across Toronto to other cities and countries. Those humble origins led to the creation of CryptoChicks, one of the largest blockchain advocacy and education nonprofits in the world, with a presence in 56 (!!!!) different countries.
The growth of CryptoChicks led Elena and Natalia to create a large ecosystem of intelligent blockchain employees and ultimately a “hotbed” to start new blockchain projects. It was there that Elena met Yuan Su. Yuan is an absolute genius. He started programming at the age of 6. He has an incredible analytical mind and enormous ambition. Still, he’s a really great guy, very popular with everything that’s going on in the blockchain and crypto world. When he met Elena, he was a senior developer for IBM’s Hyperledger project. Then there was Kevin Liu. Kevin understands product development and team building better than anyone I have ever met. He’s a serial founder who hadn’t yet found the perfect project.
Together Elena, Yuan and Kevin co-founded Metis, with exactly the same goal of CryptoChicks: to make blockchain easy and accessible to everyone, from curious coffee shop ladies to hardcore developers. It took the Metis team, founded in early 2019, almost three years to develop their perfect vision of a blockchain company. On November 19, 2021, this vision culminated in the introduction of Andromeda, the first version of the Layer 2 mainnet from Metis.
In the blockchain world everyone wants to know what is new, what is different and what is better. This of course leads to the question: What is Metis doing new, different and better than other optimistic rollups as well as other scaling solutions, L2 and even some Layer 1 networks?
Since Metis is just a tokenized optimistic rollup with EVM equivalence, Metis is uniquely positioned to address all three elements of the blockchain trilemma: security, decentralization, and scalability.
Layer 1 networks like Solana and commit chains like Polygon are fast, cheap, and highly scalable … but they compromise when it comes to security and decentralization, as neither are built directly on Ethereum. Some competing Layer 2 rollups have the opposite problem in that they cannot provide the fast, cheap transactions that users demand.
It offers unique cutting-edge technology:
– parallel sequencers that allow theoretically infinite scalability
– a Rangers system mentioned by Vitalik to ultimately reduce the payout to L1 to minutes (other rollups take up to 7 days)
– IPFS storage so files and NFTs can be native! stored
– Transaction times of a few seconds only cost a few cents
– future-proof EVM technology, based on this, Ethereum 2.0 sharding, so that Metis could even be seen as the basis of ETH 2.0
In contrast to zK rollups, Metis does not have a walled garden effect, even after being fully operational in one or more years, which makes it too difficult for average developers to provide their dApps due to complexity problems.
Metis inherits the EVM equivalency from Optimism, making it a breeze to integrate any ERC-20 smart contract into its L2. And by the time ZKs are fully operational, a potential roll-up war could be over anyway.
Metis, on the other hand, repeatedly refers to the roots of the “Blockchain for Everyone”, which go back to the days of the CryptoChicks. For starters, Metis inherits the EVM equivalency from Optimism, making it a breeze to integrate any ERC-20 smart contract into the Andromeda Layer 2 network. But that’s not all. Metis recently launched Polis, a type of blockchain middleware. Based on intelligent contract templates, Metis enables overwhelmed blockchain developers as well as complete blockchain newbies from the Web2 world to migrate to Andromeda in just a few blocks, without the need for blockchain experience or knowledge.
Metis also outperforms other networks in terms of community benefits. The very first native Layer 2 DEX, Netswap, has just launched on the Metis Andromeda network. In addition to lightning-fast, dirt-cheap swaps, Netswap serves as a one-stop shop for DeFi monkeys, with staking, farms, and other features about to launch. But in addition, it will soon publish its own launchpad; $ METIS and $ NETT token holders get early access to IDOs from Metis partner projects starting on Netswap, the kind of benefit normally reserved only for VC firms and other whales.
In addition, a flood of new DApps will flow onto Andromeda. The first wave comes from the upcoming end of the $ 1 million Metis Hackathon, which has drawn hundreds of developers to add popular Web2 and Web3 applications, as well as DeFi, NFT, Gaming, and Social Good DApps to the Metis network migrate. The second wave comes as projects are underway at Metis to benefit from the recently launched $ 100 million Genesi Ecosystem DAC. Funded both by Metis and its investor partners and coordinated by Natalia Ameline, Genesi is providing Metis partners with much-needed funds to scale their operations.
Pretty ambitious and aggressive partnership incentives on a project with a market cap of around $ 100 million. And no surprise that just three weeks after the mainnet start, Metis had built up a booming ecosystem of more than 60 partners from the DeFi, NFT, DAO, Gaming, Metaverse, Launchpads, Infrastructure, SocialFi and Web2 sectors.
The final and most powerful piece of the puzzle lies in an innovation called DACs. DACs were introduced in 2014 by Ethereum founder Vitalik Buterin and are decentralized autonomous companies – units that go beyond the simple voting and governance functions of DAOs and instead give people and companies the opportunity to build entire decentralized companies on blockchain. For seven years no one had thought of DACs, at least not in the way Buterin had imagined.
Today Metis fulfills Vitalik’s vision. Metis DACs are decentralized companies that use all the tools needed to run a business (ERP / CRM software, payroll tools, Slack-like messaging, etc.), port them to blockchain and integrate these tools into templates that enable each group – from blockchain -Companies to a non-blockchain giant like Nike or Amazon to a group of friends who want to trade NFTs with one another – to do anything a company would do in the “real world” but backed up by all the data optimization the blockchain, the security and decentralization of Ethereum and the few seconds and cent transactions that Metis will offer very soon. The potential of Metis DACs is almost limitless. The Metis team recently unveiled a use case that enables DACs to serve as essential pieces of Metaverse projects, an approach that has already helped deliver multiple Metaverse partners to the Metisverse. Metis also wants to be a pioneer in the field of NFT bridges (in direct collaboration with Vitalik on this topic).
Metis still has an incredibly low market cap due to the mainstream attention that’s just getting started as we speak. And the fact that they have already raised a $ 100 million fund from VCs (managed by Vitalik’s mom) just to help the Metis ecosystem is just insane. Binance was one of their $ 1 million hackathon sponsors. You already have more than 60 partners from the areas of DeFi, NFT, DAO, Gaming, Metaverse, Launchpads, Infrastructure, SocialFi and Web2 on board and you have a huge project backlog that is waiting for implementation. CEO Elena and Natalia, Vitalik’s mother, are closely connected to the ETH community and have made Aave what it is today. Of course, Aave is currently being integrated into Metis. They managed to secure sponsors such as Microsoft, IBM and the Royal Bank of Canada for their Cryptochicks organization, and “by chance” the Metis team at the Royal Bank presented their technology. We can probably expect a lot in the future.
Between DACs, superior scalability, and the fact that Metis is the first Layer 2 project to ever publish a full decentralization roadmap (100% of Metis infrastructure is managed by the community, not the team), Metis delivers Vitalik’s vision in all its forms. Of course, we probably shouldn’t be surprised that this aspiring superstar project is executing the plans of the most influential person on the blockchain. After all, Natalia Ameline is Vitalik’s mother, and her best friend Elena Sinelnikova can tell Vitalik stories from when he was still in diapers.
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