Metis Price (METIS)

What Is MetisDAO (METIS)?

Metis is an Ethereum Layer-2 scaling solution aiming to solve the blockchain trilemma: that blockchains cannot be decentralized, secure, and scalable simultaneously. It also strives to solve Ethereum's biggest challenges: speed, cost and scalability.

Metis wants to help developers create and manage existing decentralized applications (dApps), while also supporting developers and entrepreneurs who want to build and launch new dApps. It also integrates the Decentralized Autonomous Company (DAC) framework into its Layer 2 infrastructure to help developers and businesses move from Web 2.0 to Web 3.0.

Who Are the Founders of MetisDAO?

Elena Sinelnikova, Kevin Liu, and Yuan Su founded Metis in 2019, but the business didn't officially launch until Nov. 17, 2021.

Sinelnikova established other crypto projects prior to founding Metis, including the non-profit blockchain educational hub ‘Crypto Chicks,’ in 2017. She has a Master’s degree in computer science and experience working in blockchain, cybersecurity, software development, and as a full-stack programmer.

Kevin Liu worked as an investment manager and in strategic development before launching Metis. He has an undergraduate degree in management and an MBA from the Chinese Academy of Sciences.

Yuan Su studied computer science as an undergraduate and then did an MBA at the University of Toronto. After graduating, he worked as a software engineer and manager at IBM until 2019, when he co-founded Metis. He now also heads up development at CaseWare International.

What Makes MetisDAO Unique?

MetisDAO differentiates itself from other protocols in a few different ways.

Metis users can transact quickly and cheaply on the Ethereum blockchain thanks to Optimistic Rollups, which batch multiple transactions into one transaction that is then processed on Ethereum. Its Layer 2 infrastructure uses Ethereum's security and decentralization to make transactions cheaper and faster.

Transaction data is usually stored on layer-1, whereas Metis stores most of its transaction data off-chain, with only the minimum viable data stored on its layer-1. This off-chain data is then placed in Memolabs storage by the Sequencer. When compared with a Layer 1 like Ethereum, storage on Memo Labs is substantially cheaper.

Metis also offers a modular framework, allowing developers to build and customize their own dApps using Metis’ infrastructure.

What Is Metis’ DAOtribution Campaign?

MetisDAO is both a Layer 2 scaling solution and a platform for building and running decentralized autonomous companies (DACs).

The MetisDAO Foundation has launched a grants program to empower contributors and communities to kickoff their DACs on KORIS called the DAOTribution Campaign. Through the DAOtribution Campaign, the MetisDAO Foundation opens weekly Kohorts for qualified applicants to submit grant proposals and receive funding through the Metis token.

What Is the Metis Hybrid Rollup?

On March 2, 2023, MetisDAO announced that it was building “the first-ever Hybrid Rollup by combining optimistic rollup architecture with zero-knowledge proofs.” Although work on the rollup is still ongoing, Metis believes that combining both architectures will help it provide “a secure, developer-friendly Layer 2 for Ethereum developers to deploy all types of decentralized applications.”

Related Pages:

Read about Arbitrum (ARB) — the leading optimistic rollup currently in the market.

Find out more about Optimism (OP) — another of the top optimistic rollups.

What are optimistic rollups? Find out with the CMC glossary.

Learn more about optimistic rollups vs zk-rollups on CMC Alexandria.

Take a deep dive into modular versus monolithic blockchains.

How Many MetisDAO (METIS) Coins Are in Circulation?

The tokenomics of MetisDAO (METIS) is as follows: a maximum supply of 10,000,000 tokens. The first 49.3% of the total supply of METIS tokens was minted in 2021 for “cold launch, team, advisors’ and investors’ allocation, and ecosystem/community development.”

The rest of the 50.7% of METIS tokens will be allocated to: 4.86% for community benefits (including mining), 10% for early-stage Rangers mining, 3% for community development in upcoming Discovery Age, 32.84% for transaction-related mining in upcoming Discovery Age.

Where Can You Buy METIS Tokens?

MetisDAO is available on OKX, BingX, Huobi, Coinbase, BitMart, KuCoin and more.