What is MetisDAO (METIS)?

Metis Protocol is a governance and management framework for distributed collaborations. Based on the Metis Protocol, anyone in the world can build a DAC to establish and govern a collaborative relationship with anyone else to achieve a business goal. Metis Protocol also provides a framework to support and manage the implementation of the collaborations transparently and efficiently.

Metis is a decentralized framework to support the creation and management of decentralized companies. It is a layer 2 open framework for the creation, management, and scaling of DACs (Decentralized Autonomous Companies), a subclass of DAOs. Whereas DAOs focus primarily on matters of governance, DACs are designed specifically to address day-to-day business operations and management. 

Metis is focused on building out sustainable, decentralized companies on top of performant layer 1 blockchains through their DAC framework. Metis was inspired by what cross-domain collaborations could achieve. Like other digital complex collaborations that are so prevalent in our daily lives, like Uber and Doordash, MetisDAO operates using a similar mechanism. The conceptualization of the name MetisDAO came from several names, but MetisDAO was chosen in the end.

MetisDAO is built on, governed by, and managed by the Metis Protocol. Metis Lab is one of the founding members of MetisDAO, which will be responsible for fundraising, R&D, operations, and community development.

MetisDAO and the Casper Protocol

The Casper network will enable Metis to build its layer 2 solutions for decentralized companies and communities without worrying about the limitations of the underlying layer 1 protocol. Casper will free up the team to continue accelerating the creation and adoption of decentralized businesses. Metis is enhancing the capabilities of the Casper network by establishing a layer 2 that can engage with incumbent and emerging Web2 and Web3 use cases, including DeFi, creator economies, OS projects, crowdfunding, and more.

Metis is an Ethereum layer 2 rollup platform that is designed from the ground up to be almost identical to Ethereum but cheaper, faster, easier to use, more scalable, and more functional, with inexpensive on-chain storage. If you’ve built an app on Ethereum before, you’re more than equipped to deploy it to Metis.

 

Who are the founders of MetisDAO (METIS)?

 The founders of MetisDAO are 

Elena Sinelnikova, Kevin Liu, and Yuan Su.

Elena Sinelnikova is the Co-Founder and CEO of MetisDAO and also the founder of CryptoChicks. She is a software development guru and an entrepreneur and has an extensive background in developing enterprise software solutions for government and law enforcement industries. She holds a Master of Computer Science degree and her specialties are in blockchain, cybersecurity, and full-stack programming. 

Kevin Liu is the Co-Founder and Product Lead at MetisDAO. He is leveraging Optimistic Roll-up to underpin the development of the Web3 economy and is also an active researcher in the Token Economy, DAO, Defi, and Blockchain Governance.

MBA from UCAS.

Yuan Su is the Co-Founder of Technology at MetisDAO and prides himself on being a visionary and transformational leader with a hybrid skill set in technology and business.

 

What is MetisDAO (METIS) used for?

Build NFT platforms

The protocol is built with tools that allow developers to build their own NFT platform.

Develop decentralized Reddit-like social platforms

Likewise, these tools allow for the development of decentralized applications like social media platforms.

An engaging open-source developer, gaming, freelancer, and influencer community

MetisDAO also serves as a community or umbrella for various developers, gamers, freelancers, and even influencers. There, they can interact with one another and share personal stories.

Yield farming

Using the METIS token, users can engage in yield farming and earn returns.

Crowdfunding

Since MetisDAO is a community, it can serve as a site for crowdfunding as long as the community members agree on a common goal.

 

How is MetisDAO (METIS) unique?

Metis partnership with CasperLabs to bring performance, scale, and security to decentralized applications, economies, communities, and topologies to provide a systematic approach to defining different communities’ functions, such as the stream-aligned team, the enabling team, the complicated-subsystem team, and the platform team, are the unique features of MetisDAO.

The Casper Protocol is a layer one public blockchain designed to support the governance of protocols through a range of features. Through the partnership, Metis will help bring various use cases into the Casper ecosystem by enabling them to create their own decentralized companies. and providing blockchain-based tools to organize and manage their projects in a decentralized way. 

Casper supports a flexible, scalable, and secure architecture that supports the nuances Metis needs as it continues to build its layer 2 solutions. It has upgradeable contracts that allow teams to deploy Dapps without worrying about how to implement improvements in the future. The weighted keys enable unique and customizable solutions to access, identity, and permissioning, and the flexible payment codes support a variety of payment schemes that DACs may want to adopt in the future, allowing DApp teams to pay for user transactions and accelerate user onboarding.

Casper also enables on-chain governance facilitated by users’ reputations rather than just token accumulation. Reputation is gained through contributions to the community, whereas today’s governance tokens are often gained through capital expenditure only.

 

How many MetisDAO (METIS) coins are in circulation?

It has a circulating supply of 4,356,253 METIS coins and a maximum supply of 10,000,000 METIS coins.

 

How is the MetisDAO secured?

The team has developed a bug bounty program that focuses on their smart contracts and is designed to prevent the loss of user funds staked by freezing or theft and smart contract gas drainage.

The rewards are distributed according to the impact of the vulnerability based on the Immunefi Vulnerability Severity Classification System.

The Immunefi Vulnerability Severity Classification System is a simplified 5-level scale, with separate scales for websites, apps, and smart contracts or blockchains. All smart contract bug reports must come with a PoC to be considered for a reward. In the program, critical vulnerabilities are further capped at 10% of economic damage, with the main consideration being the funds affected, in addition to PR and brand considerations, at the discretion of the team. 

Metis requires KYC to be done for all bug bounty hunters submitting a report and wanting a reward. Payouts are handled by the Metis team directly and are denominated in USD or METIS.

 

How do I buy MetisDAO (METIS)?

Metis Protocol is an infrastructure for distributed collaborators to build up a DAC, to govern the collaboration implementation. The METIS token can be used for a wide range of uses, like staking and farming.

METIS tokens can be easily purchased by the following steps. 

* Open an account with the crypto trading platform.

* Transfer the specific amount of your fiat currency to your account.

* Wait for your deposit to be confirmed and buy METIS through your trading account.

 

Which Cryptocurrency Wallet Supports MetisDAO (METIS)?

The PTPWallet platform supports many cryptocurrencies simultaneously, such as MetisDAO (METIS). Because of its vast use case, it has grown to become one of the most used platforms, as it serves as an exchange and an engine to discover other cryptocurrencies. Users can easily use PTPWallet as their METIS wallet because it offers a simple interactive interface, making it easy for people to navigate its system.

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on whatsapp
WhatsApp
Share on telegram
Telegram
Share on reddit
Reddit

More to explore

MIR

What is Mirror Protocol (MIR)?

Mirror protocol is a DeFi protocol powered by smart contracts on the Terra network that enables the creation of synthetic assets called

MTL

What is Metal (MTL)?

Metal is a blockchain-based system that utilizes Proof-of-Processed-Payments (PoPP) to identify users and reward them for converting legacy fiat currency into cryptocurrency.

Metahero

What is Metahero (HERO)?

Metahero is a deflationary utility token that uses an ultra-realistic 3D technology to generate 3D avatars and virtual objects for use across

Get on the VIP list!

Get company and PTPWallet updates and news sent straight to your inbox. No spam. Unsubscribe at any time. 


Get on the VIP list!

Get company and PTPWallet updates and news sent straight to your inbox. No spam. Unsubscribe at any time.