Buy Metis

Metis (METIS) is a layer 2 blockchain platform built on Ethereum, designed to enhance the scalability and efficiency of decentralized applications. Ethereum often faces challenges such as high transaction fees and network delays, especially during periods of high demand. To address this issue, Metis has developed a unique infrastructure that batches transactions and processes them off-chain before they are finally recorded on the Ethereum network. This saves costs, accelerates transactions, and provides a smoother experience for both users and developers.

What sets Metis apart from other layer 2 solutions is the Decentralized Autonomous Company (DAC) structure. Unlike traditional DAOs (Decentralized Autonomous Organizations), which mainly focus on governance and voting processes, the DAC structure emphasizes the operational aspect of decentralized companies. With this structure, companies operating on Metis can manage functions such as payroll, HR, project management, and other administrative tasks in a decentralized manner. This approach makes Metis particularly well-suited for decentralized applications and businesses looking to combine the benefits of blockchain technology with the flexibility and autonomy of a traditional company.

Additionally, Metis offers a comprehensive set of tools, including the Metis Virtual Machine (MVM), which is compatible with Ethereum's Virtual Machine (EVM) but provides higher speed and efficiency. The MVM provides developers with the advantage of a shared infrastructure and the ability to manage their own unique layer 2 environment. This means that dApps (decentralized apps) can focus on their specific features without worrying about network scalability and costs.

The Andromeda mainnet of Metis forms the foundation of the platform and supports applications across various sectors such as DeFi (decentralized finance), NFTs, and data management. Metis also offers a bridge for NFTs, enabling users to easily transfer NFTs between Ethereum and Andromeda and securely store them via IPFS (InterPlanetary File System). With this infrastructure, Metis provides a broad and versatile environment for blockchain development, catering to the needs of both individual users and large enterprises.

Who founded Metis?

Metis was co-founded in 2019 by Elena Sinelnikova, Kevin Liu, and Yuan Su. Sinelnikova, an experienced blockchain and cybersecurity specialist, previously founded the educational platform CryptoChicks. Liu has a background in investments and strategic development, holding an MBA from the Chinese Academy of Sciences. Su, with a degree in computer science and an MBA from the University of Toronto, was formerly a software engineer at IBM. The Metis team comprises experts from various fields and receives support from companies such as Gate.io Labs and Master Ventures. The project is managed by Genesi DAC, led by Natalia Ameline, the mother of Ethereum founder Vitalik Buterin.

Metis offers a wide range of features and applications empowering both end-users and developers to utilize the platform effectively:

• Scalable Ethereum Transactions: Thanks to the layer 2 technology, transactions are faster and cheaper than on the Ethereum mainnet.
• Decentralized Finance (DeFi): Metis supports dApps for borrowing, lending, and yield farming, benefiting from low transaction fees and high processing speeds.
• NFT transfers and storage: Metis’s NFT bridge enables secure and inexpensive NFT transfers between Ethereum and Andromeda.
• Management of Decentralized Autonomous Companies (DACs): The DAC structure facilitates the decentralization and automation of business processes like HR and project management.
• Middleware for Smart Contracts: Metis provides tools like Polis to simplify smart contract management, perfect for developers managing contracts on Metis.

Metis is a layer 2 solution utilizing an Optimistic Rollup architecture to efficiently process Ethereum transactions. By bundling and processing transactions off-chain before recording them on the Ethereum blockchain, Metis achieves substantial reductions in transaction fees and processing time.

Rollup-platform and MVM

The core of Metis' technology is Optimistic Rollups, a technique that bundles multiple transactions for more efficient processing. This significantly reduces costs and speeds up the process without compromising the security and decentralization of the Ethereum network. Metis has developed the Metis Virtual Machine (MVM), which is compatible with the Ethereum Virtual Machine (EVM). This enables dApps to run and develop seamlessly.

The MVM separates storage and computations, resulting in lower costs and better scalability. Each DAC within the MVM has its own layer 2 environment, allowing them to operate independently with dynamic resource allocation.

Hybrid Rollup and data storage

In 2023, Metis introduced the Hybrid Rollup, an innovative combination of Optimistic Rollups and Zero-Knowledge Proofs (ZKPs). This hybrid solution enhances security and improves efficiency, making Metis particularly suitable for a wide range of applications, from DeFi to gaming and business applications. Metis utilizes Memo Labs for off-chain data storage, resulting in lower storage costs and reduced strain on the Ethereum blockchain.

Decentralized Autonomous Corporations (DACs)

DACs are a fundamental component of Metis's infrastructure, aimed at integrating traditional business structures into a decentralized environment. Within Metis, each DAC operates as an independent company with a shared layer 2 environment. This offers opportunities for project management, HR, and payroll in a decentralized context. By utilizing staking mechanisms and reputation points, Metis encourages responsible participation within the DACs.

The METIS token is the native token of the MetisDAO ecosystem and is an ERC-20 token on the Ethereum blockchain. It has various essential functions for the operation of the Metis infrastructure. METIS is used for paying transaction fees within the Andromeda network, staking tokens in DACs, and as a reward in the Builder Mining program for active participation in the ecosystem.

The token also plays a crucial role in ensuring network security: validators, known as Rangers, must stake METIS tokens to validate transactions. In the event of fraudulent actions, their staked tokens are seized. The maximum supply of METIS tokens is capped at 10 million. This limited supply creates scarcity, which is expected to contribute to the token's value and stability within the ecosystem. METIS is therefore not only a utility token but also a governance and security tool within the Metis environment.

Metis has several unique features within the blockchain world:

• Decentralized Autonomous Companies (DACs): Instead of focusing solely on governance, Metis introduces the DAC structure. This allows companies to operate entirely decentralized, with functions such as HR, project management, and payroll within an autonomous, blockchain-based environment.
• Hybrid Rollup Technology: Metis combines Optimistic Rollups with Zero-Knowledge Proofs (ZKPs), resulting in an advanced scalability model that offers both security and ease of use—a unique combination within layer 2 solutions.
• Metis Virtual Machine (MVM): The MVM is designed for efficiency and flexibility, enabling developers to build their own dApps in an isolated layer 2 environment without the constraints of a shared network.
• Reputation system within DACs: Metis features a unique reputation system where participants within DACs earn reputation points based on their engagement and staking. This contributes to reliability and trust within the network.
• Polis as Smart Middleware: Metis provides the innovative middleware platform Polis, which simplifies contract management and supports reputation building for users. This offers practical benefits for developers working on the Metis platform.

You can purchase Metis (METIS) at Bitvavo. Bitvavo is suitable for both new users and experienced traders. Follow the steps below to buy METIS via the Bitvavo website or app:

1. Log in to your Bitvavo account or create a new account.
2. Add funds to your account by clicking "Deposit".
3. Head to the Metis purchase page.
4. Enter the desired amount in euros or specify how many Metis tokens you wish to acquire and press "Buy".

Looking to safely store your Metis tokens? You can easily do so in your Bitvavo account, where most of the customer funds are kept in secure offline cold storage. Although Bitvavo provides extensive security measures, we recommend enabling two-factor authentication (2FA) for extra protection, which will require you to enter a unique code in addition to your password when logging in.

You can transfer METIS tokens to an external wallet. Most software and hardware wallets support Metis, giving you the option to store your tokens outside of Bitvavo. Always carefully verify the wallet address when transferring. Once everything is correct, you can easily send your METIS to an external wallet, giving you more control over your funds.