METIS Metis

Use Cases of Metis

Metis is a versatile Layer 2 solution that offers a variety of use cases within the blockchain ecosystem. Here are some of the key applications:

• Decentralized Applications (dApps): Metis provides a powerful platform for building decentralized applications. By utilizing its Layer 2 solution, developers can create dApps that offer high-performance capabilities and a seamless user experience. This includes faster transaction processing and lower fees, unlocking new possibilities for dApp development.

• NFT Marketplaces: Metis supports NFT marketplaces by enabling them to handle high transaction volumes of buying, selling, and trading unique digital assets. This ensures a smooth and efficient experience for both creators and collectors.

• Gaming Platforms: Metis offers a robust solution for scaling gaming applications. By leveraging Metis, game developers can create immersive and interactive experiences with faster transaction speeds, lower costs, and enhanced scalability. This opens up new opportunities for multiplayer games, in-game economies, and blockchain-based rewards.

• DeFi Applications: Metis can be used for decentralized finance (DeFi) applications, providing scalable and efficient solutions for financial transactions and services.

• Supply Chain Management: Metis' platform is valuable for businesses seeking scalable and efficient solutions for supply chain management, leveraging its Layer 2 scaling technology to enhance speed and efficiency while maintaining security.

Key Benefits

• Enhanced Scalability: Metis addresses scalability challenges in Ethereum applications, providing faster and cheaper transactions.
• Improved User Experience: Metis enables a seamless user experience through faster transaction processing and lower fees.
• Access to Cutting-Edge Technologies: Metis offers developers access to cutting-edge blockchain technologies, simplifying the development process and driving the adoption of decentralized applications.

Additional Features

• EVM Compatibility: The Metis Virtual Machine (MVM) is EVM compatible, making it easier to implement Ethereum-based dApps within the MVM.
• Decentralized Sequencer: Metis features a decentralized sequencer, creating proper incentive alignment across all network participants and paving the way towards becoming a superfluid blockchain.
• Liquidity Enhancements: Integrations with EigenLayer and Renzo enhance liquidity and enable deeper use cases for both METIS and ETH, fueling dual-staking and dual-restaking opportunities.

Pros of Metis

• Scalability and Speed: Metis uses Optimistic Rollups, which allows it to process transactions faster and at a lower cost compared to Ethereum's Layer 1. This results in significantly faster transactions that cost less.
• Security and Decentralization: With Ethereum as its base Layer 1, Metis' level of security and decentralization is equivalent to Ethereum's, making it more secure than alternative Layer 1s such as Solana, Fantom, or Harmony.
• NFT and DAO Support: Metis offers a suite of additional products including an NFT bridge and storage solution, a framework for decentralized autonomous companies (DACs), and middleware that helps developers manage their smart contracts.
• Low Gas Fees: Metis has low gas fees, as low as a few cents, compared to tens of dollars on Ethereum or more than $1 on Polygon.
• Fast Transactions: Transactions on Metis are fast, taking only 2 seconds, compared to at least a few minutes on Ethereum.

Cons of Metis

• Withdrawal Delays: A period of time is needed for potential fraud challenges, which can delay withdrawals. Currently, it takes a week to bridge funds from Metis back to Ethereum, although the Metis Ranger System aims to reduce this time to hours or minutes.
• Fraud Risks: There is a risk that fraud proofs may not be submitted even in the presence of fraud, resulting in an invalid state. However, Metis employs a multi-party fraud detection system to minimize this issue.
• Centralization: Metis uses a centralized sequencer, which could be seen as a drawback. However, the project aims to fully decentralize in the future.

Founders of Metis

• Elena Sinelnikova: Co-founder and CEO of Metis. She is an experienced software developer and blockchain entrepreneur who also co-founded CryptoChicks, a blockchain education platform for women.
• Kevin Liu: Co-founder of Metis, focusing on strategy.
• Yuan Su: Co-founder of Metis, focusing on innovation.

These founders came together with the shared vision of creating a decentralized platform that allows businesses and individuals to collaborate and operate in a borderless environment, leveraging the power of blockchain technology.

Investors in Metis

Metis has attracted a variety of investors across different funding rounds. Here are some of the key investors:

• Venture Capital Firms:
  • OKX Ventures: A leading venture capital firm focused on blockchain and cryptocurrency projects.
  • Genblock Capital: A venture capital firm that invests in early-stage blockchain and crypto startups.
  • Maven 11 Capital: A venture capital firm that invests in blockchain and cryptocurrency projects.
  • Master Ventures: A venture capital firm that supports early-stage blockchain and crypto projects.
  • AU21 Capital: A venture capital firm that invests in blockchain and cryptocurrency startups.
  • Waterdrip Capital: A venture capital firm that focuses on blockchain and crypto investments.
  • Lotus Capital: A venture capital firm that invests in blockchain and cryptocurrency projects.
  • YBB Foundation: A foundation that supports blockchain and crypto projects through investments.
  • Titans Ventures: A venture capital firm that invests in blockchain and cryptocurrency startups.
  • Chain Capital: A venture capital firm that focuses on blockchain and crypto investments.

These investors have contributed to Metis's funding rounds, helping the project achieve significant milestones and growth.

Halal Status of Metis

• Halal Status: Yes
• Reason: Metis is considered halal because it is a Layer 2 scaling solution built on Ethereum, aiming to provide faster and cheaper transactions while maintaining security and decentralization. Its primary purpose is to serve as the native token of the Metis platform, used for transaction fees, staking, and governance, which aligns with Islamic finance principles.