Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 minutes to learn more

Metal DAO (MTL) Price

MTL

Buy

Please note: like most trading venues, we display the current mid-market rates in our price charts. When you trade, you get the current bid or ask price depending on whether you are buying or selling. There is always a slight difference between the mid-market and the current bid or ask prices. This is a natural result of how Exchange order books work.

Digital currencies are very high risk. Do not invest money you can’t afford to lose. Please consider the suitability of crypto for your individual position before trading.

About Metal DAO (MTL)

Controlled by Metal DAO, MTL is the native token of Metal Pay – a crypto-focused mobile payments platform. Within the Metal ecosystem, MTL is used to reward platform users through a concept known as Proof-of-Processed Payments (PoPP).

Built upon a user-friendly interface similar to that of Venmo and CashApp, Metal’s goal is to provide an all-encompassing payments infrastructure that allows users to seamlessly send cash and crypto to friends and family.

Metal’s comprehensive crypto marketplace allows users to buy/sell some 50 digital assets including Bitcoin, Ethereum and Polygon.

According to Messari, all cash balances held within the Metal Pay app are FDIC insured. As such, users can choose to transact with this preexisting balance or through a linked bank-account, debit or credit card. Moreover, this cash balance can be used to purchase digital assets via Metal’s in-app marketplace and is available for withdrawal at all times.

The MTL token provides utility when transacting on the Metal Pay platform. As noted by the project’s whitepaper, participating merchants can use MTL to purchase credits entitling them to discounted processing fees. Likewise, non-merchant users are said to receive discounts when making MTL-denominated payments on the network. Per Messari, MTL holders are also entitled to various fee-reductions when purchasing cryptocurrencies on Metal Pay’s marketplace. In this vein, all users owning more than 10,000 MTL realize 0% fees when buying/selling other digital assets on the platform.   

Apart from conferring a chance for discounts, MTL is also provided as a reward to platform users through the proprietary PoPP system, providing MTL to registered users who send funds on Metal Pay. As described by the Metal whitepaper, these MTL-based rewards can reach up to 5% of the user’s total transaction volume. For example, a payment of $100 between friends would see $5 worth on MTL sent to both the sender and receiver of funds.

In terms of future developments, the community is on the lookout for the Metal Pay Credit Card set to distribute monthly crypto-denominated rewards to its users. 

When was MTL created and how much was it worth?

MTL is the brainchild of San Francisco-based development firm Metallicus Inc. which first launched the token/project in 2017. Founded in 2016, Metallicus is currently spearheaded by a trio of executives; CEO Marshall Hayner, CTO Glen Marien, and CFO Irina Berkon. Per Messari, Hayner and Marien are also credited as co-founders of the platform.

Shortly after launch, Metal raised roughly $550,000 from a series of private equity investors, while another $2 million was raised via a set of token sales in 2017. Data from the Metal whitepaper shows that MTL was first distributed through these token sales at an average price of $0.18.

Data from CoinGecko shows that MTL reached roughly $13.53, an all-time high just after its launch. MTL rallied again in early January of 2018, before entering a two-and-a-half-year consolidation period in which the token shed much of its value. MTL’s long slumber was finally awakened in January of 2021 as the broader crypto market soared, with the token appreciating 1,600% to $7.18 within an eight-week span from February to March of 2021. 

How is the price of MTL determined?

MTL’s price is partially a factor of its deflationary nature. Only 66.6 million MTL tokens will ever exist; only some 64.6 million are currently in circulation. In terms of tokenomics, roughly 31% of MTL’s total supply was distributed via a series of token sales in 2017, while a total of 26.3 million tokens are set to be released through Metal’s PoPP program. Moreover, some 13.4 million tokens were reserved for platform development. All remaining supply (3.4 million MTL) was allocated to Metal’s founders and core development team. Demand for Metal’s mobile payment services will weigh on MTL’s price prospects as well, alongside general market conditions.

Why does MTL have value?

MTL’s value is dependent on the utility it provides within the Metal Pay ecosystem. Users will likely find worth in the token’s ability to confer discounts when making payments and buying digital assets on the platform. If mass adoption goals are even partly met, the native asset has the potential to appreciate over the long-term, given its deflationary nature.

Is MTL secure?

A standard ERC-20 token, MTL is supported by a range of Ethereum wallets and exchange based-storage solutions. In terms of platform security, Metal’s smart contracts were audited by OpenZeppelin in June of 2017. 

What are the main benefits of MTL?

  • MTL provides various discounts/fee reductions within the Metal Pay ecosystem.
  • Metal Pay offers a streamlined user interface that enables users to quickly send cash/crypto to peers.
  • Metal Pay’s in-app marketplace allows users to purchase more than 50 unique digital assets. 
  • MTL tokens are rewarded to active platform users through a concept known as Proof of Processed Payments (PoPP). 

What do critics say about MTL?

Metal is trying to carve out a niche within an industry already dominated by large players like Venmo, Cash App and Zelle.

How to buy Metal DAO (MTL)

With Uphold, you can buy digital currencies in just 11 clicks - even if you don’t have an account yet. 

Nothing could be easier.

Here’s how fast it is to get started:

1. Go to Uphold.com and click sign up.

2. Enter your email address and personal details. 

3. Click the link we send you and create a password

… and you’re off to the races!

Just start trading.

Get more coin for your coin

0% withdrawal fees

Low spreads

Learn more

Uphold Europe Limited, Reg No. 09281410, Registered Office: Eastcastle House, 27/28 Eastcastle Street, London, United Kingdom, W1W 8DH

© Uphold 2024. All Rights Reserved.

Uphold (FRN: 938277) is registered with the Financial Conduct Authority (FCA) for AML purposes and complies with the Money Laundering, Terrorist Financing and Transfer for Funds (Information on the Payer).

Uphold is also an EMD agent (FRN: 900577) of Optimus Cards UK Limited (FRN: 902034) which is authorised and regulated by the Financial Conduct Authority to issue e-money pursuant to the Electronic Money Regulations 2011.

The purchase, sale and custody of cryptoassets are regulated by the FCA for anti-money laundering purposes but this does not indicate any approval by the FCA of Uphold’s cryptoasset activities. Cryptoassets are very high risk and speculative.  When purchasing, selling and/or holding cryptoassets, you will not have access to the Financial Ombudsman Service (FOS) or the Financial Services Compensation Scheme (FSCS) if something goes wrong. You should be aware and prepared to potentially lose some or all of your money. You should carefully consider whether trading or holding cryptoassets is suitable for you in light of your financial circumstances.

Fiat money payments and balances (fiat is another name for traditional currencies, such as GBP, USD and EUR) constitute regulated e-money and payment services. In providing fiat balances, you are being issued with e-money by Optimus and Uphold is acting as its agent. See specific e-money terms. E-money is not a deposit or investment account which means that your e-money will not be protected by the FSCS. Your funds will be held in a designated safeguarding account with a regulated financial institution. E-money will not earn any interest.

Additional risk warnings are contained in Uphold’s Terms & Conditions