Metis (METIS) Price



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About Metis (METIS)

Metis is a layer 2 scaling solution facilitating the creation of DACs (similar to DAOs) and dApps.

METIS is the platform’s native token; it’s used to pay transaction fees and can be staked to the network for an annual yield.

Metis leverages optimistic rollups to effectively scale the Ethereum ledger and reduce transaction costs, according to Cryptopedia. A popular layer-2 implementation, optimistic rollups work by processing Ethereum-based transactions in an off-chain environment. Once processed, individual transactions are batched into large bundles and sent back to the main chain (Ethereum). The term optimistic is due to the fact that all transactions are assumed valid unless otherwise challenged by a member of the network. If challenged the transaction can be validated using a cryptographic fraud proof.

Metis’ layer 2 network – referred to as Andromeda – is also enhanced through EVM-compatibility, creating an environment in which developers can deploy their Ethereum-based smart contracts to the protocol within a matter of hours.

Apart from enhancing Ethereum’s scale, Metis’ layer 2 is actively developing a full-fledged Web3 economy equipped with its own native Dapps and DACs.

DACs work to empower digital communities by facilitating governance, streamlining organizational management, and aligning incentives amongst members. Furthermore, DACs possess the ability to deploy their own native tokens and Web3/DeFi-based applications, documentation said. Specifically, DACs seek to improve on the DAO framework through reputation systems which work to weed out bad actors and incentive good ones by way of reward-bearing staking mechanisms.

Another piece of Web3 utility is Metis’ NFT bridge which allows users to transfer their non fungible tokens between Ethereum and the project’s Andromeda layer 2. Digital collectibles held on the platform can be stored via integration with the IPFS.

Also, Metis’ Polis platform serves as a key piece of middleware allowing developers to manage the smart contracts they’ve deployed on the platform.

In November of 2021, Metis gained the attention of the broader crypto community through the launch of a $100 ecosystem development fund that coincided with the release of the project’s mainnet, Yahoo Finance explained.

As of September 2022, there was some $50 million in value locked on the platform, according to DeFiLlama data.

When was METIS created and how much was it worth?

Launched in 2019, Metis is the brainchild of three co-founders: Elena Sinelnikova, Kevin Liu and Yuan Su. Prior to her efforts with Metis, Sinelnikova gained industry recognition as the creator of Crypto Chicks, a female-centric blockchain education hub. Sinelnikova currently serves as CEO of MetisLab Foundation, which is responsible for supporting Metis’s technological growth. Among those employed by the foundation is Natalia Ameline (Vitalik Buterin’s mom) who currently works as a technology researcher for the project.

In March of 2021 the protocol secured roughly $1 million in seed funding from a series of industry backers. This was followed by a $4 million private funding round two months later.

Metis’ eponymous native token, METIS was first released to the public through a simultaneous IEO and IDO in May of 2021. Tokens were initially priced at $5.

Data from CoinGecko shows that METIS traded sideways in the two months following its initial distribution, before rallying nearly 2,500% over the fall of 2021. METIS rallied again in late December of 2021 and into early January 2022, eventually rising to a record high of $323.54. The token price has experienced downward pressure amidst a turbulent market environment.  

How is the price of METIS determined?

A deflationary asset, METIS’s supply is capped at 10 million tokens, of which some 4.3 million are currently in circulation. According to Messari, 52.3% of METIS’ supply was initially reserved for various platform stakeholders, including early investors, the founding team and airdrop recipients. The remaining 47.7% of supply is set to be minted over the next 10 years. The anti-inflation mechanism will help the token from devaluing but market forces, like macro-driven risk-market sell-offs, and the general sentiment environment (bullish/bearish) are also a factor.

Why does METIS have value?

Similar to other layer-2 solutions, Metis’ value is derived from its ability to effectively scale the Ethereum ledger while also reducing its transaction costs.

Is METIS secure?

METIS is ERC-20 compliant and supported by a range of leading Ethereum wallets and exchange-based storage solutions. As a layer-2 scaling solution, the Metis platform leverages the notoriously robust security of the Ethereum mainnet which has recently transitioned away from Proof-of-Work (PoW) in favor of Proof-of-Stake (PoS).

What are the main benefits of METIS?


  • A layer-2 solution, Metis helps increase the scalability of the Ethereum ledger, while also reducing costs.
  • Metis is actively developing its own full-fledged Web3 ecosystem.
  • Metis’ NFT bridge allows users to move their NFTs between the platform’s layer-2 channel and the Ethereum mainnet.  

What do critics say about METIS?

That it’s battling for relevance amongst a crowded field consisting of established layer-2 players like Polygon, Optimism and Arbitrum.

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