Metis (METIS)

Transaction Fees and Staking

Metis tokens (METIS) are used to pay for transaction fees on the Metis network and can be staked by users to earn rewards. Validators called Rangers stake METIS to help secure the network.

Decentralized Autonomous Companies (DACs)

Metis enables the creation and management of Decentralized Autonomous Companies, which are blockchain-based companies that handle payroll, project management, HR, and communications in a decentralized way.

Smart Contracts and dApps

Metis supports fast and cheap deployment of smart contracts and decentralized applications (dApps) using its Ethereum-compatible virtual machine (MVM), making it easier and cheaper for developers to build on Ethereum.

NFT Support and Cross-Chain Features

Metis offers NFT minting, storage, and a bridge to Ethereum, allowing users to create and transfer NFTs between Metis and Ethereum networks.

Developer Tools and Ecosystem

Metis provides a software development kit (SDK) and middleware to help developers build and manage smart contracts and decentralized businesses efficiently.

AI and Specialized Use Cases

Metis integrates AI infrastructure with its blockchain, supporting AI applications and on-chain AI execution, including large language models, through its Hyperion network.

Business and Community Growth

Metis aims to bridge Web2 businesses to Web3 by making blockchain technology accessible for business owners and developers, fostering a community-driven ecosystem with governance and reputation systems.

Pros

• Metis is a Layer 2 scaling solution for Ethereum that reduces gas fees and speeds up transactions by using Optimistic Rollups.
• It supports Ethereum-compatible smart contracts through its Metis Virtual Machine (MVM), making it easy for developers to migrate or build dApps.
• Metis introduces Decentralized Autonomous Companies (DACs), which are user-friendly, business-oriented blockchain entities with built-in governance and reputation systems.
• The platform has a dual-network architecture separating general dApps and AI/data pipelines, optimizing performance for different use cases.
• Metis leverages advanced technology like Rust-based AI agents and on-chain AI inference, positioning itself as a leader in blockchain-AI convergence.
• It has a capped token supply of 10 million METIS, which can add scarcity value.
• The ecosystem is growing with continuous improvements and expanding infrastructure.
• Metis offers incentives for community participation through contribution-based governance, encouraging active involvement.
• It is available on major exchanges like Binance, Coinbase, and Kraken, with good liquidity and trading volume.

Cons

• Metis currently has a smaller ecosystem of decentralized applications compared to more established Layer 2 solutions, meaning adoption is still limited.
• The sequencer in Metis is centralized, which may allow operators to prioritize or reorder transactions.
• The total value locked (TVL) in Metis is still low relative to the broader DeFi ecosystem, indicating room for growth.
• The METIS token price has been volatile and has experienced significant declines from its all-time high.
• Some users may find the setup process, such as configuring wallets and swapping tokens, more complex compared to other tokens.
• Wider adoption and ecosystem expansion are needed for long-term success.

Founders of Metis

Metis was co-founded by Elena Sinelnikova, Kevin Liu, and Yuan Su. Elena Sinelnikova has a background in blockchain, cybersecurity, and software development, and she previously founded the blockchain educational hub Crypto Chicks. Kevin Liu and Yuan Su also bring diverse experience, with Kevin having a background in finance and product leadership. The team officially launched Metis in 2021 after founding it in 2019. Natalia Ameline, who is Vitalik Buterin’s mother, is also involved as a decentralization coordinator and technology researcher.

Investors in Metis

Metis has attracted investment from notable institutional investors and venture capital firms. Among the known investors are Digital Finance Group and Master Ventures. These investors are involved in a committee that helps allocate a $100 million ecosystem fund called Genesi, which supports projects joining the Metis ecosystem. This fund aims to boost development across various crypto sectors like DeFi, gaming, and DAOs.

Halal Status of Metis

Metis is considered halal because its business model provides genuine utility by offering blockchain infrastructure services that help deploy decentralized applications efficiently. The Metis token is used for transaction fees, staking, and governance within its ecosystem, which involves the exchange of real value and aligns with halal principles. The token distribution and use cases avoid interest (riba) and excessive uncertainty (gharar), making it compliant with Islamic finance guidelines.