Metis is an Ethereum Layer-2 scaling solution aiming to solve the blockchain trilemma: that blockchains cannot be decentralized, secure, and scalable simultaneously. It also strives to solve Ethereum's biggest challenges: speed, cost and scalability.
Metis wants to help developers create and manage existing decentralized applications (dApps), while also supporting developers and entrepreneurs who want to build and launch new dApps. It also integrates the Decentralized Autonomous Company (DAC) framework into its Layer 2 infrastructure to help developers and businesses move from Web 2.0 to Web 3.0.
## Who Are the Founders of MetisDAO?
Elena Sinelnikova, Kevin Liu, and Yuan Su founded Metis in 2019, but the business didn't officially launch until Nov. 17, 2021.
Sinelnikova established other crypto projects prior to founding Metis, including the non-profit blockchain educational hub ‘Crypto Chicks,’ in 2017. She has a Master’s degree in computer science and experience working in blockchain, cybersecurity, software development, and as a full-stack programmer.
Kevin Liu worked as an investment manager and in strategic development before launching Metis. He has an undergraduate degree in management and an MBA from the Chinese Academy of Sciences.
Yuan Su studied computer science as an undergraduate and then did an MBA at the University of Toronto. After graduating, he worked as a software engineer and manager at IBM until 2019, when he co-founded Metis. He now also heads up development at CaseWare International.
## What Makes MetisDAO Unique?
MetisDAO differentiates itself from other protocols in a few different ways.
Metis users can transact quickly and cheaply on the Ethereum blockchain thanks to Optimistic Rollups, which batch multiple transactions into one transaction that is then processed on Ethereum. Its Layer 2 infrastructure uses Ethereum's security and decentralization to make transactions cheaper and faster.
Transaction data is usually stored on layer-1, whereas Metis stores most of its transaction data off-chain, with only the minimum viable data stored on its layer-1. This off-chain data is then placed in Memolabs storage by the Sequencer. When compared with a Layer 1 like Ethereum, storage on Memo Labs is substantially cheaper.
Metis also offers a modular framework, allowing developers to build and customize their own dApps using Metis’ infrastructure.
## What Is Metis’ DAOtribution Campaign?
MetisDAO is both a Layer 2 scaling solution _and_ a platform for building and running decentralized autonomous companies (DACs).
The MetisDAO Foundation has launched a grants program to empower contributors and communities to kickoff their DACs on KORIS called the DAOTribution Campaign. Through the DAOtribution Campaign, the MetisDAO Foundation opens weekly Kohorts for qualified applicants to submit grant proposals and receive funding through the Metis token.
## What Is the Metis Hybrid Rollup?
On March 2, 2023, MetisDAO announced that it was building “the first-ever Hybrid Rollup by combining optimistic rollup architecture with zero-knowledge proofs.” Although work on the rollup is still ongoing, Metis believes that combining both architectures will help it provide “a secure, developer-friendly Layer 2 for Ethereum developers to deploy all types of decentralized applications.”
Metis is an emerging decentralized autonomous organization (DAO) and blockchain project aimed at providing scalable, user-friendly solutions for developers to build and manage decentralized applications (DApps). Its DAICO model combines the advantages of DAO and ICO, offering a transparent and secure fundraising method. Leveraging the Metis Rollup's layer 2 scaling solution, it achieves high throughput and low-cost transaction processing, supporting large-scale DApps and providing a superior user experience. With simple and user-friendly tools and interfaces, as well as support for decentralized autonomy and community ecosystems, Metis fosters collaboration among developers, users, and investors, poised to become one of the leaders in the blockchain industry.
How to Buy METIS
1. How to Buy METIS on Exchanges
Step 1: Choose a reputable exchange platform
Select a trustworthy platform from numerous exchanges to make your purchase. Some trusted platforms include Coinbase, Binance, OKX, among others.
Step 2: Register an account
Create an account on the chosen exchange platform. You may need to provide personal information (such as phone number, email) to complete the registration process.
Step 3: Complete identity verification
For security reasons, some platforms may require you to undergo identity verification. Follow the platform's instructions, providing necessary identity information (such as country/ID number) and undergo facial recognition if prompted. Once your identity is confirmed, you'll receive notification.
Step 4: Link your bank or payment method
Link your bank account or other payment methods to the exchange platform for making payments when purchasing METIS.
Step 5: Purchase METIS
Find the option to buy coins on the exchange platform, select the C2C buying process, then input the amount of cryptocurrency you wish to purchase. Typically, you'll choose to buy USDT first and then proceed with the purchase method. Simply place your order, make payment to the seller, and you'll receive the cryptocurrency. Once the payment is completed, you can use your exchange assets to buy METIS.
Step 6: Store your METIS
After purchase, you can choose to store METIS in the digital wallet provided by the exchange platform or transfer it to a hardware wallet under your control.
Step 7: Security Tips
To protect your exchange account and METIS assets, it's essential to use strong passwords and enable two-factor authentication.
How to Buy METIS via Over-the-Counter (OTC) Trading
Over-the-counter (OTC) METIS trading occurs directly between buyers and sellers, bypassing exchanges or other intermediaries. Here are the general steps for OTC METIS trading:
Step 1: Find an OTC trading channel
Start by finding a reliable OTC trading platform or service provider. These platforms typically offer online marketplaces or ways to connect with brokers for trading.
Step 2: Register an account
Sign up for an account on the chosen OTC trading platform. You may need to provide some personal information (phone/email) to complete the registration process.
Step 3: Complete identity verification
For security purposes, some platforms may require you to undergo identity verification. Follow the platform's instructions to provide necessary identity information (nationality/ID) and undergo facial recognition or other verification steps.
Step 4: Browse the trading list
After logging into your account, browse through the platform's trading list to find METIS trades that interest you. You can choose trades based on the trader's reputation rating, trade volume, price, and payment methods.
Step 5: Select a trading partner
Once you find a suitable trade, click to enter the trading page and carefully review the trader's terms and conditions. Ensure you understand and agree to the trader's requirements, such as trade amount, payment method, trade time, etc.
Step 6: Negotiate trade details
After reaching an agreement with the trader, you can negotiate trade details such as trade amount, payment method, trade time, and location.
Step 7: Make payment
According to the agreement reached with the trader, use the chosen payment method to pay the METIS purchase amount to the seller.
Step 8: Confirm receipt
Once the trader confirms receiving your payment, they will release METIS to the METIS address you provided. You can check your METIS wallet balance after the trade to confirm its success.
3. How to Buy METIS through Decentralized Exchanges (DEX)
Buying METIS on decentralized exchanges (DEX) differs from purchasing other cryptocurrencies on centralized exchanges. Here are the general steps for buying METIS on DEX:
Step 1: Choose a METIS-supporting wallet
Create a new wallet supporting METIS assets, then select a decentralized exchange that supports METIS.
Step 2: Connect your wallet
Before using the DEX, you need to connect a wallet supporting the METIS blockchain. You can connect your wallet to the selected DEX via browser extension or mobile application.
Step 3: Deposit funds
In your wallet, select deposit and choose the asset you want to deposit (such as stablecoins). Follow the wallet prompts to complete the deposit process.
Step 4: Find the trading pair
Search or browse for the METIS trading pair on the DEX. Typically, you can find a search box or a list of trading pairs on the exchange's homepage or trading interface.
Step 5: Place an order
Once you find the METIS trading pair, you can choose between market or limit orders and input the quantity you want to purchase. Ensure you input the correct price and quantity in the order, then confirm the order.
Step 6: Wait for the trade to execute
Your order will be submitted to the METIS blockchain and wait for confirmation and execution by miners. Once the order is executed, you will receive the purchased METIS, which you can view in your wallet balance.
Step 7: Withdraw funds
After completing the trade, you can choose to withdraw the purchased METIS to your wallet for safer storage of your digital assets.
4. Official Channels for METIS Project Team or Community
Sometimes, the METIS project team or community may launch official channels for direct METIS purchases. This may include private placements, presales, or other forms of direct sales.