EXTENDED DD POST ON METISDAO, THIS WILL BE A LONG, DETAILED THREAD:
As most people are aware, the gas fee crisis that has hit Ethereum this summer has plagued its many users. Without the availability of a viable L2 solution, it will remain an ongoing problem until ETH 2.0 is built, tested and functional (which may not be until mid 2022 or even into 2023). It is worth noting however that the release of ETH 2.0 will not signal the end of L2's as even Vitalik, Co founder of Ethereum has recently stated in an interview that when ETH 2.0 is eventually released, L2’s will still be required for Ethereum to realise its full potential and functionality.
While Optimistic Ethereum and Arbitrum’s Arbitrum One gather the most headlines and excitement as they gear up for public launch, they are just two of several rollup solutions nearing completion.
Metis is one of these solutions. It is a fork of Optimism that aims to improve upon its currently more popular competitors. Metis seeks to offer the standard benefits of optimistic rollups like low fees (<$1), speed (less than one second), and Ethereum-level economic security. But it plans to differentiate its platform by providing native data storage, faster withdrawals to the Ethereum layer 1 main chain, and improved usability for DApp providers.
This is a true hidden gem (and I do mean hidden, as marketing has been rather quiet considering its potential) that has enormous potential to also experience a parabolic price movement like Matic had earlier this year.
If Metis had Matic’s market cap, it would be over $9000 per token!! Metis will no doubt be in the hundreds and most likely thousands in the short and mid term, which is why at a 80m market cap it is such a gem!
If Metis has the market cap of other competing L2s:
LoopRing — price would be $866
OMG — price would be $1535
Celer — price would be $498
For the rest of the comparisons you can do it yourself at https://www.marketcapof.com/metis-token/matic-network
Also, it currently is only available to purchase from a CEX on Gate.io, but will be launching on multiple exchanges, confirmed by the team, around launch time. This is an optimal time to get in, either on Uniswap or other DEXs. While it is starting to get noticed by CrypoTwitter, notably the following influencers:
– ElonTrades – Carl from the Moon
– RonBubble – BlockChain Whispers
– CMTopDog – TerraNova
– Murfski – Scott Melker
– Ash – Suppoman
Now is the ideal time before EVERYONE apes in and before centralized exchange listings, which is imminent.
$METIS – Metis.io
Launched May 13
1 M Hackathon: October 2nd – November 30
Mainnet Launch: Early November
TL;DR: This project will be a a key part of Ethereum’s future and Web 3.0, I expect it will 3x in the short term, and 5x-10x by End of Year. That would be $180+ short term, and $300-$600 by EOY.
If Metis had just ¼ the market cap of Matic, price would be $2250.
Key differences between Metis and other L2 solutions are withdrawal times of hours compared to days, transaction speed, Polis middleware, and DACs, and it having its own native token when compared to Optimism and Arbitrum.
Check out the Messari report here: https://messari.io/article/optimistic-about-metis
This is an impartial report that goes in detail on what Metis is, what they are trying to do, and an overview of their unique tech compared to other L2’s.
CONTINUE READING FOR AN IN-DEPTH (LONG) DUE DILIGENCE LOOK AT METIS BELOW:
What is Metis, what are they doing, and why should you care?
In one line – The overall infrastructure that Metis is building: Layer2+Polis Middleware+DAC, is for the collaborations in the web3 world.
In two lines – It’s doing much more than a Layer 2, with faster withdrawal times and additional features, and has the potential to be THE premier L2 on Ethereum, and compared to other Optimistic Rollups, has a token with a very limited supply.
In three lines – The entire goal Metis is to build a whole web3 infrastructure. So, Layer 2 scaling to get them cheap and fast transactions, builder mining program which will allow builders on the Metis network to generate a stack of $METIS tokens from the transactions they made, then DACs to run an entire company ON CHAIN, with Polis Middleware which allows ANYONE to create a DAC with no coding templates!
Tokenomics (taken from the whitepaper):
- Total supply 4,930,000 tokens
- Current supply 1,260,399 tokens
- Token unlocks are on the 13th of every month
- Team has pushed back the larger token unlock on November 13th back 3 months
As of 11/1
· Market Cap: 79,342,941
· Price: $62.41
All doxxed, experienced team with DEEP connections in the industry. The Metis story is an evolution of CryptoChicks, which was founded by Elena Sinelnikova & Natalia Ameline. Crypto Chicks is one of the largest blockchain advocacy and education non-profits in the world, with a presence in 56 different countries.
The growth of CryptoChicks led Elena and Natalia to form a large ecosystem of smart blockchain people, and ultimately a "hatchery" to launch new blockchain projects. It was there that Elena met Yuan Su. Yuan is an absolute genius. He started coding at age 6. He has an incredible analytical mind and massive ambitions. Yet he's a genuinely great dude, very hip to everything happening in the blockchain and crypto worlds. When he met Elena he was one of the lead devs for IBM's Hyperledger project. Then there was Kevin Liu. Kevin understands product development and team building better than anyone I've ever met. He's a serial founder who to that point hadn't found the perfect project.
Together the 3 of them co-founded Metis, with the EXACT same goal of CryptoChicks: to make blockchain easy and accessible to EVERYONE, from curious coffee-shop ladies to your grandpa.
In addition to the outstanding dev team, marketing team, founders, and partnerships, a big strength of the Metis team would not be complete without mentioning Natalia Ameline. Natalia is the co-founder of CryptoChicks with Elena Sinelnikova, and a lead technical advisor for Metis. She is listed on the Metis website and has appeared at conferences with Metis.
Natalia is the mother of Vitalik Buterin, the founder of Ethereum. This is not widely advertised by the team or even in the community, as the main focus is on the technology behind Metis, its partnerships, and its development. You can connect the dots as to the value of having such a high profile and well connected team, especially after launch, but now the focus is on what the Metis team has accomplished and will continue to accomplish.
The Metis community is really amazing, one of the most experienced and mature Telegram groups in crypto. Because of its strong fundamentals and long term approach, it has attracted more experienced members, those with deeper pockets and a fundamental understanding of DeFi and the overall crypto ecosystem. This is not a pump & dump or young/dumb, wen moon community. Developers are active in the main chat and discord, and there is regular interaction with some of the bigger influencers that have spread the word about this gem to their community, as well as made videos about Metis.
Here are some great introductory videos:
CMTopDog Video: https://www.youtube.com/watch?v=KRYtM-489Ss
Suppoman’s Video: https://www.youtube.com/watch?v=dF8qaXTkpeA
N2 Flow Digital Asset Management: https://www.youtube.com/watch?v=9f2xBqBR9j0&t=971s
By far the best part of the community is the Metis Team. Their communication is unmatched, both with technical questions, onboarding new members with answers to basic questions, getting feedback from the community, and providing updates on development. Jonah leads the marketing and business development teams, and is very active in Telegram both publicly and privately. One of Metis’ biggest strengths outside of its fundamentals and tech, is Jonah and his team, and they continue to shine and inspire confidence. Head on over to their TG channels here:
Main Chat: https://t.me/MetisDAO
Traders Chat: https://t.me/MetisDaoTraders
Metis is being TRIPLE-audited ahead of our Andromeda Layer 2 network launch, part of their commitment to ABSOLUTE adherence to the highest security standards before any network release. They have partnered with Armors Security, one of the largest blockchain security and auditing companies in the world, and have already completed two successful audits with .
$1 MILLION Metis Hackathon, lasting two months, that has thus far attracted hundreds of developers; Their core Hackathon marketing team meets every day to plan strategies, attract more developers, and attract more partners. When the event is over, hundreds of new DApps will be deployed on Metis. If you compare this to Matic’s development, who had a 60
Heavy engagement across all social media, especially Twitter, Telegram, and Discord.
Sponsorship of ETHOnline to reach out to the Ethereum developer community.
Outreach to numerous Ethereum developer groups on Discord and Telegram.
They are about to launch ad campaigns on Twitter and Facebook, centered around Hackathon.
They have a guerrilla marketing agency publishing articles for us constantly about the Hackathon, in both mainstream crypto publications and more developer-focused ones.
That agency is also constantly pumping up engagement for Metis progress on Reddit, 4Chan, and other channels.
Metis has dozens of early investors who we reach out to all the time to push and promote their progress. Some of them do so in very visible places like social media. Others do so within private whale groups, VC and investor communities.
A lot of the marketing efforts are geared toward China, which has been the largest and supportive market from day one. If you speak Mandarin and/or live in China, you can see the volume of those marketing efforts.
They’ve conducted community promotions of all kinds, from airdrops in the early days to constant AMAs in other communities to the current $1000 network naming contest.
Between Labor Day and November Meits is attending about 7-8 major conferences all over the world. This week, core team members were in Lisbon for two of the industry’s largest conferences. In the coming weeks they’ll be in NYC, Russia, and lots of other major locales for huge conferences, and they have got the Best Startup Award at BILife_Forum conference.
In the past two weeks they’ve made multiple hires, tripling the size of their marketing team. Their new hires come with tons of experience in both the blockchain and traditional business worlds. They have vast experience when it comes to everything from traditional marketing metrics such as KPIs to creative community approaches and influencer campaigns. They’re also spread out all over the world, such that the company effectively runs on a 24/7 schedule, with much of their core team in Canada, and then stretching all the way across the globe to Ukraine, India, China, Australia, and beyond.
Round-the-clock business development efforts and outreach. The best marketing in blockchain is to build the most robust ecosystem possible. Metis is meeting with Web2 and Web3 projects of all sizes and types. On average the team is taking about 5 BizDev video calls per day with new prospects.
Metis talk to top-tier exchanges all the time. Blockchain/crypto is all about leverage. As a project grows and gains adoption, the biggest exchanges go from being reluctant to even talk to you to asking for half a million bucks (or more) to list, to eager to list you for free for fear of missing out. They’ve seen this shift occur in real time, as the quality of their exchange conversations has grown a lot in the past six months. Obviously once they’re listed on the largest exchanges, awareness and interest in the project (and token) will skyrocket.
The upcoming staking program is a major, major marketing tool. Pumping starting APYs of 29000% has (and will continue to) attract lots of attention.
One important thing to note, is that Metis is the only one of these solutions that has its own native token!
Metis’ Layer 2 solution and the resulting fast and cheap transactions are merely the way in. The key differentiators are:
1) Withdrawal time (compared to Arbitrum) Hours vs. Days! With ambitions to go on in minutes.
2) IPFS data storage: enabling cheap on-chain storage of massive amounts of data, such as NFTs (neither Ethereum Layer 1 nor ANY other scaling solution does this)
3) Polis Middleware: enabling BOTH blockchain projects and NON-blockchain projects to integrate onto our Layer 2 with ZERO coding experience required (we ALWAYS emphasize that our entire raison d'etre is to make integrating onto blockchain fast and easy)
4) Builder Mining, i.e. EVERY time a DApp performs a transaction on our Layer 2, that DApp generates token rewards, this is a KILLER feature that our rivals don't offer
5) DACs: The entire goal of the company is to build a whole web3 infrastructure. So, Layer 2 scaling to get them cheap and fast transactions, builder mining to generate a stack of $METIS tokens, then DACs to run your entire company ON CHAIN with all the payroll, accounting, messaging, and other features seen in "real life companies", with the added advantage of staking and mining real $METIS tokens to both grow their stack and to have more tokens for utility purposes to run their company on chain. Also there will be templates for the DAC, meaning you will be able to pick the template toc company/community etc…, and on top of that you will be able to modify them to suit your needs. (More info about DACs here: https://metisdao.medium.com/what-is-metis-what-the-heck-are-dacs-whats-the-deal-with-staking-ba25f2c274ca )
6) Netswap: Layer 2 DEX with swap/trade functions, with other functions on top like staking, and Launchpad which will enable Metis holders to participate in special IDO and pre-IDO which was available only for whales before.
Although I believe there is very little chance of losing money long-term when investing in $METIS at the sort of prices before it gets listed on multiple exchanges, you should remember there are no guarantees in the crypto market and you should never invest money that you can’t afford to lose. Other than this – DYOR, verify all details yourself and make your own calculated decisions. A good place to start is to directly approach the team on their official channels.