Metis launches US$100 million fund, is it a disguised offer or is it a down-to-earth undertaking?

Author: DeMan

The Ethereum Cancun upgrade is about to be launched, and L2 projects including Metis may benefit from this. In this regard, Metis’ recent data performance has attracted widespread attention.

Metis’ core technologies include an optimistic governance mechanism based on the Optimistic Rollup concept and the Metis Virtual Machine (MVM). Together, these technologies support complex business and data processing while providing a high degree of scalability and flexibility. Metis' technological innovation also includes support for microservice architecture, allowing developers to flexibly build and expand applications.

Metis uses IPFS technology in terms of privacy protection to ensure the security of sensitive data. In addition, its virtual machine is compatible with the Ethereum Virtual Machine (EVM), which lowers the learning threshold for developers and enables more developers to easily use the Metis platform.

The following introduces Metis’ recent data results and technical performance.

Short-term growth trend: Metis’s total market capitalization, trading volume and single currency price continue to rise

In a recent official tweet of MetisDAO, MetisDAO showed the overall performance of its ecosystem. The value locked (TVL) increased by 300% in a week to a total of $400 million, and this growth is clear in the chart.

Looking at the latest data of L2BEAT, you can see that its TVL has reached 550 million US dollars, an increase of 403.95% in 7 days, and its ranking in Layer 2 has reached 5th, which is comparable to zkSync Era’s 570 million. .

From November 26, 2023 to 2023 From some key indicators on December 25, 2018, including market value and trading volume, it can be seen that Metis, which was originally mediocre, suddenly experienced a sharp rise in a short period of time. Its market value increased from $82,675,117 on November 26, 2023 to $208,633,629 on December 25, a growth rate of approximately 152.5%; its trading volume increased from $2,646,640 on November 26, 2023 to $21,537,835 on December 25, an increase of The rate is about 714.1%.

The Metis Ecosystem Development Fund has been established and will soon launch a decentralized sequencer.

Metis EDF was mentioned in the previous tweet, which may be an important factor causing this fluctuation. One reason is the $100 million Metis Ecosystem Development Fund created by the MetisDAO Foundation to accelerate the growth of its ecosystem.

Just like the official description, the establishment of Metis EDF not only marks MetisDAO’s deep investment in its ecosystem, but also demonstrates its ambition and innovation capabilities in the field of blockchain technology. The fund will allocate 4.6 million METIS tokens to support a variety of activities including sequencer mining, retroactive funding, and new project deployment to further promote the diversification and sustainable development of the Metis ecosystem.

It is worth noting that the Metis EDF Fund Before the allocation, Metis has another important move, which is the official launch of its decentralized sequencer (sequencer) expected to be in the first quarter of 2024. By then, Metis is expected to become the first to decentralize its sequencer (sequencer). )’s OP rollup, a move expected to further improve the efficiency and transparency of its network, which will bring new development opportunities to the Metis ecosystem.

The sequencer is a key component of the second layer network, responsible for packaging and delivering users' transactions to the main Ethereum blockchain. A decentralized sequencer will disperse power and reduce censorship and manipulation. The possibility of transactions while improving the stability and reliability of the network. This mechanism not only improves the efficiency of transactions, but is also an important link in ensuring network security.

It is worth mentioning that, as a Layer 2 DAO basic protocol located in Toronto, Canada, MetisDAO focuses on the creation and management of decentralized self-organizing companies (DAC). It is named after Metis, the Greek goddess of wisdom, symbolizing wisdom and strategy. MetisDAO promotes the development of decentralized applications in an efficient, scalable and low-cost environment at Layer 2 through its unique DAC framework.

Metis team introduction: The core founders are mainly women, including Buterin’s mother

Metis provides a multi-functional blockchain infrastructure based on Layer 2 technology, aiming to Supporting various applications, such as NFT platforms, decentralized social media, developer communities, etc. This highly scalable infrastructure makes it an ideal platform to support diverse blockchain applications.

Co-founder and CEO Elena Sinelnikova is one of the core driving forces of Metis. Not only is she the co-founder of Metis, she is also the founder of the blockchain non-profit organization Crypto Chicks. Crypto Chicks is a women’s organization focused on blockchain education, aiming to provide women with opportunities to learn and enter the blockchain field. Sinelnikova’s background not only demonstrates her deep understanding of blockchain technology, but also demonstrates her commitment to promoting diversity and inclusion in the industry.

Closely related to it are her good sisters Natalia Ameline is the mother of Vitalik Buterin, the co-founder of Ethereum. She is also another initiator of Crypto Chicks. Ameline’s participation not only adds extra credibility to Metis, but also brings deep knowledge to the project. The industry connections and influence are one of the reasons why many people say that Buterin’s mother gave Metis a platform.

Metis’ other co-founders include Kevin Liu and Yuan Su, who co-founded this Ethereum second-layer scaling solution based on Optimistic Rollup in 2018. Since its establishment in 2018, Metis has completed angel and seed round financing of US$1 million in 2021, as well as US$3 million in Series A financing. The successful raising of these funds further proves the market's confidence and expectations in the Metis project.

The future of Metis is still unknown, but the development of L2 will provide technical convenience for Web3

Metis’ technological innovation, ecosystem growth, and team background all indicate its role in the region. The potential of blockchain technology and decentralized finance. However, as with any emerging technology or project, Metis' long-term success will depend on a variety of factors, including market acceptance, the stability and sustainability of the technology, and its continued adaptability to changing industry conditions.

Therefore, for investors or technology observers who are interested in Metis, paying attention and continuously observing its development will help to better understand its performance in the market and its performance in the market. potential impact.

Whether Metis can realize its ambitions and carve out a niche in the highly competitive blockchain space will be a topic worth watching over time.