Metis has so far enjoyed a successful year with significant milestones achieved in the past few months. In what promises to be an action-packed end to 2021, the Ethereum-based layer two protocol is set to expand its ecosystem with innovative products.
Key developments Timelines
One of the major milestones that will be launched in September is the public launch of the Metis testnet. The launch is expected to herald new development. For example, community members will be able to create Layer 2 DACs (decentralized autonomous company) and bridge real assets from Layer 1 to Layer 2.
The development will also introduce the concepts of staking and yield farming to the Metis DAO ecosystem. As a result, $METIS token holders will be able to stake their assets and gain yield farming rewards.
The higher the community members of a DAC, the higher their mining powers enabling them to get more rewards from yield farming pools. Metis Dao will also support community development program projects once the public testnet is launched.
Startups and ecosystem projects will be provided support. This includes seed funding, community construction, marketing, and tech-related assistance. A third-party Swap platform and a launchpad DApp have qualified as the first projects to receive comprehensive backing from Metis DAO.
DAC community members will be eligible to stake $METIS token to mine new tokens when the projects launch. Metis is also a governance token, and DAC members can vote to decide whether to invest in these projects in exchange for their tokens.
In addition, DACs with higher mining power benefit from price discounts when acquiring token allocations. These incentives are part of the continuous efforts by Metis to promote its ecosystem and encourage the adoption of its native token $METIS.
Metis DAO will host its first-ever global hackathon in October. The event will involve collaboration with key stakeholders in the Ethereum community and involve innovative activities. Metis intends to attract new members to the project, including developers that will build sustainable projects on its layer-2 blockchain protocol.
Some of the benefits for the Metis community include token grants, mining opportunities, community building, and access to VCs. Following the hackathon, Metis will launch the beta version of its mainnet. This version will add improvements and allow projects to create their layer 2 tokens and improve the speed of transactions between L1 and L2.
Metis will also improve its middleware Polis, allowing developers better functions and templates to create and launch DApps with minimal hassles.
November to December
Metis intends to continue to release more updates on its mainnet infrastructure and expand its existing product ecosystem. In addition, the Layer-2 protocol will onboard new business partners, including DeFi protocols and projects involved in NFTs, games, and more.
These projects will utilize the improved Polis middleware to manage wallets, smart contracts and launch DApps. They’ll also leverage the existing DAC framework and tools to manage their community and business. These tools include voting, mining, task management, token transfers, and much more.
Metis expects that by the end of 2021, its ecosystem would consist of projects and DACs leveraging its low cost, high speed, and robust layer-2 protocol.
Metis is a blockchain platform building a user-friendly, scalable, and affordable Layer 2 framework for applications and businesses to migrate from Web 2.0 to Web 3.0. The protocol supports many applications, including decentralized exchange trading, yield farming, and lending via dApps that provide fast low-cost payments.
Metis makes it easy for developers and creators to build applications, communities, and Decentralized Autonomous Companies (DACs) via pre-set tools that are user-friendly, without the high costs and limitations of the Ethereum network. To learn more about Metis, visit https://metisdao.org/. To explore the company’s demo app on its Layer 2 alpha testnet, visit https://Alphatest.MetisDAO.org.