Metis (ETH) Layer-2 Scaling Solution powered by Rollup technology, to increase dApps. DAOs. and NFTs. Metis has launched its Mainnet Andromeda. The launch has come after the project began as a hard fork or backward-incompatible variation of the Optimism protocol. Also, the team launched a stake program.
Developers also announced that the Metis DAC creation and Staking program will begin on Friday, November 26th at 3:00 UTC. A detailed guide has been shared by the developers on how to join the staking program. The Metis Community DAC Titans DAC is also being announced. This DAC will be working on numerous community and charity-focused projects.
The Launch Edition NFTs are available in 15 numbers to help get things moving. These non-fungible token holders will have the opportunity to receive large increases in mining power, governance rights within Titans DAC and exclusive privileges at Metis IRL Events as a result of the update.
Rollup Tech has many benefits
Metis’s team points out that Rollup technology has certain benefits. This allows Optimistic Rollups, to combine many transactions in order to offer faster, more economical and highly-scalable user experience.
With the latest OVM 2.0 version and the documentation that the Optimism team provided, it has become clear that there have been considerable shifts in their initiative’s development roadmap: Optimism won’t provide sufficient decentralization, which is something that the project had initially set out to achieve.
Sharp Attention on Decentralization
Metis will still follow Optimism’s architecture, but will not be giving up on decentralization for a little added convenience, maintaining their commitment to offering a high level of scalability. Metis has outlined a three-pronged approach to make blockchain “accessible to everyone”
Metis plans to provide support for a Layer-2 Ethereum Rollup that will allow faster, cheaper transactions. Metis Layer-2 will be supported by a Layer-2 Ethereum Rollup solution. They also plan to develop a middleware utility that is non-code.
Metis is also supporting a Decentralized Autonomous Company or DAC infrastructure that’s set to go beyond the basic voting and governance of DAOs. This should allow users to deploy decentralized services on-chain, and get supported by the typical functions of a “real-world” company.
EVM Equivalence Framework: The Adequate Decentralization
Metis pointed out that the EVM Equivalence Framework will allow them to reach their decentralization goal. Metis stated that the group has identified a method to reach their decentralization goals and achieve EVM Equivalence. The path they have chosen matches that of the Metis Ranger System, as mentioned in their whitepaper.
It also includes the Layer-2 network. The Multi-VM is also included. This virtual machine allows for enhanced security and scalability of the Metis Layer-2 infrastructure. While transaction costs will not be as high as Ethereum Layer-1 level, they will remain within the range of $1-$2. Metis also announced its intention to actively participate in the Ethereum Layer-2 fight with an Ecosystem Fund of $100 million.
Metis now joins a rapidly-growing movement where Arbitrum, Optimism and others have been leaders in the industry. Genesi will manage the fund and provide support for initiatives within Metis. Genesi could be used for decentralized finance (DeFi), gambling, and DAO-focused projects.