MetisDAO is a Tier-2 scaling solution for Ethereum, launched in 2021, designed to build more robust, value-creating DAOs.
What is MetisDAO?
MetisDAO is one of the Ethereum Layer 2 scaling solutions. Launched in 2021, the project aims to create value-creating DAOs. Its vision is to transform DAOs into DACs, fully functioning businesses that can operate like existing companies but are decentralized. Instead of just governance and voting, DACs will be able to perform functions such as payroll, project management, HR and communications.
By using Optimistic aggregations compared to other Tier 2 solutions using zK aggregations, Metis aims for both greater scalability and decentralization.
Metis takes the concept of DAO one step further. How can resources be better managed, open source projects run, and members better encouraged within a community? Where the DAO enables users to participate in governance and voting, a DAC combines payroll, project management, communications, HR and more like a typical company, providing these plus management. In this way, a DAC enables the development of a fully functioning business without a CEO or boss running the ship.
Metis’ vision can be expressed as follows:
“Employees will be able to try ‘before they buy’ with prospective employers; employees have a much greater say in the company’s decision-making; identity voting mechanisms will play a formal role in governance; and full-time, monogamous work in a company may become the exception, not the rule.”
What is METIS Coin?
METIS coin is MetisDAO’s native cryptocurrency. Projects can register as DACs using the native METIS cryptocurrency. The DAC registration process is similar to a real-life company. If a person wants to register a DAC, they must first go through a registration procedure and stake their METIS coins. Registration fees are paid in local token METIS coin. A minimum stake of 10 METIS is required to create a new DAC.
As long as they meet the staking requirement, any organization in the world can register a DAC and interact with their community. The DAC structure is one of the highlights of the Metis ecosystem and is one of the reasons the token has gained popularity over the past years.
