The token created by Vitalik Buterin’s mother started to rise. cryptocoin.comAs METIS, we have compiled for you what is METIS and the reason for its increase.
This is not the first crypto experience
This week has started extremely well for cryptocurrency investors. Bitcoin (BTC) and altcoins managed to stay on the optimistic side. However, while BTC is going through modest bullish moments, other cryptocurrencies are rising with impressive weekly growth and one of them is MetisDAO (METIS).
The altcoin has gained 20% in the last seven days. But before we know what this token is and what may have triggered its growth, there is some curiosity worth noting. MetisDAO was started with the participation of a woman named Natalia Ameline. But why is this important? Because she is the mother of Vitalik Buterin, co-founder of Ethereum (ETH).
However, those who think that Ameline is only interested in the METIS token are wrong. His journey in the crypto market was marked by the non-profit organization CryptoChicks, which he founded with Elena Sinelnikova. This association focuses on educating women so they can increase their leadership potential in the blockchain and technology industry.
What is METIS and how did it come about?
MetisDAO’s idea is precisely to solve Ethereum’s scalability problems. In this sense, the project is tier 2 of the Optimistic Rollup type, so it manages to take advantage of gas rates and improve the transaction process of the ETH blockchain. The mainnet launch was handled by Metis Labs, a member of Genesi DAC, a decentralized autonomous company (DAC) led by Ameline.
Metis has a decentralized storage used for collection data and fraud-proof query processes. This storage allows many transactions to be aggregated at the same time, thus reducing the cost of each transfer. This makes layer-2 stand out in many areas such as:
- Low gas rates.
- Excellence in DeFi.
- The ultimate NFT experience.
- More functionality for decentralized applications.
Another key goal of Metis is to build more robust DAOs that truly generate value. In this sense, the project aims to transform DAOs into DACs, which are decentralized autonomous companies. In short, the second mode is built with rules like a computer program but transparently.
Community members control DACs. In other words, they can even operate like companies seen in the traditional market with their management and HR functions but without a centralizing figure. Everything can be done transparently through blockchain smart contracts.
Projects related to Metis
The scalability solutions provided by Metis allow multiple projects to exist on its platform. NetSwap decentralized exchange (DEX) is one of the dApps available on Metis. DEX has a quick swap and gas fees cost pennies.
Yet another Metis project linked to the decentralized finance sector, Hera Finance, a DEX aggregator that connects AMM pools regardless of provider, facilitates the crypto trader looking to trade at the most attractive market rates.
What is behind the 20% increase in the METIS token?
First, the crypto market is experiencing relief in the early days of 2023. Because of this, the prices of several altcoins are rising and this optimism has helped METIS become one of the highlights. METIS is trading at $20.6, up 5.11 percent in the last 24 hours
Second, the token could be receiving some of the capital flowing into Tier 2 projects such as Polygon (MATIC) and Optimism (OP), which increased 10% and 31% respectively in a week.
The scalability solutions industry could come to the fore this year as Ethereum could help the blockchain gain greater efficiency. It is a great option for investors and developers who do not want to give up the security of the leading altcoin by going to an ETH competitor, but also do not want to lose their money with high gas fees.
