Thread by @DermanCapital

@MetisDAO: A Diamond in the Rough of #ethereum L2s

🧵 #Metis / $Metis

1/ @MetisDAO is an extremely ambitious project that seeks to build a $ETH L2 with EVM Equivalence and higher decentralization than other L2s

2/ @MetisDAO started as a hard fork of @optimismPBC

Andromeda, the L2 mainnet, was implemented in Mid November, and is very impressive relative to other L2s by using parallel sequencers that allow for infinite scalability (theortically) unlike other optimistic roll ups

3/ $METIS has a <1 second transaction finality compared to Optimism which is much longer

I have yet to experience as near instant transactions as Andromeda across all alt L1 and L2 chains

4/ Transaction costs are $2-5, currently

Even better, the launch of IPFS technology which will drive transaction cost to a few cents

Once storage layer is implemented with partners @memo_labs and @myelnet

https://twitter.com/MetisDAO/status/1465679636482908162?s=20

5/ Optimistic Rollups have a 7-day withdrawal to L1

Metis has a 7-minute withdrawal period using the @CelerNetwork Andromeda-Ethereum bridge

@zhusu mentioned this issue on the Uncommon Core podcast that sending 3k ETH on Arbitrum took a week

6/ @MetisDAO has a strong value proposition over other L2 solutions and the market has responded skyrocketing $METIS to 5th in TVL

Even almost having more TVL than its parent @optimismPBC

7/ $METIS has a long way to grow to reach @0xPolygon

$MATIC trades at 3x TVL while $METIS is 1x

8/ The ecosystem is growing everyday

9/ $METIS DeFi is growing quickly. @netswapofficial has $189mm TVL with ~100% 7d% since the $NETT farm fair launch

10/ @MetisDAO is building NO-CODE integration via smart contract templates known as the Polis platform

This helps developers with zero blockchain knowledge launch smart contracts, resulting in fast development of contracts built securely and efficiently

11/ And to help grow the ecosystem even more on top of NO-CODE integration, @MetisDAO has a $100mm ecosystem fund
thedefiant.io/metis-latest-o…

12/ Let's not forget decentralization, a key focus of the @MetisDAO team

The team is building Decentralized Autonomous Company (DAC) infrastructure, "enabling anyone to build decentralized businesses on-chain, with all the real-world functions of a real-world company"

13/ Early investors are limited to 20% of the supply

While half of the lifetime supply is reserved for community mining purposes over 10 years

And the Builder's program has 30% of all gas fees rewarded to each DApps contribution to the ecosystem

metisdao.medium.com/decentralizati…

14/ The team was founded by @ElenaCryptoChic and @Natalia_Ameline

Oh, and @VitalikButerin 's mother is a tech researcher for @MetisDAO...

@ElenaCryptoChic knows Vitalik and his family since he was a child

15/ Early investors include @AutonomyCapitaI, @7oClockCapital, @master_ventures, @InnMindcom, the Ignition and Apollo-X launchpads, and Ignition China

16/ In the past week, @MetisDAO breached 30k wallets among many other updates

17/ More coming??

https://twitter.com/MetisDAO/status/1476625717580509197?s=20

18/ Great follows for more content on @MetisDAO

@Cryptoyieldinfo
@plebonacci
@BillyBobBaghold
@AdrianStarr108
@storm29003988
@Crypto_Puppy_

19/ As the scalability war heats up between alt L1s and ETH L2s, @MetisDAO has high potential to compete with the likes of $SOL, $AVAX, and $MATIC, meanwhile it only has a mkt cap of ~$400mm and trades at 1x TVL

20/ Oh and did I forget to mention that while $BTC is down ~40% the past 2 months, $METIS is up 100%+

Don't fade @MetisDAO

NFA

/End

Update on this. Thanks for the reply @MetisDAO

https://twitter.com/MetisDAO/status/1481287441071939586?s=20