Thread by @Crypto8Fi

Thread on MetisDAO

Imagine Ethereum, with their biggest challeges solved. Let's talk about @MetisDAO.

This 🧵, will cover the fundamentals, technology and more importantly the roadmap of #MetisDAO into 2022.

Resource Guide:

If you don't already have a brief understanding of #Metis DAO, I recommend reading this thread:

metisdao.medium.com/metis-first-ha…

https://twitter.com/Crypto8Fi/status/1475798941312634883?s=20&t=Cg5sn0WMvq0B7ADCGnmmlg

1. A Brief Recap Of 2021.

#Metis Testnet was launched in September followed by November #Andromeda Mainnet.

Andromeda grew to over $500 million TVL in the first 8 weeks. They have attracted 75 ecosystem partners already.

2. Metis Conceptualised Vision.

-Decentralization: "EVM equivalence + Ranger"
-Scalability: Multichain DAC based DApps
-Functionality: Decentralized storage features- MetisVerse
-Usability: DAC economy

3. Infrastructure.

Memolabs decentralized storage feature into the Andromeda mainnnet at Q1 2022. This will reduce tx costs significantly from $2/3 to a few cents.

This solution will allow for easy integration with dApps looking to be natively stored on the L2 network.

4. Peer Network.

Traditionally, a heavier tx network will congest transactions- think #BSC and #Matic.

#Metis uses a Peer Network as a solution, redirecting TPS dynamically, whilst also remaining a verifier giving Metis a unique advantage.

5. Ranger System.

Q2 2022. Their verification process will stop becoming single layered.

Each batch of transactions will be verified by multiple Rangers, which will be powered by a DAC infrastructure.

More security and decentralization to the network.

6. Token Distribution.

Rangers need to wait for two batches of verifications to occur, in order to get #Metis token rewards.

This means the start of mining for 5 million reserved tokens — half of their lifetime token supply.

7. NFT Bridge.

Most NFTs are minted and traded on Ethereum Layer 1, resulting in high transaction fees and even congesting the Ethereum network at times.

#Metis is now developing a native NFT bridge to Ethereum

Users will thus be able to trade NFTs at low cost on Metis Layer 2

8. Polis Middleware.

Metis is building a middleware layer called #Polis.

Polis is the key to connect end users, people with no blockchain experience, and Web2 developers with the Web3 world.

Polis is the tool that will facilitate a cohesive and explosive multi-chain future.

9. Institutions on Metis.

Every large business/enterprise will be able to have their own chain with a unique chain ID.

Metis is building a Reputation Power system, continuous, programmable NFT-based system that records each user’s on-chain track record.

A passport for Web3...

10. DAC Framework.

Vitalik Buterin introduced the concept of Decentralized Autonomous Companies (DACs).

#Metis is building DACs with Buterin’s vision in mind…and a lot more.

Metis vision of a DAC is as the hub of the Web3 economy, where all actors are decentralized.

11. Metis Ecosystem.

An open protocol, one that encourages any project to deploy its DApp on a permissionless basis.

Joining #Metis gives you access to:

Technical support
Marketing
Community
Builder Mining
DAC Funding
Web2 companies migrate to Web3.

12. Thesis.

This year, we will see #Metis prosper as L2's gain more funding and focus from larger institutions.

As we move to a more multi-chain future, a scaling solutions combined with a first mover like Eth will see greater money inflows, reflected in huge TVL increases.

If you want to learn more about promising DeFi and Altcoin projects.

I post every day about different projects, breaking down the tech and fundamentals for you to understand it simply.

I drop a lot of important alpha on Medium for you, linked below:

medium.com/@crypto8fi