Thread by @0xFitz

She's waking up from her deep slumber.

✅ Partnerships with $AAVE and $LINK secured.
💭 Rumours of #ZK (Zero Knowledge) upon the horizon?
🔥 A soon to be hybrid #OP and #ZK Rollup L2 Chain.
🔨 Revamp of Andromeda Explorer?

@MetisDAO... you beauty🌿

Let's check in... 🧵👇

In this thread, we will uncover the following;

1⃣ What is Metis?
2⃣ News and Rumours
3⃣ #ZK Coming?
4⃣ $AAVE
5⃣ Chainlink
6⃣ Redesign of Andromeda Explorer
7⃣ Faster and Cheaper
8⃣ $100m Ecosystem Fund
9⃣ Metis Builder Mining
🔟 Metis Ecosystem

1⃣ What is $Metis?

Metis is a hard fork of @optimismFND and utilises the Optimistic Rollup framework. $Metis is an EVM-compatible Layer 2 scaling solution built on Ethereum that allows for cheaper (cheapest relative to other L2s at 0.02 cents per tx) and faster transactions.

It's fast, secure, cheap, and very interpolable with no code middleware like Polis, allowing for easy web 2.0 portability.

2⃣ News and Rumours

Recently $Metis made a tweet hinting at something coming.

With the recent hype surrounding #ZK, prominent figures in the core team have hinted that this is coming to Metis at some point.

https://twitter.com/MetisDAO/status/1625106260956786689

🔸 What is #ZK?

Zero-Knowledge Proofs (ZKPs) technology allows users to send data on the chain privately with added security without storing IP addresses or other sensitive information.

Metamask (particularly its default RPC) came under immense scrutiny last year as it announced it was collecting ususers'P addresses.

As the narrative of decentralisation grows, so does privacy on its networks, and it's a welcomed addition to @MetisDAO.

🔸 Where is #ZK?

#ZK has seen a significant popularity boost over the past quarter with projects adopting its architecture, and rightfully so.

Thank you to @CryptoShlug for consolidating the list of current #ZK projects.

Be sure to give him a follow for all things #ZK and DeFi

🔸 L2 + ZK = Match made in heaven

A hybrid of Optimistic and Zero Knowledge rollups?

Correct me If I’m wrong, but this will be a first for crypto, and we are all for it.

4⃣ $AAVE

Back in Jan 2022 (1 Year ago), we saw a DAO Vote on whether @AaveAave will come to Metis.

And this vote passed with flying colours;
• “ Yes” - 35K AAVE 89.13%
• “No” - 4.2K AAVE 10.87%

We are expecting AAVE v3 to go live this year on Metis.

🔸 Why is @AaveAave bullish?

$AAVE will accelerate the DeFi Adoption on $Metis, and it is confirmed that multiple projects will" “come wherever $AAVE goes”, so"we can expect numerous deployments after $AAVE.

(It's worth mentioning the image below happened in a bull run.)

5⃣ $LINK - Chainlink

The industry-leading data solution for the DeFi economy is now live on Metis Andromeda.

Smart contract developers can now secure their applications with high-quality, decentralized price data natively on Metis, helping them to build highly scalable, low-cost, and feature-rich applications.

This is a massive step in Metis's young, but thriving ecosystem

6⃣ Redesign of Andromeda Explorer
It's a common concern among enthusiasts that the current explorer (Etherscan-like utility to browse tx) doesn't meet standards.

Metis has come under some scrutiny to deploy a better explorer and adopt features that Etherscan utilises.

Rumours are circulating that a new Explorer is being tested out and will deploy soon on the main net, as it’s one it's the requirements for $AAVE.

7⃣ Faster and Cheaper

Metis is by far the cheapest and fastest L2 solution I’ve experienced.

8⃣ $100m Ecosystem Fund

Genesi DAC is a VC investor group and $100 million fund led by Natalia Ameline (@Natalia_Ameline), co-founder of CryptoChicks and mother of @VitalikButerin.

Yes… you heard me correctly.

Genesi will be allocated across a wide range of high-potential projects in all major crypto verticals, including, DeFi, gaming, and DAOs.

9⃣ Metis Builder Mining

For all the gas fees charged from transactions, 30% will be allocated and shared with all their ecosystem projects on the Metis Layer 2 network.

⏰ 30% !!!!!

For example, if there are 1000 $METIS tokens collected from the gas fees, 300 $METIS tokens will be shared among all the eligible projects.

If Project A’s transaction volume occupies 10% of all the transactions, then Project A will get 300*10%=30 $METIS tokens as Builder rewards

🔟 Metis Ecosystem

• #32 spot of Chains on @DefiLlama with a TVL on $53m.
• #3 spot of Rollup Chains on @DefiLlama under Arbirtrum and Optimism

I believe their TVL is tiny, and we should see a significant boost once $AAVE and other builders make the switch.

The number of transactions is also increasing on the network, showing its slowly growing again after the bear we’ve been through.

🔸 Metis Key Projects

🌉 Bridges:
• Relay Chain - @relay_chain
• O3 Labs - @O3_Labs
• Synapse - @SynapseProtocol
• MultiChain - @MultichainOrg
• Boring DAO - @TheBoringDAO
• Celer Network - @CelerNetwork
• Poly Network - @PolyNetwork2

↔️ Dex's (Swaps)
• NetSwap | $NETT - @netswapofficial
• Tethys | $TETHYS - @tethysfinance
• Hummus Exchange | $HUM - @hummusdefi
• Hermes | $HERMES - @HermesOmnichain
• SushiSwap $SUSHI - @SushiSwap

↔️ Dex Aggregator (Swaps)
• Hera Finance - @HeraAggregator

🔮 Perpetual Futures
• Tethys | $TETHYS - @tethysfinance
• UniDex - @UniDexFinance

🏦 Reserve currency:
• MAIA Dao | $MAIA - @MaiaDAOEco

🎲 GameFi:
• Revenant | $GameFi - @RevenantGamefi

🫶 Lending:
• Mai Finance - @QiDaoProtocol
• Granary - @GranaryFinance

💲 Algo-Stables:
• Peak Finance - @PeakFinance_DAO

🎰 Yield Aggregator:
• Beefy Finance - @beefyfinance
• Pickle Finance - @picklefinance

✍️ Notable projects:
• MiniMetis | $MINIME - @minimetis
• Aerarium Fi | $AERA - @aerariumfi

Tagging the Metis fam and DeFi Gurus:

@ChadCaff
@cryptoskullx
@ElonTrades
@CryptoShlug
@AstrologyCrypto
@cyrilXBT
@apollo_wayne
@ElenaCryptoChic
@AdrianStarr108
@plebonacci
@thedailydegenhq
@Slappjakke
@defi_mochi
@CryptoShiro_
@blocmatesdotcom
@jediblocmates

@danblocmates

I hope you've found this thread helpful.

Follow me @0xFitz for more.

Like/Retweet the first tweet below if you can:

https://twitter.com/0xFitz/status/1625499093333336069

A couple of spelling mistakes; apologies.