Metis Coin: A Good Investment Or Just Another Crypto?

Metis (METIS) is a Layer 2 platform designed to enhance Ethereum's capabilities, focusing on fostering a Web3 economy conducive to individuals, teams, communities, and small businesses. It is a highly volatile asset that has seen significant price fluctuations since the start of 2022. The METIS crypto price reached an all-time high of $323 on 16 January 2022 but has since retraced to lower levels. As of 27 August 2024, the price of Metis is $35.06, with a 24-hour trading volume of $9,059,828.

Metis aims to address the challenges faced by Ethereum, including speed, cost, and scalability. It also provides a modular framework that allows developers to build and customize their own decentralized applications (dApps) using Metis' infrastructure.

When considering whether Metis is a good investment, it is important to remember that cryptocurrency prices are highly volatile and unpredictable. It is always a risky investment, and you should never invest money that you cannot afford to lose. However, some sources provide price predictions for Metis, and as of 15 February 2022, algorithmic forecasting services indicated the potential for gains. For example, Wallet Investor predicted that the coin's average price could reach $375.11 by the end of 2022 and surge to $1,245.81 by 2025.

In summary, whether Metis is a good investment depends on your risk tolerance, investment horizon, and overall investment strategy. It is crucial to do your research and carefully consider your financial situation before investing in any cryptocurrency.

MetisDAO's unique features and use cases

MetisDAO (METIS) is a Layer 2 platform designed to enhance Ethereum's capabilities and address its primary challenges, namely speed, cost, and scalability. It introduces a unique governance system, empowering community members to propose and establish Decentralized Autonomous Communities (DACs). Here are some of MetisDAO's unique features and use cases:

Optimistic Rollups

MetisDAO utilises Optimistic Rollups, which bundle multiple transactions into a single transaction that is then processed on the Ethereum blockchain. This allows users to perform transactions quickly and cheaply, as the Layer 2 infrastructure leverages Ethereum's security and decentralisation to reduce transaction costs and increase speed.

Off-Chain Data Storage

MetisDAO stores most of its transaction data off-chain, with only the minimum required data stored on its layer-1. This off-chain data is then placed in Memo Labs storage, making it substantially cheaper than storing data on Layer 1 like Ethereum.

Modular Framework

MetisDAO provides a modular framework that enables developers to build and customise their own decentralised applications (dApps) using its infrastructure. This flexibility allows users to create a wide range of applications, from NFT minting and trading platforms to yield farming and decentralised exchanges.

DAOtribution Campaign

The MetisDAO Foundation launched the DAOtribution Campaign, a grants program aimed at empowering contributors and communities to initiate their DACs on KORIS. Qualified applicants can submit grant proposals and receive funding through the Metis token.

Hybrid Rollup

MetisDAO is developing a Hybrid Rollup that combines optimistic rollup architecture with zero-knowledge proofs. This combination aims to provide a secure and developer-friendly Layer 2 solution for Ethereum developers to deploy all types of decentralised applications.

Native Token: METIS

The METIS token is the network's native utility token and plays a crucial role within the Metis ecosystem. It is used for transaction fees, staking, and rewards. Additionally, METIS tokens help reduce spam and ensure trust between developers and users within the platform.

MetisDAO's founders and their backgrounds

MetisDAO was founded by Elena Sinelnikova, Kevin Liu, and Yuan Su in 2019, but the business didn't officially launch until 17 November 2021.

Elena Sinelnikova is a software development guru and entrepreneur with an extensive background in developing enterprise software solutions for government and law enforcement industries. She holds a Master's degree in Computer Science and has experience in blockchain, cybersecurity, and full-stack programming. Prior to founding Metis, she established the non-profit blockchain educational hub 'Crypto Chicks' in 2017. She is also the co-founder of CryptoChicks.ca, a female organisation focused on blockchain education for women.

Kevin Liu has over five years of experience in product development and has studied DAO, governance, and decentralised collaboration since 2018. Before launching Metis, he worked as an investment manager and in strategic development. He has an undergraduate degree in management and an MBA from the Chinese Academy of Sciences.

Yuan Su studied Computer Science as an undergraduate and then did an MBA at the University of Toronto. After graduating, he worked as a software engineer and manager at IBM until 2019, when he co-founded Metis. He now also heads up development at CaseWare International.

Metis' price history and predictions

Metis Price History and Predictions

Price History

Metis (METIS) is an Ethereum Layer-2 scaling solution and an internal currency for staking and payments in the Metis crypto ecosystem. It aims to solve the blockchain trilemma by addressing Ethereum's biggest challenges: speed, cost, and scalability.

The METIS token reached its all-time high of $323 on 16 January 2022, but the retracement sent it to $102.75 on 31 January. The price of Metis has been highly volatile since the start of 2022, and it is currently valued at 87.53% below its all-time high.

Price Predictions

According to various sources, the price of Metis is predicted to increase in the future. Here are some specific predictions:

• CaptainAltcoin predicts that the METIS price could reach $52.84 in 2024, $65 in 2025, $75.34 in 2026, and $139.75 by 2030.
• Wallet Investor estimates that the average price of METIS could reach $375.11 by the end of 2022 and surge to $1,245.81 by 2025.
• Digital Coin predicts that the average price of METIS could be $193.80 in 2022, $216.30 in 2023, $300.99 in 2025, and $672.72 in 2030.
• Price Prediction estimates that the average METIS price could reach $168.29 in 2022, $547.25 in 2025, and $3,278.75 in 2030.
• CoinCodex's technical analysis from 15 February 2022 suggested that the METIS price could rise by 79.60% to $254.67 by 20 February 2022.

It is important to note that price predictions can be wrong and that past performance does not guarantee future results. The decision to invest depends on your circumstances and risk tolerance.

How to buy Metis

To buy Metis (METIS), you will need to have either Bitcoin (BTC) or Ethereum (ETH) for trading purposes. You can then use a cryptocurrency exchange such as Binance, Gate.io, OKX, BingX, Huobi, Coinbase, BitMart, KuCoin, BTCC, DOEX, or Bybit to purchase METIS tokens. Here is a step-by-step guide on how to buy Metis using Binance and Gate.io:

Step 1: Create a Binance Account

• Visit the official Binance website (https://www.binance.com/en) and scrutinize the URL to ensure it is secure.
• Click on the "Register" tab and fill in your trading details, such as your mobile number or email address. Choose a strong password that includes a mix of numbers, symbols, and upper and lower-case letters.
• (Optional) Enable two-factor authentication (2FA) for added security. You can use the Google Authenticator app to generate a unique code each time you log in.

Step 2: Buy your First Bitcoin (BTC)

• Send money to your Crypto wallet on Binance using a bank transfer or debit/credit card.
• Move your cursor to the "Buy Crypto" tab, select your currency (e.g., US Dollars), and choose the "Credit/Debit Card" option.
• Choose the desired Bitcoin amount and the total amount you want to spend. Alternatively, you can set the total charge, and the system will calculate the Bitcoin amount for you.
• Click "Buy BTC," review the order details, and confirm your purchase.
• Provide your credit card and personal information, then click "Pay Now."
• Verify your email and phone number, and complete the identity verification process by uploading an official document.
• Once your purchase is confirmed, your Binance account will be credited with the purchased BTC or ETH.

Step 3: Transfer Your Cryptos to an Altcoin Exchange (Gate.io)

• Create a trading account on Gate.io or another exchange that trades Metis (METIS).
• Deposit your BTC from Binance to Gate.io by clicking "Deposit" from the top right menu, searching for BTC, and copying the "Deposit Address."
• Go back to Binance, click on "Wallet" in the top right corner, and select "Fiat and Spot (Deposit & Withdrawal)."
• Find BTC in the list, click "Withdraw" on the right, and paste the deposit address you copied from Gate.io. Select BTC as the transfer network.
• Enter the amount you want to withdraw and confirm the withdrawal with your 2FA code and an email confirmation.

Step 4: Trade Metis (METIS)

• Go back to Gate.io and click on "Trading," then select "Standard" under "Cash Trading."
• In the left column, select "BTC" as the trading pair and type "METIS" in the search bar.
• Click on the "Market" tab to place a buy order for METIS with your BTC.
• Enter the amount of BTC you want to spend or use the percentage buttons to choose a portion of your deposit.
• Once you have confirmed the details, click "Buy METIS."

Step 5: Store Metis Securely in a Hardware Wallet (Optional)

If you plan to hold your Metis tokens for an extended period, consider storing them in a hardware wallet, such as a Ledger Nano S or Ledger Nano X. These wallets provide an extra layer of security and are designed to support most blockchains and a wide range of tokens.

Metis' partnerships and collaborations

On February 29, 2024, Metis, an Ethereum Layer-2 roll-up platform, announced major collaborations with Chainlink Labs, EigenLayer, Renzo, Ethena, and DeFi Kingdoms. These collaborations are expected to make the Metis blockchain more robust and accessible by improving user experiences and enhancing liquidity.

As part of these new developments, the Metis bridge interface will be upgraded to use Chainlink CCIP as the official cross-chain infrastructure, initially focusing on bridging leading stablecoins from the Ethereum mainnet to the Metis network. EigenLayer will integrate Metis, creating a new liquid-restaking layer and significantly improving the network's liquidity. The partnership with Renzo will enable native ETH restaking, allowing users to deposit Metis-native ETH into Renzo for ezETH without manually bridging and restaking. Ethena will contribute to Metis's new liquidity layer by introducing the yield-bearing stablecoin USDe, which allows users to deposit traditional fiat, ETH, or liquid staking tokens (LSTs) and earn yield while minimising risk. Lastly, DeFi Kingdoms will introduce a new combat mode in their game, exclusively launching on Metis, which has the potential to attract players and increase transaction volume.

These five developments are expected to enhance the Metis ecosystem's attractiveness, addressing pain points associated with L2 networks. With new value propositions and substantial incoming liquidity, Metis is well-positioned to become a superfluid, self-sustaining blockchain.

Frequently asked questions