One of the spearheads of blockchain technology is decentralization. Thanks to blockchains, it becomes possible to promote decentralization. MetisDAO is a project that is also actively involved in this. This crypto company was founded in 2016 and launched their token in 2021. Investors who acted early and sold at the right times have been able to make thousands of percent profits within a year!
In this blog we take a closer look at the project MetisDAO and the token METIS . The project is characterized by innovative ideas and by a well-known team member. Curious about the company’s future plans, where you can buy METIS and what a suitable wallet for the MetisDAO coin is? You will discover it all in this blog!
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- What is MetisDAO?
- Decentralized Autonomous Organization (DAO)
- Decentralized Autonomous Company (DAC)
- Advantages of MetisDAO over Ethereum
- MetisDAO’s coin: METIS
- Where can you buy METIS?
- How do I buy Metis Token?
- Suitable wallet for METIS
- Metis software wallet
- Metis hardware wallet
- The MetisDAO team
- Vitalik Buterin’s mother in the Metis team?
- Roadmap: the plans around Metis
- MetisDAO on social media
- Conclusion
Before we dive deeper into this interesting crypto project, you can get a visual introduction to MetisDAO and METIS in the video below:
What is MetisDAO?
As the name may have already betrayed, MetisDAO is a Decentralized Autonomous Organization (DAO). A decentralized autonomous organization, but not just any. MetisDAO sees the problems of current organizations and has innovative ideas for this. These developments are in line with the developments of web3.0, where decentralized companies run on the blockchain and are building a decentralized economy.
MetisDAO is called a layer 2 project, which aims to address the problems of layer 1 projects. Initially, the decentralized economy had to be built on layer 1 projects, but this is not as easy as expected . Projects such as MetisDAO must ensure that the developments surrounding the decentralized economy of web3.0 continue.
Decentralized Autonomous Organization (DAO)
DAO stands for Decentralized Autonomous Organization and is a company that can work completely independently. The entire operation is written out in programming code and by means of smart contracts, so that no staff is required. You can compare such a contract with a computer program that gives your computer the correct work instructions.
Despite the fact that DAOs can provide decentralization, trust in each other is still very important. But how do you build this trust? Decentralized partnerships in decentralized environments have no upfront foundation of trust. If you want to know more about DAOs, you can read my colleague Patrick’s blog here, where you can find a full explanation of DAOs.
Decentralized Autonomous Company (DAC)
A decentralized autonomous organization (DAO) is sometimes also referred to as a decentralized autonomous enterprise (DAC). This is an organization represented by rules that are stored in a smart contract and controlled by the members of the organization. This way of working is not influenced by a central party.
However, DAOs are quite limited in what they can do. That is why MetisDAO has developed a refreshing variant with the DAC. DACs have fewer limitations and go beyond administrative duties. In this way, more attention is paid to mutual trust. You can learn more about the power of DACs from MetisDAO in the video below:
Advantages of MetisDAO over Ethereum
Ethereum has been the company with the most users for years, using its blockchain. Despite its many users, Ethereum has some inconveniences that many users suffer from. Other developers try to take advantage of this by building a better product. The team at MetisDAO is an example of this, but what are the advantages of Metis over Ethereum?
MetisDAO’s product addresses Ethereum’s big problems. Ethereum is known for its relatively slow transaction speed and high gas fees. In addition, it is difficult to build dApps on the Ethereum blockchain. All of these issues are addressed by MetisDAO, making the pain points of Ethereum the benefits of Metis. Incidentally, Ethereum itself is also busy solving their problems. For example, my colleague Matt recently wrote about The Merge, the merger of the Ethereum mainnet and the Beacon Chain.
Do you want to know more about layer 2 scaling solutions? In the video below, made by AllesOverCrypto, we explain more about this type of scalability solution.
MetisDAO’s coin: METIS
Met project MetisDAO has its own token, with a similar name, namely METIS. This token is very important within the ecosystem and you can also stake. For example, on the OKX Exchange it is possible to strike METIS, where you can currently (April 26, 2022) receive an Annual Percentage Yield (APY) of 50%!
You can use these staking rewards to make an extra return on your investment and to expand your portfolio. There are risks associated with staking altcoins, but it can also be a very lucrative way to make money. The current savings interest no longer generates passive income, while discontinuing METIS makes this possible.
Where can you buy METIS?
You can get MetisDAO’s token from about 25 different locations. The coin can be bought and sold on several central and decentralized exchanges. Below are both relatively unknown and well-known platforms, some well-known examples of which can be found below.
- Uniswap
- Sushi Swap
- Pancake Swap
- Gate.io
- KuCoin
- MEXC
- Poloniex
When the MetisDAO token will increase in popularity in the future, there is a chance that more crypto platforms will include the crypto coin in their range. At the moment (April 26, 2022) Binance, Coinbase and FTX do not yet have METIS in their range, but this may change in the future. On Coinmarketcap you can find out on which platforms METIS can be traded.
How do I buy Metis Token?
Buying Metis Token on Uniswap seems tricky, but it’s easy using the steps below. With this explanation you will be the proud owner of METIS within a few steps.
- Open the Uniswap app here
- Tap on ” Connect to a wallet ” at the top right
- Connect to your wallet, most here use MetaMask wallet through their internet browser
- Create a free account on Bitvavo via this link
- Verify yourself by clicking on your name in the top right corner and then go to ” Verification “.
- Deposit money into your Bitvavo account via iDEAL
Click here for more information about Bitvavo if you need it - Buy Ethereum and then send it to your Ethereum address from your MetaMask wallet. You can find this address by clicking on the logo (image of a fox) in the top left corner of Metamask. Then click on your account to copy your address. This is at the bottom right of the logo.
- Wait for the Ethereum to arrive on your MetaMask wallet
- Search for METIS on Uniswap to swap/exchange your Ethereum for this currency.
- Swap the desired amount of Ethereum for Metis Token and confirm the swap through your MetaMask wallet
- Congratulations, you have successfully swapped your Ethereum for Metis Token!
Read a detailed explanation about Uniswap Protocol here.
If you prefer to watch a video about buying METIS through Uniswap, you can use the video below:
Suitable wallet for METIS
There are different types of wallets suitable for METIS. The least reliable method of storing your coins is on the exchange. Here you do not have control over your coins, because you do not have the private key. This gives the exchange control over the coins. That is why it is wise to look at alternative wallets.
Metis software wallet
Software wallets are therefore a better option for storing your METIS tokens. With software wallets you are in control, because you own the private keys. The software wallets below are among the popular choices of many crypto investors and are suitable for METIS:
- Trust Wallet
- MetaMask Wallet
- BinanceChain Wallet
Metis hardware wallet
In addition to the exchange and software wallet, METIS can also be stored on a hardware wallet. This is recommended in most cases since you own the private key here and therefore actually own the coins. The most famous hardware wallet is currently the Ledger Nano S. You can buy this from the official Dutch reseller Cryptomaan.
The MetisDAO team
In total, the MetisDAO team consists of 25 people, which you can find on the Metis.io website. Within the team there are three co-founders who are responsible for the creation of the team and the project.
One of these is Elena Sinelnikova, the co-founder and CEO of MetisDAO . In addition to her work for MetisDAO, Sinelnikova is also the founder and CEO of CryptoChicks. This is an education platform for women who want to know more about blockchain technology.
Kevin Liu is also one of the three co-founders. Like Sinelnikova, Liu also founded another company for MetisDAO. For example, he founded Token Economy Labs Inc in 2018. Before that, Liu worked for many years in China, where he worked for various companies as a marketing specialist or investment manager.
The third co-founder is Yuan Su, who worked at Canadian IBM from 2003 to 2018 before setting up MetisDAO. Following these activities, Su also works at CaseWare International, where he holds the position of Head of Development.
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Vitalik Buterin’s mother in the Metis team?
When you say Ethereum, you say Vitalik. Vitalik Buterin is one of the founders of Ethereum and the flagship of the crypto company. His passion for crypto is not from a stranger, since his mother is also active in the crypto world. In addition to being the mother of Vitalik Buterin, Natalia Ameline is also the Head of Investor Relations / Genesi DAC manager at MetisDAO.
Ameline is also a co-founder of CryptoChicks, along with the CEO of MetisDAO. Before Ameline dived into the crypto world, she worked for large companies such as Unilever and Heinz. She spent most of her working life at Pitney Bowes, where she held various positions for 18 years.
Incidentally, Vitalik Buterin’s father, Dmitry Buterin, is also active as an entrepreneur with blockchain technology. For example, in 2016 he founded BlockGeeks, an online hub where entrepreneurs, investors and leaders can learn about the fast-evolving world of Blockchain.
Natalia Ameline, the mother of Vitalik Buterin.
Roadmap: the plans around Metis
Many projects don’t even have a roadmap, but MetisDAO even has two. One roadmap is intended for the first six months of 2022, which is originally called the ‘2022 Roadmap’. This contains, for example, the plans for an NFT bridge. The layer 1 blockchains often have high gas fees, which can be solved with layer 2 projects such as Metis.
In addition, the project has a Decentralization Roadmap, which was made public on November 9, 2021. In this roadmap, MetisDAO announces how they will make the project as decentralized as possible in the first three quarters of 2022. The founders of Metis started the project with decentralization in mind, so they do not want to be leaders of the project. To fully discover this roadmap, you can take a look here.
MetisDAO on social media
The MetisDAO team is active on many different social media platforms , so there is a good chance that you can also follow the project via your favorite social media channel. Below we take you through the various social media channels with MetisDAO, where you can find links to the relevant channel.
On Twitter, about 130,000 followers receive different Tweets from MetisDAO’s official Twitter channel every day. For many projects, Twitter is the social media platform where most interested parties are reached and this also applies to MetisDAO. The team is very active here and that is appreciated by many people.
MetisDAO is also present on Mark Zuckerberg’s social media platforms, but if you would like to stay informed of all the news about the project, there are better alternatives. For example, little information is shared via Instagram , where a few posts appear per month.
The project has more than 600 permanent followers on Instagram, while this number is much lower on Facebook. There are less than 100 people on Facebook who follow the project in this way. However, more updates are shared via Facebook, but nevertheless there are better channels to stay informed.
Like Twitter, Telegram and Discord are also popular channels, where many crypto projects share the latest news with their followers. These two platforms often attract many followers, but the difference in followers between Twitter and the two chat channels is quite large. With 32.5k followers on Telegram and 6.6k followers on Discord , the numbers are a lot lower than on Twitter.
Also on Reddit, MetisDAO has its own subreddit . However, if you would like to stay informed about all the news around and about the project, this is not the most suitable channel for you. Still, the subreddit can be a useful platform if you have questions about the project, but with about 230 followers there are very few interested people on Reddit.
If you like to read informative blogs about METIS and MetisDAO, Medium is a better platform. Via Medium, the team shares interesting information about new collaborations, updates, upcoming events, and so on. Each blog provides a clear explanation, which is easy to read if you like to read in English. In total there are about 2,600 followers, which is average for a crypto project on this platform.
YouTube has also been discovered by the MetisDAO team. The team has an above-average number of videos on YouTube for a crypto project , which contain a lot of information and really let you discover the project. In this blog you can discover some videos from the YouTube channel, but take a look if this project has aroused your interest.
Conclusion
MetisDAO is a refreshing project that is busy implementing their innovative ideas. This is apparent, among other things, from tackling DAOs. These organizations are growing in popularity, but Metis sees opportunities for improvement. With the arrival of DACs, Metis shows how DAOs can evolve further. This development has taken this one step further.
The project is not only interesting because of the innovative ideas, but also because of Natalia Ameline. She is the mother of Vitalik Buterin, who is perhaps the most famous ‘person’ in the blockchain world after Satoshi Nakamoto. Of course this also has a positive effect on the image of MetisDAO.
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