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Price (USD)$ 103.90
Circulating SupplyMETIS 5.30852M
Volume (24h)$ 44.9613M
Market Cap$ 551.56031M
Low/High 24h$ 101.43 - $ 113.38
Change (24h)-$ 5.238885
The crypto market teems with different projects, some of which are considered to be market leaders, while others remain in the shadow of their more popular counterparts. One of the latter is MetisDAO. Metis is a permissionless Layer-2 network powering the next generation of decentralized applications. Let’s take a closer look at the MetisDAO coin and its main characteristics to analyze its perspectives.
Metis is a scaling solution for Ethereum. The project is led by co-founders Elena Sinelnikova, Kevin Liu, and Yuan Su and also has Ethereum co-founder, Vitalik Buterin’s mother, Natalia Ameline on staff as a technology researcher. It was launched in 2021, designed with the specific aim of building more robust, value-creating DAOs. DAO is the decentralized version of a company. All of an organization's or community's rules are outlined by a DAO smart contract, and every user has the ability to vote or suggest modifications that are recorded on the blockchain.
Metis discovered, nonetheless, that DAOs' present functionality is constrained. Although there are obviously a lot more uses for the DAO model than only governance voting, developing this framework would take too much time and money from a project. Thus, Metis started to create a Decentralised Autonomous Company (DAC), a new architecture.
While a DAO allows users to vote and participate in governance, a DAC allows users to participate in these activities as well as management by integrating features like payroll, project management, communications, HR, and more, much like a regular business. A DAC makes it possible to build a fully operational company without the need for a CEO or other top executive to steer the ship.
Projects that use the native METIS crypto can register as DACs. A real-world company's registration procedure is comparable to that of DAC. A person must go through the registration process and stake METIS tokens in order to register a DAC. The native token METIS coin is used to pay the registration fees. To establish a new DAC, a stake value of at least 10 METIS is needed.
Any group anywhere in the globe can register a DAC and interact with the community as long as they fulfill the staking criterion. One of the best features of the Metis ecosystem and a contributing factor to the token's rise in popularity is the DAC structure.
The Metis DAO project brings a plethora of new features for the Layer-2 ecosystem: NFTs, bridging, optimistic rollups, and more:
In September 2023, Metis announced the Metis Journey, a $5 million DeFi Incentive Program designed to boost new and existing DeFi applications on the Metis Layer-2 network, starting with blue-chip protocol Aave v3.
As part of this partnership, ETH, METIS, USDC, USDT, and DAI will all have liquidity pools with 100,000 METIS tokens each to be used as incentives for Aave users. With Aave's participation, the strategic program aims to draw a broader user base to the Metis platform. This program comes after leaders in the industry like Polygon, Avalanche, and Optimism launched growth efforts led by Aave. The expected uptick in activity resulting from Aave's involvement will serve as a spark, bringing with it a slew of new prospects in other well-known Metis applications: Hummus, Stargate, Synapse, and more.
In general, experts believe that METIS coin might go up in price within the following years. For instance, DigitalCoinPrice crypto analysts believe that by 2030, METIS coin will raise in price significantly and fluctuate between $162 and $174.27. Meanwhile, experts at PricePrediction think that by 2030, the cryptocurrency can reach $239.10 or even go as high as $274.37. Some crypto analysts, like CaptainAltcoin, even go as far as to suggest that MetisDAO can reach $1,000 by the end of 2025.
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Don’t forget to do your own research before buying any crypto. The views and opinions expressed in this article are solely those of the author.