📌AMA recap with Metis CEO — Elena Sinelnikova
AMA (recap) with Metis — December–10–2021
10 December 2021 / 2 PM (UTC) / DeHive Telegram Channel
ATTENDEES
DeHive & Metis team
Brief Information about Metis project
Metis is a digital ecosystem of different decentralized products that work in a balanced tandem to provide users and businesses with a perfect DeFi experience.
At the moment, the Metis ecosystem consists of the Metis Layer 2 protocol, native IPFS-based data storage, numerous revenue-driving features such as builder mining that generates $METIS tokens with every transaction on Metis Layer 2, and a DAC ecosystem that aims to make Metis a hub for the entire Web3 economy.
AGENDA
Taisiia Khlivna (DeHive CMO), has taken AMA in with Elena Sinelnikova (Metis CEO) to discuss Metis ecosystem and find out more about DeHive&Metis partnership and future plans for expansion.
Taisiia Khlivna (DeHive CMO): Well, at the beginning, please tell us about yourself and the story behind Metis?
Elena Sinelnikova (Metis CEO): Years ago, my long-time friend Natalia Ameline and I organized a meetup in Toronto that evolved into CryptoChicks non-profit educational organization for women in 56 different countries around the world.
As CryptoChicks grew, a large ecosystem emerged. Startup entrepreneurs started gathering within that ecosystem to figure out how to launch their own blockchain ideas. It was also there that I met Yuan Su, a blockchain developer working for IBM Hyperledger who had been coding since age 6, and Kevin Liu, a serial founder, and incredibly smart product developer. Together the 3 of us co-founded Metis, with the EXACT same goal of CryptoChicks: to make blockchain easy and accessible to EVERYONE.
So, Metis is a scalability solution, optimistic rollup and community for Ethereum to make transactions on Ethereum for just a few cents and also give people the ability to be on blockchain and do business on the blockchain without coding.
Taisiia: Wow! So you have a team of great professionals on board.
Elena: Yes. Now our team is over 40 people. AMAZING people.
Taisiia: Ahaha, sure! People are a key to the greatness of any project to my mind. Could you please tell me what does Metis offer exactly?
Elena: Metis is known as Layer2 scaling solution-but that’s just the start. We’re building a hub for the ENTIRE Web3 economy. We do it in 3 stages.
1) Layer 2 Ethereum scaling solution/Optimistic Rollup with transactions of a few seconds and a few cents, plus cheap, ON-CHAIN data storage (massive for NFTs…and pretty much anything else). All EVM equivalents, therefore projects/smart contracts can be ported from Ethereum one-for-one without any changes.
2) NO-CODE integration via smart contract templates. Middleware has until now been a Web2 concept, a product that links operating systems to apps. Metis middleware (Polis) will enable ANYONE, even your grandma, to jump on blockchain in just a few clicks.
Check out https://polis.metis.io/#/login — our middleware to connect and develop on Metis
And also this article https://metisdao.medium.com/blockchain-middleware-ccb41ded0fab
3) Decentralized Autonomous Company (DAC) infrastructure enabling both blockchain AND Web2 companies to build decentralized businesses ON-CHAIN, with all the functionalities of real-world enterprises and all the advantages of blockchain.
To create your own DAC please go to https://portal.metis.io.
You not only create your own blockchain company already, but earn — can stake and mine $METIS tokens. More people are in your DAC, more $METIS tokens can be mined.
This mining is around only for another month for our early adopters. So, hurry!
In short: We’re building a MASSIVELY ambitious project that will do what all great companies do: Make bleeding-edge, world-changing tech ludicrously easy for anyone and everyone to use, so that everyone reaps the benefits.
Taisiia: Sure! Bees, I engage everyone to check-up on Metis technology, because this is the future of blockchain 🔥 Well, let’s proceed to the next question. You have mentioned DAC infrastructure implementation, so could you please describe what is a DAC? Further, how does it function, and what are its use-cases?
Elena: You are probably familiar with the DAO term. Metis is building a much more ambitious structure than DAOs: Decentralized Autonomous Companies (DACs). With DACs, every entity from a large Web2 company (imagine Nike) to a loosely affiliated group of enthusiasts (imagine you and 10 friends trading NFTs with each other) to something in between (a freelance staffing service like a Web 3/decentralized version of Fiverr or Upwork) can take advantage of our decentralized business templates and all of the features found in a Web2 company.
(ERP/CRM software, payroll management, Slack-like messaging platform) to run their entire operations right on the blockchain, with those fast and cheap transactions and secure, decentralized structures mentioned above!
Right now we released the first DAC template and you can try it out at https://portal.metis.io.
We are working with Web2 and Web3 companies on the next templates. At some point, we also transfer all our business to DAC. Including paying salaries and all contracts and MOUs.
Taisiia: I really like the technology of Metis, this really makes the blockchain easier for regular people. Well, Elena, we are in DeFi, so I also would like to know, what about DeFi in your case? How DeFi projects and DeFi users can benefit from Metis?
Elena: Definitely. First of all, DeFi and other projects can use Metis as a scalability solution to provide low gas fees for their users. Current fees on Metis are about $2.5 for ERC20 transfer transaction (check out our integrated partner https://apps.standard.tech/trade) and $5 for NFT minting (check out our integrated partner https://metacraft.pro/allnfts). In 2022 once the decentralized storage is developed the transaction fees will be just a few cents. All on Ethereum and decentralized. Not risking your money to any centralized chain or sidechain. Rollup inherits Ethereum security.
Second, DeFi projects can utilize the Metis DAC structure to organize their users in groups and reward them according to their deeds and contributions to the project. Or can give certain users privileges. For example, to have higher APYs for the longest supporters. DeFi users in turn can benefit from low fees and the perks of DACs. Also being on Metis gives them the ability to tap into early-stage projects that will be launched on Metis.
Netswap DEX (https://netswap.io/#/home) that is already operational on Metis will be announcing launchpad soon, for example.
Other launchpads, such as Ignition PAID Network are currently in the process of integrating in Metis.
So, all their projects will be available to get into for Metis ecosystem.
Taisiia: So your ecosystem is growing speed-fastly.
Elena: Yes, we have over 50 partners that are integrating. Plus we are working with Web2 companies. Coming soon!
Taisiia: Wow! Great start — as far as Metis is a quite young ecosystem, I think this is pretty good exposure. Well, as one of your ecosystem partners, I would like to ask why Metis has partnered with DeHive? What are the key takeaways of this collaboration?😇
Elena: Very excited to partner with DeHive. DeHive will provide our community the possibility to use and invest in indexes. Index is a safe and convenient way to invest in DeFi and get a diversified portfolio. It will help to get optimized profit in the long run. This our community is very excited about.
With DeHive Index they can hold a basket of carefully selected best crypto in a balanced proportion. The market fluctuations for a single token do not affect the portfolio that much and help you generate more stable income even during grand market fluctuations.
DeHive brings this awesome Web2 finance feature to the crypto space and it is very exciting. So, that’s why it is an exciting partnership for Metis.
Taisiia: We are very glad that we were able to discover your ecosystem in the early stage! This partnership is very valuable for the project and the community as well. I think now is a great time to finish the first part of our AMA and proceed to the live part, what do you think?😃
Elena: Yes. Let’s do it.
From DeHive Community: What is truly different about Metis technology, I have read about out of box solutions for micro payments, micro services, reputation systems, etc. What exactly does this mean, are these applications integrated with the rollup itself and composable for other builders, is this part of the SDK?
Elena: These features are part of the Metis architecture. They are getting integrated by our dev team. But we also consider asking the community to contribute to this development. All of that is meant to be composable and reused by any project in the ecosystem. And to be in SDK.
From: Can you tell us a little more about Rebuilding the Tower of Babel? and Why is Metis Rollup better than Optimism and Arbitrum?
Elena: Metis has the ability to roll up the separate chain for each project and DAC, therefore projects are not interfering with each other and don’t create a bottleneck. Have you heard about a Solana crash today? Bottlenecks are leading to crashes. We designed our tech without bottlenecks. Also, Decentralized Autonomous Companies` infrastructure with its different business models and the ability for Web2 users to join Blockchain — this is something Optimism and Arbitrum will not offer. Not by their design.
From: Is Metis compatible with Ethereum EVM? Can Metis be integrated into my existing website/application/business/platform? And Is Metis ready to Market? Please tell me some information on this topic?
Elena: Yes, Metis is EVM equivalent. It means there is no need to change the existing smart contracts when porting to Metis.
Taisiia: Thank you, Elena, for joining our hive today💛 It was a pleasure to host you! I think everybody from the community benefited from this AMA and now knows Metis ecosystem better.
Elena: Thank you for having me here! And will see you soon! 😍
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