STP Launches Verse Network, a Layer 2 Sidechain Optimized for DAOs

We are excited to announce the launch of Verse Network, a Layer 2 sidechain optimized for DAOS. Co-Developed with the Meter Foundation, Verse Network aims to deliver a censorship resistant, front-running-resistant, and high performance solution tailored towards next gen DAOs and decentralized applications.

“Verse will be an all-encompassing platform for any network, community and organization to decentralize decision-making effectively and for developers to seamlessly launch decentralized applications” said Mike Chen, Founder of STP.

The mainnet launch of Verse is only the beginning of our initiative to optimize the DAO ecosystem and unlock value for networks, communities, and organizations. Verse will be built on the upcoming Meter SDK, a HotStuff consensus-based framework scalable to 1000s of validators and with a throughput of 1000s transactions per second on each chain. The Meter SDK is backward compatible with EVM and Ethereum RPC and will support containerized VMs like MOVE and WASM on the same consensus and network layers. The Meter SDK cross chain protocol enables the communication between parallel chains through a hub model while providing the ability to communicate across heterogeneous chains through Meter Passport infrastructure. With Meter SDK, you can interconnect with blockchain clouds like Ethereum, BSC and Polkadot.

Xiaohan Zhu, CEO and Founder of Meter.io said “We are excited to work with Verse Network to build the first parallel chain on top of the Meter SDK tech stack. Verse will be an important DAO cloud on the future web3. Meter SDK is committed to bring the much needed scalability and cross-chain connectivity to developers and communities. We would like to see Verse bring its innovative DAO functionalities to projects on Ethereum and other major blockchain clouds. ”

Currently, governance activities in DAOs have limited functionality beyond voting and lack additional participation activities and features. Verse will allow DAOs to expand their activities beyond voting while incentivizing participation and engagement at low cost. DAOs will be able to integrate with Verse and tailor their governance structure to fit their specific needs and community.

About Verse

Verse is a censorship resistant, front running resistant, high performance, and interconnected cloud for next gen DAO and DeFi. It enables networks, developers and organizations to decentralize decision making effectively and scale their communities and decentralized applications.

About Meter

Meter.io is a highly decentralized Ethereum scaling solution with a built-in metastable gas currency. Meter SDK is a framework to build Ethereum compatible blockchains that allow smart contracts to scale and communicate seamlessly through heterogeneous blockchain networks.

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