Deepcoin, a global cryptocurrency derivative trading platform, is thrilled to announce the listing of MetisDao on its platform. The initial futures listing for METIS/USDT has been available for trade since 2023-09-20 18:00(UTC+8). Within the first 2 hours of perpetual futures for the METIS/USDT pair, there was an organic trading volume of 350,000 USDT, a natural gain of more than 25%.
METIS is an ERC-20 token deployed on the Ethereum layer-1 blockchain with a total supply of 5.41 billion tokens. The METIS token stands at the forefront of Metis’s mission to redefine the landscape of blockchain technology. In a realm dominated by challenges such as high gas costs and limited throughput, particularly on layer 1 solutions like Ethereum, METIS emerges as a beacon of innovation. This native token plays a pivotal role in enabling sophisticated, decentralized collaborations that extend far beyond the capabilities of traditional financial platforms.
Ego Huang, CEO of Deepcoin expressed his excitement, stating, “This listing perfectly aligns with Deepcoin’s commitment to innovation and providing our users with access to cutting-edge digital assets. METIS represents the transformative potential of blockchain technology, and we believe this listing is a significant step forward. We are confident that it will not only benefit the METIS community but also continue our mission of innovation and creating value for our users.”
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MetisDAO, the decentralized autonomous organization (DAO) at the core of the Metis ecosystem, represents a profound shift in the way organizations and communities operate in the digital era. Traditionally, DAOs have been synonymous with efficient voting systems and governance mechanisms. However, MetisDAO goes beyond this narrow definition, reimagining DAOs as fundamental units that support and manage the operations of decentralized applications and businesses. The true challenge lies in building trust among inherently distrustful community members and overseeing complex, decentralized collaborations. MetisDAO introduces the concept of Decentralized Autonomous Companies (DACs), entities that serve as the backbone of day-to-day operations for a wide range of enterprises, including large-scale corporations.
To realize the vision of DACs capable of achieving intricate, collaborative outcomes that extend beyond the scope of conventional financial platforms, MetisDAO has identified the critical need for a Turing-complete layer 2 solution. The solution comes in the form of the Metis Virtual Machine (MVM), an Ethereum Virtual Machine (EVM) compatible layer 2 infrastructure that provides unprecedented efficiency and flexibility. Each DAC operates within its unique layer 2 construct, where all collaborative efforts take place. The computing and storage elements of Ethereum constructs on layer 2 are segregated, allowing for dynamic scaling without the need for substantial infrastructure investments.
MetisDAO empowers DACs with governance charters that define their fundamental operational rules. These charters encompass a DAC’s purpose, permissions, tax rates, and management processes. They are created during the genesis block and are integral to the DAC’s operation. This approach ensures transparency and adaptability in the DAC’s journey toward decentralized governance.
Within the MetisDAO ecosystem, granular permission management plays a pivotal role in ensuring efficient operations. DAC charters associate each operation with specific addresses, granting or denying access as needed. This flexibility allows DACs to tailor their governance structures to their unique needs. MetisDAO also addresses data privacy concerns with its innovative use of the InterPlanetary File System (IPFS). While traditional encryption methods have limitations, IPFS offers a robust solution for DACs seeking to safeguard sensitive information. Access to IPFS clusters is controlled through DAC-specific IPFS resolvers, preventing unauthorized access and ensuring confidentiality within the DAC. To minimize the fraud proofing window, MetisDAO decentralizes the rollup process and introduces L2 Rangers, who validate state roots efficiently. This approach streamlines withdrawal processes and enhances network efficiency.
Regarding recent developments, Metis has unveiled “The Metis Journey,” a groundbreaking $5 million DeFi incentive program designed to boost on-chain activity, attract new users, and facilitate cross-chain transactions. Starting with a significant allocation of 100,000 METIS tokens to Aave Protocol V3, renowned for its role in DeFi liquidity markets, the initiative aims to create a ripple effect of increased Total Value Locked, trading volume, liquidity, and opportunities within the Metis Andromeda Layer 2 network and the broader Metis economy. This program is part of a series of growth initiatives that will further expand the Metis ecosystem and user base, enhancing existing DeFi applications and fostering innovation.
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