Metis / 2024

29/10/2024

Metis has an ambition that is clear. It’s scaling Ethereum by pioneering a hybrid rollup system. Bringing business to Web3. Metis is setting a path for a Web3 that’s robust, collaborative, and secure. By decentralising the sequencer – the part of an L2 that orders the transactions – it takes away a single point of failure but even better, it helps feedback rewards from sequencers into the community.

Metis has:

• Integrated CCIP and data feeds from Chainlink

• Passed Aave vote whereby Metis can be used as collateral on Aave V3.

• Metis and ABGA launch GameFi $10mm grants fund with support of Google Cloud.

• Have ongoing Gitcoin Grants rounds. Quadratic funding round 1 complete.

• DFK Colosseum is coming to Metis, offering PvP combat mixed with DeFi.

An expansion into gaming exposes new users to Web3 whilst also building up transactions on Metis. With Aave and Chainlink it greatly fuels the growth of DeFi on Metis and it goes beyond that.

We are in another phase of crypto. The underlying tech is being adopted broadly across the world and countries are rushing to mine Bitcoin.

It is early in this phase, what is this phase?

It is the enterprise-institutional adoption phase, the pro-core phase as I say to the gnome at the bottom of my garden. Then it is mainstream adoption – or normie-core as my gnome says back to me.

Aave is a secure platform that is trusted by institutions, Chainlink is enabling second-by-second update of data to enrich assets on-chain. Blockchain is much more efficient than the legacy systems we have in terms of administration as it requires much less intermediaries, scalable, and quicker.

With players like BlackRock moving into crypto and exploring new financial instruments like tokenised assets, Metis is primed to ride this wave. Chainlink, a powerful force in decentralised oracles, has integrated its data feeds into Metis, enabling interoperability between multiple blockchains and traditional markets. This combination—scalability, interoperability, decentralization, and community-driven growth—is building a foundation that could push the expansion of Web3.

Enterprises will come on-chain, those chains that are willing to provide the help will be positioned well. Metis has done this from the start.

They are helping companies to get from zero to one, to help them understand their purpose and how to translate that into a DAC – a Decentralised Autonomous Corporation. Chainlink helps connect IoT devices to smart contracts thus helping supply chain management, it can help insurance, it greatly increases confidence in the true value of funds for asset managers, it provides DeFi with reliable data, which in turn increases trust in interacting with the crypto space.

What we will start to see is new generations of business whose entire lifecycle is on-chain. We will see more cards that form account abstraction to enable spending crypto in real life. Stablecoin access will go mainstream, it will be easier to send and interact with crypto.

Building community and business frameworks for future digital economies. As tech evolves, stablecoins and crypto gains more importance, Metis is pioneering Web3 by helping onboard the Web2 world.

There is a remarkable journey ahead for Metis.