CoinEdition
Published May 10, 2021 09:15AM ET
Updated May 10, 2021 09:30AM ET
Ethereum Layer 2 protocol Metis Raises $5M Funds in Total
More so, the new capital injection was led by Block Dream Fund, DFG, Master Ventures, Parsiq, Autonomy Capital, Genblock Capital, CryptoMeria. In addition, Waterdrip Capital, Kernel Ventures, AU21, Consensus Lab, M6, 7 o’clock Foundation. Also, YBB Foundation, Chain Capital, AC Capital, BMW Capital, Oasis Capital, Titan Ventures, Lotus Capital, CDF, and many community supporters.
However, this funding is considered the latest funding deal in recent months. In line with this, the early backers doubled down on their investment in the startup creating the infrastructure for the Web 3.0 economy.
Moreover, Metis has experienced huge growth in the last few months. Notably, Layer 2 Alpha testnet launched recently. However, in three weeks 12,632 wallets were created, 6,856 DAC (Decentralized Autonomous Company) registered, and 166,859 on-chain transactions made.
Even more, the first-ever community-minting Non-fungible Token (NFT) is also a huge success. More so, 12,118 wallets connected to the event, and 2,560 Tribes developed to achieve the goal of minting the NFT artwork, “Rebuilding the Tower of Babel”.
Metis CEO and Co-Founder Elena Sinelnikova said,
”We have never been so confident that we are on the right track to provide the easy-to-use and highly scalable Layer 2 infrastructure to promote the coming of the Web 3.0 era.”
The recently released Layer2 Decentralised Autonomous Organisation (DAO) framework is empowered by Matis. However, the initiative allows DeFi projects to create and manage their own DApps. However, with Metis Rollup, DeFi projects and DApp developers could work within an ultra-low-fee and more-function environment.
Co-Founder of Autonomy Capital Jason Tolliver also explained his opinion. Jason mentions that Metis aims to become the backbone of the Web 3 decentralized economy by aiming at scalability, decentralization, and user experience. Even more, they believe that Metis will achieve this goal and that they poised to position themselves as the dominant Layer 2 solution for Ethereum.
IDO campaign kicked off by Metis. Even more, it will collaborate with PAID Network’s IGNITION launchpad for an Initial DEX Offering on May 13.
The schedule of events related to the IDO
May 10: Lottery winners and IDO details announcements, 1-2 pm UTC May 13: Metis IDO – First pools open at 11 am UTC
All in all, Metis is building an easy-to-use, low-cost, highly scalable, and fully functional Layer 2 framework. In order to fully support the application and business migration from Web 2.0 to Web 3.0. Moreover, it integrates the Decentralized Autonomous Company (DAC) framework in its Layer 2 infrastructure.
This article was first published on coinquora.com
Continue reading on CoinQuora
Written By: CoinEdition
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.