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Brendon Lim
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METIS now available on Coinhako

METIS now available on Coinhako

We are thrilled to share that (METIS) is now listed on Coinhako!

What are Metis and METIS?

Metis is an Ethereum Layer 2 rollup platform that offers low gas fees, fast transactions, native storage, and high security. It aims to address Ethereum's scalability, speed, and high gas fee challenges, providing an accessible platform for businesses, dapps, and communities. As a Layer 2 solution, Metis is compatible with Ethereum Layer 1 and uses Optimism rollups for easy integration.

METIS is the native token on the Metis network. Its main uses are paying transaction fees on the Metis Andromeda network and staking for Decentralized Autonomous Companies (DACs) that confirm transactions. Users can also use METIS to purchase goods and services on the Metis protocol. 

There is a total supply of 10,000,000 METIS and METIS has traded for US $323.00 at its peak. 

How does Metis work?

As Ethereum can become slower and more costly during high demand, Layer-2 solutions like Metis aim to ease pressure on Ethereum by bundling transactions, processing them off-chain, then returning them to Ethereum. This enables faster, cheaper transactions. But Metis is more than just a scalability solution – it seeks to build infrastructure for the Web3 economy.

Additionally, Metis offers three core products:

NFT bridge and storage: Metis' NFT bridge enables transferring NFTs between Ethereum and Metis' Andromeda network. It also provides NFT storage via IPFS integration. 

Decentralized autonomous company (DAC) framework: Metis' DAC framework is designed to address governance, organization management, and incentive alignment. Members must hold and stake the DAC token to establish reputation. 

Polis middleware: Polis is a web wallet that records transaction history, which Metis plans to leverage as "reputation power" for users collaborating within DACs. These solutions function on Metis' Andromeda blockchain, which connects to the Ethereum network.

Why does Metis stand out?

There are several reasons to be excited about Metis, especially when it comes to its various features and functions: 

The Graph: An open-source protocol that enables efficient data storage and retrieval for blockchain networks, helping developers create decentralized apps. 

MemoLab: Optimistic rollups store transaction data on Layer 1 to minimize costs. Metis blockchain only stores necessary data on Layer 1, with the rest held off-chain in MemoLab storage, enabling faster and cheaper processing. 

Koris: The Koris platform specializes in creating DACs for corporate clients, providing them control over financial and business operations through smart contracts. 

Builder Mining Program: Metis blockchain rewards projects integrated into its ecosystem through the Builder Mining program, distributing 30% of gas fees among participating dApps. 

Polis: A tool that facilitates the migration of existing dApps from Ethereum to Metis layer-2, enabling low-code/no-code development of new applications.

What can you do with METIS on Coinhako?

METIS will be available for users to trade across all swap pairs on Coinhako.

To gain access to any of these trading pairs, you can either:

  1. Fund your SGD wallet on Coinhako instantly with PayNow (or any other supported payment method)
  2. Purchase METIS instantly with Visa / Mastercard 

Please note that the sending and receiving of METIS will not be available for this release.

Risk Warning on Digital Payment Token Services

Hako Technology Pte Ltd ("Coinhako") is licensed to provide digital payment token services under the Payment Services Act 2019 (No. 2 of 2019).

The Monetary Authority of Singapore ("MAS") requires us to provide this risk warning to you as a customer of a digital payment token ("DPT") service provider.

Before you pay your DPT service provider any money or DPT, you should be aware of the following.