About Metal (MTL)
Metal Pay is a blockchain-based system developed by Metallicus, Inc. that harnesses a Proof-of-Processed-Payments (PoPP) mechanism to identify users and reward them for converting traditional fiat currencies into cryptocurrencies. Metal Pay purportedly aims to further the mass adoption of crypto by acting as a bridge to the world of cryptocurrencies. Metal Pay is powered by the Metal ($MTL) token. The live price of MTL is available and tracked on Binance.
Metal Pay utilizes its novel PoPP consensus system to verify users' identity and reward them by giving users a certain amount of tokens when they use the wallet to transfer, pay and send money, and rewarding those who convert fiat currency to cryptocurrency. Unlike other blockchain platforms, Metal Pay does not charge fees and reportedly prioritizes rewarding users with a specific amount of MTL. This approach aims to encourage more users to adopt Metal Pay wallets by providing incentives.
Metal Pay also partnered with Visa to make the Metal Pay Credit Card, allowing users to spend USD directly with the card and earn crypto rewards.
Metal Pay has no on-chain governance. Users wanting to participate in the network must have an established identity due to Metal use's proprietary anti-money-laundering and anti-fraud technology. This is done to integrate high-risk users into the platform and get them started with a cryptocurrency payment platform for their business needs.
Metal Pay is available on the Apple App Store and the Google Play Store.
Future plans by Metallicus, Inc. include building its proprietary layer zero blockchains that its products can exist on, allowing its products to be interoperable with various blockchains. This layer zero blockchain would give users access to a wide range of assets.