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Written by Kevin Liu, Co-Founder & Product Lead at Metis
Compiled by: Shaofaye123, Foresight News
To the Metis Community:
I recently spent ten days in Singapore, engaging with potential partners, liquidity providers, and our team. Elena, Yuan, and Tom were also in attendance, and the Gamfi launchpad was announced in partnership with ABGA and Google Cloud. I wanted to share with you some of the insights and insights I gained from the event.
Ethereum Needs Layer 2
Vitalik Buterin recently discussed the progress and vision of L2 in synergy with Ethereum:
Stages of L2
Ethereum Alignment
Faced with the rise of other high-performance blockchains such as Solana, Sui, Aptos, and the upcoming Berachain and Monad, competition in the public chain is becoming increasingly fierce. Despite this, Ethereum's approach to scalability through Layer 2 remains unique - it balances decentralization and efficiency without sacrificing security for speed. This vision is supported by Vitalik and the Ethereum community, and it strengthens the belief that Ethereum will continue to lead the decentralized ecosystem with the support of Layer 2.
At Metis, we strongly believe in and are committed to driving L2 technology forward. We recently doubled the size of our development team and are actively:
Strengthening the D-Seq Framework
Migrate to Ethereum Blob
Developing Fraud Proofs
Expanding cross-chain accessibility and interoperability, pioneering Chainlink Tapered CCIP integration
All of this is aimed at consolidating our position in the L2 ecosystem. By aligning with Ethereum’s roadmap and vision, Metis will not only contribute to Ethereum’s scalability, but will also remain at the forefront of innovation in the blockchain space.
User growth and ecosystem expansion
We established our user growth strategy and the management team restructured our grant framework. Our recently released Metis Grant Framework formalizes our approach to processing grant applications and further advances decentralization efforts. We are working with Gitcoin, Thrive, and portfolio company P1X to bring high-quality projects into the Metis ecosystem and share the responsibility of verifying grant applicants and project milestone delivery. This will ensure greater community involvement and transparency as the ecosystem grows.
DeFi Kingdoms Metis exclusive PVP Colosseum game is coming soon, and the Faith Arena tournament is about to start. We hope to attract more interesting games through the new Gamfi launchpad.
Artemis has accumulated more than 240,000 Metis staked. Multiple partners including OKX Earn, Hashkey Cloud, SNZ, TEB, etc. will also join our sequencer. With D-Seq as an anchor, we see exciting business opportunities, including MEV and new global partnerships, especially in the highly active Asia-Pacific region...
Metis: The Innovator
Metis is one of the first platforms to launch L2 mainnet, along with Arbitrum and Optimism. We are the first to use Metis tokens to pay for gas, implement off-chain DA (now represented by EigenDA and Celestia), and build D-Seq. We are also a pioneer in pushing the boundaries of decentralized development.
Our approach to sustainability is unique. By incubating and investing in different sectors, we can A/B test different business ideas to see if they are viable. Here are some examples:
Shared Governance: The governance framework will benefit all of the Foundation’s portfolio companies.
D-Seq Enhancements: Improvements to D-Seq by Metis L2 and GOAT Network form a positive feedback loop, accelerating progress in the underlying technology stack.
Security and Rewards: The Metis Foundation operates sequencer nodes for the Metis L2 and GOAT networks, ensuring security while obtaining mining rewards and returning them to the community.
zkVM: With ZKM, Metis becomes the first OP L2 with ZKP integration capabilities, which also expands the foundation's influence from Ethereum to Bitcoin. In the future, zkVM can also work with MoveVM, Solana VM, etc. to expand to more fields.
As our portfolio companies expand into different sectors, we are strengthening the sustainability of the Foundation’s vision of building a decentralized economy.
The future is about to happen
As we further build out the core infrastructure needed to scale the decentralized web, we see our vision becoming a reality.
One of the major advances we are about to make is the integration of a hybrid convolutional solution powered by ZKM. This unique approach combines the strengths of ZK proofs and the Optimistic framework. ZKM will allow us to scale BTC utility on-chain in ways that were not possible before. This innovation makes Metis a pioneer in enabling seamless cross-chain liquidity, which is critical in a highly decentralized economy.
In addition to technological innovation, we have strategically expanded our business into emerging markets. Over the past 12 months, Metis has been working closely with forward-looking teams in the fields of machine learning, DePin, and payments. By working with pioneers in these fields, Metis is expected to capture real value in areas such as artificial intelligence, decentralized infrastructure, and borderless payments.
As we continue to evolve our governance model, three key initiatives are underway to increase community engagement and operational efficiency:
Optimize voting mechanism
Improving incentives for community participation
Simplify the operation process
By analyzing voter behavior, exploring innovative reward systems, and identifying areas for automation, we are laying the foundation for a stronger, more participatory, and more efficient governance structure. These efforts will not only strengthen our decision-making processes, but will also pave the way for greater decentralization and community empowerment in the Metis ecosystem.
Metis Token Value
Currently, the value of the Metis token is primarily tied to user activity on Metis L2. However, through our incubation of projects such as GOAT Network (ZKM), Nuvo, P1X, Artemis, etc., value capture will be extended to the entire portfolio. Token holders who lock up Metis will be eligible to receive tokens from these portfolio companies. I suggest that we conduct a community vote to formalize this "holder mining" plan.
