CVP Proposal: Metiscriptions - 1st inscriptions infrastructure on METIS DAO

Introducing Metis Inscriptions

With Metiscriptions, users can permanently record a wide range of data on the Metis Dao blockchain with unparalleled simplicity and efficiency. It offers a smooth combination of professional trading experience and seamless engagement.

Using transaction calldata, metiscriptions are a novel approach to produce and distribute digital artefacts on Ethereum layer 2 Metis Dao. Metiscriptions protocol enables users to exchange data and carry out calculations on Ethereum L2 Metis Dao for a much reduced price (compared to smart contract interactions). To do this, metiscriptions applies deterministic protocol rules to “dumb” Ethereum calldata, computing state instead of storing and executing smart contracts.

Metiscriptions concept simplified:

Create met-20 with the deploy function
Mint an amount of met-20’s with the mint function
Transfer an amount of met-20’s with the transfer function
Met-20 balance state can be found by aggregating all of these function’s activity together.

Metis Dao & Metiscriptions: Mutual benefits

Metiscriptions protocol on the Metis DAO chain will mark a significant milestone, ushering in a host of benefits for the platform. Foremost among these advantages is the potential to attract a substantial influx of new users.

Historical data indicates that inscriptions on other EVM chains constituted approximately 90% of total transactions in recent weeks, underscoring the pivotal role that such activities play in driving network engagement. Beyond the immediate surge in user participation, this phenomenon is likely to catalyze secondary benefits, fostering network growth, and enhancing the overall ecosystem dynamics on the Metis DAO chain.

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Hello @METISCRIPTIONS what the project stage? Website doesn’t work