Latest Updates

Dear Metistians,

I would like to update you on our work and efforts since our last conversation.

As I made clear in my last article, increasing blockchain usage and user onboarding are our primary focus to bring on the next million users into Metis ecosystem.

So, how do we achieve this in a fiercely competitive environment? What can Metis do to attract more users and builders? The answer lies in starting from the fundamentals and identifying what we are missing.

Foundational Key Focus Areas

We have reprioritized our focus into three value streams as highlighted below to further expedite the infrastructure decentralization and build out. Provide a builder and project focused environment to deliver innovative products and services quicker.

  1. D-Seq (Decentralized Sequencers)

Focus: Onboarding various sequencer nodes and LSTs, providing continuous support for them, and leveraging D-Seq nodes (as they are also owners of the network) to drive more high transaction volume and TVL Dapps joining the ecosystem.

  1. Ecosystem Excellence

Focus: Targeting existing and future partners and builders, helping them achieve more transactions and succeed within the Metis ecosystem.

  1. Grants/Incubations

Focus: Streamlining grant applications, project incubation, and investments leveraging the Metis Ecosystem Development Fund (EDF).

We heard feedback from builders that the original grant application process was too tedious. An updated process and partner platform will be released shortly.

D-Seq

With the support of our community, SNZ, Hashkey Cloud, OKX, B-harvest, Nodies and A41 have passed the CEG and are currently in the process of onboarding onto the Decentralized Sequencers. Also new LST protocols such as Stake.link and Velix have been approved by the community. Over 320K Metis tokens have been locked by various LSTs to participate in the block productions and security assurance for Metis network. We are steadily making progress.

Product and Tech Development

On the product and tech development front, the Metis team has been diligently working on several key initiatives:

  1. Lowering Gas Prices:
  • The gas fee has been adjusted to 1 gwei, based on community feedback. Now, a smart contract transaction costs less than 1 cent, making room for high-frequency transaction applications.
  1. Wallet Integration:
  • We are integrating with more Web3 wallets, such as OKX Web3 and Bitget, to attract retail users. Our goal is to break down barriers for wallet users trading on the Metis network.
  1. Decentralized Sequencers:
  • We have continuously updated decentralized sequencers and enabled withdrawal functions for sequencers. The know-how of D-Seq is complex, and we have been solving many edge cases over the past 8-9 months to increase network stability and liveness. Additionally, Artemis has opened the redeem function in its product.

Marketing Strategies

From a marketing perspective, we recognize the need to leverage the entire ecosystem’s power to promote Metis as a pioneer in innovation and a home for builders. We are working on several concrete initiatives, including:

  1. Overall Ecosystem Push
  • A comprehensive campaign to highlight Metis’s strengths and innovations.
  1. Builderthon
  • A six-month-long event designed to attract and support builders.
  1. Ecosystem-Wide Social Experiment
  • A social experiment will be released next week.

The Role of Memes

I also want to address the role of memes once more. Recently, the CoFounder of IOSG published an article suggesting that memes are a distraction for builders. However, I firmly believe that the world is a giant meme, and memes are an integral part of our culture.

Memes belong to the community and exist for a reason. As a platform, we have seen initiatives like Barsik and Caca continuously building, with more meme projects already in development. We need more meme projects to build on Metis, as they add a unique cultural layer to our ecosystem.

Conclusion

By focusing on these fundamental areas—Metis foundation key focus areas, expedited product and tech development, strategic marketing, and embracing memes—we aim to create a compelling and attractive platform for users and builders alike. Our goal remains to increase transaction volume and TVL, solidifying Metis’s position as an industry leader in innovation.

Thank you for your continued support and trust in Metis.

Best regards,

Kevin

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I sincerely thank you for always choosing to embrace users. And yes, I see that you are improving and I appreciate your efforts. “The future is decentralized”