A Year in Retrospect, Moving Forward
2022 was fascinatingly tantalizing. Building in web3 has not been an easy task, from the removal of COVID restrictions to supply chain interruptions, The Merge, a series of world-shaking liquidation cascades, and the start of the bear market. Metis’ past year was nothing short of extraordinary, despite the ups and downs of 2022, and we will continue to embrace these challenges as we progress.
This last year, our ecosystem underwent rapid expansion. Meanwhile, our team constructed and laid the groundwork for future improvements, with the goal of empowering mainstream blockchain adoption. Metis now has a global reach, thanks to our strong team and community ambassadors, with our largest and fastest growing communities in North America, Europe, Russia, Africa, and Latin America.
Let’s review and reminisce the successes of the past year:
Metis Ambassador Program
Metis ambassadors are a group of brilliant leaders from around the world who help our community expand by educating new members and spreading the news about the Metis Andromeda network. Ambassadors benefit from working alongside the Metis core team, gaining free access to Web3 training modules and exclusive events, and being recognized for their exceptional efforts and achievements. Metis values these contributions in building an engaged community and sparking the thoughtful conversations that will carry us into the future of web3.
Community Ecosystem Governance Program (CEG)
We were thrilled when we announced the launch of our CEG program; it was our first step toward decentralization, giving the community a say in which ecosystem initiatives Metis should support. This supports our vision of a network developed for and by the people. CEG is accessible to any project that will provide long-term and sustainable benefit to the Metis ecosystem. Once a project has cleared the CEG voting process, it becomes a community verified project (CVP) with access to Metis’ co-marketing tools and support.
Off-chain Data Storage
We were questioned about our thought process in this initiative, but we were later commended for our forethought. Metis is on the path to full decentralization, and providing off-chain data storage as opposed to on-line centralized data storage controlled by the Metis network. This is done through MemoLabs, which is utilized for rollup data and fraud-proof challenge processes. Metis is able to rollup and process higher amounts of transactions at once thanks to this approach, which results in our record low transaction finality and costs as compared to other chains and Layer 2s. With the off-chain storage and rollup capabilities, Metis is able to provide lower NFT minting fees and better DeFi incentives all while improving functionality not only for web3, but also web2 onboarding.
If you haven’t been to a MetisFest this year, make plans to attend at least one in 2023! We are continuously seeking new methods to not only engage but also educate the community. MetisFest is where we hold enticing and interesting conversations about current events and sentiments in the Web3 space through panel discussions and keynotes with some of the most prominent contributors in the crypto industry, followed by a night of dance and genuine connection. MetisFest is a free event, but space is limited, so be sure to follow them on Twitter for updates on upcoming MetisFest and Metis events.
Reputation Power Matrix was introduced earlier this year as a mechanism for sustaining value while also safeguarding privacy through the use of a privacy-first (individual-centric) framework. With the use of blockchain technology, protocol agnostic privacy preserving credentials, and NFTs, RPMatrix allows users ultimate control over their personal data and facilitates the separation of their digital and physical identities. Metis will grow to include all web3 ecosystems, connecting users, corporations, and product creators.
Continuous Growth in the Ecosystem
Despite the changing market conditions, Metis’ mission remains the same and continues to push forward in terms of progress. This success in growth can be attributed to our community and ecosystem-focused campaigns.
Metis Marathon began as a 26-week growth marketing initiative that we elected to extend due to its success and increased TVL. Several high-quality projects and protocols, including but not limited to Hummus, Synapse, Beefy, Poly Network, Chainlink, SushiSwap, and QiDAO, have been onboarded as part of the Metis Marathon, with many more to come.
In November, we celebrated #AndromedaWeek, to commemorate the one-year anniversary of the official launch of Andromeda MainNet. We cherish our community and recognize that without it, we would be nothing. During Andromeda Week, we conducted a website scavenger egg hunt, Metis team community AMAs, founders podcasts, and ambassador led community poker games and trivia- it was a busy week. PLUS, we enabled free bridging for new wallets, which resulted in the onboarding of nearly 1000 new wallets. We experienced growth in our Telegram, Discord, and Twitter communities throughout Andromeda Week, with around 500 new members joining us on these platforms.
We have a lot to be proud of when we look back at what we’ve accomplished, yet we are thrilled about 2023. Metis will carry on laying out the foundation of the web3 economy towards mass adoption. As stated before, we humbly embrace the challenges that come with building a new decentralized web3 infrastructure.
Metis Smart Layer2 will continue to be the execution layer, offering EVM equivalency, rapid transaction speeds, and minimal transaction costs. Still, we recognize the need to provide more scaling opportunities within the network, and we will diligently work to provide the additional functionalities and scale-ups required to strengthen the infrastructure for the entire Web3 economy.
From the application perspective, as we are aiming for a truly decentralized Web3 economy, the logic will start from how to support every individual to achieve data ownership and control privacy.
In order to support people to collaborate and generate value in a decentralized way in the Web3 space, DAC(Decentralized Autonomous Company) framework will build on top of the Metis Application Infrastructure to enable trustless collaborations, where use cases can be built to support Web3 builders, DAOs, traditional Web2 businesses, and most importantly — every single person — to thrive in Web3 space.
Metis has evolved into a thriving, on-chain, worldwide community, all linked by Metis Smart L2 infrastructure and our shared belief in web3. We are making great strides in decentralization because of the efforts of everyone who believes in Metis’ ability to build a thriving web3 economy.
On behalf of the Metis, Happy New Year!