Metis to Launch Andromeda, Honoring Our Commitment to Decentralization

The shift to EVM Equivalence

  • a Layer 2 Ethereum Rollup enabling fast and cheap transactions
  • no-code middleware enabling anyone (even total blockchain novices) to migrate onto Metis Layer 2 in just a couple of minutes and a few clicks, thanks to our smart contract templates
  • a Decentralized Autonomous Company (DAC) infrastructure that goes far beyond the simple voting and governance functions of DAOs, enabling anyone to build decentralized businesses on-chain, with all the real-world functions of a “real-world” company, and all the benefits that come with being built on blockchain.

How Metis will achieve EVM Equivalence and decentralization

So what happens next?

What should you expect from Andromeda?

  • The Andromeda Layer2 network
  • Multi-VM: decentralized virtual machines to support the scalability and security of Metis Layer 2 infrastructure
  • Peer Nodes: to perform fraud proofs and reach consensus during the process of load balancing
  • EVM Equivalence: no need to tailor or modify your EVM smart contracts anymore
  • Metis Explorer: check all on-chain transactions and verify smart contract calls (for high-end users)
  • Metis Bridge: a bridge to transfer tokens between Ethereum mainnet and Metis Layer 2. In the current version, you’ll only be able to bridge $METIS tokens; more tokens and NFTs will be available for bridging in our following Layer 2 network releases.
  • Polis: the place for users to create their account (wallet) or connect with MetaMask, and also the place for developers to manage their domains, smart contracts, and APIs.
  • First DAC template and DApps running on the Metis Layer 2 network, Andromeda
  • DAC Staking and Mining: harnessing the power of community to create your own DACs on Layer 2, stake, and gain rewards.

What’s coming after Andromeda?

  1. A fast bridge collaborated with several third-party cross-chain bridges (we will announce more details once we choose the right ones) to shorten withdrawal time. In the current version of our Layer 2 network, people will still need to wait seven days to withdraw from Layer 2 to Layer 1. In a future network release, withdrawals will occur in a matter of minutes. Metis’ native withdrawal bridge enabling fast withdrawals, along with our Ranger system, will be launched next year.
  2. After launching Peer Nodes on Andromeda, load balancing will be supported in our next network release (next month).
  3. Transaction costs on Andromeda will fall well below Ethereum Layer 1 levels, but will still remain relatively high (now around $1-$2) compared to our future plans. Metis will launch its IPFS technology early next year, enabling inexpensive, on-chain data storage, and transactions on our Layer 2 network that will cost just a few cents.

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MetisDAO

MetisDAO

Layer 2 protocol to run Decentralized Economies