{"id":9141,"date":"2021-05-18T09:32:51","date_gmt":"2021-05-18T06:32:51","guid":{"rendered":"https:\/\/esatoshi.club\/?p=9141"},"modified":"2021-05-18T09:35:05","modified_gmt":"2021-05-18T06:35:05","slug":"metisdao-x-satoshi-club-ama-recap-from-11th-of-may","status":"publish","type":"post","link":"https:\/\/satoshi-club.esipick.com\/index.php\/2021\/05\/18\/metisdao-x-satoshi-club-ama-recap-from-11th-of-may\/","title":{"rendered":"MetisDAO x Satoshi Club AMA Recap from 11th of May"},"content":{"rendered":"\n

Welcome to another episode of our AMA series. Today we are glad to tell you about the AMA session with our friends from MetisDAO<\/a>, a platform where you can build your blockchain, DeFi or NFT business without being a developer. The AMA took place on May 11 and our guests were Elena Sinelnikova (co-founder) and Kevin.<\/p>\n\n\n\n

The total reward pool was 500$ and was\ndivided into three parts. In this AMA Recap we will try to summarize some of\nthe most interesting points for you.<\/p>\n\n\n\n

\n\n\n\n

PART 1, INTRODUCTION AND COMMUNITY\nQUESTIONS<\/strong><\/p>\n\n\n\n

Paul Mont | Satoshi\nClub:<\/strong> Hello Satoshi Clubbers! Today we are excited to announce our AMA\nsession with MetisDAO! Welcome to Satoshi Club. @elena_cryptochicks\n@kevinmetislab!  Welcome! Great to have\nyou here!<\/p>\n\n\n\n

Gold Rocket | Satoshi\nClub: <\/strong>Today our guests are @elena_cryptochicks @kevinmetislab!<\/p>\n\n\n\n

Elena Sinelnikova<\/strong>:\nHi everyone! Happy to be here, Thank you for the invite! Waiting for\n@KevinMetisLab to join.<\/p>\n\n\n\n

Paul Mont | Satoshi\nClub: <\/strong>Please tell us more about your background. How did you get to be\ninvolved in crypto & MetisDAO?<\/p>\n\n\n\n

Elena Sinelnikova:<\/strong>\nMy name is Elena Sinelnikova. I am Founder of CryptoChicks.ca and Metis.io. I\nhave a tech background – over 20 years\u2019 experience working as Microsoft\nsolutions architect in Canadian government and law enforcement. In 2015 I\nbecame interested and started learning in blockchain. In 2017 me and my friend\nNatalia Ameline founded Crypto Chicks – a female organization focused on\nblockchain education for women. We started it as a small meetup group and\nnowadays it grew to have chapters in 56 countries. <\/p>\n\n\n\n

I met my two Metis co-founders a few years ago – Kevin Liu,\nwho is an excellent product manager and released products before with 100\nmillion downloads and Yuan Su, who was in the IBM team that built the very\nfirst Hyperledger. We were partners in one of the educational projects with\nCryptoChicks. Then we worked together on the Token Economy Institute project\nthat grew into Metis Protocol. We have a long history before we became\nco-founders for Metis. Now Metis has 26 people working on the project – we\naccomplished so much! Creating a great product!<\/p>\n\n\n\n

Gold Rocket | Satoshi\nClub: <\/strong>What is the essence of MetisDAO?<\/p>\n\n\n\n

Elena Sinelnikova: <\/strong>Metis\nis a platform where you can build your blockchain, DeFi or NFT business without\nbeing a developer. We are building the platform for people as well as companies\nto benefit from the perks of blockchain technology without being aware so much\nthat they do so on the blockchain. There are lots of barriers for people to\nreally use blockchain for business – we tackle all the barriers.<\/p>\n\n\n\n

We built a tech to protect our users from the hiking gas\nfees and provide them with high throughput of transactions and at the same time\nprovide them with all the perks of blockchain such as trust, security and\ntransparency but with added rich functionality and minimal learning curve. Nowadays\nin order to use blockchain hence to start the business, you need to be tech\nsavvy and prep lots of funds to hire expensive blockchain developers. We are\nbuilding a tech that allows anyone to launch business on blockchain without\nmoney or special skills. Come to the Metis platform, create your business unit\n– we call it DAC (Decentralized Autonomous Company) in two clicks and launch\nany of the following: NFT minting and trading business, freelance business, freelance\nbusiness.<\/p>\n\n\n\n

Kevin:<\/strong> An active\nresearcher of the Token Economy, DAO and the governance protocols. A serial\nstartup entrepreneur.<\/p>\n\n\n\n

Q1 from Telegram User\n@yellowchamp<\/strong><\/p>\n\n\n\n

One of the feature of\nMetis Dao is an Optimistic Governance in which stated in your website that \u201cthe\nbest governance is NO governance at all\u201d so can you explain more about this\nstatement? How does Optimistic Governance work in Metis Dao? What is the role\nof the community in your platform since you are in an Optimistic Governance\nform of management? How it affects investors? What is the strong points of\nhaving an Optimistic Governance? Thank you.<\/em><\/p>\n\n\n\n

Elena Sinelnikova: <\/strong>Metis\nplatform implements Optimistic Governance, which means anyone will be able to\ncreate an account and use blockchain features to do the business on the\nplatform, but needs to play by blockchain rules to prove that they are good\nplayers. For example, once you create an account you get an NFT passport where\nall your deeds on the platform get recorded and you keep earning the\nreputation. You can\u2019t buy reviews on the platform, like for example you can buy\nuser reviews for centralized ones.<\/p>\n\n\n\n

Another part of the Optimistic governance on Metis is\nstaking and pullback, which means you will need to stake some amount of tokens\nto start the collaboration with others on the platform. These tokens will be\nreturned to you once collaboration is completed. You also will be paid and\nrewarded by Metis token on the platform. We made this process extremely simple.\nWe made this process extremely simple.<\/p>\n\n\n\n

Paul Mont | Satoshi\nClub: <\/strong>So reputation is individual for users, but also there is a DAC\nreputation as well?<\/p>\n\n\n\n

Elena Sinelnikova: <\/strong>It\nis completely decentralized and not controlled by any centralized entity, not by\nMetisLab company that created it, not by the government. Everything is based on\nyour own performance, collaborations and contributions. Next question.<\/p>\n\n\n\n

Q2 from Telegram User\n@victorogb<\/strong><\/p>\n\n\n\n

MetisDAO recently\nannounced its strategic partnership with Gate.io, that will allow $METIS to\ntrade on Gate.io thereby joining Uniswap as the second exchange that will also\nallow investors trade $METIS tokens. Gate.io will as part of the agreement,\nhost a sale of METIS tokens on its startup platform and participation is\nsubject to meeting certain conditions and criteria. Therefore, what are the\ngeneral requirements to participating in this sales and are there separate\nrounds and investment categories available to traders, what is the long term\nprojection of MetisDAO in terms of expansion and listings on.<\/em><\/p>\n\n\n\n

Kevin: <\/strong>As it\ndescribed in Gate.io, to participate in the startup sales, you should be VIP1\nlevel, please check https:\/\/www.gate.io\/en\/article\/20681\/?ch=en_sm_0521<\/a>  for more details. We have finished all the\nfundraising rounds, and will start to trade on May 13th. So there will be no\nseparate rounds available. Metis supports decentralized business running on our\nlayer 2, Metis Rollup. So we support various applications, including Defi, NFT,\ncollaborations, and many more innovations. The expansion of our ecosystem will\nbe fast but steady. And more listing on exchanges will be coming soon.<\/p>\n\n\n\n

Elena Sinelnikova: <\/strong>BTW\nthere are lots of scammers that impersonate Metis now, so please be careful.\nJoin our telegram group to have the truthful information : https:\/\/t.me\/MetisDAO<\/a> <\/p>\n\n\n\n

Q3 from Telegram User\n@Highpee<\/strong><\/p>\n\n\n\n

Most decentralized\nCrypto platforms often offer unhindered and unrestricted access to their docs,\nblogs and project resources in other to acquaint investors with both capital\nand small letters details of their projects. However, after being able to scan\nthrough few articles on your medium, I was denied access to further documents\nand was told I have to subscribe in order to educate myself about your project.\nWhy are you monetising your documents and repositories? Don\u2019t you think this\ncan be discouraging to interested users who wish to get informed about\nMetisDAO? Is this not against the decentralised principle of being open source\nand transparent or was this collectively agreed by your ecosystem?<\/em><\/p>\n\n\n\n

Elena Sinelnikova: <\/strong>You\nhave probably hit the Medium restrictions that has nothing to do with Metis.\nAll our articles are available to everyone, You can have access to all Metis\nmedium articles via metis.io website: https:\/\/www.metis.io\/learn\/<\/a>\n<\/p>\n\n\n\n

But this centralization issue is exactly what Metis is solving.\nAs a decentralized platform Metis will be providing Knowledge Management\nfeature to the participating projects, companies and individuals based on their\ncontribution. You contribute to Knowledge management and you get to use the\nKnowledge Management contributed by others. All rewards will be based on the\ncontributions. No one can ban you or deny your account. It is fully\ndecentralized.<\/p>\n\n\n\n

Gold Rocket | Satoshi\nClub:<\/strong> Thank you very much for the clarifications and answers! this is very\nimportant information.<\/p>\n\n\n\n

Elena Sinelnikova:<\/strong>\nWe do it via our Layer 2. Metis is building a whole new Layer 2 framework\n(called Metis Rollup) to support the decentralized economy running on the\nblockchain. Various Layer 2 solutions, including rollups, state channel, and\nplasma, are all aiming to reduce fees for users and increase transaction\nthroughput. But for Metis, we jumped out of the box. <\/p>\n\n\n\n

Compared with other Layer 2 solutions, Metis is highly\nscalable (supporting multiple virtual machines), highly functional (micro\nservice framework for easy extension of toolkit), highly usable\n(EVM-compatible) and self-sustainable (supports DApps\/communities to launch\ntheir own tokens). Metis also defines a new DAO structure, DAC (Decentralized\nAutonomous Company). DACs act as the fundamental unit to support the operation\nand management of decentralized applications, communities, and business.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Q4 from Telegram User\n@Jonahapagu<\/strong><\/p>\n\n\n\n

For verification and\nvalidation purposes, the Metis platform uses the concept of L2 Rangers in their\nMVM (METIS Virtual Machine) \u2026 can you explain how this concept works, who makes\nup the L2 Rangers, what do they do in the validation and verification process,\nwhat benefits do the L2 Rangers get as Validators, and how can users become\nmembers of this special DAC called L2 Rangers.<\/em><\/p>\n\n\n\n

Elena Sinelnikova: <\/strong>Users\ncan stake a certain amount of metis tokens to participate in the ranger DAC.\nDAC (Decentralized Autonomous Company) they will be assigned a random range of\ntransactions from all DACs along with the starting stateroots. The rangers will\ncompute and submit the state root. a challenge process will trigger if the\nmajority of the assigned rangers resulted in a different state root from the\none submitted by the sequencer.<\/p>\n\n\n\n

Rangers will get reward or penalized based on the challenge\nprocess, Rangers will also be able to mine Metis tokens when they participate\nin the exercise. The consensus among the rangers are done via power of stake.\nWe are currently in the process of patenting this technology as it outperforms\nall our Layer 2 competitors, So, I am very proud of the tech that we built!<\/p>\n\n\n\n

Paul Mont | Satoshi\nClub: <\/strong>You should, the underlying design is apparently brilliant! Thank you\nfor the comprehensive answer. <\/p>\n\n\n\n

Q5 from Telegram User\n@cryptofollower<\/strong><\/p>\n\n\n\n

I see on your website\nabout Metis token airdrop is coming up soon. Is it only for early investors or\nis it for the all community? What are the requirements we need to participate\nfor the airdrop? Also I couldn\u2019t find anything about Metis token tokenomics on\nyour whitepaper. Could you please tell us about Metis token and what are the\nfeatures for long term investors?<\/em><\/p>\n\n\n\n

Kevin: <\/strong>I will\ntake this one. Airdrop is for all the community, for the one we are doing with\nCoinmarketcap, https:\/\/coinmarketcap.com\/currencies\/metisdao\/airdrop\n\/<\/a>  anyone can participate. We also\nhave our alpha testnet on the run(https:\/\/alphatest.metis.io\/account\/login?next=%2F<\/a>)\n, people can try to build your own decentralized company(DAC) on our Metis\nLayer2 platform, do tasks and knowledge collaborations, and get rewards for\nparticipating and hunting bugs.<\/p>\n\n\n\n

For Metis Token, it\u2019s the utility token for staking into the\nsystem as a commitment to conduct collaborations. It is also the medium of\nexchange for all the DAC business activities or the tokens that these DACs will\nissue.   It is also the medium of\nexchange for all the DAC business activities or the tokens that these DACs will\nissue.<\/p>\n\n\n\n

for the token allocations and vesting schedule, please find\nmore information here  https:\/\/www.gate.io\/en\/article\/20681\/?ch=en_sm_0521<\/a>\n<\/p>\n\n\n\n

Paul Mont | Satoshi\nClub: <\/strong>By the way, let me tell you, I was astonished by the \u201cRebuilding the\nTower of Babel\u201d initiative, it managed to gather so much interest\u2026 which\nresulting in a 16.1 ETH selling price. You guys must be proud of the outcome as\nwell as the outstanding community involvement!<\/p>\n\n\n\n

Kevin: <\/strong>yes, 12K\nwallets connected to participate this event, it all proves that we are on the\nright track, providing easy-of-use and fun to play with.<\/p>\n\n\n\n

Elena Sinelnikova: <\/strong>https:\/\/opensea.io\/assets\/0x5628d3eec4349e70541721bfc9f6ef7d70969d1b\/0<\/a><\/p>\n\n\n\n

https:\/\/tribe.metis.io\/home<\/a>   This is the real one! Beware of the fake\nones that popped up on OpenSea now too.<\/p>\n\n\n\n

Q6 from Telegram User\n@NataliyaKil<\/strong><\/p>\n\n\n\n

I found out that\nMetisDAO has some kind of user rating. What is this rating, what does it depend\non, what benefits does it bring to the users themselves, who generally monitors\nthe updating of this data and how often is it updated? The users themselves have\naccess to this information, is there any section or table of this rating on\nyour site?<\/em><\/p>\n\n\n\n

Elena Sinelnikova: <\/strong>You\nare talking about the NFT passport – I touched on it earlier. NFT passport is\nused to track your activities on the platform – good and bad and adjust your\nReputation Power automatically without anyone’s involvement. You will be able\nto stake this token to start a new collaboration, So, the other party can see\nyour reputation and decide if they want to deal with you or not. This is the\nmechanism for the true rating. If you are a good player and complete all\ncontracts and collaboration on time and provide value to other players on the\nplatform – your reputation will grow indefinitely.<\/p>\n\n\n\n

Paul Mont | Satoshi\nClub: <\/strong>So basically more reputation, more collaboration opportunities,\nright?<\/p>\n\n\n\n

Elena Sinelnikova:<\/strong>\nIf you overlook something or deliberately did something wrongful – your\nreputation will be deducted.<\/p>\n\n\n\n

Paul Mont | Satoshi\nClub: <\/strong>It seems like a win-win design to me.<\/p>\n\n\n\n

\n\n\n\n

PART 2, TELEGRAM COMMUNITY LIVE QUESTIONS<\/strong><\/p>\n\n\n\n

The chat was open for 120 seconds; a\nlot of questions were posted by Satoshi Club community. Our guests chose some\nof them.<\/p>\n\n\n\n

Q1 from Telegram User @highpee<\/strong><\/p>\n\n\n\n

You had a special NFT Airdrop tagged:\n“Rebuilding The Tower of Babel”. I can see that the total available\nNFT Airdrop is 2560 and total claim is 256. Does it mean that there are still\nNFTs left to claim? And since you said you will have 256 tribes, are the number\nof claims completed already?<\/em><\/p>\n\n\n\n

Elena Sinelnikova: <\/strong>We ran the Tower of Babel community\nbuilding and on boarded 2560 communities. All of them received NFT token that will have mining power in\nMetis, it means they will be able to mine Metis tokens. The first 256 received\nthe monetary reward from the Tower of Babel OpenSea auction proceeds (16.1 ETH\ndivided by all). The rest claimed NFT to mine in the future.<\/p>\n\n\n\n

Q2 from Telegram User @highpee<\/strong><\/p>\n\n\n\n

Why is it necessary for you to create\nyour own Layer 2 solution when we have other popular rollups like zk-rollups,\noptimism, Matic etc? How proven is METIS Rollups technology as it compared with\nothers and can it allow faster and secure decentralized user experience on the\nEthereum blockchain network faster than other available alternative?<\/em><\/p>\n\n\n\n

Kevin: <\/strong>We have studied rollup for quite a\nwhile, I have to say they made a lot of progress, but the current mechanisms\nstill have a lot of room to optimize. For Optimistic rollup, it is still very centralized\ndesigned, with one virtue machine to control all the application\u2019s operation.\nAnd also its withdraw time is too long (1-2 weeks to withdraw money from Layer2\nto layer1), and no privacy configurations for business who hope not to disclose\nconfidential information. These are just some examples that Metis is optimizing.<\/p>\n\n\n\n

Q3 from Telegram User @TrickyMoeid<\/strong><\/p>\n\n\n\n

The gas fee on Ethereum blockchain is\ncrazy high. Why did you decided to build your project on ETH? Any plan to\nincorporate with other Blockchain such as BSC?<\/em><\/p>\n\n\n\n

Elena Sinelnikova: <\/strong>Metis solves exactly this problem –\nwe will help to lower down the transaction gas fees via our rollup solution, so\nour users don\u2019t have to worry about the gas cost, and can focus on the business\nand community development. We also built out tech the way that it is portable\nto other blockchain. We also built out tech the way that it is portable to\nother blockchain. We also built out tech the way that it is portable to other\nblockchain. For example,\nwe already have a plan in place to settle transactions on Casper blockchain as\nwell. Other blockchain can be also the option – we will make an announcement\nabout that if anything like that is decided.<\/p>\n\n\n\n

Q4 from Telegram User @Robotliker1<\/strong><\/p>\n\n\n\n

What are the biggest milestones\nachieved by your project till now? What are your strengths and weakness of the\nproject?<\/em><\/p>\n\n\n\n

Elena Sinelnikova: <\/strong>We have released the Layer 2 alpha\ntestnet, and also launched a demo app called \u201cPrologue\u201d to demo the speed and\nlow cost of Layer 2, you don\u2019t have to spend so much gas cost and wait for a\nlong transaction time to conduct the onchain actions. Please try to test and\ncreate your very first Decentralized Company (DAC) on Metis, the test linkage\nis alphatest.metisdao.org<\/p>\n\n\n\n

The testing\nhas gone through 3 weeks, now we have 12,683 Wallet Created, 6,856 DAC (Decentralized\nAutonomous Companies) Created, Testnet Transactions number is 166,859, Layer2\nSmart Contract Calls number is 22,607. So just in 3 weeks, we have received so\nmuch interest from the community without any promotion. This was our Freelance\nuse case that users of our future platform can take an advantage off – as I\nsaid you will be able to run business, so for those whose business is\nfreelancing – they can already see how it works on Metis platform.<\/p>\n\n\n\n

We also\nlaunched The First-Ever Community-Minted NFT Event: Rebuilding the Tower of\nBabel – we talked about it already, 12,118 Wallets Connected with this event,\ncreated 2,560 Tribes in 100 minutes, and the number of full Members (15 Wallets\nTrusted) Tribes is 1,204.<\/p>\n\n\n\n

We are\nfocusing on developing our Layer2 and in parallel the priority use cases, for\nexample freelance use case, secure messenger with ability to send crypto, NFT\nminting and trading usecase. We are forming strategic partnerships with other\ncompanies that are ready to build on top of our Layer2 and become the part of our\necosystem. As of now lots of NFT companies reached out to us – they would like\nto use no gas fees advantage to min and trade their NFTs.<\/p>\n\n\n\n

Q5 from Telegram User @Sumione<\/strong><\/p>\n\n\n\n

What do you have on your roadmap\nahead in next three months? what are your priorities and long term goals??<\/em><\/p>\n\n\n\n

Kevin: We\nwill have another version of testnet coming next month, which will allow more\ndevelopers to develop on our layer 2, and in 3Q, we will have our mainnet\nlaunched. The priority for us is to build a builder-friendly environment to\nallow a lot of developers and projects to build applications on the blockchain,\nno matter they know blockchain technology or not. In the long term, we hope to\nbe the infrastructure to support the whole web 3.0 economy running on the\nblockchain.<\/p>\n\n\n\n

Q6 from Telegram User @Tony253210<\/strong><\/p>\n\n\n\n

MetisDAO claims that is the solution\nof current DAO issues, but Which problems exactly? Can we know How do you\nimprove the DAO mechanism?<\/em><\/p>\n\n\n\n

Elena Sinelnikova: <\/strong>As of now lots of NFT companies\nreached out to us – they would like to use no gas fees advantage to min and\ntrade their NFTs.<\/p>\n\n\n\n

Q7 from Telegram User @Manugotsuka<\/strong><\/p>\n\n\n\n

In your website it’s explained that\nMetisDAO use a Reputation Power System, so can you tell us how the Reputation\nworks in your ecosystem? How users can get Reputation and which benefits brings\nhave it?<\/em><\/p>\n\n\n\n

Elena Sinelnikova: <\/strong>You will be able to enjoy our\nReputation Power tracking mechanism where no one will be able to buy or fake\nthe user reviews and therefore you will be able to engage in the collaborations\ntrusting the other party – your client, your service provider or any other\nplayer on the platform.<\/p>\n\n\n\n

Q8 from Telegram User @joson0305<\/strong><\/p>\n\n\n\n

Can you tell about your listing\nplans? Especially the ones involving major exchanges, CEX and DEX. What types\nPartnerships you are looking for and what values would they bring?<\/em><\/p>\n\n\n\n

Elena Sinelnikova: <\/strong>Right now we are listing on Gate.io\nand Uniswap. These are the first steps. We will be listing on other exchanges\nas we progress!<\/p>\n\n\n\n

Q9 from Telegram User @Xusuo<\/strong><\/p>\n\n\n\n

Can you explain about what is\n‘Rebuilding The Tower of Babel’ NFT? It\u2019s amazing that already sold for\n16,1ETH, what will be the fund use for?<\/em><\/p>\n\n\n\n

Elena Sinelnikova: <\/strong>The funds were shared already between\nall that participated in our community building. We had showed the power of the\ncommunity with this. We are awarding our earlier testers, so in order to get\nrewarded with Metis tokens in the future, please subscribe to out newsletter\nand participate in our testing activities: https:\/\/metis.io\/Subscribe<\/a> <\/strong><\/p>\n\n\n\n

Q10 from Telegram User @Tony253210<\/strong><\/p>\n\n\n\n

MetisDAO claims that is the solution\nof current DAO issues, but Which problems exactly? Can we know How do you\nimprove the DAO mechanism?<\/em><\/p>\n\n\n\n

Kevin: <\/strong>the issues\nof current DAOs are most of them are only a voting shell structure, while\nvoting is only a small part of the whole story if you operate a business in the\nphysical world, you cannot have shareholder\u2019s or board of directors meeting\neveryday, you will need a concrete management structure to manage and operate\nthe business, we hope to make DAO become a real entity to conduct decentralized\ncollaborations and business operations.<\/p>\n\n\n\n

\n\n\n\n

PART 3, QUIZ AND INFO<\/strong><\/p>\n\n\n\n

As usual, for the third part, Satoshi\nClub Team asked the chat 4 questions about MetisDAO. A link to a\nQuiz form was sent into the chat. Participants had 10 minutes to answer. 300$\nwere distributed between the winners. <\/p>\n\n\n\n

For more information and future AMAs, join our Social Media\nchannels: <\/strong><\/p>\n\n\n\n

English Telegram\ngroup: https:\/\/t.me\/Satoshi_club<\/a>\n<\/p>\n\n\n\n

Russian Telegram\ngroup: https:\/\/t.me\/satoshi_club_ru<\/a>\n<\/p>\n\n\n\n

Spanish Telegram\ngroup: https:\/\/t.me\/satoshi_club_spanish<\/a>\n<\/p>\n\n\n\n

Telegram Channel:\nhttps:\/\/t.me\/satoshi_club_channel<\/a>\n<\/p>\n\n\n\n

Website: https:\/\/esatoshi.club\/<\/a><\/p>\n\n\n\n

Twitter:\nhttps:\/\/twitter.com\/esatoshiclub<\/a>  <\/p>\n\n\n\n

Our Partners: <\/strong><\/p>\n\n\n\n