Metis builds a Layer 2 Ethereum rollup (Metis Rollup) aimed at improving scalability, decentralization, and user experience for DeFi and NFT applications. The protocol has launched an alpha testnet, registering 12,632 wallets, 6,856 DACs and 166,859 on-chain transactions in three weeks. Capital from the recent growth round will fund the release and promotion of Metis Rollup and further roadmap execution. The team emphasizes bringing L2 scalability specifically to NFT marketplaces and broader Web 3.0 decentralized economy use cases. Metis is preparing a METIS token initial decentralized exchange offering on PAID Network’s IGNITION launchpad and Gate.io on May 13, 2021. Financially, the project has raised $4 million in a growth round from blockchain-focused VCs and $1 million in prior angel investments (totaling $5 million before the IDO). Metis is building a governance- and management-mechanism-embedded Layer2 protocol to support application migration from Web2 to Web3. The protocol is tailored for collaboration and enables Web2 communities to create decentralized companies, launch DApps and manage business activities with an Optimistic Governance mechanism. Metis built its tech stack by hard-forking the Optimistic Rollup (OR), tailoring OR for managing collaborations and providing tools to build trust among collaborators. Founded in 2018 by Elena Sinelnikova, Kevin Liu and Yuan Su, the company raised $1M in seed and angel funding. The funds will be used to release a new Layer2 DAO framework at the end of March. CEO Elena Sinelnikova's role at CryptoChicks is cited as bringing blockchain education and community expertise to Metis's mission.

Total raised

$5M

Funding rounds

2

Latest round

Equity

Latest activity

May 2021