Categories: Press Release

Metis Launches Beta Testnet, Ecosystem Development Program

TORONTO, June 16, 2021 – Ethereum Layer 2 protocol Metis launched its second network testnet, setting the stage for community members to preview the platform and assist with the current beta testing phase. At the same time, Metis unveiled its new Ecosystem Development Program, designed to help companies of all sizes make leaps forward thanks to robust and accessible blockchain technology.

After releasing its Alpha Testnet earlier this year, Metis added numerous vital features with its Beta launch, including multi-MVM and multi-sequencer support and deployment. It’s the latest milestone for the Layer 2 optimistic rollup provider, with more features to be unveiled in the next month and mainnet release slated for September.

The Beta Testnet now makes it possible for developers to start deploying and testing smart contracts on Metis (compatible with EVM). Smart contracts and other functions can now be deployed with gas fees of one or two cents (or less), transaction speeds of one second or less, and a more decentralized and secure infrastructure, tapping into the strengths of the Ethereum blockchain. 

In a demo during its Beta Testnet launch June 15, Metis executed a blockchain transaction in real time, at a cost of less than 1 cent and a speed of less than one second.

“We are excited to move to the next stage of our progress as a leading provider of Layer 2 scalability,” said Metis Co-Founder and CEO Elena Sinelnikova. “From the beginning, we’ve remained focused on working closely with our community, using their input to build the best platform possible. We look forward to getting a fresh round of essential feedback in this Beta Testnet phase, so we can make all the improvements and refinements necessary to deliver a Layer 2 solution that will be second to none.” 

People interested in testing their smart contracts and dApps on Metis Layer 2 are invited to apply. Early adopters will be rewarded with $METIS tokens.

Metis’ continued development efforts, combined with community testing support, will set the stage for the June 30 release of Metis middleware, part of a broader Gamma Testnet launch. Metis middleware will serve as a front end to the company’s Layer 2 platform, enabling even users with no blockchain development experience the use the APIs and templates to develop their own dApps on Metis Layer 2, with low gas fees and fast transactions, at the click of a button. 

The advances in Metis technology have already led to the formation of numerous partnerships. Decentralized finance partners already onboarded include Oropocket OpenDeFi, Bagels Finance, Asteria, and Findora. Open source blockchain developer CasperLabs and blockchain infrastructure company PARSIQ highlight the list of other partners already signed on to deploy on Metis Layer 2.

Introducing the Metis Ecosystem Development Program

Along with the Beta Testnet launch, Metis also introduced its new Ecosystem Development Program.

The program helps projects launched on Metis Layer 2 enjoy the low cost, high efficiency, high scalability, high functionality, and ease of use of blockchain, while making their business sustainable for the future. Metis aims to provide end-to-end support for all DeFi protocols and disrupting dApps: the full value chain from technology to infrastructure, helping them to scale and grow with Metis. With the help of the program, companies will be able to build their business, create dApps, and more, simply, quickly, and inexpensively.

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Working with partners Autonomy Capital, 7 O’Clock Foundation, Master Ventures, InnMind, Ignition Launchpad, Apollo-X Launchpad, and Ignition China, the Metis Ecosystem Development Program will provide a slew of benefits for companies looking to level up their business through blockchain adoption. Those benefits will include:

Companies ranging from established blockchain players to blockchain startups to non-blockchain organizations looking to make their businesses more efficient, more secure, and more scalable are invited to apply to the Metis Ecosystem Development Program.

About Metis

Based on the spirit of Optimistic Rollup, Metis is building an easy-to-use, highly scalable, low-cost, and fully functional Layer 2 framework (Metis Rollup) to fully support the application and business migration from Web 2.0 to Web 3.0. Its scalable protocol supports a wide range of use cases including yield farming, DEX trading, and powering the gig economy via DApps that offer cheap and fast micropayments.

Metis integrates the Decentralized Autonomous Company (DAC) framework within its Layer 2 infrastructure, a differentiating factor that makes it easy for any developers, builders, or community leaders to build their applications and communities. It also makes it easy to use pre-set tools to facilitate their development, manage collaboration, and enjoy the network effects of the world’s largest decentralized finance ecosystem, without the costs and bottlenecks normally associated with Ethereum.

Learn more: https://metis.io/

Contact:

Kevin Liu
MetisDAO
(Co-Founder and Product Lead)
kevin.l@metis.io

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Stan Peterson

Being an active participant in the Blockchain world, I always look forward to engage with opportunities where I could share my love towards digital transformation.

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