What currency is METIS? What does METIS coin mean?

METIS, the native currency of MetisDAO, powers dApp development on Ethereum and enables governance, staking, transaction fees, and incentives.

Nov 07, 2024 at 07:46 pm

What Currency is METIS?

METIS is the native currency of the MetisDAO ecosystem, a decentralized autonomous organization (DAO) that focuses on supporting the development of decentralized applications (dApps) on the Ethereum blockchain. METIS is an ERC-20 token, which means it runs on the Ethereum network and is compatible with other ERC-20 tokens. METIS is used for various purposes within the MetisDAO ecosystem, including:

Governance: METIS holders have the right to vote on proposals that affect the governance of the MetisDAO ecosystem, such as changes to the network's parameters or the distribution of funding.
Staking: METIS holders can stake their tokens to earn rewards and support the security of the MetisDAO network. Staking involves locking up METIS tokens for a specific period of time in exchange for rewards.
Transaction fees: METIS is used to pay for transaction fees on the MetisDAO blockchain. These fees are charged to cover the cost of processing transactions and maintaining the network's infrastructure.
Incentivizing participation: METIS is distributed to users who participate in various activities within the MetisDAO ecosystem, such as contributing to development projects or providing liquidity to decentralized exchanges.

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