Metis Token Opens the First Phase of the HyperHack Programme

Metis Token has opened the first phase of the HyperHack programme, titled “Applications & Ideathon”, which will run from May 15th to June 2nd.

Metis Token has announced the first phase of the HyperHack programme, titled “Applications & Ideathon”, which will run from May 15th to June 2nd. The second phase will be from June 2nd to August 7th. The third and the last part will be from August 7th to 16th.

Named after the Greek goddess of wisdom, Metis is a Layer 2 Rollup platform built on the Ethereum network that aims to tackle some of the key challenges faced by the main net Ethereum — namely transaction speed, cost, and scalability. It achieves this by offering a framework for simple, rapid deployment of smart contracts within the network, thereby facilitating seamless and efficient operations on the Ethereum blockchain.

At the core of Metis’s offerings are several essential components: Metis Oracles, Metis Nodes, and Metis SubGraph. Metis Oracles provide real-time data from external sources, connecting blockchains to external systems and supplying smart contracts with crucial outside information. Metis Nodes, which store a complete copy of the distributed network, enhance security and reliability. Lastly, the Metis SubGraph serves as an indexing protocol for gathering, processing, and storing data for use in the blockchain network, aiming to ease information retrieval through a service known as GraphQL. These combined features position Metis as a significant player in improving the functionality and performance of the Ethereum network.

METIS is an ERC-20 governance token compatible with the Ethereum blockchain network. The main use cases for the METIS token are paying transaction fees on the Metis network and staking.