What is Metal DAO? All You Need to Know About MTL

Intermediate12/16/2024, 4:15:05 PM
Metal DAO (MTL) is a utility and governance token for the Metal ecosystem, powering Metal L2 scaling, reducing fees, and governing the XMD stablecoin.

The evolution of blockchain technology has brought scalability and usability challenges to the forefront, particularly on Ethereum, where high fees and network congestion remain significant hurdles. To address these, innovative Layer 2 solutions like Metal L2, built on the Optimism protocol, are transforming how transactions are scaled. The journey of crypto adoption has also highlighted the need for seamless fiat-to-crypto platforms, leading to the development of Metal Pay, which initially rewards users through Proof-of-Processed-Payment (PoPP). At the heart of these advancements lies Metal DAO (MTL), uniting governance, utility, and innovation within the Metal ecosystem.

What is Metal DAO (MTL)?

Metal DAO (MTL) has a rich history of innovation and strategic development, spearheaded by Marshall Hayner and Glenn Mariën. Founded in 2015 by Hayner, a blockchain contributor with experience in projects like Dogecoin and Stellar, Metal DAO began as an ambitious project to bridge traditional and decentralized finance. In 2016, the development of the Metal Pay app started in San Francisco under Hayner’s leadership, and it was joined by Sid Parihar from Apple. The app aimed to simplify crypto transactions with features like Proof-of-Processed-Payment (PoPP), which rewarded users with MTL for fiat transactions.

By 2018, Metal Pay rolled out features like FDIC-insured accounts, Shopify-style integrations, and plugins for online businesses, alongside NFC hardware for tap-to-pay terminals. This milestone solidified Metal DAO’s commitment to integrating blockchain with everyday financial activities. In the same year, Metal Pay announced plans for loans, escrow services, and split payments, further enhancing its functionality.

An important development was the launch of Metal L2 by Metallicus Inc., an Ethereum Layer 2 scaling solution leveraging the Optimism protocol. Metal L2 addressed Ethereum’s scalability and congestion challenges while fostering a robust ecosystem. The introduction of the Metal L2 Grant Fund further accelerated innovation by financially supporting aligned projects.

In 2023, the Metal L2 Airdrop strategically distributed MTL tokens to expand community engagement and democratize governance. The Metal DAO Migration Guide was released to ensure seamless adoption, aiding users and projects in transitioning to Metal L2.

How Does Metal DAO Work? L2 Architecture and Optimism Superchain Integration

Metal DAO (MTL) operates on a cutting-edge technological framework known as Metal L2, a Layer 2 Ethereum scaling solution designed to address scalability challenges and high transaction costs. By utilizing Optimistic Rollups, Metal L2 enhances Ethereum’s efficiency by offloading transaction computations to a secondary layer while maintaining the security of the main Ethereum blockchain. This architecture is crucial for enabling faster and cheaper transactions, reducing network congestion, and fostering the adoption of decentralized finance (DeFi).

At the heart of Metal L2’s functionality lies its rollup protocol. Optimistic Rollups enable Metal L2 to batch transactions and submit compressed data to the Ethereum mainnet, significantly lowering the costs associated with block storage. The sequencer, responsible for managing block production, ensures transaction confirmations and state updates with low latency. Unlike Ethereum’s public mempool, the sequencer maintains a private mempool to prevent miner extractable value (MEV) exploitation, ensuring fairness and efficiency. Transactions submitted via the sequencer benefit from reduced costs, while those sent through Ethereum’s mainnet are integrated seamlessly into Metal L2’s framework, providing robust censorship resistance.


Source: metall2.com

Metal L2’s Layer 0 integration ensures compliance with financial regulations like the Bank Secrecy Act (BSA), enhancing trust for institutional adoption. This foundational layer supports interoperability between various Metal ecosystem components, including Metal Pay, WebAuth Wallet, and Metal X. The system’s consensus mechanism involves multiple validators, mitigating risks from bad actors and ensuring the integrity of transactions. This secure and compliant infrastructure fosters confidence among financial institutions, streamlining data management and operational efficiency.

Incorporating features like cross-layer bridging for tokens and Ethereum assets, Metal L2 enhances its usability within the Metal ecosystem. It enables seamless transfers between Ethereum and Metal L2, providing users with flexibility while maintaining robust security. Withdrawal processes include multiple safeguards, such as challenge windows, to ensure accuracy and prevent fraudulent activity. These mechanisms bolster the reliability of Metal L2 as a scaling solution.

By leveraging the Optimism Superchain, Metal L2 aligns itself with a broader initiative to create a highly scalable, interoperable blockchain network. This synergy facilitates collaboration between decentralized applications, fostering innovation and network efficiency. Additionally, the integration of Layer 0 Metal Blockchain enhances Metal L2’s foundational security and compliance capabilities, positioning it as a transformative force in the evolving blockchain space.

Optimism Superchain Integration

Metal L2’s integration into the Optimism Superchain represents a transformative leap in blockchain scalability and interoperability. The Optimism Superchain is an ambitious network of interconnected chains that leverages Optimistic Rollup technology, creating a shared ecosystem for enhanced scalability, decentralized governance, and seamless upgrades. By being part of this ecosystem, Metal L2 benefits from a unified communication layer and shared security, allowing developers and users to interact across chains with efficiency and reliability. Officially launched on May 9, 2024, this integration underpins Metal L2’s commitment to advancing blockchain technology while addressing the industry’s most pressing challenges.

At the core of the Superchain is the OP Stack, a modular, open-source technology stack that standardizes blockchain operations across its interconnected chains. Metal L2, built on this stack, ensures horizontal scalability by offloading computational processes to secondary layers while retaining the Ethereum mainnet’s security guarantees. This design enables Metal L2 to scale without compromising decentralization or security, fostering an environment for high-performance decentralized applications (dApps). The rollup protocol further enhances scalability by compressing transaction data before submission to Ethereum, reducing costs while maintaining robust data availability.


Source: metall2.com

Metal L2 distinguishes itself within the Optimism Superchain by integrating financial-grade features like direct connectivity to banks, payment gateways, and on-chain identity verification solutions. These integrations enable seamless interaction between traditional and decentralized financial systems, creating a compliant and versatile platform for global users. For instance, Metal L2’s native Web Authentication aligns with the Superchain’s trustless signing protocols, allowing secure access across FIDO-compliant devices, including YubiKeys and biometric systems. These innovations make Metal L2 a compelling choice for businesses and individuals seeking scalable, secure, and compliant blockchain solutions.

One of the Superchain’s defining features is its vision for interconnected chains to function as a single, unified system. Unlike traditional multi-chain ecosystems, which introduce disparate security models and operational complexities, the Superchain operates as a cohesive unit. Shared governance ensures that each chain adheres to common standards, while interoperability allows dApps and tools to function seamlessly across the network. For Metal L2, this translates to greater efficiency in deploying updates, executing transactions, and maintaining a consistent user experience across various chains.

Metal L2’s roadmap within the Superchain includes further optimizations to reduce transaction fees, enhance scalability, and explore emerging technologies like decentralized storage and advanced cryptographic methods. The integration also opens doors for Metal L2 to participate in Superchain-wide initiatives, such as decentralized bridging, which simplifies asset transfers across chains.

Metal DAO Use Cases

Metal DAO (MTL) powers a dynamic ecosystem that bridges traditional finance with decentralized solutions, creating opportunities for users to engage in scalable, efficient, and secure financial activities. By leveraging MTL, users access a broad array of use cases designed to drive innovation and adoption in Web3.

  • Governance and Decentralization: Metal DAO enables token holders to participate in decentralized governance, allowing them to vote on critical protocol updates, ecosystem development, and the management of the Metal Dollar (XMD). This fosters transparency, inclusivity, and active community involvement in shaping the ecosystem’s future.
  • Metal Dollar (XMD): Governed by MTL, the Metal Dollar is a next-generation stablecoin backed by a basket of reserve-based, non-algorithmic stablecoins. XMD provides stability for payments, lending, and DeFi transactions, offering a trusted medium for users seeking resilient financial tools.
  • Access to Metal L2 Ecosystem: Through the Metal Pay app, users gain streamlined access to Metal L2, a Layer 2 Ethereum scaling solution. Metal L2 offers reduced transaction fees, faster processing, and compliance with financial regulations, ensuring a seamless transition into decentralized finance.
  • Decentralized Trading and Financial Services: Powered by the XPR Network, Metal X delivers a fully decentralized trading platform. Users can access DeFi functions like trading, borrowing, lending, and yield farming, all with on-chain transparency. Metal X integrates fiat on-ramps, creating a robust bridge between traditional finance and Web3 innovation.

Metal DAO Main Features

Fast and Low-Cost Transactions

Metal L2 significantly enhances transaction efficiency by batching multiple transactions and submitting them as a single transaction to the Ethereum mainnet. This approach drastically reduces gas fees and ensures faster transaction confirmations compared to traditional Layer 1 processes. By leveraging Optimistic Rollup technology, Metal L2 provides a scalable solution for Ethereum’s congestion issues, making decentralized finance accessible to more users without compromising security or performance.

Web Authentication

Metal L2 integrates native Web Authentication for the Optimism Superchain, revolutionizing transaction security. By enabling trustless signing directly in the browser and utilizing device-secure enclaves or FIDO-compliant tools like Yubi, Metal L2 eliminates the need for browser plugins or third-party software. This reduces vulnerability to phishing attacks, which target billions of users annually.

EVM Compatibility and Decentralization

Metal L2 is fully compatible with the Ethereum Virtual Machine (EVM), enabling seamless migration of existing smart contracts to its platform. This compatibility preserves the Ethereum ecosystem’s continuity while expanding its scalability. Additionally, Metal L2 inherits Ethereum’s robust security through Optimistic Rollups, ensuring decentralization and trustworthiness. The inclusion of Decentralized Identity (DID) further strengthens user autonomy, integrating top identity issuers for a secure and personalized blockchain experience.

Governance

Governance is a cornerstone of Metal DAO, empowering MTL holders to actively shape the ecosystem’s future through decentralized decision-making. The governance framework incentivizes user participation by integrating rewards mechanisms and overseeing the Metal Dollar (XMD), a stablecoin backed by reserve assets.

Metal L2 Products
Metal L2 offers an array of innovative products designed to streamline decentralized finance, enhance user experience, and ensure seamless integration with blockchain ecosystems. These products demonstrate the versatility and robustness of Metal DAO’s ecosystem.

Metal Dollar (XMD)

The Metal Dollar (XMD) is a stablecoin designed for resilience and adaptability. Backed by a diversified basket of non-algorithmic stablecoins, XMD offers users a robust and reliable medium for decentralized transactions. Minting XMD is simple and can be performed directly through the Metal X platform using stablecoin collateral like USDC or PAX. This stablecoin can be redeemed seamlessly, providing flexibility and accessibility for users.


Source: metaldollar.com

Metal Pay

Metal Pay provides a user-friendly gateway to decentralized finance, offering the lowest fees in the industry for buying cryptocurrencies with debit or credit cards. This platform simplifies crypto onboarding by serving as a fiat on-ramp connected to the Metal L2 ecosystem. With 24/7 human support, customizable onramp solutions, and transparent pricing, Metal Pay bridges traditional finance with Web3, ensuring accessibility and convenience for both individuals and businesses


Source: metalpay.com

WebAuth Wallet

The WebAuth Wallet sets a new standard for security and usability in digital asset management. Built on the XPR Network, it supports gas-free transactions and offers a human-readable wallet address (e.g., @satoshi). WebAuth leverages biometric authentication like Face ID or fingerprint recognition, eliminating the need for traditional passwords and ensuring maximum security for private keys. The wallet also enables NFT storage and will soon include cross-network NFT bridging without gas fees, enhancing its functionality. WebAuth is a non-custodial wallet tailored for the next generation of blockchain users.


Source: metall2.com

Bridge

The Superbridge is a streamlined interface designed for seamless bridging between Ethereum and Metal L2, supporting assets like MTL, USDC, and ETH. Powered by the Native Bridge contracts of official Superchain rollup blockchains, it ensures reliable and secure asset transfers. While Superbridge provides the user-friendly interface, the underlying smart contracts are maintained by individual rollup teams, ensuring decentralized governance. This bridging solution facilitates interoperability within the Superchain, enabling users to move assets efficiently across Ethereum and Metal L2.


Source: bridge.metall2.com

Metal X

Metal X is an advanced decentralized exchange running on the XPR Network, offering seamless trading, lending, and earning opportunities with zero gas fees. This platform features ten powerful tools, including instant asset swaps, collateralized borrowing, and liquidity farming, all designed to streamline decentralized finance. Users benefit from transparent, on-chain trading, compliant fiat on-ramps via Metal Pay, and no lock-up periods for earning rewards. With Metal X, you can trade a curated selection of assets securely and efficiently, leveraging a decentralized and scalable ecosystem that prioritizes compliance, speed, and user-friendly functionality.


Source: metalx.com

What is the MTL Coin?

MTL powers Metal DAO, enabling governance, transactions, and reduced fees within the ecosystem. Its total supply counts 78.59 million units, all already in circulation (December 2024).

Introduced with a genesis supply of 66,588,888 tokens, MTL has undergone proposed tokenomic adjustments to incentivize growth within the Metal L2 network. It is critical for paying gas fees on Metal L2, an Ethereum Layer 2 scaling solution integrated into the Optimism Superchain. This ecosystem enables faster, cheaper transactions while maintaining compliance and interoperability with traditional financial systems.

MTL was launched through an initial coin offering (ICO) on June 9, 2017. During this event, 55 million tokens were sold at $0.18 per token, raising over $10 million. The ICO began and concluded on the same day, June 9, 2017. Key team members involved in the ICO included Andy Goldstein, Oscar Munoz, and Madisyn Li.

A key feature of MTL is its role in decentralized governance. Token holders can propose and vote on strategic decisions, such as introducing new stablecoins to the Metal Dollar (XMD) basket or determining resource allocation. This empowers users to directly shape the Metal ecosystem, fostering a community-driven financial model. Additionally, MTL incentivizes network activity through developer bounties, onboarding rewards, and grants for core development and sequencer maintenance, ensuring sustainable ecosystem growth.

MTL enhances user experience by integrating with the Metal Pay app, a seamless gateway to the Metal L2 network. The app rewards MTL holders with tiered trading discounts, encouraging adoption. For instance, users holding over 10,000 MTL enjoy 0% fees on cryptocurrency purchases, making the app attractive for frequent traders. This blend of blockchain technology and traditional finance creates a robust digital banking solution.

\
Metal DAO introduces strategic grants to accelerate growth and development within its ecosystem. A one-time 6,000,000 MTL L2 Incentive Grant supports Metal L2 onboarding, trading volume, and TVL growth, with allocations decided via DAO governance. Additionally, a 6,000,000 MTL Sequencer Grant funds protocol maintenance, development, and open-source tools like Metal Pay and WebAuth Wallet. For ongoing innovation, the Core Development Grant provides 6,000,000 MTL annually to the elected Core Developer, ensuring continuous enhancement of the Metal DAO ecosystem.

Is MTL a Good Investment?

MTL offers a strong utility within the Metal ecosystem, powering governance, reducing transaction fees, and incentivizing adoption of the Metal L2 network. Its integration with the Optimism Superchain and innovative features like Metal Pay provide users with tangible benefits and position the project as a leader in blockchain-based financial solutions. However, the project faces challenges, such as relying on continued community engagement and adoption to sustain its governance model and ecosystem growth. These factors make long-term success dependent on consistent participation and development.

How to Own MTL?

To own MTL, you can use the services of a centralized crypto exchange. Start by creating a Gate.io account, and get it verified and funded. Then you are ready to go through the steps to buy MTL.

News on Metal DAO

On September 6, 2024, the official blog announced that dRPC has become an official RPC endpoint provider for Metal L2, enhancing the scalability, reliability, and accessibility of the network. Known as The Banking Layer on the Optimism Superchain, Metal L2 bridges DeFi and TradFi through seamless fiat onramps. dRPC provides fast, secure, and decentralized RPC endpoints, ensuring improved performance, reliability, and security for Metal L2 users and developers. This partnership supports dApps like Velodrome, enabling faster transactions and efficient liquidity provisioning, further strengthening Metal L2’s position as a robust link between traditional and decentralized finance ecosystems.

Take Action on MTL

Check out MTL price today, and start trading your favorite currency pairs.

作者: Mauo
譯者: Sonia
審校: Matheus、KOWEI
譯文審校: Ashely
* 投資有風險,入市須謹慎。本文不作為Gate.io提供的投資理財建議或其他任何類型的建議。
* 在未提及Gate.io的情況下,複製、傳播或抄襲本文將違反《版權法》,Gate.io有權追究其法律責任。

What is Metal DAO? All You Need to Know About MTL

Intermediate12/16/2024, 4:15:05 PM
Metal DAO (MTL) is a utility and governance token for the Metal ecosystem, powering Metal L2 scaling, reducing fees, and governing the XMD stablecoin.

The evolution of blockchain technology has brought scalability and usability challenges to the forefront, particularly on Ethereum, where high fees and network congestion remain significant hurdles. To address these, innovative Layer 2 solutions like Metal L2, built on the Optimism protocol, are transforming how transactions are scaled. The journey of crypto adoption has also highlighted the need for seamless fiat-to-crypto platforms, leading to the development of Metal Pay, which initially rewards users through Proof-of-Processed-Payment (PoPP). At the heart of these advancements lies Metal DAO (MTL), uniting governance, utility, and innovation within the Metal ecosystem.

What is Metal DAO (MTL)?

Metal DAO (MTL) has a rich history of innovation and strategic development, spearheaded by Marshall Hayner and Glenn Mariën. Founded in 2015 by Hayner, a blockchain contributor with experience in projects like Dogecoin and Stellar, Metal DAO began as an ambitious project to bridge traditional and decentralized finance. In 2016, the development of the Metal Pay app started in San Francisco under Hayner’s leadership, and it was joined by Sid Parihar from Apple. The app aimed to simplify crypto transactions with features like Proof-of-Processed-Payment (PoPP), which rewarded users with MTL for fiat transactions.

By 2018, Metal Pay rolled out features like FDIC-insured accounts, Shopify-style integrations, and plugins for online businesses, alongside NFC hardware for tap-to-pay terminals. This milestone solidified Metal DAO’s commitment to integrating blockchain with everyday financial activities. In the same year, Metal Pay announced plans for loans, escrow services, and split payments, further enhancing its functionality.

An important development was the launch of Metal L2 by Metallicus Inc., an Ethereum Layer 2 scaling solution leveraging the Optimism protocol. Metal L2 addressed Ethereum’s scalability and congestion challenges while fostering a robust ecosystem. The introduction of the Metal L2 Grant Fund further accelerated innovation by financially supporting aligned projects.

In 2023, the Metal L2 Airdrop strategically distributed MTL tokens to expand community engagement and democratize governance. The Metal DAO Migration Guide was released to ensure seamless adoption, aiding users and projects in transitioning to Metal L2.

How Does Metal DAO Work? L2 Architecture and Optimism Superchain Integration

Metal DAO (MTL) operates on a cutting-edge technological framework known as Metal L2, a Layer 2 Ethereum scaling solution designed to address scalability challenges and high transaction costs. By utilizing Optimistic Rollups, Metal L2 enhances Ethereum’s efficiency by offloading transaction computations to a secondary layer while maintaining the security of the main Ethereum blockchain. This architecture is crucial for enabling faster and cheaper transactions, reducing network congestion, and fostering the adoption of decentralized finance (DeFi).

At the heart of Metal L2’s functionality lies its rollup protocol. Optimistic Rollups enable Metal L2 to batch transactions and submit compressed data to the Ethereum mainnet, significantly lowering the costs associated with block storage. The sequencer, responsible for managing block production, ensures transaction confirmations and state updates with low latency. Unlike Ethereum’s public mempool, the sequencer maintains a private mempool to prevent miner extractable value (MEV) exploitation, ensuring fairness and efficiency. Transactions submitted via the sequencer benefit from reduced costs, while those sent through Ethereum’s mainnet are integrated seamlessly into Metal L2’s framework, providing robust censorship resistance.


Source: metall2.com

Metal L2’s Layer 0 integration ensures compliance with financial regulations like the Bank Secrecy Act (BSA), enhancing trust for institutional adoption. This foundational layer supports interoperability between various Metal ecosystem components, including Metal Pay, WebAuth Wallet, and Metal X. The system’s consensus mechanism involves multiple validators, mitigating risks from bad actors and ensuring the integrity of transactions. This secure and compliant infrastructure fosters confidence among financial institutions, streamlining data management and operational efficiency.

Incorporating features like cross-layer bridging for tokens and Ethereum assets, Metal L2 enhances its usability within the Metal ecosystem. It enables seamless transfers between Ethereum and Metal L2, providing users with flexibility while maintaining robust security. Withdrawal processes include multiple safeguards, such as challenge windows, to ensure accuracy and prevent fraudulent activity. These mechanisms bolster the reliability of Metal L2 as a scaling solution.

By leveraging the Optimism Superchain, Metal L2 aligns itself with a broader initiative to create a highly scalable, interoperable blockchain network. This synergy facilitates collaboration between decentralized applications, fostering innovation and network efficiency. Additionally, the integration of Layer 0 Metal Blockchain enhances Metal L2’s foundational security and compliance capabilities, positioning it as a transformative force in the evolving blockchain space.

Optimism Superchain Integration

Metal L2’s integration into the Optimism Superchain represents a transformative leap in blockchain scalability and interoperability. The Optimism Superchain is an ambitious network of interconnected chains that leverages Optimistic Rollup technology, creating a shared ecosystem for enhanced scalability, decentralized governance, and seamless upgrades. By being part of this ecosystem, Metal L2 benefits from a unified communication layer and shared security, allowing developers and users to interact across chains with efficiency and reliability. Officially launched on May 9, 2024, this integration underpins Metal L2’s commitment to advancing blockchain technology while addressing the industry’s most pressing challenges.

At the core of the Superchain is the OP Stack, a modular, open-source technology stack that standardizes blockchain operations across its interconnected chains. Metal L2, built on this stack, ensures horizontal scalability by offloading computational processes to secondary layers while retaining the Ethereum mainnet’s security guarantees. This design enables Metal L2 to scale without compromising decentralization or security, fostering an environment for high-performance decentralized applications (dApps). The rollup protocol further enhances scalability by compressing transaction data before submission to Ethereum, reducing costs while maintaining robust data availability.


Source: metall2.com

Metal L2 distinguishes itself within the Optimism Superchain by integrating financial-grade features like direct connectivity to banks, payment gateways, and on-chain identity verification solutions. These integrations enable seamless interaction between traditional and decentralized financial systems, creating a compliant and versatile platform for global users. For instance, Metal L2’s native Web Authentication aligns with the Superchain’s trustless signing protocols, allowing secure access across FIDO-compliant devices, including YubiKeys and biometric systems. These innovations make Metal L2 a compelling choice for businesses and individuals seeking scalable, secure, and compliant blockchain solutions.

One of the Superchain’s defining features is its vision for interconnected chains to function as a single, unified system. Unlike traditional multi-chain ecosystems, which introduce disparate security models and operational complexities, the Superchain operates as a cohesive unit. Shared governance ensures that each chain adheres to common standards, while interoperability allows dApps and tools to function seamlessly across the network. For Metal L2, this translates to greater efficiency in deploying updates, executing transactions, and maintaining a consistent user experience across various chains.

Metal L2’s roadmap within the Superchain includes further optimizations to reduce transaction fees, enhance scalability, and explore emerging technologies like decentralized storage and advanced cryptographic methods. The integration also opens doors for Metal L2 to participate in Superchain-wide initiatives, such as decentralized bridging, which simplifies asset transfers across chains.

Metal DAO Use Cases

Metal DAO (MTL) powers a dynamic ecosystem that bridges traditional finance with decentralized solutions, creating opportunities for users to engage in scalable, efficient, and secure financial activities. By leveraging MTL, users access a broad array of use cases designed to drive innovation and adoption in Web3.

  • Governance and Decentralization: Metal DAO enables token holders to participate in decentralized governance, allowing them to vote on critical protocol updates, ecosystem development, and the management of the Metal Dollar (XMD). This fosters transparency, inclusivity, and active community involvement in shaping the ecosystem’s future.
  • Metal Dollar (XMD): Governed by MTL, the Metal Dollar is a next-generation stablecoin backed by a basket of reserve-based, non-algorithmic stablecoins. XMD provides stability for payments, lending, and DeFi transactions, offering a trusted medium for users seeking resilient financial tools.
  • Access to Metal L2 Ecosystem: Through the Metal Pay app, users gain streamlined access to Metal L2, a Layer 2 Ethereum scaling solution. Metal L2 offers reduced transaction fees, faster processing, and compliance with financial regulations, ensuring a seamless transition into decentralized finance.
  • Decentralized Trading and Financial Services: Powered by the XPR Network, Metal X delivers a fully decentralized trading platform. Users can access DeFi functions like trading, borrowing, lending, and yield farming, all with on-chain transparency. Metal X integrates fiat on-ramps, creating a robust bridge between traditional finance and Web3 innovation.

Metal DAO Main Features

Fast and Low-Cost Transactions

Metal L2 significantly enhances transaction efficiency by batching multiple transactions and submitting them as a single transaction to the Ethereum mainnet. This approach drastically reduces gas fees and ensures faster transaction confirmations compared to traditional Layer 1 processes. By leveraging Optimistic Rollup technology, Metal L2 provides a scalable solution for Ethereum’s congestion issues, making decentralized finance accessible to more users without compromising security or performance.

Web Authentication

Metal L2 integrates native Web Authentication for the Optimism Superchain, revolutionizing transaction security. By enabling trustless signing directly in the browser and utilizing device-secure enclaves or FIDO-compliant tools like Yubi, Metal L2 eliminates the need for browser plugins or third-party software. This reduces vulnerability to phishing attacks, which target billions of users annually.

EVM Compatibility and Decentralization

Metal L2 is fully compatible with the Ethereum Virtual Machine (EVM), enabling seamless migration of existing smart contracts to its platform. This compatibility preserves the Ethereum ecosystem’s continuity while expanding its scalability. Additionally, Metal L2 inherits Ethereum’s robust security through Optimistic Rollups, ensuring decentralization and trustworthiness. The inclusion of Decentralized Identity (DID) further strengthens user autonomy, integrating top identity issuers for a secure and personalized blockchain experience.

Governance

Governance is a cornerstone of Metal DAO, empowering MTL holders to actively shape the ecosystem’s future through decentralized decision-making. The governance framework incentivizes user participation by integrating rewards mechanisms and overseeing the Metal Dollar (XMD), a stablecoin backed by reserve assets.

Metal L2 Products
Metal L2 offers an array of innovative products designed to streamline decentralized finance, enhance user experience, and ensure seamless integration with blockchain ecosystems. These products demonstrate the versatility and robustness of Metal DAO’s ecosystem.

Metal Dollar (XMD)

The Metal Dollar (XMD) is a stablecoin designed for resilience and adaptability. Backed by a diversified basket of non-algorithmic stablecoins, XMD offers users a robust and reliable medium for decentralized transactions. Minting XMD is simple and can be performed directly through the Metal X platform using stablecoin collateral like USDC or PAX. This stablecoin can be redeemed seamlessly, providing flexibility and accessibility for users.


Source: metaldollar.com

Metal Pay

Metal Pay provides a user-friendly gateway to decentralized finance, offering the lowest fees in the industry for buying cryptocurrencies with debit or credit cards. This platform simplifies crypto onboarding by serving as a fiat on-ramp connected to the Metal L2 ecosystem. With 24/7 human support, customizable onramp solutions, and transparent pricing, Metal Pay bridges traditional finance with Web3, ensuring accessibility and convenience for both individuals and businesses


Source: metalpay.com

WebAuth Wallet

The WebAuth Wallet sets a new standard for security and usability in digital asset management. Built on the XPR Network, it supports gas-free transactions and offers a human-readable wallet address (e.g., @satoshi). WebAuth leverages biometric authentication like Face ID or fingerprint recognition, eliminating the need for traditional passwords and ensuring maximum security for private keys. The wallet also enables NFT storage and will soon include cross-network NFT bridging without gas fees, enhancing its functionality. WebAuth is a non-custodial wallet tailored for the next generation of blockchain users.


Source: metall2.com

Bridge

The Superbridge is a streamlined interface designed for seamless bridging between Ethereum and Metal L2, supporting assets like MTL, USDC, and ETH. Powered by the Native Bridge contracts of official Superchain rollup blockchains, it ensures reliable and secure asset transfers. While Superbridge provides the user-friendly interface, the underlying smart contracts are maintained by individual rollup teams, ensuring decentralized governance. This bridging solution facilitates interoperability within the Superchain, enabling users to move assets efficiently across Ethereum and Metal L2.


Source: bridge.metall2.com

Metal X

Metal X is an advanced decentralized exchange running on the XPR Network, offering seamless trading, lending, and earning opportunities with zero gas fees. This platform features ten powerful tools, including instant asset swaps, collateralized borrowing, and liquidity farming, all designed to streamline decentralized finance. Users benefit from transparent, on-chain trading, compliant fiat on-ramps via Metal Pay, and no lock-up periods for earning rewards. With Metal X, you can trade a curated selection of assets securely and efficiently, leveraging a decentralized and scalable ecosystem that prioritizes compliance, speed, and user-friendly functionality.


Source: metalx.com

What is the MTL Coin?

MTL powers Metal DAO, enabling governance, transactions, and reduced fees within the ecosystem. Its total supply counts 78.59 million units, all already in circulation (December 2024).

Introduced with a genesis supply of 66,588,888 tokens, MTL has undergone proposed tokenomic adjustments to incentivize growth within the Metal L2 network. It is critical for paying gas fees on Metal L2, an Ethereum Layer 2 scaling solution integrated into the Optimism Superchain. This ecosystem enables faster, cheaper transactions while maintaining compliance and interoperability with traditional financial systems.

MTL was launched through an initial coin offering (ICO) on June 9, 2017. During this event, 55 million tokens were sold at $0.18 per token, raising over $10 million. The ICO began and concluded on the same day, June 9, 2017. Key team members involved in the ICO included Andy Goldstein, Oscar Munoz, and Madisyn Li.

A key feature of MTL is its role in decentralized governance. Token holders can propose and vote on strategic decisions, such as introducing new stablecoins to the Metal Dollar (XMD) basket or determining resource allocation. This empowers users to directly shape the Metal ecosystem, fostering a community-driven financial model. Additionally, MTL incentivizes network activity through developer bounties, onboarding rewards, and grants for core development and sequencer maintenance, ensuring sustainable ecosystem growth.

MTL enhances user experience by integrating with the Metal Pay app, a seamless gateway to the Metal L2 network. The app rewards MTL holders with tiered trading discounts, encouraging adoption. For instance, users holding over 10,000 MTL enjoy 0% fees on cryptocurrency purchases, making the app attractive for frequent traders. This blend of blockchain technology and traditional finance creates a robust digital banking solution.

\
Metal DAO introduces strategic grants to accelerate growth and development within its ecosystem. A one-time 6,000,000 MTL L2 Incentive Grant supports Metal L2 onboarding, trading volume, and TVL growth, with allocations decided via DAO governance. Additionally, a 6,000,000 MTL Sequencer Grant funds protocol maintenance, development, and open-source tools like Metal Pay and WebAuth Wallet. For ongoing innovation, the Core Development Grant provides 6,000,000 MTL annually to the elected Core Developer, ensuring continuous enhancement of the Metal DAO ecosystem.

Is MTL a Good Investment?

MTL offers a strong utility within the Metal ecosystem, powering governance, reducing transaction fees, and incentivizing adoption of the Metal L2 network. Its integration with the Optimism Superchain and innovative features like Metal Pay provide users with tangible benefits and position the project as a leader in blockchain-based financial solutions. However, the project faces challenges, such as relying on continued community engagement and adoption to sustain its governance model and ecosystem growth. These factors make long-term success dependent on consistent participation and development.

How to Own MTL?

To own MTL, you can use the services of a centralized crypto exchange. Start by creating a Gate.io account, and get it verified and funded. Then you are ready to go through the steps to buy MTL.

News on Metal DAO

On September 6, 2024, the official blog announced that dRPC has become an official RPC endpoint provider for Metal L2, enhancing the scalability, reliability, and accessibility of the network. Known as The Banking Layer on the Optimism Superchain, Metal L2 bridges DeFi and TradFi through seamless fiat onramps. dRPC provides fast, secure, and decentralized RPC endpoints, ensuring improved performance, reliability, and security for Metal L2 users and developers. This partnership supports dApps like Velodrome, enabling faster transactions and efficient liquidity provisioning, further strengthening Metal L2’s position as a robust link between traditional and decentralized finance ecosystems.

Take Action on MTL

Check out MTL price today, and start trading your favorite currency pairs.

作者: Mauo
譯者: Sonia
審校: Matheus、KOWEI
譯文審校: Ashely
* 投資有風險,入市須謹慎。本文不作為Gate.io提供的投資理財建議或其他任何類型的建議。
* 在未提及Gate.io的情況下,複製、傳播或抄襲本文將違反《版權法》,Gate.io有權追究其法律責任。
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