The Metis crypto, the layer 2 that has been making more and more noise since the end of the year. Even with a bearish start to the year, the Metis crypto is holding up. Moreover, it is since the month of August and especially the month of December that Metis has been gaining popularity. Remember that the Andromeda Mainnet was precisely launched on November 19, 2021. Today, 8 weeks after the launch of layer 2, the Andromeda network (on which the Metis crypto operates) records + 30,000 addresses created.
It's a rapid progression, indeed, we can say that. We will therefore see in this article how to use the network and how to make Metis crypto grow.
Clearly, MetisDao was inspired by the structure of Optimistic Rollup and aims to be a very easy-to-use and functional layer 2 on Ethereum (meaning fast and cheaper).
MetisDao's use cases are numerous and affect the most popular sectors of DeFi such as NFT platforms, decentralized social networks, games, DEXs, etc. Basically, the idea is to facilitate the entire web3 economy.
How to buy MetisDao and use it on DeFi?
For those who are interested (consider this neutral article, it's up to you to research further, again), here are the steps to follow:
1/ The first thing to do to add a new network is to add it to your MetaMask and here is the information to enter:
- NetworkName: Metis Network
- New RPC URLs: https://andromeda.metis.io/?owner=1088
- Chain ID: 1088
- Symbol: Metis
- BlockExplorer URL: https://andromeda-explorer.metis.io/
2/ To buy MetisDAO, you need to go to exchanges such as Gate.io and decentralized platforms like PancakeSwap (on Binance Smart Chain) and Uniswap. The choice is yours, depending on your network and available resources. If you want to use Binance Smart Chain, you will need to own BNB , which you can buy on the Binance website, of course.
3/ If you purchased Metis on PancakeSwap, you can use the Poly Bridge, for example, to transfer your Metis to the Andromeda network. It's very simple and a fast, low-cost bridge. You select the "METIS" token as shown in the following screenshot and accept the transfer on the BSC.
4/ It’s good! Your METIS tokens are on your Andromeda wallet.
And now what do we do?
Well, as with other networks, you can look into the Metis ecosystem to see the applications available to you.
So, very clearly, as I write this article, the ecosystem is in its early stages (just a month after the testnet) so there are not many applications. We will see if the network develops but at the moment there is an app which offers interesting returns. For example, we have the Nett/Metis pair, an APR rate of +1000%.
Likewise, you can also simply stack NETT (the Netswap token) with an APY of 300% for example.
Obviously, this is a simple tutorial, there are other networks just as interesting as you know.
Disclaimer: This content is for informational purposes and does not constitute financial advice. We strongly advise our readers to conduct their own independent research before committing to any investment.
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