MetisDAO is a layer 2 solution that was originally a part of Optimism then developed its own mainnet in 2021 with Optimism Rollup. Since its launch in 2019, the network has supported 5 million transactions and enjoyed a whopping $142 million in total value locked.
The founder of MetisDAO is Elena Sinelnikova, an advocate who wants more women to know about blockchain technology.
The core of MetisDAO's operation is Optimism Rollup. This kind of layer 2 solution executes transactions on layer 2, then bundles transactions into a block and submits to layer 1 for verification. The layer 1 assumes that the transactions submitted by layer 2 are valid (thus the name Optimism). However, if layer 1 finds any possibility of fraud or invalidity, it can challenge layer 2. If fraud is proven, the layer-2 nodes who execute that transaction will lose access to their staked METIS, and the tokens will go to the layer-1 nodes who prove the fraud.
METIS is the native token of the MetisDAO network. Its total supply is 10,000,000 and its circulating supply is 4,429,703.
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