Metis is a layer 2 solution of Ethereum, it is a hard-fork (copy paste) of Optimism. It allowed Metis to take advantage of the rollup technology offered which allowed for numerous transactions to be put together in order to reduce costs and transaction speeds. Using the Metis network, called Andromeda, feels like no other, it is instantaneous but of course, the cost comes in the form of its gas, which is not necessarily cheap but far from the max pain that Ethereum transactions are.
In order to take advantage of this new super fast blockchain, we need to get our funds over to the Metis ecosystem. In order to do this, we will go to this site. Currently, using this bridge we can only bridge to and from Ethereum.
The bridging experience was quick and fairly priced, not as cheap as the bridge I spoke about in my Near (Aurora) blog. Another issue I have is that they currently charge 2 Metis for withdrawing from Andromeda to Ethereum, that is roughly $300 to get your money out. For now, if you decide to bridge over, you should expect a long stay!
You are currently able to bridge over:
- METIS
- ETH (Ethereum)
- LINK
- USDC
- USDT
- WOW
There are some amazing opportunities in the Metis ecosystem, notably Nettswap, their tokenomics are amazing and you can expect their farming to last at least a year. Of course, we also have some reputable projects such as Beefy.Finance or Agora, Metis’ own Money Market with some decent yields on some popular assets.
Metis had piqued my interest a couple weeks ago, there are some wonderful opportunities here and it is interesting to note that Ethereum’s own Vitalik’s Mother is one of the big advisors to the Metis project. Let’s see how the next year plays out for this chain.