Chill Guy is a viral meme illustration that took social media by storm before a crypto project used the meme to launch a Solana-based token. Learn more here.

What started as a simple illustration of a laid-back dog has become a global meme sensation, with the cartoon character known as Chill Guy dominating both social media trends and cryptocurrency markets. Created by artist Phillip Banks in October 2023, the easygoing canine character sparked a viral movement that has attracted major brands worldwide.

This article follows Chill Guy’s transformation from a social media sensation to a cryptocurrency asset. We'll examine its viral beginnings, community growth, market impact and what potential investors can expect from CHILLGUY in the future.

 is a viral meme illustration by artist Phillip Banks, depicting a laid-back dog in casual clothes whose easygoing attitude took social media by storm before a crypto project used the meme to launch Just a Chill Guy as a Solana-based token.

What Does Just a Chill Guy Aim to Achieve?

The CHILLGUY meme coin aims to spread a "Why worry?" philosophy into cryptocurrency markets by embracing the laid-back, stress-free attitude that made the original meme go viral. The project transforms this easygoing vibe into a community-driven token, where being low-key isn't just a catchphrase — it's a shared mindset among holders.

The CHILLGUY community brings this philosophy to life by sharing endless variations of the CHILLGUY meme across social platforms. Through market swings and viral trends, CHILLGUY keeps his iconic pose: hands in pockets, subtle smirk, perpetually relaxed.

Just a Chill Guy (CHILLGUY) operates as a Solana Program Library (SPL) token on the 

 blockchain, leveraging the network's ultrafast speeds and low costs to ensure smooth trading. The token was created using Pump.fun, a specialized platform that lets users launch Solana-based tokens without any fees, removing traditional barriers to token creation.

CHILLGUY is a community takeover (CTO), meaning it's completely owned and directed by its token holders with no central team in control. This decentralized structure ensures the project stays true to its community-driven nature, its holders collectively guiding its future while embodying the laid-back spirit of the original meme.

The CHILLGUY token launched with a maximum supply of 1 billion tokens, of which 999,965,435 are currently in circulation. This near-complete distribution of tokens to the market supports active trading and community participation.

What makes CHILLGUY's tokenomics particularly notable is its widespread distribution across more than 142,000 unique holders (as of Nov 27, 2024), achieved in just 12 days. This rapid expansion of its holder base demonstrates strong community adoption and aligns with the project's decentralized, community-driven principles.

CHILLGUY has exploded across social media, especially on TikTok, where the meme has amassed hundreds of millions of views. Its laid-back character resonates with users worldwide, inspiring countless creative adaptations.

Major brands worldwide have embraced CHILLGUY in their marketing campaigns. From Sprite Europe to NFL on CBS, the character has resonated across mainstream media, even catching the attention of global figures like El Salvador's president Nayib Bukele.

The “Chill Guy” meme’s influence spans multiple social media platforms, with a growing community of followers: 96.6K on X (

). On the other hand, the meme token itself also has a vast community, with 39.9K on X (

) and an active Telegram channel of over 15,000 members. These numbers reflect the meme's ability to engage audiences across different platforms.

The token's popularity in cryptocurrency markets matches its social media success, with CHILLGUY maintaining a substantial 24-hour trading volume of over $330.03M as of Nov 27, 2024. This high trading activity demonstrates the strong market interest in CHILLGUY beyond its meme status.

Looking to trade Just a Chill Guy tokens? Bybit now offers the CHILLGUY/USDT Spot trading pair and CHILLGUYUSDT Perpetual contract. To get started, you’ll first need to create a Bybit account, then fund it with cryptocurrency and navigate to the 

While CHILLGUY has maintained strong trading volumes and continues gaining mainstream attention through its viral social media presence, investors should carefully weigh its strengths and risk factors before making investment decisions.

With its widespread brand adoption, sustained trading activity and explosive community growth of over 142,000 holders, CHILLGUY demonstrates significant market potential. However, meme coins are inherently volatile. Potential investors should 

 and invest no more than they can afford to lose.

CHILLGUY is the latest viral sensation to harness the power of the attention economy to convert social media momentum into crypto market success. While CHILLGUY has already demonstrated its ability to capture mass appeal, its position as a leading meme token will depend upon how effectively it maintains its cultural relevance and community engagement in this fast-moving market.

Intermediate

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Just a Chill Guy (CHILLGUY): Embracing the Art of Nonchalance

Zircuit (ZRC) combines optimistic and ZK rollups with AI-driven security, offering fast, low-cost Ethereum Layer 2 solutions. 

 network has flourished, mainly due to the ongoing network congestion, high fees and poor scalability of the latter. Many of these platforms use rollup technology, whereby batches of multiple transactions processed off-chain are bundled together and posted in bulk to the underlying Layer 1. Ethereum-linked rollups mainly come in two varieties 

 (ZK). While optimistic rollups boast lower computational overhead, the ZK variety of these networks features a higher degree of security.

Zircuit (ZRC) is a Layer 2 chain that adopts a hybrid approach, combining the elements of optimistic and 

. This lets the platform offer the performance benefits of optimistic technology along with the security of ZK validity proofs. To further enhance overall security, Zircuit uses a unique 

 (AI)–driven system of monitoring for malicious transactions.

 (ZRC) is a hybrid Layer 2 blockchain that combines the features of optimistic and ZK rollups, and uses AI-driven monitoring for potentially harmful transactions. 

 rollup development technology, a popular framework for building optimistic rollup networks. Additionally, it uses zero-knowledge proofs, which lets the platform offer the best of both worlds 

 the performance benefits of optimistic rollups and the security of ZK technology. Zircuit is 

The Zircuit project takes security very seriously, and has introduced a unique system of AI-based protection against malicious transactions at the sequencer node level. The use of ZK proofs and an AI-based protection system make Zircuit one of the most secure platforms in the competitive world of Ethereum Layer 2 chains.

Along with its excellent security benefits, Zircuit also boasts low costs, fast transactions, excellent scalability and 2-second block production intervals. All these features make it an ideal environment for 

 (DApps) in various niches, particularly 

 (DeFi). In fact, the leading protocols within the Zircuit ecosystem are all dedicated to the finance niche, with Zircuit Staking being the largest application by TVL.

With its heavy focus on DeFi, Zircuit aims to become a leading liquidity hub for various token types within the sector, including 

. These assets can be staked through the Zircuit staking program — supported by the platform's Liquidity Hub — to earn staking APRs, airdrop rewards and points based on the Zircuit Point program (covered further in our article).

The platform also operates a secure native bridging solution, 

, to help users transfer assets between its Layer 2 network and Ethereum Layer 1.

The company behind the project, Zircuit Ltd., was founded in 2021 in Canada by Dr. Martin Derka, Jan Gorzny and Angel Xu. Zircuit's testnet was launched in November 2023, but made headlines in April 2024 when the project reported that its 

 (TVL) had soared past $2 billion. While testnet TVLs are more a gauge of future potential for a blockchain than an indicator of its existing worth, the news attracted the attention of industry observers toward the platform. Following its highly publicized testnet success, Zircuit launched the first phase of its mainnet in August 2024. This was followed by the launch of the platform's native token, ZRC, in November 2024.

As a typical rollup, Zircuit uses an off-chain sequencer node to batch and organize Layer 2 transactions for subsequent posting to the underlying Ethereum Layer 1. The batches have ZK validity proofs attached to them to signal to Layer 1 validators that they’re free from fraudulent transactions. Zircuit's architecture also includes prover nodes, whose job is to produce these validity proofs.

However, unlike other rollups using ZK proofs (also known as validity proofs), Zircuit doesn't generate validity proofs for every block of transactions. Instead, some blocks have pre-generated template proofs, while others go through the process of having a dedicated validity proof created for them. After a few blocks featuring validity proofs, there are several more that utilize template proofs. The image below illustrates this approach.

The key reason Zircuit has adopted this form of proof design is that the process of generating ZK proofs is computationally intensive. By using template proofs for some of the blocks in a sequence, Zircuit can reduce the overall computational overhead. However, the project’s team has stated that the template proof model is temporary, and will be phased out in the future. At that stage, the platform will move to generating ZK proofs for each block.

Zircuit features a highly modular design whereby provers — responsible for generating validity proofs on the platform — can easily be plugged into or removed from the network. This modular approach is distinct from the standard ZK rollup design, in which provers are more tightly and less flexibly integrated into the overall architecture.

As noted earlier, Zircuit uses a dedicated sequencer to organize and batch transactions into blocks. The platform also applies AI-driven monitoring at the sequencer level (the Sequencer Level Security, or SLS) to spot and exclude fraudulent transactions before they’re finalized on Layer 2.

When transactions are first posted to Zircuit, they enter the 

 — a temporary area from which the sequencer picks and organizes individual transactions into blocks. The mempool is being monitored at all times, using AI algorithms to identify suspicious transactions. If a transaction in the mempool raises a flag, it's quarantined and assessed for validity before the sequencer can include it in a block. The image below shows how this process works.

One of the distinct features of Zircuit is its hybrid architecture, which combines the properties of optimistic and ZK rollups. At the base level, Zircuit is built using Optimism's Bedrock development framework, a technology popular for optimistic rollup networks. However, the use of ZK proofs — or, to be more precise, a combination of validity proofs and template proofs — ensures that Zircuit enjoys a security level that standard optimistic rollups normally can't match.

The use of AI-based SLS provides robust security to Zircuit, complementing the already highly secure ZK proof system. Very few Layer 2 networks in the industry currently feature anything similar, making the platform a true pioneer of AI use for sequencer-level operations.

Like any rollup based on Optimism Bedrock, Zircuit enjoys EVM compatibility. This allows for smooth interoperability with the underlying Ethereum Layer 1. EVM compatibility also makes it easy for developers familiar with Ethereum’s environment to develop Zircuit-based DApps, or to port existing Ethereum applications to the platform. Developers can take advantage of technologies commonly used for Ethereum (e.g., the Solidity programming language and the Hardhat development framework) to build Zircuit applications and smart contracts.

Zircuit Bridge is a native bridging solution designed to easily transfer tokens between Ethereum and Zircuit. It boasts high security, low transaction fees and fast transfers, and allows users to move a variety of cryptocurrencies between Ethereum and Zircuit, including ETH, 

) and LRTs like Super Symbiotic LRT (weETHs). As of late November 2024, the total number of cryptos supported by the bridge is close to 30.

Zircuit has launched a reward program called Zircuit Points. Users can earn these Points by staking supported assets, and by participating in the Build to Earn initiative (more on this below). Accumulated points will be converted to ZRC tokens in the future. Points also create the opportunity to qualify for token airdrops.

The primary way for most users to earn Zircuit points is via 

. The Zircuit Staking program lets you stake LSTs, LRTs, popular stablecoins, some wrapped tokens and Ether (ETH) to earn points. Using LSTs and LRTs, you can earn yields (along with native Zircuit staking APRs and Points) from the respective staking and restaking platforms that issue these assets.

Zircuit Points earned via staking have different multipliers, depending upon the asset. For example, Ether has a multiplier of 0.5, while LSTs, LRTs and stablecoins have a multiplier of 1. Multipliers for different LST and LRT assets may be subject to change in the future.

Build to Earn is another way to qualify for Zircuit Points. The program allows developers to contribute to the Zircuit ecosystem and earn Points in a number of ways, including:

Launched in November 2024, ZRC is the platform's native cryptocurrency. It's an 

 asset deployed on both Zircuit and Ethereum Layer 1. ZRC is mainly used for reward distributions, and participation in token airdrops for ecosystem DApps. Currently, transaction fees on the network are paid in Ether. It's possible that, in the future, ZRC might be used for some transaction fee payments.

ZRC is also used for rewards under the Gas Rebate program. As users conduct transactions on the platform, they 

. Zircuit’s Gas Rebate program provides rebates to offset some of the incurred fees. The amount of ZRC earned as a rebate is proportional to the amount spent on gas in ETH; the project's documentation states that for each ETH spent on gas, the user earns 125% in ZRC. All kinds of gas fee payments qualify for the rebate, including ordinary asset transfers and transactions involving interaction with Zircuit DApps.

ZRC is a supply-capped token, with a maximum and total supply of 10 billion. The token's supply allocation shares are as follows:

The ZRC token is available on Bybit's Spot market as a swap pair with USDT (

 to grab a share of the 5 million ZRC prize pool. New users who sign up for a Bybit account and complete identity verification can earn ZRC rewards by accumulating a deposit volume of at least 2,000 ZRC, or by depositing 100 USDT and trading 100 USDT worth of ZRC via their first trade with Bybit. 

Meanwhile, existing users can qualify for ZRC rewards by trading at least 500 USDT worth of ZRC on the Bybit Spot market, with the possibility of earning up to 10,000 ZRC based on trading volume. The 

 event will run through Dec 10, 2024, 8:59AM UTC.

Zircuit is among the pioneering Layer 2 platforms to adopt a hybrid design for a rollup network. Thanks to the platform's architecture, users can take advantage of low transaction costs, fast transfers and great scalability while enjoying the benefits of high security delivered by ZK proofs and AI-driven mempool monitoring. AI-based monitoring for fraudulent transactions is a particularly notable feature of the platform and is undoubtedly among the most advanced technologies employed in the blockchain industry.

User security combined with faster and cheaper transactions for the Ethereum network — all in one package — is now feasible, thanks to Zircuit's innovative technology and unique approach!

Advanced

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What Is Zircuit (ZRC): Where Performance Meets Cutting-Edge Security

Bybit is celebrating its sixth anniversary with the #Super6Bybit event, offering a $1.2 million prize pool and focusing on its bbSOL token.

Daily Top Performer — Virtuals Protocol (VIRTUAL)

On Wednesday, the S&P 500 fell 0.38% as tech stocks dropped and inflation data reinforced a hawkish Fed outlook. Coindesk Indices, an index measuring broader cryptocurrency market performance was down by 0.40%, with Bitcoin and Ether dropping by 1.86% and 1.79%, respectively in the past 24 hours.

Today's top performer is VIRTUAL, which surged 53.6% following the launch of the $MUSIC token by Agentstarter, featuring AI-driven music video capabilities and community-focused tokenomics.

Virtuals Protocol (VIRTUAL), founded in 2021, allows users to invest in and co-own AI-driven virtual assets like companions and influencers. Its model fosters community ownership, transforming AI agents into revenue-generating assets across platforms like Roblox and TikTok. The platform attracts contributors from AI and gaming to drive innovation in virtual economies. 

, using AI to create music videos and offering features like animated videos, voice mimicry, and karaoke tracks. The tokenomics allocate 60% for airdrops, 20% for liquidity, and 10% each for the development team and Virtuals Protocol.

Check Out the Latest Prices, Charts, and Data of 

Bybit is celebrating its sixth anniversary with the 

, offering a $1.2 million prize pool and focusing on its bbSOL token. Launched in September 2024, bbSOL is the first exchange-backed Liquid Staking Token on Solana, providing liquidity and staking rewards. The campaign, running from November 28, 2024, to January 6, 2025, invites participants to build, transform, and supercharge their bbSOL through tasks, leaderboards, and community milestones, increasing rewards. The event combines gaming mechanics, community engagement, and opportunities to win prizes while promoting innovation and growth in the crypto space.

Yesterday, there were no flows in BTC Spot ETFs, including GBTC and non-GBTC categories.

. Stake BNB on Lista's portal to get slisBNB, then deposit it into Astherus to earn airdrop points with multipliers (3X for Lista, 1.15X for Astherus). No lockup is required, and slisBNB is the most efficient option.

Beginner

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Bybit Celebrates 6th Anniversary with $1.2M Prize Pool and bbSOL Supercharging Campaign

Our weekly crypto derivatives analytics report delves into macro events, the current state of crypto and trading signals from spot trading volume, and futures, options and perpetual contracts.

ETH has outperformed, bolstered by SEC Chair Gary Gensler's announcement of his Jan 20, 2025 departure, and suggested by growing open interest in ETH perpetual. This positive momentum extends to several large-cap altcoins previously scrutinized by the SEC, as indicated by bullish funding rates for long positions.

Please check out the report’s highlights.

ETH Open Interest Grows While BTC’s Declines

ETH is outperforming BTC following the announcement of SEC Chair Gary Gensler’s departure, as evidenced in perpetual swap markets. BTC open interest has decreased from last week's highs, while ETH contracts have increased. Additionally, ETH trade volumes constitute a larger share of daily trading as compared to much of the past six months, despite an overall dip in trade volumes this week. The gradual decline in BTC open interest, without a surge in trading activity, indicates a strategic repositioning, rather than a wave of liquidations.

BTC Option Curve Inversion Deepens as Price Retreats

The pullback in the spot BTC price from the $100K target has led to a flat ATM volatility term structure, with short-tenor options dropping below 60%. 

This trend continues the correlation between term structure inversion and BTC spot price returns observed since the U.S. election on November 5, 2024

. The decline in front-end volatility aligns with lower realized volatility levels. While demand for short-tenor options has moderated, there hasn't been a notable change in open interest for calls or puts. Instead, their growth has stalled at the week's start.

Sentiment in ETH options markets seems moderately more bullish than in BTC's during the recent decline in momentum from the post-election rally. Call options lead in both trading volumes and open interest. 

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Bybit X Block Scholes Crypto Derivatives Analytics Report (Nov 27, 2024): Signal on ETH Outperformance Against BTC Surfaces on Long-Term Contracts

Explainers

Blockchain

Also known as Metis Andromeda, Metis is a Layer 2 scaling solution for Ethereum that features the lowest transaction costs in this competitive niche.

 (PoS) block validation model in September 2022, there was a widespread expectation that its platform's notorious network congestion and high gas fees would decline significantly. Unfortunately, the reality turned out to be very different as both problems, particularly the issue of high fees, remain to this day.

This ongoing situation has boosted the profile of 

 linked to Ethereum that promise to solve both overarching problems. The majority of these Layer 2 platforms do provide significant scalability, speed and cost benefits, and the race to be the most efficient solution in the space is heating up. Among these platforms, Metis stands out as a clear champion in terms of transaction costs, an issue of the utmost importance for most Ethereum users.

 (METIS), also referred to as Metis Andromeda, is a 

 platform serving Ethereum that features a number of distinct properties, such as 

 (Ethereum virtual machine) equivalence, complete off-chain decentralization, decentralized storage and a hybrid rollup mechanism. 

Metis's unique hybrid rollup architecture combines the elements of the two prevalent rollup models — optimistic and zero-knowledge (ZK).

A hard fork of the aptly namedpopular optimistic rollup protocol 

, Metis launched its mainnet operations in November 2021. In the past two years, the project team has gradually implemented the key functions that make Metis so distinct among Layer 2 protocols.

While other Ethereum Layer 2 platforms feature EVM-

 processing engines, Metis's engine — Metis Virtual Machine — is EVM 

. This equivalence helps Metis achieve nearly perfect compatibility with Ethereum.

Currently, Metis offers users the lowest transaction cost of all the leading Ethereum Layer 2 solutions. A key contributor to this cost efficiency is Metis's decentralized storage model, which uses the InterPlanetary File System (

Instead of storing and processing off-chain data in a centralized location, Metis’s platform rolls up a large amount of data and fraud-proof transactions, enabling much faster and cheaper data processing. Since the data is stored across multiple nodes in the IPFS network, the risk of hacking or data loss is minimized.

Metis's key goal is similar to that of other Layer 2 solutions — drastically reducing transaction speeds and fees on Ethereum. However, due to its unique architecture, Metis has so far been the most successful among these platforms in lowering fees, while also keeping processing speeds to a minimum.

Most leading Layer 2 protocols, Metis included, offer a setup whereby a typical transaction is completed nearly instantly or within seconds. There is an issue of timing concerning complete transaction finality, which we’ll cover below, but in general, Layer 2 protocols offer a fast-processing, seamless environment for Ethereum users.

However, these platforms have had varying degrees of success in reducing Ethereum's sometimes-extravagant transaction fees. While the leading Layer 2 platforms all offer significantly lower fees as compared to directly transacting on Ethereum, Metis has managed to achieve tiny, often less-than-a-cent costs. As of early November 2023, Metis's average fee for ETH transfers is under one cent, while the fee for token swaps is four cents. On both of these counts, Metis is significantly ahead of the competition.

At the core of Metis's functionality and efficiencies are two critical elements: a Smart Layer 2 solution and its hybrid rollup functionality. Let’s take a closer look at each of these two concepts that underpin the Metis platform’s operations.

Metis's Layer 2 scaling solution features a unique decentralized processing model.

In a typical Layer 2 solution (specifically, in an optimistic rollup from which Metis has been forked), transaction batches are passed to the sequencer, a single centralized actor on the network. The sequencer posts the transactions to 

, the Ethereum chain, where they’re validated and written to the permanent ledger. If the verifier on Layer 1 raises a 

 as a result of finding inconsistencies in the data, the transactions are rejected. The process of raising fraud proofs on Layer 1 consumes the resources of the underlying blockchain and leads to processing inefficiencies.

In contrast, Metis's Sequencer is only one part of the entire decentralized network used to process transactions. On Metis, a separate network actor, the Block Producer, collates transaction data and posts it to the Peer Network. Peers on the decentralized network act as the principal line of defense to spot and reject fraudulent transactions.

The Sequencer (part of the Peer Network) then posts transactions approved by the Peer Network to the decentralized storage (see above) and simultaneously notifies the Layer 1 Validator by sending the transactions’ metadata. The Validator from Layer 1 can then retrieve the data from the decentralized storage, check its consistency against the metadata it’s received, and either validate or raise a fraud proof.

Both the preliminary scrutiny by the Peer Network and the use of decentralized storage significantly reduce the load on Layer 1, helping minimize occurrences of fraud proofs.

As with other typical rollup protocols, Metis bundles transactions for batch posting to Layer 1. However, Metis's rollup model is based on a unique hybrid setup model that lets the platform achieve industry-leading fee reductions while maintaining fast transaction confirmation times. Metis's rollup architecture combines the elements of optimistic and 

 use quick and cost-efficient transaction processing to post transaction batches to the underlying Layer 1 platform without having to provide validity proofs. Validators on Layer 1 have one week from the time a batch is posted to raise a fraud proof if they discover any inconsistencies. Note that transaction confirmation (when a transaction is executed and confirmed by a Layer 2 protocol) on optimistic rollups takes mere seconds — and confirmation times are typically what most users are interested in.

Besides confirmation time, there’s the issue of 

. A transaction is considered finalized when it’s been permanently written to the Layer 1 ledger of records. Between the time a transaction is confirmed and the time it’s been finalized, it might be canceled if Layer 1 validators reject it. 

Optimistic rollups, while boasting quick confirmation times, have a lengthy week-long finality period, the time window during which validators can raise a fraud proof on Layer 1.

, on the other hand, don’t operate on the concept of fraud proofs. Instead, they require that transaction batches sent to Layer 1 already have 

 attached. As such, there is no mandatory (and lengthy) time window during which validators can flag a batch of transactions for inconsistency or fraud. This helps ZK-rollups achieve much faster transaction finality times as compared to optimistic rollups, although the latter feature quicker confirmation times and lower processing costs. Note that ZK-rollups also provide superior data privacy and security as compared to their optimistic counterparts.

By combining the optimistic and ZK technologies, Metis offers low-cost transactions that are confirmed within seconds, while also 

reducing transaction finality times from seven days to just around four hours

Decentralized Autonomous Company (DAC) Framework

Metis is dedicated to community-based governance. However, the platform doesn’t use the typical decentralized autonomous organization (

) governance model. Instead, it employs the Decentralized Autonomous Company (DAC) format.

In a typical DAO, governance decision-making is based on the number of crypto tokens a 

 has in possession or dedicates to staking. The more tokens you have, the greater your influence in the overall voting and decision-making process. This creates a potential problem of power usurpation by 

, entities that amass a large, often controlling number of tokens.

Moreover, some participants in DAO decision-making might have little interest in or knowledge about the proposals they vote on.

The DAC model employed by Metis solves these problems eloquently. In a DAC, the rules for on-platform governance can be pre-specified by developers via smart contracts and are typically based on the organized structure used by real-life 

 (hence, the name). For instance, the DAC rules might specify which user groups are allowed to vote on certain technical proposals. Network users without the requisite knowledge to understand the technical details of such proposals might be excluded from the voting process.

Specifically, the DAC model is driven by two primary actors: Commons and EcoNodes. Anyone can launch a DAC on the network and become a Common to create proposals. As a Common, you can stake METIS tokens to accrue veMETIS 

, which you can then use to participate in decision-making on Metis. A Common can potentially develop into an EcoNode with greater voting weight based on their contribution to the Metis ecosystem, as EcoNodes are selected by existing EcoNodes.

The Metis DAC framework helps the platform maintain an efficient, well-organized and comprehensive decentralized business structure.

The Metis Virtual Machine (MVM) is the platform’s computational engine, designed to achieve full equivalence with Ethereum’s EVM. This equivalence with the EVM allows blockchain developers to easily deploy native Ethereum apps on Metis with very little code modification. It also makes it easy to test apps and to port them between the layers.

Users have several bridges that can facilitate token transfers to and from the Metis crypto ecosystem. The platform's own native bridge, Metis Bridge, is the default for transferring assets to and from Ethereum. Besides the platform's native cryptocurrency (METIS) and ETH, the bridge also supports numerous popular Ethereum-based tokens, such as USDT, USDC, LINK, DAI, AAVE and WBTC.

For NFT transfers, you can use the Metis NFT Bridge, which supports two NFT-focused token formats, ERC-721 and ERC-1155.

The biggest limitation of Metis Bridge is its inability to directly transfer Metis tokens to and from blockchain environments beyond Ethereum. However, Metis has implemented an omnichain token transfer protocol, LayerZero, that lets you move assets between multiple blockchain platforms. Using third-party bridges that have also integrated LayerZero, you can transfer assets between Metis and platforms like 

 (ARB) and more. Among these third-party bridges, Synapse Bridge offers the widest choice of transfer opportunities for Metis, including all of the abovementioned networks.

METIS is the Metis platform’s native token, an 

 compatible asset that’s native to the Layer 2 protocol. METIS is used for transaction fee payments, staking and launching DACs.

The token’s maximum supply is specified at 10 million. Its current total supply is 5,410,000, while the circulating supply stands at slightly over 4.3 million.

The image below details METIS’s initial supply distribution at its launch in May 2021, with the rest of the supply to be allocated to activities such as community rewards, ecosystem development and transaction-related mining.

As of Nov 16, 2023, the METIS token is trading at $19.74, which is 93.87% lower than its all-time high of $323.54 on Jan 16, 2022 and over 470% higher than its all-time low of $3.45, registered on May 23, 2021.

Long-term forecasts for METIS are relatively bullish. PricePrediction 

 a maximum of $51.22 by 2025 and $298.88 by 2030, while DigitalCoinPrice 

 within the category of Layer 2 cryptocurrencies. Its confident leadership in terms of transaction fees is bound to attract larger crowds of Ethereum users sooner or later. However, this might not happen overnight, as the platform will need a certain amount of time to build wider brand awareness.

) developer community is also likely to increasingly appreciate the EVM equivalence of the Metis MVM, which makes Ethereum app testing and porting a breeze.

However, as Metis operates in the competitive niche of Ethereum Layer 2 platforms, the larger and more established players (e.g., Optimism, Arbitrum, and Polygon) will fight tooth and nail to retain their user bases. It might take some time for Metis's cost benefits to translate into significantly larger user numbers. Thus, METIS is more of a long-term-hold asset than a tool to turn a quick profit.

We would also like to note that our assessment doesn’t constitute comprehensive financial advice, as you’re encouraged to do 

 on the token’s overall investment potential.

The Metis Andromeda network is the first prominent Layer 2 that’s managed to deliver on its promise of sub-cent transaction fees. This is bound to boost DApp usage rates significantly. As more users flock to the Metis platform, we might become witnesses to another DApp revolution. Ethereum started the first one back in 2015, when it first introduced the concept of decentralized blockchain applications.

Metis might now become the commander of the second DApp revolution by attracting armies of new users, enticed by cheap transaction costs. Still thinking that swapping tokens on Ethereum robs you of that coffee at the local café? Think again — because Metis Andromeda delivers you token swaps that cost less than a sprinkle of sugar in your coffee.

Metis (METIS): Smart Layer 2 for Cost-Effective Scaling on Ethereum

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