The next big step is the integration of Web2 into the Web3 ecosystems.

Profile picture of Ishan Pandey Hacker Noon

Ishan pandey

Crypto veteran. Tokenization, DeFi and Security Tokens – Blockchain.

Ishan Pandey: Hi Elena Sinelnikova, welcome back to our “Behind the Startup” series. Tell us about yourself and the history of Métis?

Elena Sinelnikova: Years ago my longtime friend Natalia Ameline and I started getting requests from friends of ours to explain what blockchain is. So we started to organize these small meetings around a coffee in Toronto. These meetings turned into more important local meetings. These meetings started to spread to other places until they ended up covering 56 (!) Different countries around the world. From those humble beginnings, an organization called CryptoChicks was formed, one of the largest blockchain education and advocacy nonprofits in the world.

As CryptoChicks grew, a vast ecosystem emerged. Start-up entrepreneurs have started to come together in this ecosystem to understand how to launch their own blockchain ideas; for example, this is where Stani Kulechov really started to launch his DeFi project idea, which today is AAVE, one of the biggest DeFi projects in the world. This is also where I met Yuan Su, a blockchain developer working for IBM Hyperledger who has been coding since he was 6, and Kevin Liu, an incredibly intelligent serial founder and product developer. The three of us loved CryptoChicks’ idea of ​​’the blockchain for everyone’, so we decided to take that same idea and start our own business. This business became Métis.

Three years later, Metis is building a hub for the entire Web3 economy in 3 steps: Ethereum Layer 2 scaling solution with transactions of seconds and pennies; NO-CODE integration via smart contract models and a Decentralized Autonomous Company (DAC) infrastructure allowing blockchain AND Web2 companies to build decentralized ON-CHAIN ​​companies, with all the functionality of real-world companies and all the security and decentralization of the Ethereum blockchain.

Ishan Pandey: What do you think about the increase in Ethereum transaction fees? Also, does it make it difficult to launch blockchain startups on Ethereum?

Elena Sinelnikova: The Trilemma Blockchain seeks to strike a balance between high security and decentralization with high scalability. Ethereum is great in the first two, but struggles with scalability, as you mentioned. Currently, transactions on our Ethereum Layer 2 Rollup cost around $ 2; From Q1 2022, when we launch our new storage layer, these transactions will cost just pennies.

You mention startups – it’s no coincidence that we just launched into the mainnet 2.5 weeks ago, we already have over 60 strategic partners, many of which are startups. With our code-free middleware, DAC infrastructure, and Builder Mining features that complement fast and cheap transactions as well as Ethereum’s security and decentralization, we are becoming the place of choice for startups looking to grow and scale. develop.

Ishan Pandey: Tell us about DAOs and DAO regulations?

Elena Sinelnikova: Decentralized Autonomous Organizations are an excellent organizational structure in that they allow groups of people to come together and perform voting and governance functions in a decentralized manner. Currently, progress has been slow and steady in building DAOs, with more jurisdictions (like the state of Wyoming in the US) legalizing and officially welcoming DAOs.

Ishan Pandey: What is a DAC? Also, how does it work and what are its use cases?

Elena Sinelnikova: Métis is building a much more ambitious structure than DAOs: Decentralized Autonomous Companies (DAC). With DACs, every entity of a large Web2 company (imagine Nike) has a loosely affiliated group of enthusiasts (imagine yourself and 10 friends exchanging NFTs) to something in between (an independent staffing service like a Web 3 version). / decentralized from Fiverr or Upwork) can take advantage of our decentralized business models and all the features found in a Web2 business (ERP / CRM software, payroll management, Slack-like messaging platform) to run all their operations directly on the blockchain, with fast ones and cheap transactions and a secure decentralized structure mentioned above!

Ishan Pandey: Tell us about your take on Web 3 and how is it different from Web 2?

Elena Sinelnikova: The biggest difference is in governance. We are strong supporters of decentralization, to the point that we are the first Layer 2 platform to publish a comprehensive decentralization roadmap, with a plan to turn 100% of the governance of our infrastructure over to our community (not to our team!) by the third quarter of 2022.

This fundamental difference changes everything from the way companies associate to the way teams operate on a daily basis. The future of work is most certainly decentralized and most certainly Web3 driven.

Ishan Pandey: What do you think of Solana as an alternative to Ethereum to launch NFTs?

Elena Sinelnikova: I mentioned the Blockchain Trilemma earlier. Solana sacrifices decentralization and security to make transactions cheaper. As long as his network continues to function, so much the better. Unfortunately, as we have seen recently, Solana encountered several network issues. When a major outage or, worse yet, a major crash or loss of assets occurs, people will wish they had turned to an environment where they could, for example, create NFTs for a few dollars and benefit from any. decentralization and security. of Ethereum.

Ishan Pandey: What’s your take on Metaverse? Do you think this will break societal constructs like social media?

Elena Sinelnikova: We are very excited about the growth of the Metaverse and the ability of the Métis to take Metaverse projects to the next level by including DACs! We see this trend and GameFi in general as a huge driver for future blockchain growth, and more than that, just a really cool new idea for ordinary people to experience and enjoy. There are so many amazing Metaverse projects being launched and expanding.

We devote large investments and grants to the most promising MetaVerse projects, combining these incentives with the scalability, security and decentralization that are our hallmarks, creating an ideal value proposition for MetaVerse projects looking to scale and scale. develop their activity.

Ishan Pandey: What new trends do you think we will see in the blockchain industry?

Elena Sinelnikova: We believe that the next big step is the integration of Web2 into the Web3 ecosystems. Offering smart contract models that act as middleware, allowing anyone from overwhelmed blockchain developer teams to Web2 businesses even without blockchain experience or expertise, to connect to the Metis network with just a few clicks. Combine this middleware with our DAC infrastructure, and we plan to onboard dozens and dozens of great Web2 partners in industries ranging from real estate to healthcare to gaming and more in the weeks and weeks. months to come!

Warning: The purpose of this article is to remove the information asymmetry that exists in our digital markets today by performing due diligence, asking the right questions, and giving readers better opinions to make informed decisions.