New chain integration: Metis x HYVE

New chain integration: Metis x HYVE

2024 is the year of achievements, that's for sure! As we are currently working on a new roadmap to be released in the coming days, we are excited to highlight that things have been making moves in the background. We are thrilled to announce that we have deployed our platform on our tenth supported blockchain in one of the fastest-growing ecosystems - Metis!

For us at HYVE, integrating Metis was a no-brainer: our platform now operates more efficiently, transactions are swifter, and the overall experience for freelancers and clients alike is vastly improved. We're not just talking about a technical upgrade; we're talking about a shift towards a future where freelancing on the blockchain is as easy and accessible as

As we continue to implement the many advantages of web3 within traditional freelancing, our partnership with Metis is a testament to our commitment to providing the best for our community.

Whether you're a developer looking to deploy a decentralized app or a freelancer eager to explore opportunities in the blockchain space, HYVE, now powered by Metis, is where your journey begins.

Introducing Metis: the game-changer

Metis is an Ethereum Layer 2 Rollup platform, a term that might sound complex but boils down to something quite simple and revolutionary - it's all about making the process of executing smart contracts faster, cheaper, and more scalable. In the bustling digital realm, where Ethereum has been akin to a congested city with high tolls and slow traffic, Metis acts like a high-speed rail, offering an expressway without compromising on the scenic view - or, in blockchain terms, security and decentralization.

For those who've felt the sting of high transaction fees or the frustration of slow processing times, Metis offers a beacon of hope, by being designed for both the hardcore Web 3.0 enthusiasts and the experienced developers, making it a versatile tool in your digital toolkit!

The creation of Metis Andromeda, a hard fork of Optimism, marked a significant milestone in the evolution of Ethereum layer-2 blockchains. Founded by Metis Labs and backed by Genesi DAC, under the leadership of Natalia Ameline — mother of Ethereum's co-founder Vitalik Buterin — Metis has carved its niche since its mainnet launch in November 2022. This collaboration underscores a commitment to support builders on the Metis Andromeda platform, fostering innovation and development.

As of now, more than 14,000 unique wallet addresses are holders of the $METIS token, with the protocol facilitating almost 50,000 transactions. This growth is a testament to the platform's robustness and the community's trust in Metis.

Why Metis? Why Now?

With its decentralized sequencer (a unique feature for any L2), hybrid rollup release, and full EVM-equivalence, Metis ensures resilience, the hybrid rollup significantly cuts down withdrawal times, and being EVM-equivalent means that if you're used to Ethereum, transitioning to Metis is a breeze.

But the true beauty of Metis lies in its answer to a critical problem: scalability. Ethereum's success has been its bottleneck, with the rise of DeFi and NFTs pushing transaction fees to prohibitive levels. Metis steps in as a hero, offering a solution that not only alleviates these issues but provides a glimpse into the future of blockchain technology.

With the ability to handle over a thousand transactions per second, Metis extends Ethereum's utility while maintaining the core benefits that made Ethereum the platform of choice for so many.

What about $METIS?

The $METIS token is used for transaction fees while returning 30% of the gas paid to protocols that build on the network. We have already integrated $METIS on HYVE, as our previous blog on the topic fully introduces the utility of the token within the Metis ecosystem.

Moreover, this protocol employs an optimistic rollup strategy to mitigate the high costs and lengthy processing times associated with Ethereum transactions. Optimistic rollups adopt a trustful stance, relying on fraud proofs to maintain integrity, rather than validating each block's state through proofs.

Tokens are back - meet $METIS!
The crypto world is undoubtedly a challenging domain that requires a deep understanding of blockchain technology, cryptography, and financial markets. Building a platform with universal possibilities of payment from scratch ain’t no easy task - we are on the verge of integrating 150 tokens! Our newest addition to HYVE, is

In essence, Metis serves more than a Layer 2 enhancement for Ethereum, offering an affordable and swift transaction experience. It creates a versatile, user-friendly, and scalable infrastructure that supports apps and businesses in the shift from Web2 to Web3.

This method of aggregating transactions drastically lowers gas expenses, thus making the use of decentralized apps (dApps) more accessible to a broader audience and encouraging the adoption of decentralized technologies.

HYVE and Metis: a partnership for the future

You might have noticed our ongoing weekly AMA series with Tudor, where we discuss upcoming plans for HYVE. We've talked about our new roadmap, features that we are currently working on, as well as a potential rebranding of the project.

Join us as we embark on this exciting journey, leveraging the power of Metis to reshape the freelancing landscape. Because at HYVE, we're not just building a platform; we're building the future.