Okay, so according to the voting results, the majority choose Metis, in the next post I will explain about the Metis.

What is Metis?

Metis Andromeda is Ethereum’s Layer-2 (L2) roll-up protocol that offers simple and fast smart contract deployment to a network. It seeks to address the blockchain trilemma– the challenge of simultaneously achieving decentralization, security, and scalability.

Metis aims to help developers improve existing decentralized applications (dApps). In addition, they also provide support for developers who want to develop and introduce new dApps.

This is done by integrating the Decentralized Autonomous Company (DAC) framework in the Layer-2 infrastructure. This will ease the transition for developers and businesses to move from the Web 2.0 ecosystem to the Web 3.0 ecosystem.

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How Does Metis Work?

Metis Andromeda is an L2 with optimistic rollup technology. It rolls up a batch of transactions into one on L2 and sends it back to L1 (Ethereum). However, Metis’ rollup model has a unique hybrid setup. It allows Metis to reduce fees while maintaining fast confirmation times significantly.

One factor that makes this possible is using InterPlanetary File System (IPFS), a decentralized storage space with peer-to-peer architecture. So, instead of storing and processing data off-chain in a centralized location, Metis stores it spread across various nodes in the IPFS network.

In this way, data processing can be more effective while minimizing the risk of data loss or being hacked. Combined with rollup technology, Metis can reduce transaction fees to 100x lower than the Ethereum Mainnet, making it the lowest-cost L2 network on Ethereum.

Unlike other L2 platforms with EVM-compatible processing engines, Metis’ engine -Metis Virtual Machine- is EVM-equivalent. This is an advantage of Metis because MVM is better than EVM-compatible.

Regarding security, structure, and programming language (Solidity), MVM is equivalent to EVM. Thus, the development team can easily deploy native Ethereum applications to Metis with slight programming code modification.

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Conclusion

Metis Andromeda is the lowest-fee Layer-2 roll-up protocol on Ethereum. Thanks to implementing optimistic roll-up technology and IPFS, Metis can reduce transaction fees up to 100x lower than Ethereum. In addition to scalability solutions through roll-up technology, Metis has features such as Decentralized Autonomous Company (DAC), Metis Bridge, and MVM, an EVM-equivalent engine.

Metis’ native token, METIS, is used for transaction fees and staking. METIS has a maximum supply of 10 million tokens. Committed to growing its ecosystem adoption, Metis has announced a token distribution similar to the successful Avalanche incentive program.

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Top 7 Token Unlocks of the Upcoming Week

The following tokens with the largest unlock amount will be unlocked next week:

Axie Infinity - $115.32M
Arbitrum - $103.82M
StarkNet - $90.09M
Immutable - $71.69M
Sei - $65.90M
Uniswap - $62.83M
Manta Network - $60.05M

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Bitcoin recently dropped from $71k to $61K.

If the correction persists, keep an eye on key metrics like traders' unrealized profit margins and the realized price.

These have signaled weakness since late March.

#NekoNews @OriNeko

PAXG hit new high on Middle East tensions, raising questions about Bitcoin

A gold-backed digital asset from Paxos spiked to an all-time high over the weekend amid a backdrop of rising tensions in the Middle East, leading to some questioning Bitcoin's value as a geopolitical hedge. The PAXG gold-backed crypto token hit $2,855 on April 13 as Bitcoin prices conversely tanked $5,000 in a matter of hours from over $67,500 to bottom out at around $62,700 in a 7.5% daily rout, according to data from CoinGecko.

The PAXG token could not sustain momentum, however, and retreated to its previous spot gold-linked price level of around $2,376 at the time of writing.The asset has made slow and steady progress since the beginning of March, rising 20% in tandem with prices of the underlying precious yellow metal, which hit a peak of $2,400 per ounce last week.

#NekoNews @OriNeko

German Banks Welcome Crypto Custody

Germany's largest federal bank, Landesbank Baden-Württemberg (LBBW), has partnered with crypto exchange Bitpanda to provide cryptocurrency custody services. This move comes in response to the growing demand for digital assets among their account holders.

The service will be available to corporate and institutional clients starting in the second half of 2024.

Similarly, Deutsche Bank is also developing its own custodial service for digital assets.

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Base asset tokenization protocol loses $1.7M due to private key leak

Real-world asset tokenization protocol Grand Base (GB), which operates on Coinbase’s native layer-2 blockchain, has suffered $1.7 million in losses after a private key compromise.

"On April 15 at 03:01:27 AM +UTC, an exploit happened on our contracts,” wrote an admin in the protocol’s Telegram chat. “For this specific reason, we urge all our community members to stay away from this contract as it is not safe anymore.”

According to blockchain analytics firm PeckShield, the private key leak resulted in the theft of $1.7 million in tokens from its liquidity pools, which have since been swapped on-chain for Ether and sent to an external address. Simultaneously, the protocol’s native token lost 99% of its value within the past 24 hours due to the incident.

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🔥 Most Popular Crypto Narratives

A bull market is a time when narrative means everything for crypto projects. We have covered many of them, but not many have already proven their potential. Is there a correlation between narrative's performance and popularity?

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Attention iOS Users!

Trust Wallet has alerted about a potential high-risk zero-day exploit targeting iMessage that could impact not just cryptocurrency wallet users but the entire crypto community.

This alarming information was initially discovered on the Dark Web, where a hacker claimed to have the ability to exploit this vulnerability. Trust Wallet has since confirmed these claims as credible.

To protect your device, it is recommended to disable this feature immediately. Simply go to your settings, select Messages, and turn off your iMessage.

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UK Trials Blockchain for Banking Sector

The UK is experimenting with a specialized distributed ledger for maintaining financial records and monitoring transactions.

This pilot program, spearheaded by UK Finance—a consortium of British banks and financial service providers, aims to develop a commercial blockchain system for tokenized securities and deposits.

Participating in the trial are major banks including Barclays Plc, Lloyds Banking Group Plc, and Citigroup Inc., along with payment giants Mastercard and Visa. The blockchain technology for the test is being provided by the project Quant.

The outcomes of the trial are expected to be released in August this year.

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