Metis, Netswap, and Rubic: Running Decentralized Economies
The Metis Network is a Layer 2 protocol that runs Decentralized Economies, which also became the next blockchain integrated into Rubic, expanding its list to 23. Metis is a scalable and sustainable Layer 2 built on Ethereum, that onboards Web2 onto Web3 through their Smart L2 architecture and increases Web3’s mass adoption. To deliver the best rates and trade times for swaps, Rubic has integrated Netswap, a one-stop exchange platform for DeFi, as a provider on the Metis chain.
Let’s have a look at the Metis Network alongside its Netswap DEX, and see what prospects are awaiting Rubic with the integration of these projects.
Metis and Rubic
Now, users can make on-chain and cross-chain swaps between Metis and Ethereum, BSC, Polygon, Avalanche, Fantom, Telos, Moonbeam, Moonriver, Cronos, Boba, Oasis, Kava, Optimism, Arbitrum, Fuse, Celo, and Gnosis.
The tokens available from swaps on, to, and from the Metis blockchain are AVAX, BNB, BIFI, BIOS, BTD, BUSD, GTPS, MAI, MATIC, MIM, OH, QI, STND, UNIDX, and wsHUMP, depending on the exact chain.
METIS is an Ethereum token and operates as the internal currency for staking and payments in the Metis crypto ecosystem. Users can pay for goods and services offered through Decentralized Autonomous Companies (DACs) built on the Metis protocol. METIS tokens also play a role in reducing spam and ensuring trust between developers and users alike.
Here are the numbers:
- Metis Market Cap $83.9M
- Trading Volume $3M
- Total transactions 4,077,366
- Total blocks 4,077,367
What is the Metis Blockchain?
Metis is an Ethereum Layer 2 Rollup platform that offers simple and fast smart contract deployment within the network. Metis provides several solutions to solve the challenges we face in mainnet Ethereum, including transaction speed, cost, and scalability.
Metis offers different products to blockchain project developers, app developers, and everyone who is interested in obtaining modern solutions for Ethereum challenges. Among them:
- Metis NFT Bridge
Built by a team of blockchain professionals, the Metis NFT Bridge provides everything you need for connecting two different networks.
- Metis Oracles
Oracles connect blockchains to external systems and provide smart contracts with external information. A Metis Oracle gives Ethereum projects on-time data from the outside world to perform reliable actions.
- Metis Nodes
Metis Nodes allow security and reliability to come to the forefront. Blockchain nodes store a complete copy of the distributed network and play an important role in the blockchain ecosystem.
- Metis Graph
The Metis Graph is an indexing protocol for collecting, processing, and storing data to be used in the blockchain network. It aims at facilitating information retrieval using a service called GraphQL.
The Architecture of the Metis Smart L2
Metis has focused on the optimistic rollup which aims at reducing the time and cost of performing transactions. In recent years, the number of Ethereum transactions has surged, resulting in expensive transactions. Metis L2 rollup utilizes an exclusive method that is fraud-proof and meets our high security and data availability requirements.
You will experience very low gas fees, reduced from around $2–3 to around $0.02–0.14. More importantly, the Metis L2 rollup offers low latency and high availability, which are essential requirements within the Web 3.0 ecosystem and the Ethereum blockchain.
What is Netswap?
Netswap is a decentralized exchange (DEX) that runs on Metis Andromeda (Layer 2).
As a core value exchange, Netswap uses the same automated market-making (AMM) model as Uniswap. However, unlike Uniswap, Netswap is a native Layer 2 DEX, which will utilize the key features of Metis Layer 2, including low transaction costs, high transaction speeds, and high scalability to support various bridges, Layer 2 native tokens, and more innovations.
Beyond the performance upgrades to the technical status quo, Netswap is a community-driven DEX. The native governance token, NETT, enables the community to drive the development of the product in full. Netswap features a 100% community-focused token distribution model, meaning that all tokens are distributed directly to the community, without any allocations to team, advisors, investors, or insiders.
Netswap builds on the frontier of DeFi, providing users with an innovative, seamless, and accessible trading experience and maximizing yield generating activities on the multi-functional Decentralized Trading Platform.
Fast and cheap token swaps with the Netswap automated market maker (AMM) exchange.
With the Netswap pool, users can provide liquidity and earn 0.25% swap fees on all trades, proportional to the share of the pool.
This is also known as liquidity mining: users deposit their liquidity pool tokens into farms and earn bonus rewards.
Stake your NETT tokens to earn different incentives or more exotic tokens.
Users can stake their NETT to accrue wNETT and to participate in exclusive launch events for newly-issued tokens.
Netswap believes that with the affordable and scalable infrastructure of Layer 2, different dApps and even businesses will be able to fully exploit features of the blockchain, and thus build a vivid and promising Web3 economy. To back that up, Netswap will support various tokens, either bridged tokens from other chains, or native Layer 2 tokens issued by different DApps. Furthermore, Netswap will embrace innovations. Netswap has worked with Wowswap to provide a built-in leverage swap function (up to 5X leverage), aiming to provide users with many more functions and ways to exchange value. Next, Netswap also aims to be a propeller for projects to start their cold launch, the Launchpad that Netswap will release in the near future will help projects to build their initial community recognition and raise funds for project development.
The mission of the Metis blockchain along with Netswap is to contribute to the decentralized economy and expand decentralization in the blockchain world, making it available to the masses. Rubic journeys in the same direction, and we’re always pleased to partner with projects that see eye to eye with us.
Rubic is a One-Click Cross-Chain Aggregator which allows users to swap any of 15,500+ tokens, on and between 23 blockchains and receive the best rates from all leading trading providers. Rubic includes On-Chain & Cross-Chain swaps for Ethereum, BNB Chain, Polygon, Avalanche, Fantom, Arbitrum, Gnosis, Fuse, Celo, Optimism, Moonbeam, OKC, Boba, Tron, Moonriver, Cronos, and Bitcoin; with seamless fiat on-ramps and more!
Rubic provides the tools for crypto projects to become fully interoperable between blockchains, with an easy-to-install widget and a fully-customizable SDK. Rubic is already servicing more than 90 projects! Installation of Rubic’s SDK or Widget unlocks DeFi for any project, with access to over 15,500+ tokens across 23 blockchains, all available right on your website or inside your app.
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