Metis Raises $1M Seed Investment From Waterdrip Capital, DFG, Chain Capital And Angel Investors
Date
03/03/2021
Blockchain specialist Metis, has raised $1M in seed and angel funding, which will enable it to release its new Layer2 DAO framework at the end of March. The investors are Ralf P. Gerteis, P1X Capital, Waterdrip Capital, DFG, Chain Capital, AC Capital, Block.power Combinator, Hotbit, SSSnodes, Crasolum, Kernel Ventures, Catcher VC, Jubi Labs and Ming Liu, former co-founder of Tron.
Decentralized Autonomous Organisations (DAOs) create value in a decentralized and autonomous managed way, with members participating in a DAO and benefitting from it, based on their contribution. However, they have a number of inherent organisational and technological drawbacks. The structure of a DAO, involving governance by community voting, is impractical and not suitable for project operations at scale. Technologically, current Layer 1 solutions are marred by high gas costs, reduced efficiency levels, and a lack of on-chain management tools and usability of available platforms.