What is Metis? A New L2 Ethereum Solution for DAOs and Other Organizations

bednar@newsletter.paragraph.com (Bednar ) — Thu, 26 May 2022 07:06:34 GMT

Online social coordination is extremely difficult, and when you add anonymity and a capitalistic environment into the equation, you have the chaotic mess that is crypto. To solve this, Decentralized Autonomous Organizations (DAOs) have become a popular model of organization for crypto communities. While not all DAOs are created equal, a key characteristic is that the community should eventually be governed on-chain to promote greater transparency and remove human biases. The problem with this approach is that there are numerous tradeoffs that DAOs have to take to effectively run a community, often at the expense of important principles like accountability and decentralization. DAOs today are also heavily focused on governance voting and less so on building trust among distrustful community members. This is where the Metis team (MetisDAO) comes in.