Introducing Metal Blockchain
Introducing Metal Blockchain a trust-less, scalable layer zero (L0) blockchain that solves the problem of centralized bridge hacks, cross-chain compatibility, energy efficient scaling, and interoperability.
Metal Blockchain paves the way for a new generation of blockchains and brings Metallicus one step closer to achieving its mission of empowering global access to traditional banking and digital assets.
The origins began with $MTL, a blockchain agnostic governance token for the Metal ecosystem. Gave birth to Proof-of-Processed-Payment (PoPP), a gas-less layer one (L1) payment chain: Proton ($XPR), a cross-chain decentralized lending protocol $LOAN, and a decentralized stablecoin Metal Dollar ($XMD) governed by $MTL.
Moreover, with an efficient layer one chain like Proton, Metal can launch tokens, with an efficient layer zero like Metal they can launch blockchains. Its goal is to welcome new chains into the Metal ecosystem. Providing a fully decentralized bridge model with no centralized attack vectors.
What is Metal Blockchain?
Metal blockchain ($METAL) is a layer zero blockchain that allows any chain to deploy and find consensus through the Snow protocols. Allowing it to run on a highly efficient model of Proof-of-Stake (PoS), eliminating the need for Proof-of-Work (PoW).
What problem does Metal blockchain solve?
Metal Blockchain improves upon the initial work of Avalanche by adding a fourth subchain (A Chain) to offer a layer for payments and decentralized finance: Proton Blockchain (based on EOSIO protocol). Additionally Metal introduces Web Authentication (WebAuthn) support for EVM. The highly inefficient consensus of Proof-of-Work (PoW) has opened the door for many enthusiasts of top blockchains such as Bitcoin, Dogecoin, and Ethereum to begin the transition to Proof-of-Stake (PoS).
What are the core features of Metal Blockchain?
Metal Blockchain runs on a highly efficient Proof of Stake model, can process 4500+ transactions per second, and has a time to finality of < 0.5 seconds.
What are the $METAL tokenomics?
- Maximum Cap 666,666,666.00
- Initial Supply 333,333,333.00
- $MTL Allocation 60,000,000.00
- $MTL Conversion Pool 120,000,000.00
- Metal Foundation 144,333,333.00
What is the conversion event?
The conversion event is an opportunity for $MTL community members to convert their $MTL DAO governance tokens to $METAL coins.
A total allocation of 120,000,000 $METAL will be available in the conversion pool, with a maximum of 60,000,000 $MTL that can convert.
The progress of the conversion event can be tracked here.
When does the conversion event start?
The conversion event begins on July 29th, 2022 at 11:11 PM PST and will run for 90 days until October 27th, 2022 at 11:11 PM PST.
If the target conversion amount of 60,000,000 MTL is reached before the 90 days are finished, the conversion event will end early.
What is the conversion ratio of MTL to METAL?
If eligible, $MTL will be converted to $METAL at a ratio of 1:2.
Conversion can only occur during this event from fully KYC-ed/verified accounts. Any conversion can be denied at Metallicus’ discretion. Individuals on the sanctions lists of the Office of Foreign Asset Control (OFAC). Specially Designated Nationals List (SDN), and Sectoral Sanctions Identifications List (SSI).
ABOUT Metal Blockchain
Metal Blockchain brings Web Authentication for all transaction signing on the Metal EVM (A, C, P, X Chains). Eliminates the need for downloadable wallet software, while utilizing the secure element (SE) of the device. Essentially turning your phone into a hardware wallet. Through the use of Web Authentication, Metal removes the need for risky extension wallets. Utilizes a more secure and convenient framework (Face/Touch/Yubi when signing) Web Authentication. In line with the World Wide Web Consortium (W3C) recommendations.
