Continuing our plan to onboard key strategic partners ahead of the June 15 launch of the Metis Beta testnet, Metis is pleased to announce a partnership with decentralized finance project OpenDeFi.
Metis is a Layer 2 infrastructure for distributed collaborators that helps individuals create their own decentralized businesses on the Ethereum blockchain. With its Layer 2 dApp solution, the platform has made this process faster, cheaper, and more scalable.
OpenDeFi tokenizes real-world assets and then builds decentralized financial services around those assets. Through this partnership, OpenDeFi assets will become usable on Metis’ Layer 2 infrastructure to allow developers to build dApps that have access to a slew of real-world assets, 100% insured and 1:1 backed and held in custodianship.
HOW WILL THIS PARTNERSHIP WORK?
OpenDeFi is looking to launch and support projects across the DeFi ecosystem, with a vision to empower DeFi markets across a wide range of digital asset classes. To that end, the partnership with Metis will help drive the company towards its goal of supporting a more comprehensive suite of digital asset classes.
“We are thrilled to have a partnership with Metis, and believe that ease of use for developers is one of the main factors that will bring success to the ecosystem. Happy and proud to extend OpenDeFi asset availability to the next generation of builders across the globe,” said Mohit Madan, CEO of OpenDeFi.
Through this partnership, Metis and OpenDeFi will work together to build a bridge between institutional money and the DeFi world.
The agreement with OpenDeFi marks the latest DeFi-related partnership for Metis. Other DeFi partners include leveraged yield farming cross-chain aggregation protocol Bagels Finance, and Asteria, a next-generation, decentralized options-trading exchange.
“OpenDeFi is building for the long term with its focus on bringing institutional investors to DeFi, and we at Metis are excited to build this future alongside them,” said Elena Sinelnikova, co-founder and CEO of Metis. “Building a stable of high-quality DeFi partners and onboarding them to our Layer 2 platform will help Metis, and amazing partners like OpenDeFi, empower the economy of the future.”
Based on the spirit of Optimistic Rollup, Metis is building an easy-to-use, highly scalable, low-cost, and fully functional Layer 2 framework (Metis Rollup) to fully support the application and business migration from Web 2.0 to Web 3.0. Its scalable protocol supports a wide range of use cases, including yield farming, DEX trading, and powering the gig economy via dApps that offer cheap and fast micropayments.
Metis integrates the Decentralized Autonomous Company (DAC) framework within its Layer 2 infrastructure, a differentiating factor that makes it easy for any developers, builders, or community leaders to build their applications and communities. It also makes it easy to use pre-set tools to facilitate their development, manage collaboration, and enjoy the network effects of the world’s largest decentralized finance ecosystem, without the costs and bottlenecks normally associated with Ethereum. Metis’ goal is to make building dApps and DACs on its platform so easy to do, even total blockchain novices can make it happen in a matter of minutes.
OpenDeFi provides 100% asset-backed banking without the insidious, hidden charges and time-consuming tedium that come with traditional banks. Through its Fiat on-ramp OroPocket, users can invest in multiple asset classes, grow their wealth, enjoy 100% liquidity — all on Blockchain, with a simple app.
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