Metal DAO has been in the crypto industry for over 5 years.
However, many people are unaware of it, even though it has insane transactions per second speed.
So, if it is that exciting, why is it still unpopular? Let’s find out all about it!
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What is Metal DAO (MTL)?
In 2016, Meta DAO started as a blockchain platform that aimed to address several crypto problems.
One of the main issues was transaction speed and fees, which many crypto coins of that time failed to comply with.
Although crypto transactions were the most affordable, they still charged some fees, which MTL removed.
Metal DAO also claims to (theoretically) achieve a high transaction speed, which is almost equal to 4500 transactions per second.
The claim also sounds supportive enough since people haven’t seen any hiccups in the operations.
Overview of Metal DAO
2017 was the launching year for Meta DAO.
Its co-founders include four persons, i.e., Marshall Hayner, Glenn Marien, Fred Krueger, and Jacob Davis.
Together, they started Metallicus, a blockchain banking platform, which gave rise to Metal DAO, Metal Pay app, and XMD.
Currently, Marshall Heyner is the CEO of Metallicus, while Glenn Marien is the CTO.
The core responsibilities of MTL comprise two aspects.
One is its utilization as a utility token to govern another older stablecoin, the Metal Dollar (XMD).
The second one is benefiting MTL holders in various ways in the Metal Pay app (which was introduced alongside MTL).
Purpose and Utility
By holding MTL tokens in their Metal Wallet, holders can get several rewards and perks.
First, they can vote for their decisions and preferred proposals in the Metallicus ecosystem.
The voting governs the stablecoin Metal Dollar’s trends.
These votings also include other aspects, like:
- Introduction of new stablecoins
- Proposing and implementing new features
- Suggesting resource allocation and deciding their ratios
On the other hand, MTL also offers its users various perks in the Metal Pay app as well.
For example, they can enjoy several discounts while purchasing or selling cryptocurrencies on the application.
The discount depends on the amount of MTL tokens users hold in the wallet.
How Does Metal DAO (MTL) Work?
Metal DAO utilizes the Proof-of-Processed-Payments mechanism, which does more than just distribute rewards among users.
It allows the users to convert their fiat currencies into crypto coins, for which the platform confirms the user’s identity.
Hence, it also becomes a gateway integrated into the Metal Pay for the Metal DAO ecosystem
The platform aims to provide financial solutions to small- and medium-sized businesses.
So, it has integrated advanced KYC and AML technology to protect its data and funds.
Moreover, it uses a simple interface for their convenience to incentivize them into using a platform.
As a result, the user or business can make transactions on the Metal App using MTL and get back 5% of the transaction value.
To make it scalable for these teams, Metal DAO brings the Layer-0 blockchain solutions, that can help several fintech and financial institutes.
Metal Pay Platform
Metal Pay is the online crypto-banking application of Metallicus.
It allows MTL holders to send cash or other cryptocurrencies (including MTL) to their friends and other crypto merchants.
In return, the application rewards them with Metal tokens for various purposes.
Although people can use the MTL token for several advantages, they can also convert the token into cash easily within the platform.
So, users can send fiat and digital currencies to others.
But what’s exciting about Metal App is that it offers minimal transaction fees. It even becomes zero at a particular stage.
Hence, if the users hold a specific amount of MTL in their wallet, they can make transactions for free.
Plus, the application also allows trading. But the trading fee is also minimal.
For example, the Bitcoin trading fee is only 0.5%, while it is 0% for the USDC stablecoin (only if the user holds a certain MTL).
Governance and Voting
MTL holders can use their tokens to vote for the Metal Dollar platform (XMT) and Metal DAO.
The users require at least 100 XMT to publish a new proposal for voting on the network.
However, users can vote in agreement or disagreement with the proposal with either XMT or MTL.
By using the tokens, users can vote for the proposals for the addition or removal of stablecoins.
They can even set a fee for swapping XMD, even though the current swaps don’t cost any fee.
The user’s token numbers decide their votes, where 1 token is equal to one vote.
For instance, if the user has 18.37 XMT or MTL, they will have 18.37 votes available.
They can either use them all or not. The quorum for the approval of proposals is set to 40% in the Metal DAO community.
MTL Tokenomics
The native utility token, MTL, is based on the ERC-20 protocol.
Hence, it allows its users to collect, store, and hold the tokens in any Ethereum supporting wallet.
The total supply is only 66,588,888 MTL.
And interestingly, all the 66.59 million tokens are available in the circulation.
Supply and Distribution
The Metal DAO team had allocated several stages upon which the tokens would be released gradually.
However, this time duration is so short that all the tokens are already in circulation today.
Now, they are distributed as rewards on different occasions.
From an almost total of 66.6 million tokens, 30% of them are reserved for Public sale.
On the other hand, the team and the advisors have kept only 25%. 20% of the MTL tokens have been allocated to the Metal Ecosystem, while 15% is saved for the reserves.
The remaining 10% is for the community funds.
MTL also has a deflationary mechanism to burn some tokens.
Hence, it will help the platform to increase or maintain the token’s value over time.
Otherwise, users can benefit from staking and airdrops as well.
Incentive Structures
Metal DAO also incentivizes people to purchase MTL and hold tokens in their wallets for various advantages.
And these advantages are worth obtaining too.
For instance, being an ERC-20 manufactured token, staking is already on the table.
It will allow the holders to gain a passive income and generate more tokens just by holding them in the wallet for some time.
On the other hand, the team will also deliver a $MTL airdrop which selectively chooses a certain digital wallet of a recipient.
The users can be eligible for the airdrop either by holding specific tokens or performing specific tasks.
Airdrops may also choose a targeted community (like early birds) or a particular group (like those who get a forked version).
How to Acquire and Storing MTL
Giving a scalable and versatile solution to many fintech and finance businesses, Metal DAO has been under the use of various individuals.
Although its popularity is not as much as the other tokens, (like Solana, Ripple, and Shiba Inu), MTL is still a choice for various companies.
So, here’s how to obtain and store the token.
Acquiring MTL
The easiest method to obtain MTL is via the Metal Pay app itself.
Users can easily earn MTL tokens as they make transactions on the application, either purchasing new crypto coins or selling the possessed ones.
Typically, it involves the PoPP mechanism, which gives them a 5% return on the transactions in MTL.
However, the users can directly convert their other cryptocurrencies or fiat into Metal tokens as well.
But if they want to purchase Metal DAO tokens outside the Metal Pay, several crypto exchanges offer it too.
These platforms include Binance, Bitget, KuCoin, Coinbase, HTX, Gate.io, and others.
Their process may differ a little, but they all follow somewhat the same purchase process.
Users have to register on the platform and complete the KYC verification.
Next, they can go to the Buy Crypto section, select MTL from the purchasing tokens, and choose their payment method.
After verifying the transaction, they can get the token in the native wallet.
Storage Solutions
Storing Metal DAO tokens is not a problem, since the Metal Pay app already supports its native token.
On the other hand, the supporting exchanges can also support the tokens to be held in their native wallets.
However, in case the user has to store the MTL tokens outside these options, it won’t be a problem as well.
MTL tokens are configured on the ERC-20 protocol, which means the holders can store them on any Ethereum-based wallet.
It can be a hardware wallet that offers maximum security.
But several online solutions (like Metamask) are also available which increases the flexibility and accessibility.
Roadmap & Challenges
While Metal DAO offers several scalability solutions to multiple businesses, the platform has not presented a solid roadmap for its future plans.
Considering it has been around for more than half a decade, it raises many challenges for them as well.
Future Prospects
Although there’s no roadmap available on their website, forecasting some of their general plans is still possible due to their tactful approach.
They may introduce new proposal types for voting. On the other hand, their plans also include getting leverage in the DeFi space.
It might come with newer stablecoins. However, the implementation is unknown due to the absence of a proper roadmap.
Challenges Ahead
Coming to the consequences of not having a roadmap, people find Metal DAO less reliable since they are unaware of what they will bring next.
This might be the main reason why MTL is still struggling to be the prominent blockchain even after several years.
Now, it has hundreds of competitors as well. So, the road ahead may be tougher. Let’s see how MTL tackles them all.
Conclusion
Metal DAO has been in the market for quite some years, but it is still struggling to make an impact.
However, it is not like the blockchain is cold and out, since many financial institutes are still using MTL for their transactions.
Simply put, MTL has not found solid ground yet, still, it has been successful in surviving.
Now, it is only a matter of time before it hits the actual surge.
We Coin-Labs.com provides only objective information about Metal DAO (MTL).
Therefore, we are not responsible for the investment decision in Metal DAO (MTL) and the resulting loss.
Metal DAO (MTL) Basics
Here are some factors that investors should consider before investing in Metal DAO (MTL).
| Cryptocurrency Features | Metal DAO (MTL) (MTL) |
|---|---|
| Publisher or Developers | Metal DAO |
| Headquarters (Registration Number) | |
| Symbol | MTL |
| Platform | |
| Published Date (CMC Registration) | 2024-11-01 |
| Max Supply | No limit |
Reliability Score of Metal DAO (MTL) in 2024
These are indexes mesuring the investment reliability of Metal DAO (MTL) conducted by Coin-Labs.com.
| Investment Reliability Rating Items | Scores and Current Status |
|---|---|
| Company Activation Rate | / 10.0 CAR |
| Communication Rate | / 10.0 CR |
| Technology Transparency Rate | / 10.0 TTR |
| Development Participation Rate | / 10.0 DPR |
| Listing Status on the World's Top 10 Exchanges | Listed on 5 Exchanges |
| Number of Available Pairs Worldwide | 127 Pairs |
| Market Cap of the Cryptocurrency | 95,898,937 USD (Rank #357) |
The table above shows the result of investment suitability evaluation for Metal DAO (MTL).
Check out how we evaluate cryptocurrencies on the crypto rating description page.
Metal DAO (MTL) Price
Here are the price and recent trading volume of Metal DAO (MTL). (Data of 2024-11-02 00:35:00)
| Price Items | Price and Trading Volume of Metal DAO (MTL) |
|---|---|
| Metal DAO (MTL) Price | 0.917 USD |
| Price Change 24h | -0.56% |
| Price Change 7d | -6.95% |
| Trading Volume 24h | 3,369,969 USD |
| Trading Volume Change 24h | -25.68% |
Cryptocurrency Metadata
You can check the development status and social media information of Metal DAO (MTL) through the links in the table below.
| Metadata Source | URL |
|---|---|
| 🌎 Official Website | |
| 📖 White Paper | |
| 🛰️ Source Code (GitHub) | |
| 🎺 Message Board |
Where to Buy Metal DAO (MTL)
Here are the top ten world crypto exchanges where traders can buy Metal DAO (MTL) in 2024.
| Top10 Exchanges | Listed Status | Page URL |
|---|---|---|
| Binance | Listed | https://www.binance.com/en/trade/MTL_USDT |
| Coinbase | Listed | https://exchange.coinbase.com/trade/MTL-USD |
| Kraken | Not listed | |
| KuCoin | Listed | https://www.kucoin.com/trade/MTL-USDT |
| Bitfinex | Not listed | |
| OKX | Not listed | |
| Huobi | Listed | https://www.htx.com/trade/mtl_usdt |
| Bitstamp | Not listed | |
| Bybit | Not listed | |
| Gate.io | Listed | https://www.gate.io/trade/MTL_USDT |
Frequently Asked Questions
What is the current price of Metal DAO (MTL)?
Metal DAO (MTL) price today is 0.917 USD. Furthermore, the price of Metal DAO (MTL) has fluctuated by -0.56% from 24 hours ago, and by -6.95% from a week ago.
Where is Metal DAO (MTL) listed?
Currently, it is listed on a total of 5 among the world top 10 exchanges.
What is the market cap of Metal DAO (MTL) now?
Currently, Metal DAO (MTL) has a market cap of 95,898,937 USD, which is ranking 357 among cryptocurrencies worldwide.
How much is the trade volume of Metal DAO (MTL)?
Currently, 78,588,897 MTL coins are circulating through 127 market pairs. As a result, in the last 24 hours, 3,369,969 USD of MTL coins were traded in the market.
