What Is Metal Blockchain (METAL)?
Metal blockchain ($METAL) is a layer zero blockchain that allows any chain to deploy and find consensus through the Snow protocols (introduced by Avalanche) allowing it to run on a highly efficient model of Proof-of-Stake (PoS), eliminating the need for Proof-of-Work (PoW). Metal improves upon the initial work of Avalanche by adding a fourth subchain (A Chain) to offer a more resource efficient layer for payments and decentralized finance: Proton (based on Antelope protocol, adding WASM).
Additionally $METAL posits it can remove the need for external wallet software outside of the browser, creating a more native Web3 experience by adding Web Authentication (WebAuthn) support for EVM. The highly inefficient consensus of PoW has opened the door for many enthusiasts of top blockchains such as Bitcoin, Dogecoin and Ethereum to begin the transition to PoS.
Through creating a base-layer ($METAL) and custodially wrapped tokens (xTokens) on Proton, magnet blockchains can transition from PoW to PoS. $METAL eliminates the need for centralized bridges by allowing exchanging between the Proton (A chain) and Exchange (X Chain) subchains, eliminating the risk of bridge-hacking, a growing problem in the world of cryptocurrency.
| Coin Basic | Information |
|---|---|
| Coin Name | Metal blockchain |
| Short Name | METAL |
| Total Supply | 333,333,333 |
| Max Supply | 666,666,666 |
| Source Code | Click Here To View Source Code |
| Explorers | Click Here To View Explorers |
| Twitter Page | Click Here To Visit Twitter Group |
| Whitepaper | Click Here To View |
| Support | 24/7 |
| Official Project Website | Click Here To Visit Project Website |
The next generationof blockchains
Metal blockchain (METAL) is a layer zero blockchain (L0) 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).
Subchains
Proton (A Chain)
Built to handle payments, decentralized finance, dApps, DAOs, payment messaging (Banks, PSPs, Fintechs) with a higher resource efficiency.
EVM (C Chain)
Built to handle the Ethereum Virtual Machine and for deploying Solidity contracts that can interact with top cryptocurrencies in a trust-less environment.
Stake (P Chain)
Built for stakers to validate the Metal network or delegate to other validators to earn staking rewards.
Exchange (X Chain)
Built to handle cross-chain exchanging and transfers between sub-chains.
Web Authentication
Metal Blockchain brings Web Authentication for all transaction signing on the Metal EVM (A, C, P, X Chains), eliminating 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, and instead utilizes a more secure and convenient framework (Face/Touch/Yubi when signing) Web Authentication in line with the World Wide Web Consortium (W3C) recommendations.
Metal Blockchain Conversion Event
KYC’d on Proton Blockchain
The Metal Blockchain conversion event is open to anyone that is Fully KYC’d on the Proton Blockchain. There is no minimum threshold for conversion.
90 Day Event
The conversion event will begin on July 29th at 00:00am. The conversion event will end October 27th at 00:00am, or when the conversion limit has been reached, whichever comes first.
Conversion Ratio
A total of up to 120,000,000 METAL can be issued in the conversion event. A maximum of 60,000,000 MTL can be converted to METAL at a ratio of 1:2. Any METAL not converted will go to the Metal Foundation.
Send MTL to @metalchain
To participate in the conversion event, send your proposed allocation of MTL to @metalchain on the Proton Blockchain. Any MTL sent from an account that is not fully KYC’d will be returned.
METAL Distribution
All participants will receive their allocation of METAL upon completion of the conversion event or when the 90 days have elapsed.
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 Office of Foreign Asset Control (OFAC) – Specially Designated Nationals List (SDN), Sectoral Sanctions Identifications List (SSI), Blocked persons- and citizens of the following countries are unfortunately excluded from conversion: the Balkans, Belarus, Burma, Cote D’Ivoire (Ivory Coast), Cuba, Democratic Republic of Congo, Iran, Iraq, Liberia, North Korea, Sudan, Syria, United States of America, and Zimbabwe.
