Metal DAO (MTL)

About Metal DAO (MTL)

What is Metal DAO (MTL)?

Metal DAO (MTL) is the native utility token that powers the Metal ecosystem, a decentralized platform for cryptocurrency payments, financial services, and asset management. Specifically, it governs the Metal Dollar (XMD) stablecoin, which is part of Metal’s broader goal to facilitate seamless conversions between fiat and cryptocurrencies. Metal DAO enables users to participate in the governance of the ecosystem, propose new stablecoins for the Metal Dollar basket, and vote on issuers of those stablecoins. Additionally, MTL holders enjoy benefits such as tiered trading discounts on the Metal Pay app.

The goal of Metal DAO is to provide a user-friendly, decentralized approach to cryptocurrency payments, with an emphasis on interoperability, low fees, and community-driven governance.

How does Metal DAO (MTL) work?

Metal DAO operates as a decentralized governance mechanism within the Metal ecosystem, allowing MTL holders to shape the direction of the platform and influence key decisions, such as:

1. Governance of Metal Dollar (XMD):
   • MTL is used to vote on the issuance and management of the Metal Dollar (XMD) stablecoin. This includes proposing new stablecoins for the Metal Dollar basket, determining their allocation ratios, and selecting stablecoin issuers.
2. Tiered Trading Discounts:
   • MTL holders benefit from discounts on trading fees when using the Metal Pay cash and crypto app. For instance, users who hold 10,000+ MTL tokens may enjoy 0% fees on all cryptocurrency purchases within the app, making it attractive for regular users of Metal Pay.
3. Voting on Stablecoin Issuers:
   • Metal DAO gives users the power to vote on the addition of new stablecoin issuers into the Metal Dollar ecosystem. This is part of Metal DAO’s broader vision to allow decentralized, community-driven decision-making in the cryptocurrency space.
4. Interoperability with Fiat and Crypto:
   • As a payment processing platform, Metal provides users with the ability to seamlessly convert fiat currencies into cryptocurrencies and vice-versa. This makes it easy for users to use Metal Pay for everyday transactions while enjoying low fees and enhanced control over their digital assets.

What are the potential use cases for Metal DAO (MTL)?

The utility of Metal DAO (MTL) extends across several areas within the Metal ecosystem. Some of the key use cases include:

1. Governance of the Metal Dollar (XMD):
   • MTL holders can participate in the governance of the Metal Dollar, deciding on new stablecoins that will be included in the Metal Dollar basket, as well as how those stablecoins are allocated.
2. Discounts on Trading Fees:
   • Holding MTL offers tiered discounts on trading fees when using the Metal Pay app. The more MTL a user holds, the better the discount they can receive, including up to 0% fees for users who hold 10,000+ MTL.
3. Proposing New Stablecoins and Issuers:
   • MTL holders have the ability to propose new stablecoins for the Metal Dollar basket, enabling them to influence the development and expansion of the platform. They can also vote on new stablecoin issuers, including community banks and fintech companies, further decentralizing the governance process.
4. Facilitating Fiat-to-Crypto and Crypto-to-Fiat Conversions:
   • The Metal platform allows users to easily convert fiat currencies (USD, EUR, etc.) into cryptocurrencies and vice-versa. MTL holders benefit from enhanced features and better rates on these conversions.
5. Community-Driven Development:
   • Metal DAO is built on the idea of community involvement. Through the governance mechanism, MTL token holders can propose and vote on changes and new features to improve the overall platform.

What is the history of Metal DAO (MTL)?

Metal DAO (MTL) was launched in 2016 by Metallicus, a blockchain technology company. It was developed to provide an easy-to-use cryptocurrency payment platform and enhance user engagement in the crypto space. The project started with a focus on enabling seamless fiat-to-crypto conversions through the Metal Pay app.

Since its inception, Metal DAO has evolved in several ways:

1. Tiered Discounts:
   • Over time, Metal DAO expanded the utility of the MTL token to provide trading discounts for users of Metal Pay, which incentivized more people to participate in the ecosystem and hold MTL tokens.
2. Governance and Stablecoin Management:
   • The platform shifted towards more decentralized governance, allowing MTL holders to propose and vote on new stablecoins and issuers for the Metal Dollar (XMD), a major milestone in expanding the ecosystem’s flexibility and user control.
3. Partnerships and Ecosystem Growth:
   • As the platform gained traction, it began to form key partnerships to integrate the Metal Pay app with additional services, thereby enhancing its capabilities and providing a comprehensive solution for crypto users.
4. Expansion of Use Cases:
   • Over the years, Metal DAO has grown to serve not only as a payment processing platform but also as a community governance structure within the broader cryptocurrency ecosystem. The inclusion of new stablecoins and governance participation reflects the platform’s adaptive nature to meet the changing demands of its users.