Metal DAO (MTL)

About Metal DAO (MTL)

MTL is an Ethereum token that powers the Metal’s products and ecosystem. Metal DAO is a payment processing application that provides its users with the facility to convert their fiat currencies into cryptocurrencies and vice-versa.

What is Metal DAO (MTL)?

Metal DAO (MTL) is a utility token that governs the stablecoin Metal Dollar (XMD). It aims to provide a platform for users to engage in the cryptocurrency space, providing tiered trading discounts to MTL holders when using the Metal Pay cash & crypto app. The utility of Metal DAO extends to proposing new stablecoins for the Metal Dollar basket, including their allocation ratios, and the option to vote in new stablecoin issuers. It’s a digital asset that aims to enhance the user experience in the cryptocurrency world.

How does Metal DAO (MTL) work?

Metal DAO (MTL) operates by providing its holders with certain benefits when using the Metal Pay cash & crypto app. For instance, Metal Pay customers who own 10,000+ MTL may have 0% fees on all cryptocurrency purchases. The future utility of Metal DAO includes the ability to propose new stablecoins for the Metal Dollar basket and the option to vote in new stablecoin issuers. This functionality strives to give users more control and flexibility in their cryptocurrency transactions.

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

Metal DAO (MTL) has a variety of potential use cases. It can be used to propose new stablecoins for the Metal Dollar basket, giving users the ability to influence the types of stablecoins available. Additionally, it provides the option to vote in new stablecoin issuers, such as community banks or fintechs. This allows for a more democratic and inclusive approach to cryptocurrency management. Furthermore, Metal DAO can be used to receive trading discounts on the Metal Pay cash & crypto app, making it a useful tool for frequent users of the platform.

What is the history of Metal DAO (MTL)?

Metal DAO (MTL) was developed and launched by Metallicus in 2016. Since its inception, it has been providing its holders with tiered trading discounts when using the Metal Pay cash & crypto app. Over time, the utility of Metal DAO has expanded to include the ability to propose new stablecoins for the Metal Dollar basket and the option to vote in new stablecoin issuers. This evolution has allowed Metal DAO to continually adapt to the needs of its users and the developments in the cryptocurrency sector.