The world of blockchain is a labyrinth of complex, often unstructured data. For developers and projects alike, navigating this vast sea of information can be daunting since standardizing, indexing, and making sense of blockchain data is a significant challenge. Yet, good data is the foundation of any successful project, and therefore finding efficient ways to access and utilize blockchain data is becoming increasingly critical in today's world.
In this regard, Ethereum Layer-2 protocol Metis has been making waves recently thanks to its mission to bridge the gap that currently exists between Web2 and Web3 projects. As the most cost-efficient Ethereum Layer-2 solution, Metis currently offers gas fees that are 200x lower than those on the mainnet.
Revolutionizing Blockchain Data Access
On June 13, Metis announced that it would be integrating PARSIQ's Tsunami API into its existing digital framework, marking a significant step forward in Metis's quest to enhance its functionality. PARSIQ, renowned for its on-chain blockchain data monitoring service, has been making its presence felt in the crypto and traditional finance sectors for some time now.
In 2021 alone, PARSIQ secured over 50 strategic partnerships, including with prominent projects and service providers such as AAVE, OKEx, Solana, Chainlink, Polkadot, UnoRe, Mysterium Network, PancakeSwap, and deBridge. Tsunami API, a product of PARSIQ, offers a plug-and-play solution to complex data problems, providing real-time and historical data querying abilities.
With this integration, developers will now be able to access both historical and live Metis blockchain data via filtered and indexed APIs. This integration promises to enhance the development of robust applications and scale the Metis ecosystem. Regarding the development, Tom Ngo, Executive Lead for Metis, noted:
"Projects like PARSIQ help Metis with its primary goal - facilitating business evolvement from web2 to web3. Now developers working on Metis will have an even easier experience accessing data they need."
A similar sentiment was echoed by PARSIQ CEO Tom Tirman, who expressed his enthusiasm for the integration, citing the shared conviction of both organizations that the future belongs to Web3. "With their dedication to improving the scalability of Ethereum, Metis has built a perfect platform for builders and innovators in the space," he added.
Lastly, it bears mentioning that decentralized lending protocol Aave recently deployed its V3 on Metis, a decision that was met by an overwhelmingly positive community vote. The deployment of Aave on Metis increases market liquidity for both ecosystems, with Metis users benefiting from Aave's borrowing and lending features, such as earning rewards for providing token liquidity to the platform.
Not only that, as part of the development - as well as to attract more users and foster network growth - Metis recently offered 100,000 of its native tokens (METIS) as liquidity mining incentives for Aave users over a six-month period.
Therefore, as Metis and PARSIQ continue to take big steps towards becoming integral parts of the burgeoning Web3 paradigm, the crypto community is looking at what's next on the horizon for these pioneering entities.
