Dear Metal DAO Community,

We are excited to share that the governance proposal we initiated within the Metal DAO has successfully passed on 04/06/2024.

The passed proposal, known as MIP-00, outlines our transition to Metal L2, which operates on the Optimism Superchain, akin to Base. This transition marks a pivotal moment for Metal DAO, as MTL will migrate from Ethereum to Metal L2, offering improved scalability, efficiency, and functionality.

Key Highlights of the Migration:

MTL v1 Token Snapshot on Ethereum Mainnet: We will be capturing a snapshot of the MTL v1 token on the Ethereum blockchain. We're currently in discussions with our exchange partners to coordinate a mutually suitable date. Rest assured, we'll announce the finalized date as soon as possible. Date: TBD.

Airdrop of MTL v2 Token on Metal L2 Mainnet: Following the snapshot event, we will conduct an airdrop of the MTL v2 token on the Metal L2 blockchain. Date: TBD.

Native Support for Metal L2 Mainnet Deposits and Withdrawals: As part of our commitment to providing seamless services to our users, we offer native support for deposits and withdrawals on the Metal L2 and Ethereum through the network bridge. 

Current supported bridge assets: ETH, USDC, MTL

Metal L2 Blockchain is live on mainnet

The Metal L2 blockchain is already live on mainnet, allowing users to explore its features and capabilities. Instructions for accessing Metal L2 are provided below:

• Network name: Metal L2

• New RPC URL: rpc.metall2.com

• Chain ID: 1750

• Currency symbol: ETH

• Block explorer: https://explorer.metall2.com

Thank you for your continued support and participation in the Metal DAO and Metal L2 ecosystem!