Metal DAO
MTL Rank #721Price chart
What is Metal DAO?
Development
Metal's original design dates to 2016. Its Proof of Processed Payment programme rewarded conventional payment activity with MTL. That distribution programme ran in Metal Pay from 2018 to 2021. Metal Pay subsequently developed as a custodial cryptocurrency trading application. The ecosystem also includes the Metal X exchange and lending platform.
Governance and infrastructure
Metal DAO participates in decisions concerning the Metal Dollar stablecoin basket. XMD holds a basket of selected stablecoins rather than being the MTL token itself. Metal L2 uses the OP Stack to execute Ethereum-compatible contracts. The rollup batches transactions and submits information to Ethereum. ETH pays its network gas fees. MTL holders approved the migration initiative through DAO governance.
Token evolution
The original token allocation was sixty-six million, five hundred eighty-eight thousand, eight hundred eighty-eight MTL. A new Ethereum token contract was introduced for the June 2024 migration. The accompanying proposal included grants and ongoing development issuance, so the original allocation should not be presented as an unconditional current supply cap. MTL is separate from METAL, the native asset of Metal Blockchain. Its governance role also differs from the stablecoin settlement role of XMD.
Where to trade MTL
16 exchanges · top 10
Live spot quotes from connected exchanges
MTL funding rates
Live perpetual funding on every connected exchange. Positive = longs pay shorts.
Contracts & chains
Exact contract or mint per network — the identity layer used for DEX routing.
On-chain routes
Networks with a connected DEX routing adapter.