The mining industry is worth trillions of dollars and is growing every day. The industry employs millions of people worldwide, yet it is still largely centralized. This means that a few companies control the lion's share of the market, and they can often manipulate prices to their benefit. The Metallika utility token was designed to decentralize the mining industry and give power back to the people. The Metallika network is a decentralized autonomous organization (DAO) powered by the blockchain. This means that it is governed by a set of rules that are encoded in smart contracts.
A decentralized autonomous organization, or DAO, is an organization that is run through rules encoded in computer code and that doesn't have a traditional management structure. This type of organization has several advantages over conventional organizations. For example, a DAO can be more efficient and effective because it is not bogged down by bureaucracy and red tape. Additionally, a DAO can be more transparent than a traditional organization because all of its transactions are recorded on a blockchain.
With Metallika, token holders can assess and manage the financial risks, which ensures the stability, transparency, and efficiency of the network. In addition, the Metallika token allows miners to be paid in a cryptocurrency that is backed by real-world assets. Metals and other mined materials will always be in demand, making the Metallika token a sound investment. It also means that token holders can benefit from the mining industry's success.
The Metallika network comprises five main components: the Ethereum virtual machine (EVM), the Metallika coin, the application layer, the community DAO, and the smart contracts.
The EVM is the place where smart contracts are executed. The Metallika coin is the currency used in the Metallika network. This currency is also used to power the EVM virtual machine. If necessary, the coin can be used in trading operations to purchase and sell minerals or even as a form of payment.
Smart contracts are programs that track and enforce commitments for each stage of the exploration and production cycle. Therefore, the number and function of smart contracts vary depending on the stage of the contract. This makes the system highly flexible and adaptable to changing conditions.
The application layer is a marketplace for mineral leaseholders, miners, and investors. This is where interested parties can interact and exchange information. The application layer also includes an ERP system for resource/inventory management, stock exchange reporting, and workflow verification. Activities surrounding mining operations may also be verified and audited on this layer.
The community DAO is responsible for the governance of the Metallika network and is made up of individuals and legal entities who are actively involved in the cycle of exploration, production, and trading of minerals.
The Metallika network is designed to be as inclusive as possible, and anyone can become a member of the DAO. Although holders of the Metallika token are not granted voting or shareholder rights, they are granted access to insights regarding their investment and are empowered to make informed decisions.
The Metallika network is also designed to be as efficient and transparent as possible. This means that all of the transactions on the network are recorded on the blockchain. This makes it easy to verify the accuracy of the data and track the network's progress.
The Metallika token is distributed on two different blockchains. The first blockchain is the Binance Smart Chain (BSC), and the second blockchain is the Ethereum network. Services such as Anyswap or Celer cBridge allow migration of the token to not affect the total quantity of Metallika tokens, and they remain unchanged.
The migration process is simple and easy to use, making it a convenient way to distribute the token. This allows users to access the token on both blockchains and use it on either network. This also allows for more flexibility when trading the token, as it can be traded on both BSC and Ethereum-based exchanges. The migration of the token is critical to ensure that users can have access to the token on both blockchains.
Overall, the Metallika network is a unique and innovative DAO-based platform that uses smart contracts to facilitate the exploration and production of minerals. The network is inclusive and transparent, making it a sound investment for miners and investors alike. In addition, the Metallika token is distributed on two different blockchains, making it easy to trade and use. This allows users to take advantage of the benefits offered by both blockchains.