MetisDAO Foundation announces the launch of KORIS

MetisDAO Foundations happens to have made their official announcement of the launch of KORIS. This happens to be an end-to-end functional framework for the sake of Decentralized Autonomous Companies (DACs). This happens to be the very first time something similar has been put forward, and the platform happens to be made absolutely for answering the requirements of businesses involved with Web3. 

Considering that there indeed has been a total fallout with regard to the crypto market, the very idea of decentralized autonomous organizations (DAOs) is not seemingly losing its shine in any way. This brings us to the fact that though steady growth is being witnessed with new DAOs appearing, there is also seemingly a simultaneous effort being seen to be made on matters related to overall regulations. 

Where KORIS is concerned, it was duly created by MetisDAO Foundation, and the claim happens to be that it is not only the very first but also the single platform that has been built in order to effectively address the individualistic requirements of various businesses, with the usage of smart contracts in the case of company functionalities. Therefore, in their opinion, KORIS has been created to assist decentralized companies’ daily operations to be properly supervised.  

Being a little different from conventional organizations, in the very case scenario of start-up companies in Web3, there appears to be rampant utilization of technologies as in the kinds of smart contracts for carrying out companies’ functions. Yet, even though the decentralized companies managed to increase their treasuries to $16 billion, there is a great lacuna where addressing daily requirements is concerned.  

According to the CEO and Co-Founder of KORIS, Pavel Sinelnikov, this platform provides an entire retinue of features. They happen to be Discord notifications, task and treasury management, voting, contracting, payroll management, and other such useful and extremely beneficial features. In his understanding, KORIS offers sophisticated technology which places businesses and organizations in the position of being able to utilize the benefits of smart contracts much more effectively. However, all said and done, and in the present scenario, KORIS happens to be in closed beta. The future sees it available to all concerned. 

On its own part, Metis happens to be an Ethereum Layer 2 Optimistic Rollup, which is involved in the backing of smart contracts and their development., along with dApps and also further upgradable transaction processing. The protocol happens to collect all Ethereum transactions and carries out processing activities off-chain, and finally, transfers them back to Ethereum for the purpose of recording. 

Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.

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