Steer Protocol and MetisDAO: A Synergistic Interaction
Introduction
Steer Protocol is a multi-chain decentralized compute protocol that allows for off-chain execution of apps, with a particular focus on automated liquidity management. It is designed to address the challenges of infrastructure and data in building, securing, and deploying decentralized web3 backends. With Steer, anyone can write cross-chain apps using 20+ programming languages using Steer app engines, connect them to secured data sources off-chain or on-chain using the Steer data marketplace, and execute on any blockchain using Steer infrastructure.
On the other hand, MetisDAO is an Ethereum Layer-2 scaling solution aiming to solve the blockchain trilemma: that blockchains cannot be decentralized, secure, and scalable simultaneously. It also strives to solve Ethereum’s biggest challenges: speed, cost, and scalability.
Why integrate?
The interaction between Steer Protocol and MetisDAO can be a game-changer in the world of decentralized applications (dApps). Here’s how:
1. Enhanced Scalability and Efficiency
Steer Protocol specializes in off-chain computing, complex & dynamic operations, and data processing apps. It allows up to 10 data integrations inside an app through its data marketplace. When combined with MetisDAO’s Layer-2 scaling solution, which increases both transaction speed and throughput, the result is a highly scalable and efficient platform for dApps.
2. Cross-Chain App Development
Steer Protocol allows developers to write cross-chain apps. This feature can be leveraged by MetisDAO’s infrastructure to build and manage existing dApps while also supporting developers and entrepreneurs who want to build and launch new dApps.
3. Democratized Access
Steer Protocol eliminates the need for centralized infrastructure setup, giving everyone democratized access to create apps, app engines, and data connectors and monetize them. This democratization aligns with MetisDAO’s goal of making blockchain accessible, affordable, and adaptable.
4. Automated Liquidity Management
One of the key features of the Steer Protocol is its focus on automated liquidity management. This is achieved through its innovative Smart Pools that provide seamless automation for active liquidity management using Steer Protocol’s cutting-edge multi-position strategy infrastructure, coupled with the prowess of off-chain computing. The resulting synergy of components allows for a novel approach that leads to high fees compared to other Automated Liquidity Management (ALM) systems in permissionless systems.
Conclusion
The synergistic interaction between Steer Protocol and MetisDAO can lead to a more robust, scalable, and efficient ecosystem for dApps. By leveraging each other’s strengths — Steer’s multi-chain compute protocol with a focus on automated liquidity management and Metis’ Layer-2 scaling solution — they can pave the way for a new era of decentralized computing.
