If you've been following crypto since 2017 you remember the madness and hype around new ICO projects. Thousands were created in the 2016-2018 stretch and ICO's still happen but just at much slower of a rate. Now hype is more focused on shipping usable projects that provide a benefit to consumer's lives whether it provides a feature not yet available or does something a traditional application may do but cheaper/faster/simpler. There have only been a handful of projects to really ship a useful product since the ICO phase and Metal Pay is one of them.
Metal Pay offers a "Venmo-like" payment app where anyone can send cash or crypto to anyone with a Metal Pay account. Not only that but the app also pays you to send and receive cash! Say I sent my friend Bob $10 via the Metal Pay app, we would both receive up to 5% of $10 ($.50) in Metal Pay's native ERC-20 token $MTL. The $MTL token is then available to trade in-app into cash which can be sent to your linked bank account. This is a huge reason for someone to switch from the app they currently use over to Metal Pay because it is the only payment app on the market that pays you to pay people. With Marshall Hayner as CEO and endorsements from prominent names like Richard Branson, Eric Voorhees, and Erik Finman it is hard not to be a little excited in what the future may hold.
I have been using the app since it was being tested for iOS devices and have seen first hand how far the app has come. They continue to update the app once every month or two and continue to add new coins to their cryptocurrency marketplace. Currently there are over 20 cryptocurrency's to buy and sell in the app. My favorite part about the app, besides getting paid to send and receive money, is how easy it is to navigate. It is so easy that my friends and family members who are not crypto enthusiasts can simply use the app without issue. It's so easy your grandma can do it!
To give a little background on how far Metal Pay has come since it raised through an ICO here is a list of developments:
Summer 2017- ICO
Fall 2018- Release of iOS app
Winter 2018- Top 25 finance app on App Store
Spring 2019- Acquired Crumbs (Crypto Acorns)
Summer 2019- Metal Pay University
Winter 2019- Metal Pay 2.0 with over 20 cryptocurrency's in Marketplace
Spring 2020- MetalX exchange launch
2020-2022 Release of Metal Mainnet and EthereumID
So all this is great but as cryptocurrency enthusiasts I'm sure you want to know more about the actual $MTL token. During 2017 $MTL found its way into the top 50 cryptos by market cap and since then has been depreciating due to market conditions. Like many other projects, Metal Pay has been working very hard to find ways to give token holders incentive to hold the token rather than to sell after receiving the PoPP (Proof of Processed Payment) reward. Currently, the advantage to holding $MTL lies within their app's trading fee schedule. Depending on how many $MTL you hold, you get a discounted rate on trading. If you hold 10,000 $MTL you pay 0 in trading fees for as long as you hold them. This is huge when many other exchanges charge outlandish trading fees. But even holding as little as 50 $MTL you will receive a trading fee discount. In the future the team plans to airdrop XID tokens to $MTL holders. XID is the token that powers the Metal Mainnet and will also be used for various functions (staking, voting, etc...) on MetalX.
You can find more information regarding the project at their website: