Metal DAO (MTL) serves as a utility token that currently oversees the stablecoin Metal Dollar (XMD), while also granting tiered trading discounts to MTL holders on the Metal Pay cash & crypto app. Users of Metal Pay holding 10,000+ MTL can avail themselves of 0% fees on all cryptocurrency purchases. In the future, Metal DAO's utility is expected to expand to include the ability to propose new stablecoins for the Metal Dollar basket, including determining their allocation ratios. Additionally, it will enable voting on new stablecoin issuers, such as community banks or fintechs. Metal Pay was conceptualized and launched by Metallicus in 2016.