Meter Governance

What is Meter?

Meter is a decentralized finance (DeFi) infrastructure that integrates a crypto-native, metastable currency known as MTR. It functions as a highly decentralized, high-performance Ethereum Virtual Machine (EVM) compatible side chain for Ethereum and other public blockchains. The Meter system leverages a hybrid consensus mechanism, combining Proof of Work (PoW) and HotStuff-based Proof of Stake (PoS), to achieve its goals. MTRG, the Meter Governance Token, is utilized to manage the blockchain ledger and ensure the system's stability and security.

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Recent Video Interview

Main points of the interview:

• Shaan Je, co-founder of Meter, discussed the platform's goal to create a stable cryptocurrency.
• Unique features like front-running resistance and Ethereum compatibility for financial and gaming applications.
• The platform uses MTR as a gas token and MTRG for governance and staking.
• Meter’s Passport bridge facilitates token transfer across networks, with ongoing efforts to expand support for more stablecoins and chains like Kronos.

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Key Features and Benefits of Meter

Meter aims to address several significant challenges in the current blockchain and cryptocurrency space:

• Metastable Currency: MTR is designed to provide a low-volatility coin for fees and payments, avoiding the extreme volatility seen in other cryptocurrencies.
• High Performance: With its hybrid PoW/PoS consensus mechanism, Meter processes thousands of transactions per second, achieving near-instant finality.
• Decentralization: By integrating HotStuff-based PoS, Meter ensures a highly decentralized network.
• Interoperability: Meter acts as a side chain for Ethereum and other public chains, facilitating scalability and value interaction across different blockchain networks.

What Problems Does Meter Solve?

Meter addresses two primary issues in the blockchain ecosystem:

Stable and Decentralized Unit of Account

Native cryptocurrencies often exhibit high volatility, making them impractical for frequent transactions. On the other hand, stablecoins can be centralized, have limited capacity, or rely on oracles, which introduce additional risks. Meter provides a stable, decentralized unit of account through MTR, created using SHA256 PoW. This approach anchors MTR to the global electricity price, ensuring more stable value compared to fiat currencies.

Scaling and Interoperability

Current blockchains face significant challenges related to scaling and interoperability. Meter's hybrid consensus mechanism and EVM compatibility allow it to function as a high-performance side chain that can interconnect with other blockchains. This capability enables the scaling of DeFi applications and facilitates seamless value transfer between different blockchain networks.

How Can Meter Be Used?

Meter offers various use cases across the DeFi landscape and beyond:

DeFi Infrastructure

Meter is built to support a wide range of DeFi applications, including decentralized exchanges, synthetic asset platforms, and lending protocols. Its high-performance, decentralized network enhances the speed and scalability of these applications. Meter's EVM compatibility and planned interoperability with blockchains like Polkadot and Cosmos further expand its utility as a side chain for scaling and enabling value interaction across multiple networks.

Everyday Payments

MTR can be used for everyday transactions, providing a stable means of payment for goods and services. Its low volatility and decentralized nature make it suitable for purchases such as coffee, clothing, and peer-to-peer transfers.

Store of Value

In an environment where fiat currencies face devaluation, MTR offers a stable store of value. Pegged to 10 kWh of electricity, MTR maintains long-term value stability, making it a reliable alternative to traditional fiat currencies.

What is MTR?

MTR, or Meter Stable, is the unit of account and medium of exchange within the Meter network. Created using SHA256 PoW, it provides a decentralized, low-volatility cryptocurrency. MTR's value is anchored to the competitive global electricity price, ensuring stability over time. It is used for transaction payments, gas, and storage fees within the network, and can also be converted to MTRG through competitive bidding.

What is MTRG?

MTRG is the governance token of the Meter system, essential for maintaining the network’s security and governance. Holders of MTRG can stake their tokens to become PoS validators or delegate them to other validators, earning rewards in MTR. Additionally, MTRG holders participate in the governance process, voting on key decisions such as monetary policy changes, new feature implementations, and other protocol upgrades. This token ensures decentralized control and continuous improvement of the Meter network, aligning the interests of the community with the system’s growth and stability. MTRG also earns various fees from transactions and on-chain auctions.

Partners and Similar Projects

Meter's partners: Chainlink, Ankr, Energyweb, Theta, Oasis, Moonbeam...

Similar projects to Meter: Aleph Zero, Atlas Navi, Axelar, Berry, Biswap, BORA, Celestial, Constellation...

Project Development

The Meter Monthly Newsletter provides updates on the ecosystem's growth and recent developments. In March, the Sumer Points Program was introduced to boost user engagement and TVL on the Sumer and Meter networks, offering incentives and NFT rewards. Partnerships with SwapSpace, Supra Oracles, Gasdotzip, and Bunny Finance expanded Meter's capabilities, facilitating token swaps, decentralized oracles, gas fee top-ups, and cross-chain asset transfers. New DeFi platforms like Meridian Finance and Single Finance went live on the Meter Network, offering lending, borrowing, and yield farming opportunities.

Additionally, an Unreal Destiny Mini Game was launched for users. Future plans include developing a Meter-Bitcoin bridge for interoperability. Governance-wise, a proposal to release 15 million MTRG tokens for network growth was passed, focusing on user and activity expansion. AMA sessions with Single Finance and Meridian Finance provided insights into their platforms on Meter.

Meter Governance Price Analysis

As of November 24 2024 Meter Governance has a marketcap of $9.5M. This is {{percentagefromath}} from its all time high of $16.47. In terms of its tokenomics, there's a total supply of 44M with 63% currently outstanding. Keep in mind Meter Governance has a fully diluted value of $15M which many investors might interpret as overvalued.

Of course, don’t trust price predictions alone, always check the Coinrotator token screener to follow the trending market.