The Meter blockchain is designed to be compatible with the Ethereum Virtual Machine (EVM), meaning that developers can use existing Ethereum tools and programming languages to build dApps on the Meter blockchain. However, unlike Ethereum, Meter uses a Proof-of-Capacity (PoC) consensus mechanism, which allows for high scalability and energy efficiency.

The Meter blockchain also includes a unique feature called “MTR staking”. It allows users to earn rewards by staking MTR tokens and participating in the network’s consensus process. The rewards are distributed in the form of newly minted MTR tokens, which incentivize network participation and provide a mechanism for token distribution.

What Are The Key Features Of Meter?

The Meter has several key features that set it apart from other blockchain protocols:

1. Proof-of-Capacity (PoC) Consensus Mechanism
   The Meter uses a PoC consensus mechanism that is designed to be energy-efficient and scalable. Furthermore, this mechanism allows users to mine blocks by proving that they have allocated storage space on their devices, rather than by solving complex mathematical equations like other consensus mechanisms. This approach helps to reduce energy consumption and improve scalability.
2. Ethereum-Compatible
   The Meter blockchain is compatible with the Ethereum Virtual Machine (EVM). This means that developers can use existing Ethereum tools and programming languages to build decentralized applications (dApps) on the Meter blockchain.
3. Decentralized Finance (DeFi) Focus
   In addition, Meter is designed to be a platform for DeFi applications, and it includes a variety of features that are specifically tailored to DeFi, such as algorithmic stablecoin (MTR), staking, and cross-chain interoperability.
4. Cross-Chain Interoperability
   The Meter is designed to be interoperable with other blockchain protocols, which means that users can transfer assets and data between different blockchains. Moreover, this interoperability is achieved through the use of bridges and other technologies that allow for cross-chain communication.
5. MTR Staking
   The Meter includes a staking mechanism that allows users to earn rewards by staking MTR tokens and participating in the network’s consensus process. The rewards are distributed in the form of newly minted MTR tokens, which incentivize network participation and provide a mechanism for token distribution.

All these features make Meter a unique and powerful blockchain protocol that is well-suited for building decentralized finance applications and other types of decentralized applications.

What Are The Products of Meter?

Meter has several products that are designed to support the development and use of its blockchain protocol.

These include:

The Meter Passport

Meter Passport is a multi-chain wallet that allows users to securely store and manage their assets across multiple blockchains. These blockchains include Meter, Ethereum, and Binance Smart Chain. Meter Passport is designed to be user-friendly and easy to use, with features such as one-click token swaps and a decentralized exchange (DEX) aggregator.

The Meter Explorer

Meter Explorer is a block explorer that allows users to view transaction histories and other data on the Meter blockchain. The explorer provides real-time data on block production, network activity, and other metrics, making it a valuable tool for developers and users.

Meter Bridge

Meter Bridge is a cross-chain bridge that allows users to transfer assets between the Meter blockchain and other blockchains. The bridge is designed to be fast and secure, and it supports a wide range of assets, including BTC, ETH, and ERC-20 tokens.

Meter Stable

Meter Stable is an algorithmic stablecoin that is pegged to the value of a basket of commodities, including gold, silver, and oil. The stablecoin is designed to be stable and reliable, with low volatility and a high level of decentralization.

Meter Governance

Meter Governance is a decentralized governance system that allows users to participate in the decision-making process for the Meter blockchain. Additionally, users can submit proposals, vote on proposals, and earn rewards for participating in governance.

Overall, these products are designed to support the development and use of the Meter blockchain and to provide users with a range of tools and services that make it easy to use and interact with the blockchain.

The Meter Token and its Use Cases

The Meter Token (MTR) is the native token of the Meter blockchain, and it serves several important use cases on the platform.

Some of the key use cases of the MTR token include:

• Staking
  Users can stake MTR tokens to participate in the network’s consensus process. They can also earn rewards for validating transactions and producing blocks. The staking mechanism also helps to secure the network and ensure its reliability and efficiency.
• Transaction Fees
  MTR tokens are also used to pay transaction fees on the Meter blockchain. These fees are used to incentivize validators to include transactions in the blockchain and to prevent spam and other forms of abuse.
• Governance
  MTR tokens are also used for decentralized governance on the Meter blockchain. Token holders can submit proposals, vote on proposals, and earn rewards for participating in the decision-making process.
• Cross-Chain Bridge Fees
  MTR tokens are used to pay for fees associated with the Meter Bridge. It also allows cross-chain asset transfers between the Meter blockchain and other blockchains.
• Algorithmic Stablecoin
  MTR tokens are used as collateral for the Meter Stable stablecoin. It is an algorithmic stablecoin pegged to the value of a basket of commodities. By holding MTR tokens, users can generate Meter Stable and use it for transactions and other purposes on the platform.

Overall, the MTR token is a key component of the Meter blockchain ecosystem, and it serves multiple important use cases, including staking, governance, and cross-chain interoperability.

Meter Governance Token

MTRG is the governance token of the Meter blockchain. It is also used to participate in the decentralized governance of the network, allowing token holders to vote on proposals and make decisions that impact the development and direction of the platform.

MTRG is a separate token from the MTR token.  This is used for staking, transaction fees, and other functions on the Meter blockchain. However, MTRG can be earned by staking MTR tokens and participating in the network’s consensus process. By staking MTR tokens, users can earn rewards in the form of newly minted MTRG tokens, which can then be used to participate in governance.

Furthermore, the MTRG token is designed to provide a mechanism for decentralized decision-making on the Meter blockchain. Through the use of MTRG, users can submit proposals for platform improvements, changes to network parameters, and other types of decisions. These proposals are then voted on by the community. Furthermore, with MTRG token holders have a proportional say in the outcome of each vote.

Overall, MTRG is an important component of the Meter blockchain ecosystem. It also provides a mechanism for decentralized governance and allows users to participate in the decision-making process for the platform.

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Meter created a simple guide on securing crypto assets on its network using Ledger to make it possible.

This tutorial will show you how to create your first Ledger Meter (MTR) account with your Ledger device and MetaMask.

• Update Ledger Live through the notification banner or download the latest version.
• Update the firmware on your Ledger Nano S / Nano S Plus / Nano X.

If you’re all set and completes updating and downloading the firmware mentioned above you can now proceed to the next step.

Install the Meter (MTR) app on your Ledger device

1. Connect and unlock your Ledger device.
2. Open Ledger Live and navigate to My Ledger.
3. If asked, allow access to My Ledger by pressing both buttons on your Ledger device simultaneously.
4. In My Ledger, select the App Catalog, search for Meter (MTR), and click Install.
   You’re done.

Next Steps

• Ledger Live does not support Meter (MTR) account yet but you can safely create your first Ledger Meter (MTR) account with MetaMask. Click here to learn more.

Meter is a DeFi infrastructure with a built-in, crypto-native, metastable currency, MTR.
It uses HotStuff-based PoS consensus with MTRG (Meter Governance Token) to manage the blockchain ledger. Meter functions as a highly-decentralized, high-performance side chain for Ethereum and other public chains.

The Meter system uses Proof of Work to create a fully-decentralized, low-volatility coin MTR for fees and payments, and HotStuff-based Proof of Stake with the MTRG governance coin to validate transactions.

This hybrid consensus mechanism makes Meter fast – the system can process thousands of transactions per second, reaching finality almost instantly – and super secure.

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Why ve (3,3)?

The primary rationale for evaluating a new design for Voltswap was to add more utility to the VOLT tokens and more engaged community governance.

ve (3,3) is a novel design that stood out for multiple reasons:

1. Value accrual for VOLT due to design focused on fees (the real yield for protocol owners) instead of TVL.
2. Community-driven incentive design based on the highly successful Curve model
3. Tested code base across multiple deployments and multiple networks (Some of the other deployments with the code base are Solidly – Fantom, Velodrome – Optimism, Dystopia – Polygon)
4. The ability of design to build an ecosystem around Voltswap – for e.g. yield optimizers

What is ve (3,3)?

The ve (3,3) is the model envisioned by Andre Cronje while developing Solidly DEX on Fantom. The idea was to drive the synergy between 2 earlier successful models – ve (vote escrowed) model by Curve and (3,3) by OHM while removing the shortcomings of both.

The ve model of curve aimed to incentivize the liquidity providers on a DEX while getting as many users involved as possible in the governance of the protocol. The model requires users to vote lock CRV and acquire veCRV.

The spirit of (3,3) – is simply “how can the community work together to maximize benefit”.

• Vesting (trading fees)
  VOLT can now be vested (locked as veNFT) to receive 100% of the trading fees from Voltswap. In the current deployment, all trading fees were received by Liquidity Providers (LPs). LPs also earned VOLT rewards from emissions. With ve(3,3), VOLT holders receive 100% trading fees for the pools they voted for in proportion to their vote. Whereas, LPs earn rewards based on the weekly VOLT emission directed to their pool by veVOLT holders.
  
• Boosting
  One of the main incentives for VOLT is the ability to boost your rewards on provided liquidity. Vote locking VOLT allows you to acquire voting power to participate in the VOTE and earn a boost of up to 2.5x on the liquidity you are providing on Voltswap. If the proportion of the users veVOLT in the Total Vote to direct emission to the pool is equal to their proportion of liquidity in the pool, the user could get the full boost.
• Voting
  Once VOLT holders vote-lock their veVOLT, they can start voting on the weekly emissions, governance proposals, and pool parameters. Every voting epoch lasts for one week, and users can vote at any time during the voting epoch. At the end of each epoch, rewards will begin to be distributed according to votes for one week.

With ve (3,3), the overall process is

1. Weekly emissions are set by the team through governance proposals.
2. VOLT holders vest the token over a chosen period (1 week to 4 years) to receive vote-escrowed VOLT (veVOLT). veVOLT received per VOLT depends on the duration of the vesting period. A longer vesting period means higher veVOLT per VOLT vested
3. veVOLT holders vote to direct the x% (90% to 100%) of VOLT emission to pools with the potential to earn the most fees
4. veVOLT vested receive (1-x)% VOLT emissions as supply expand through emission
5. veVOLT holders who vote on a particular gauge receive all protocol trading fees for that gauge, regardless they provide liquidity for the gauge. Thus the voters have an incentive to vote on the gauge that generates more fees.
6. Liquidity providers receive VOLT emissions directed to pools they deposit into

ve (3,3) deployment on Theta Network

Evaluating the available options, Meter Foundation suggests a new DEX deployment on Theta Network with its own incentive token.

The outline of the deployment suggested is below

1. Deploy ve (3,3) model on Meter Network with a window to;
   Enables users on Theta Network to move VOLT, TFUEL, and TDROP liquidity to Meter
2. Make ve (3,3) operational on Meter Mainnet
3. Extend current deployment incentives on Theta for another month until ve (3,3) deployment on Theta
4. Close Meter Passport Support for VOLT transfers between Meter and Theta
   All VOLT on Theta will be exchanged 1: 1.3 for the new DEX token
5. Deploy new ve (3,3) DEX on Theta
   Provide a window to enable users to remove liquidity from current deployment, add initial liquidity on ve (3,3), and exchange VOLT for new DEX Token
6. Add back VOLT exchanged to the supply available liquidity mining on Meter

Feel free to check and read the full details of the proposal here.

ABOUT Meter

Meter is a DeFi infrastructure with a built-in, crypto-native, metastable currency, MTR. It uses HotStuff-based PoS consensus with MTRG (Meter Governance Token) to manage the blockchain ledger. Meter functions as a highly-decentralized, high-performance side chain for Ethereum and other public chains.

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ABOUT Theta Network

Theta Network is the next-generation media and entertainment-focused blockchain. Theta infrastructure enables existing video and media platforms to drive incremental revenues and reduce content delivery CDN costs while rewarding end-users for sharing their storage and/or bandwidth on any PC, mobile, Smart TV, or IoT device.

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The post Meter To Deploy VoltSwap On Theta appeared first on Smart Liquidity Research.

Meter is a high-performance blockchain infrastructure that scales and connects the financial internet. The Layer 1 blockchain powered by its HotStuff consensus engine positions Meter as one of the most decentralized and fastest Ethereum sidechain scaling solutions.

This partnership also opens up an avenue for Civilization to further collaborate with more projects on the Meter network. Both, upcoming and deployed projects, will be able to leverage Civilization solutions and its community to develop their farming and staking platforms and manage liquidity. Its solutions have the potential to help them realize their goals of enhancing liquidity and yield optimization experience.

Furthermore, as the adoption of Meter Network continues, the synergistic collaboration between Civilization and Meter will accelerate value creation for both ecosystems.

In addition, Meter currently supports around 1500tps per EVM chain. This limitation is from EVM itself instead of consensus. Meter scales horizontally by supporting parallel chains and multiple VMs.

100% FRONT RUNNING RESISTANT

Moreover, with the underlying high-performance infrastructure design, Meter charges a minimum gas price instead of ranking transactions by gas price. Transactions are ordered by the time the network receives them and will automatically expire if they are not processed in 720 seconds.

ABOUT Civilization Fund

Civilization is the world’s first Decentralized Investment Fund: owned and managed directly by its own users. Token $CIV is the Community Investment Vehicle. Its CivTrade reached a volume of $5 million in its first month, earning $1,718 extra per trade while saving -37.5% gas versus Uniswap. The ProView upgrade achieved functional equivalence with Binance, but fully DeX / DeFi.

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ABOUT Meter

Meter is DeFi infrastructure with a built-in, crypto-native, metastable currency, MTR.
It uses HotStuff-based PoS consensus with MTRG (Meter Governance Token) to manage the blockchain ledger. Meter functions as a highly-decentralized, high-performance side chain for Ethereum and other public chains.

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Medium

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The post Civilization Partners With Meter appeared first on Smart Liquidity Research.

This partnership will bring further integrations with various dApp developers who are working under the Meter ecosystem.

Meter’s Unique Infrastructure

Meter is a high-performance layer 1 and layer 2 blockchain infrastructure that scales and connects the financial internet in a multi-chain future. Moreover, the protocol separates its built-in, crypto-native, metastable DeFi infrastructure from its governance infrastructure that uses the HotStuff-based proof of stake consensus with MTRG (Meter Governance Token) to manage the blockchain ledger.

Meter’s unique decentralized financial infrastructure is achieved through the combination of both a Proof-of-Work (PoW), via its stablecoin (MTR), and a proof of stake (PoS) governance, via its MTRG token.

Hybrid PoW/PoS Consensus

This hybrid PoW/PoS consensus that Meter describes as the Proof-of-Value (PoV) consensus, helps to alleviate the disadvantages of having a single consensus mechanism. This infrastructure clearly separates the consensus layer for bookkeeping and currency issuance.

Furthermore, the consensus of PoW is responsible for the issuance of currency through mining whilst the PoS consensus uses the HotStuff consensus protocol, a variant of the Byzantine Fault Tolerant consensus protocol, which allows the network to perform bookkeeping quickly.

In addition, Meter offers another unique feature in the stablecoin MTR, generated by PoW mining. The Meter system achieves this by primarily including the cost of electricity, the major cost for miners to validate the network, and anchoring the mining cost of the MTR stablecoin to the power consumption of mining one MTR.

This mechanism efficiently monetizes the economic behavior of miners seeking profit and stabilizes the market price of MTR as it reflects the continuously adjusting supply and demand relationship for the network.

Band Protocol is looking forward to collaborating with the many developers. Working under the Meter network. In order to enhance the developer’s experience, they also provide customization data feeds from a growing number of data sources, they are also ready to provide additional ticker requests that meet its security test in order to maintain its record of delivering reliable data to its partners.

ABOUT Meter

Meter.io is a highly decentralize Ethereum scaling solution with a built-in metastable gas currency. It connects to Ethereum and other blockchains as a layer-two protocol. It also allows smart contracts to scale and communicate seamlessly through heterogeneous blockchain networks.

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ABOUT Band Protocol

Band Protocol is a cross-chain data oracle platform with the aspiration to build high-quality suites of web3 development products. The flagship oracle solution aggregates and connects real-world data and APIs to smart contracts. It also enables smart contract applications such as DeFi, prediction markets, and games build on-chain. Without relying on the single point of failure of a centralized oracle. Band Protocol is backed by a strong network of stakeholders. It includes Sequoia Capital, one of the top venture capital firms in the world, and the leading cryptocurrency exchange, Binance.

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SOURCE

Medium

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