What is Meter Governance (MTR) | What is Meter Governance token

In this article, we’ll discuss information about the Meter Governance project and MTRG token

DeFi Infrastructure with Uncensorable, Sound Money

Meter is DeFi infrastructure with a built-in metastable currency. Meter can be used as a highly decentralized, high performance side chain to Ethereum and interconnect with other blockchains.

Why Meter is Better Money

Meter is a Layer 1, permissionless, low-volatility currency without collateral, oracle, or regulatory risk.

Fully Decentralized

Anyone can create Meter through Proof-of-Work mining, but no one can manipulate it. Thus it avoids counterparty and regulatory risk.

No Collateral Needed

Collateral is not necessary to create Meter, making it immune to smart contract, collateral volatility, and oracle risk.

Fast and Scalable

Meter processes thousands of transactions per second with HotStuff consensus so transactions are confirmed almost instantly.

How Meter Works

Meter uses an innovative economic and consensus design that separates currency creation (Proof of Work) with record keeping (Proof of Stake). Its value is supported by the price of 10 kWh of electricity, which is more stable in purchasing power than any fiat currency in the world.

How Meter Can Be Used

Everyday Payments

Meter can be used for everyday purchases and payments, such as for your cup of coffee, a new shirt, or payments to friends and family across the world.

Store of Value

While governments are devaluing their currencies with continuous printing, Meter maintains its long-term value so you can protect your hard-earned money.

Decentralized Finance App Development

Meter is a programmable Layer 1 infrastructure that can be used as secure medium of exchange for DeFi apps, or as a sidechain for other blockchains to allow value interaction across crypto assets.

The Economics of Meter

The Metastable Currency - MTR

MTR is a low-volatility token that is created via Proof-of-Work mining and is worth 10Kwh of electricity in equilibrium. MTR can be used to compete for newly emitted MTRG on chain. eMTR is the wrapped MTR on Ethereum

The Governance Token - MTRG

MTRG is used to validate transactions via Proof of Stake HotStuff BFT consensus and participate in the governance of the Meter network. eMTRG is the wrapped MTRG on Ethereum

MTR - The Metastable Coin

What is MTR?

Meter Stable (MTR) is the unit of account and medium of exchange of the Meter network. It is a fully-decentralized, permissionless, low-volatility cryptocurrency that is created using SHA256 Proof of Work, the same method used by Bitcoin.

Meter uses the cost of production and the PoW miners’ arbitraging behavior to establish a long-term equilibrium price for the market. This equilibrium price essentially anchors MTR to the global competition of electricity prices, which is more stable in real value than any fiat currency, based on historical data (from 1960 to now electricity price went up 6.3x when measured by USD, but stayed the same after adjusted by inflations).

US Electricity Price Measured by USD vs Adjust for Inflations

The supply of MTR is uncapped. Miners will expand the supply when there is more demand for MTR based on usage and the internal MTRG auction process will continuously remove MTR from circulation. This makes the value of MTR neither deflationary or inflationary in the long run.

What is MTR used for?

Externally, MTR can be used to make everyday payments and as a store of value.

In the Meter network, MTR is used to pay transaction, gas, and storage fees to PoS validators who approve transactions.

Additionally, MTR can be converted to MTRG through a competitive bidding process. In Bitcoin, the miners directly use their hash power to compete for the newly created Bitcoins. In Meter, the miners first convert their hash power into mining credits (MTR) and use MTR to compete for MTRG. Please refer to the "On-Chain Auctions” section for more information.

How is Meter different than other stablecoins?

Meter solves many of the issues that existing stablecoins face.

Fiat-backed stablecoins like USDT and USDC are centralized and thus are subject to regulatory restrictions.

Crypto-backed stablecoins like DAI first have capacity issues. The cryptocurrency used as collaterals could only be a small percentage of the its circulation to avoid avalanche crashes during the liquidation scenarios. They also have to rely on oracles which are typically centralized (there are only limited sources of high quality data). If the oracle provides wrong data (could be as simple as a software/hardware glitch), the entire financial system may fail. This maybe too much of systematic risk for the most fundamental building blocks of a financial system.

Meter’s full decentralization and permissionless nature is designed to avoid such systematic risks. It gives up strong pegging to USD, but maintains a long term purchasing power stable value and eliminates counter-party, regulatory, and oracle risks typically found with crypto- and fiat-backed stablecoins.

How does MTR maintain stability?

Each MTR is created with 10 kWh of electricity using SHA256 Proof of Work, the same method used by BTC.

Miners’ profit chasing behavior will drive the coin to the cost of global competitive electricity price, which is more stable in purchasing power than any fiat currency in the world. When the price of MTR goes up, miners, who are profit-driven, will allocate more of their mining equipment to mining MTR; when the price of MTR decreases, they will point their mining equipment to other PoW chains.

Their actions will cause the Meter block reward to elastically change in response, which will bring the price of MTR back to its equilibrium or competitive state.

In Bitcoin, miners use hash power to directly bid on newly created BTC. The block reward is constant, but the price is not. In Meter, miners convert their hash power to mine MTR, where the price is constant but block rewards are variable based on total network hash power.

We expect the long term sustainable market equilibrium to be in the 0.6 to 1.25 USD range for MTR to be continuously created. Once the MTRG on-chain auction starts, even the MTR price drops, the auction consumptions will remove any surplus MTR from circulation and bring the price to the sustainable range. The system it will be more stable as it grows.

Meter has a reserve mechanism to account for larger price fluctuations.

MTRG - Meter Governance Coin

What is MT RG and what is it used for?

MTRG is the governance token of the Meter system. Holders of MTRG can perform the following actions:

Stake MTRG tokens directly as a PoS validator or delegate to other PoS validators to approve transactions and earn MTR.
Earn various fees paid in MTR from the on-chain auction and on-chain/cross-chain transactions.
Stake MTRG tokens in future DeFi apps created by the Meter team.
Participate in governance of the Meter system.

MTRG holders will be able to vote on major changes to monetary policy, MTR production parameters, new feature additions, and other governance-related issues

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How and Where to Buy Meter Governance (MTR) ?

MTR has been listed on a number of crypto exchanges, unlike other main cryptocurrencies, it cannot be directly purchased with fiats money. However, You can still easily buy this coin by first buying Bitcoin, ETH, USDT from any large exchanges and then transfer to the exchange that offers to trade this coin, in this guide article we will walk you through in detail the steps to buy MTR

You will have to first buy one of the major cryptocurrencies, usually either Bitcoin (BTC), Ethereum (ETH), Tether (USDT)…

We will use Binance Exchange here as it is one of the largest crypto exchanges that accept fiat deposits.

Binance is a popular cryptocurrency exchange which was started in China but then moved their headquarters to the crypto-friendly Island of Malta in the EU. Binance is popular for its crypto to crypto exchange services. Binance exploded onto the scene in the mania of 2017 and has since gone on to become the top crypto exchange in the world.

Once you finished the KYC process. You will be asked to add a payment method. Here you can either choose to provide a credit/debit card or use a bank transfer, and buy one of the major cryptocurrencies, usually either Bitcoin (BTC), Ethereum (ETH), Tether (USDT)

☞ SIGN UP ON BINANCE

Step by Step Guide : What is Binance | How to Create an account on Binance (Updated 2021)

Next step - Transfer your cryptos to an Altcoin Exchange

Since MTR is an altcoin we need to transfer our coins to an exchange that MTR can be traded. Below is a list of exchanges that offers to trade MTR in various market pairs, head to their websites and register for an account.

Once finished you will then need to make a BTC/ETH/USDT deposit to the exchange from Binance depending on the available market pairs. After the deposit is confirmed you may then purchase MTR from the exchange: Gate.io, Hoo, MXC.COM, and Bilaxy

Apart from the exchange(s) above, there are a few popular crypto exchanges where they have decent daily trading volumes and a huge user base. This will ensure you will be able to sell your coins at any time and the fees will usually be lower. It is suggested that you also register on these exchanges since once MTR gets listed there it will attract a large amount of trading volumes from the users there, that means you will be having some great trading opportunities!

Top exchanges for token-coin trading. Follow instructions and make unlimited money

☞ https://www.binance.com
☞ https://www.bittrex.com
☞ https://www.poloniex.com
☞ https://www.bitfinex.com
☞ https://www.huobi.com
☞ https://www.mxc.ai
☞ https://www.probit.com
☞ https://www.gate.io
☞ https://www.coinbase.com

Find more information MTR

☞ Website ☞ Announcement ☞ Explorer ☞ Source Code ☞ Social Channel
☞ Message Board ☞ Documentation ☞ Coinmarketcap

🔺DISCLAIMER: Trading Cryptocurrency is VERY risky. Make sure that you understand these risks if you are a beginner. The Information in the post is my OPINION and not financial advice. You are responsible for what you do with your funds

Learn about Cryptocurrency in this article ☞ What You Should Know Before Investing in Cryptocurrency - For Beginner

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Wallet address:
BTC: 1FnYrvnEmov2w9fovbDQ4vX8U2dhrEc29c
USDT: 0xfee027e0acfa386809eca0276dab286900d75ad7
DOGE: DSsLMmGTwCnJ48toEyYmEF4gr2VXTa5LiZ

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#bitcoin #blockchain #meter governance #mtrg

What is Meter Governance (MTR) | What is Meter Governance token | What is MTR coin