Gate.io Launches Meter (MTR) Trading Service

Announcements Gate.io Launches Meter (MTR) Trading Service

2020-08-08 05:29:24 UTC 87738 Read

Gate.io launched a new Startup project with Meter (MTRG) at 4:00 AM GMT on July 15th, 2020. Within two hours, there were a total of 2,272 participants, with a total of about $27.4 million USD worth of orders placed. Based on the Gate.io Startup listing rules, Meter (MTRG) was listed on Gate.io on July 17th (see more details at https://www.gate.io/article/17625). As MTRG has been performing well following its successful launch on Gate.io, we decides to enable the trading of MTR, a low volatility coin of Meter, at 6:00 AM GMT, August 8th, 2020.

Introduction to Meter

1. Project Introduction

Meter is a DeFi infrastructure with a Built-in PoW based stablecoin. It strives to solve the following problems in decentralized finance:
1. Lack of a crypto-native stablecoin without counterparty, oracle and regulatory risks.
2. Slow performance and long confirmation times.
3. Most current DeFi apps are built on Ethereum, which makes it difficult for non-Ethereum assets to develop DeFi applications.

Meter employs a unique hybrid consensus protocol that separates currency creation from record keeping. Meter leverages PoW to create a fully-decentralized, low-volatility cryptocurrency that eliminates counterparty, regulatory, and oracle risks typically found with fiat- and crypto-collateralized stablecoins. PoS is used to manage the ledger; validators who hold Meter’s governance token, MTRG, approve transactions. This hybrid can process thousands of transactions per second, allowing transactions to reach finality in seconds.Meter also functions as a Layer 2 sidechain for other public blockchains to allow value interaction among different crypto assets.

2. Token Information
MTR is a low volatility coin created by SHA256 PoW mining. It takes average 10Kwh of electricity for main stream BTC miners to create each MTR. MTR is needed in the Meter for paying all transactions fees and gas. In the future, MTR holders could also bid for newly created Meter Goverannce Coin MTRG in the Meter blockchain. There is no premine or capacilty limitation for MTR. Miners will only create MTR when it economically more profitable than mining BTC.
(1) Token symbol: MTR
(2) Total supply: non-capped, estimated at100,000 MTR to date
(3) Token allocation & release: no premine; mining cost is 10 kWh of electricity
(4) Price: around $0.65 USDT

3. Deposit MTR at: https://www.gate.io/myaccount/deposit/MTR

* Please note that MTR is a low volatility coin of the Meter blockchain, with a price at around $0.65 USDT. Investors should do their own research before making an investment.

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Gate.io
August 8, 2020

Introduction to Meter

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