MTRG Explained
What Is Meter Governance (MTRG)?
Meter Governance (MTRG) stands as a DeFi infrastructure featuring an inherent, metastable, crypto-native currency. Positioned as a high-performance and decentralized side-chain for Ethereum and various other public chains, the platform employs Proof of Work to construct a low-volatility and fully decentralized coin for payments and expenses.
What is the History of Meter Governance (MTRG): The Meter Governance platform introduced its Meter Passport in the third quarter of 2021. In the following quarter, the platform executed a burn of MTRG coins. The first quarter of 2022 witnessed the platform proposing cost and gas optimizations, marking steps in the continuous evolution of the Meter Governance ecosystem
What are the Working Principles of Meter Governence-MTRG?
The Meter Governance structure incorporates Proof of Stake based on HotStuff, utilizing the MTRG coin for transaction validation, resulting in a fast and efficient hybrid consensus mechanism. The Meter system, according to the platform, can process thousands of trade transactions per second, achieving instant and secure finality. The innovative hybrid consensus protocol, highlighted in the whitepaper, positions MTRG as a crucial element, making the platform environmentally friendly and a hundred times faster than traditional proof-of-work-based blockchains.
What are the Function of The Meter Governance-MTRG?
The Meter Governance platform addresses two key challenges in the cryptocurrency ecosystem:
- Lack of a stable and decentralized unit of account: This is crucial for providing a stable value for DeFi applications. Native cryptocurrencies are often too volatile for regular transactions, and stablecoins, while stable, may have limitations, centralization concerns, and reliance on oracles.
- Interoperability and scaling issues: There is a need for an EVM-compatible and high-performance blockchain that can easily exchange value between different blockchains, contributing to scaling and facilitating value movement across various chains.
MTRG serves as the native and governance token of the Meter ecosystem. The token is instrumental in significant changes to the monetary policy, MTR productions, and the introduction of new elements to the primary chain, requiring voting by MTRG holders. Holders can stake MTRG tokens as Proof of Stake validators or delegate them to other PoS validators to validate transactions and earn MTR rewards. Various fees paid in MTR can be earned by holders through on-chain and cross-chain transactions. MTRG tokens can also be staked in the DeFi apps developed by the Meter platform, enabling traders to actively participate in the governance of the Meter ecosystem.
Where can I Trade MTRG Coins?
MTRG tokens can be traded on centralized crypto exchanges and decentralized exchanges. The most popular exchange to buy and trade Meter Governance is MEXC. MTRG can also be traded on coinbase.
