There is a new kind of Stable coin around, a non-collaterized asset base like bitcoin but free of regulatory, counterparty and oracle risks!
It's called MTR metastable coin and its governance token called MTRG which is also utilized in reaching its HotStuff PoS consensus!
The Meter Network launched its Governance token IEO in lottery style on Gate.io at $0.5, the response was huge as 46x over the hardcap of $500k was raised and then refunded back to ieo participants. the tokens were then shared equally as fractions to all eager participants so no one got their ideal buy-in but everyone who contributed some MTRG.
USD Tether, no 3 in global marketshare, owns a huge 90% of all stable coins totalling 10 billion in marketcap! Like every other stablecoin out there, it is vastly centralized and the cause for much worry and doubt (esp between warring governments and institutions).
Dai, a decentralized alternative on the other hand, eats into a multimilliondollar share, but its PoS nature is also a huge cause for worry as well as its overcollaterized positions.
Now the Meter team, a distinguished team of high laurels, created the Meter token (MTR) which is a unique Proof of Work blockchain where every Meter metered out (pun intended
is worth & pegged to 10KW of power ensuring the meta-stable coin has a consistent value or purchasing power unlike usd, euros & many fiats that flunctuates with most declining in purchasing power over the years! usd is a typical bad example.
The Meter (MTR) blockchain is a stablecoin asset faster than Bitcoin and Ethereum, although the team is working on an exclusive MTRG-erc20 & MTR-erc20 bridge so MTR can be intergrated into ETH defi, and similar users and holders can have the added convienence to store MTR or MTRG in their popular erc20 wallets. More of these bridges by the team will allow for MTR PoW stablecoin to be intergated into other top blockchains like Elrond, Suterusu, + more
(NOTE: The Meter blockchain is 100x faster than Ethereum.)
The Stablecoin market is rising fast and many in traditional finance (like JP Morgan) believe it will rival/surpass Bitcoin in marketcap & we all know Bitcoin is just getting warmed up.
It is truly unique and decentralized in its proposition, tokenomics & operations.
it may very well dethrone USDT, which no other stablecoin asset (centralized or otherwise) has been able to do.
This is only the beginning of its ascent and popularity as the only PoW secure network surpassing bitcoin in speed and decentralization, and ofc Stability.
MTR on ethereum (eMTR) is already live and a bridge live to introducing eMTRG as well. This expansion into the ethereum ecosystem allows Meter to be used in eth capable defi.
The team will announce Liquidity Mining on Ethereum Meter in a few days. i highly recommend you be a part of it! Meter is the first of its kind in crypto and it is here to stay!
MTR and MTRG are both available on Gate.io
Suicide Stack : 350 mtrg
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