Proposal Details

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. HotStuff consensus based PoS is used to manage the ledger. Validators who hold Meter’s governance token, MTRG, approve transactions. This hybrid system 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.