Highlights — New Database Structure and On the fly Pruning for Validators, Partnership with Minimax and more

Published in

Meter.io

5 min readDec 7, 2022

Meterians,

Welcome to the Meter Monthly Newsletter, a window to the ‘Meter’verse and its thriving ecosystem. At Meter Foundation, our primary focus is on fostering growth and providing critical support for the development of new dApps and a better experience for developers.

We invite you to read on for a detailed look at what we have been working on in the month of November.

New Database structure and on the fly pruning is now live for Meter Validators!

Reduced disk space for archive node from current 110 GB to 40 GB on the fly
Only full nodes providing RPC data need full data
One of the lowest validators specification to run a node — 2 Core, 8 GB RAM, 100 GB disk space
Future release to provide a flag which enables Node Operators determine the historical data maintained by the node

MIP: Incentivizing TVL and Node Operations through Meter Foundation Node Delegation

Step to incorporate additional Meter Foundation Delegation to Validators (over and above Meter Ecosystem — Roadmap to 500 Nodes) based on their TVL contribution to the Meter Ecosystem
Users can calculate the potential MTRG delegation for their node by using the Calculator provided
Read more about the proposal on forum.meter.io here

Minimax x Meter

Minimax Finance is an interactive web3 marketplace that provides a unified interface for users to easily monitor and manage their Web3 portfolio, and at the same to utilize multiple web3 platforms, without having to switch between different apps and blockchains.

Minimax Finance will provide multiple opportunities for staking, yield farming and lending on Meter for multichain users while also providing the ability to place limit order on Meter DEXes.

Eggheads x Meter

Eggheads is a Learn2Earn platform where the meter community can play minigames and quizzes learning about Blockchain, Web3, and cryptocurrency ecosystem.

Golucky relaunch goes live

Opportunity to participate in daily raffles with as low as 0.1 MTRG/ 5 VOLT and chance to win over 8 MTRG/ 350 VOLT (average over last month)
November also concluded the first monthly raffle where winner took away 72.5 MTRG and 3262 VOLT
Will introduce FTB daily raffle and game soon

Liquid Staking under development

Liquid staking will provide an opportunity to Meter community to improve their capital efficiency by investing staked tokens in DeFI platforms
It comes with a smart contract interface that will allow users to both stake and unstake their MTRG

Voltswap ve(3,3) launch on Theta

The ve(3,3) launch on Theta is in final stage of testing
Theta implementation will allow Theta users to swap current VOLT to TVOLT (1:1.3) and help bootstrap initial liquidity

Chee.Finance x Meter Node Operations

An interesting interest rate strategy can be deployed by the community to leverage the higher potential yield from Node Operations by supplying stablecoins to Chee.Finance
With low MTRG borrowing costs on Chee (0.14%), borrowing MTRG at current price and running a node can provide up to 8.9% APR on stablecoin assets
Details of the strategy can be found on Medium

Meter Spaces

Meter spaces continued to take a deep-dive into numerous ecosystem projects and provide them a platform to reach the Meter Community in a meaningful way.

DxSale (Episode 16)

Understanding Market Developments with Xiaohan (Episode 17)

The show is hosted by Ara, a Meter community member weekly at 9:30 AM Pacific Time Saturday. Follow and Subscribe Meter Spaces on Twitter and YouTube.

AMA with Horizon DeFI Podcast

Community can tune in to the Horizon Podcast and share across social channels as a great way to introduce new users to the Meter ecosystem

Total Value Locked: The TVL on the Meter ecosystem is $2.8 million currently on Voltswap and Chee Finance. Our primary focus in the coming months remains to onboard DApps that bring more TVL and user base to the Meter ecosystem.

Staking and Node Operation: There are currently 280 nodes on the mainnet supporting 10.4% APY on staking with 47.82% of the circulating supply staked.

Blocks and Transactions: We have surpassed over 31 million blocks on the Meter mainnet with an average latency of 2.4 seconds. Total transactions stood around 10 million.

User Wallets: The user wallets continued to grow to 8727 wallets.

Gasless Swap: With growing ecosystem, CEX integrations and community, we introduced gasless swap for new users on https://wallet.meter.io/swap. Users can now get MTR for native gas transactions independently. A tutorial can be found on Meter docs.

MTRG Burn: Another month, another burn of transaction fees. We have now burned an overall of 11733 MTRG through our burn program.

Key focus of Meter Foundation in the month of December are;

Voltswap Theta Implementation
Voltswap NFT Marketplace
Sumer Beta Launch
P2E Game Launch

About Meter.io

Meter is DeFi infrastructure with a built-in, crypto-native, metastable currency, $MTR. It uses HotStuff-based PoS consensus with $MTRG, the Meter governance token, to manage the blockchain ledger. Meter functions as a highly decentralized, high-performance side chain for Ethereum and other public chains.

Meter Ecosystem:

Meter official website and community

Highlights — New Database Structure and On the fly Pruning for Validators, Partnership with Minimax and more

About Meter.io

Meter Ecosystem:

Meter official website and community

Written by Surajsinh Gaikwad