Key Highlights — Inscription stress load, RocketX Integration, KuCoin Trading Competition
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 network growth and providing critical support for the development of new dApps and a better experience for our users and developers.
Let us dive in for the details for the month of January.
Inscription stress load and network resiliency
Meter Network proves resilient to the heavy stress from inscription transactions
Towards the end of 2023, users found they could make inscriptions using transaction call data on Ethereum Virtual Machine (EVM)-based chains. Inscriptions represented a new trend allowing users to embed virtually any digital artifact directly into the blockchain, including images and text. This trend led to network congestion and operational disruptions on many blockchains that kept protocol developers busy mitigating the impact.
While in some cases, those disruptions were severe — fee spikes and network downtime, Meter Network cruised effortlessly through the peak load of 5 Million txs over 2 days. Inscriptions were a great stress test of our current infra and a testament to the resiliency of the Meter Network.
Read the CoinTelegraph article on Inscription impact on EVMs here. Read more about Inscriptions on Meter here.
RocketX Exchange x Meter: Cross-chain swaps made simple
RocketX offers a one-stop solution for both on-chain and crosschain swaps across multiple Centralized and Decentralized exchanges. Users can now seamlessly swap assets like $BTC, $SOL, and $ETH to $MTRG, simplifying the trading experience with speed, security, and convenience! Read details on the announcement here. Check out RocketX Exchange.
DreamX Market x Meter: Inscriptions on Meter
DreamX Market launched on Meter with full indexer support, paving the way for a unique on-chain economy. Users can mint WILL on DreamX Market for unique digital inscriptions, merging art with blockchain or create and trade digital artifacts on Meter Network. Read details on the announcement here. Check out DreamX Market!
Tigris Trades MTRG Vault live
Tigris is the harbinger of perp trading platforms on Meter Network. With MTRG vault live on Meter, users can use MTRG as collateral to engage in leveraged trading in crypto, forex, and commodities. Minimum position is 500 MTRG to trade on Tigris (5 MTRG x 100x leverage or 50 MTRG x 10x leverage). Check out Tigris at https://app.tigris.trade. Check out their documentation here. Read more about the announcement here.
HyperMove per-alpha game launch
We’re thrilled to announce the pre-alpha game launch of HyperMove on Meter Network! Users can download the game from the Elixir game launcher. HyperMove will bring rewarding daily missions, Monthly leaderboard and Tournaments with its launch on the Network. See additional information here. Check out the step-by-step guide to download the game here.
Meter Passport now supports USDC from Arbitrum
Meter Passport now supports USDC from Arbitrum to align with our phased sunset of BUSD from the ecosystem. USDC deposits from Arbitrum and withdrawals from Meter cost 0.000076 ETH (20 cents) and 1 MTR (1.05 USD) respectively. Read more about the announcement here.
Meter x KuCoin Trading Competition
We organized a special MTRG trading competition in partnership with KuCoin offering our community an exclusive opportunity to trade and win a share of a $10,000 USD MTRG prize pool. Over 1,600 users participated in the competition. Read more about the announcement here.
Governance Proposal — Ecosystem Investment into Sumer
The governance proposal on ‘MIP: Ecosystem Investment — Sumer Money’ has been posted on the forum for discussion. This proposal plans an investment of $200,000 USD worth of MTRG into Sumer Money — an ecosystem project closely associated with Meter — aimed at fostering growth and increased utility across the Meter network. Read the forum discussion here.
HotStuff 2 article featured in DAILY HODL
With HotStuff 2, Meter Network users can enjoy lightning-fast transaction confirmations similar to centralized Ethereum layer two rollups like Arbitrum, but with the added security and censorship resistance of a decentralized Layer 1! Learn more about our commitment to a decentralized, high-performance trading experience through the featured article in Daily Hodl here.
Meter Thread Contest
We organized an amazing Thread Contest for our awesome community to share their insights on DeFi, Blockchain, and Meter in a creative thread. Top 2 threads that emerged from the contest were given $50 each. Read about the contest here. The winners were announced here.
Total Value Locked
The TVL on the Meter ecosystem is $9.3 million.
Staking and Node Operation
There are currently 356 nodes on the mainnet supporting 10% APY on staking with 50% of the circulating supply staked.
Blocks and Transactions
We are around 50 million blocks on the Meter mainnet with an average latency of 1.7 seconds. Total transactions stood around 27 million.
User Wallets
The user wallets continued to grow to 324,578 wallets.
Optimal Emission Curve Upgrade Testing
We are rigorously testing changes to the emission curve on Meter Testnet. The community voted to shift to the logarithmic emission curve from current 5% emission through the governance proposal. The upgrade will also deploy changes to USDC and USDT smart contracts which will enable them to be used in gasless swap.
Gasless Swap
With a 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.
Key focus of Meter Foundation in the month of February are;
- Governance Proposal — Ecosystem Investment into Sumer
- Incentivizing Sumer Synthetic Assets on Base and Aerodrome
About Meter.io
Meter is a layer 1 blockchain with Freedom and Fairness as the first principle. It is highly decentralized, censorship resistant yet blazing fast and MEV resistant. Its native metastable gas token completes Satoshi’s vision of a sound money independent of the fiat system.
Meter Ecosystem
Explorer: Meter Scan | Bridge: Meter Passport | DEFI: Voltswap , Jioswap, Chee Finance, Sumer Money, Minimax Finance, GemPad, Optical Finance, iZUMi Finance | P2E: Business Builders, TreasureBlox, CryptoBlades, Zomland, DragonMaster, CryptoPolis | NFT Collections: MTRG SQUAD, Meter Punks, Meter Mallows, NFTBattles, Universal NFT | NFT Marketplace: NFTing, Voltswap, TofuNFT, Meter Town | Domains: MTRG Domains, WEB3 Names | Miscellaneous: Golucky.io, Meter Miner, Daily Coin Crypto, LlamaPay | Infrastructure/ Tooling: Meter Multisig, Defillama, POKT, Sourcify, C14 (Fiat on-ramp) | Oracles: Witnet, Band Protocol, Pyth
Meter official website and community
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