Meter Partners with Harmony to Bring MTR to the Harmony Protocol
Meter and Harmony will work together to deploy meta-stable coin MTR to the Harmony protocol.
We are excited to announce that we are partnering with Harmony to launch our fully-decentralized, meta-stable coin MTR on their blockchain!
Harmony is a fast and secure blockchain for decentralized applications. Their production mainnet supports 4 shards of 1000 nodes, producing blocks in 2 seconds with finality. The Harmony protocol uses an Effective Proof-of-Stake (EPoS) consensus mechanism, which reduces centralization while supporting stake delegation, reward compounding, and double-sign slashing.
Harmony is growing their DeFi ecosystem and aims to increase the range of crypto assets deployed on their protocol. By launching MTR on Harmony, we will provide a highly decentralized and stable form of collateral for DeFi apps built on their chain.
Meter and Harmony also share a similar vision of a highly interoperable, cross-chain blockchain world. So our engineering teams will explore additional interoperability projects, such as building bridges between the Harmony and Meter chains, potentially running Meter on a Harmony shard, running cross-chain liquidity mining programs, and more.
“Stablecoins are an essential part of any financial system. As Harmony actively creates a Defi ecosystem, we will be bringing more and more stablecoins on-chain, which will enable multiple use cases leading to very interesting applications for developers and users. We’re excited to be working with Meter and look forward to adding value to their ecosystem and they to ours.
- Stephen Tse, Co-Founder and CEO of Harmony
“We are impressed with what Harmony has built and are excited to work with them to bring MTR to their blockchain. We are also working on many similar cross-chain projects, and we can help each other accelerate our progress there.”
-Xiaohan Zhu, Co-Founder and CEO of Meter
About Harmony Protocol
Developers can build on Harmony today, a fast and open blockchain for decentralized applications, suited to handle DeFi and cross-border finance. Harmony Mainnet supports state sharding with instant finality. Our staking mechanism reduces centralization while supporting delegation and slashing.
We ❤️ Developers.
Meter is DeFi infrastructure with a fully-decentralized, low-volatility coin, MTR, at its core.
The Meter system uses Proof of Work to create MTR and Proof of Stake with the MTRG governance coin to validate transactions. This hybrid consensus mechanism makes Meter fast — the system can process thousands of transactions per second, reaching finality almost instantly — and super secure.
DeFi app developers can also use our highly-decentralized, HotStuff-consensus PoS chain as an EVM-compatible sidechain to increase the speed and scalability of decentralized exchanges, derivative trading platforms, yield farming programs, and other DeFi apps.
Originally published at https://www.meter.io on February 2, 2021.