METER UP your Stablecoin yield

A strategy to make the most out of your stablecoins within the Meter Ecosystem.

Meter has always emphasized on decentralization. Node operators within the Meter Network are incentivized to leverage MTRG delegations from the Meter Foundation based on the governance proposals below;

1. Meter Ecosystem — Roadmap to 500 Nodes: Under this program, Meter Foundation delegates MTRG to nodes as below;

Founding Validators — 50,000 MTRG (holders on Tesla Founding Validator NFT)

Non-founding Validators — 22,500 MTRG (up to 500 nodes)

2. MIP: Incentivizing TVL and Node Operations on Meter Network

All node operators providing TVL on Meter Network can get additional MTRG delegation

Step 1: Bridging Stablecoins to Meter Network

Meter Passport enables transfer of stablecoin assets from Ethereum, BSC, Theta. New users can read details on the security audit on Medium.

The overall transfer process remains the same across;

Different source blockchains

Different asset transfers

Step 2: Adding Custom tokens to MetaMask

With wallet.meter.io, it is incredibly easy to add custom tokens on the Meter Network to your web wallets

Step 3: Getting MTR (gas) for transactions

As seen in previous tutorial, all inbound bridge transfers receive 0.3 MTR as gas fee for transactions. We suggest to swap some available stablecoin to get additional MTR (around 2 MTR) on Voltswap.finance.

Additionally, users can also perform gasless swap on wallet.meter.io. Gasless swap currently supports ETH and MTRG swaps.

Step 4: Supplying Stablecoin on Chee.Finance (for e.g. BUSD) to borrow 2000 MTRG

The important factors into consideration to build the position on Chee Finance are;

The above example utilizes safe borrowing limit of 80% against the Collateral Factor of 70% for BUSD. The Collateral Factor utilization depends on risk appetite of users. Risk Averse users should choose lower borrowing limits. Users need to carefully evaluate impact of potential liquidation while utilizing higher credit limit.

Chee Finance Mainnet Tutorial can be found here.

With the quick install script available to setup a full node, it is incredibly easy to setup a node on Meter Network. Meter Network also has one of the lowest hardware specifications required to run a node (2 vCPUs, 8 GB RAM, 160 GB Diskspace).

Setup Full Node utilizing a VPS

Setup Validator Node on Staking.meter.io

Annual earnings from Node Operation

Sensitivity analysis of MTRG price yields below results:

Above calculations assumed constant MTRG price of 2.3 USD for the sake of simplicity. The variation in the price of MTRG brings additional risks. For e.g. -the volatility in the price of MTRG, the collateral provided by the user is susceptible to liquidation. It is also important to note that as MTRG price increases, not only does the potential to get liquidated increases but also the potential node earnings.

This guide is not to be construed as financial advice. There are lot of moving parts and users are cautioned to review their position periodically.