We are partnering with Matic to bring MTR to the Matic Network to improve the scalability and stability of the DeFi ecosystem.
We are excited to announce that we’re partnering with Matic Network to bring our low-volatility coin MTR to their network!
We have recently seen an amazing amount of innovation and activity in Ethereum’s DeFi ecosystem. But there are two primary issues with the current state of DeFi:
- Ethereum’s lack of scalability has led to very high gas fees, which has made participation extremely expensive for everyone except whales.
- The volatility of crypto assets used for liquidity and collateral in DeFi applications can lead to impermanent loss and system instability, respectively.
This partnership with Matic solves both of these problems simultaneously.
Matic is a Layer 2 scaling solution for Ethereum that achieves scale by utilizing sidechains for off-chain computation while ensuring asset security using the Plasma framework and a decentralized network of Proof-of-Stake (PoS) validators.
By deploying MTR on the Matic Network, we can provide DeFi app developers with a stable asset that can be used as collateral in various DeFi platforms in a scalable, low-cost manner while still being connected to the Ethereum network.
“Matic’s hybrid Proof-of-Stake and Plasma-enabled technology is a very smart way to scale DeFi applications. Matic shares our vision of how DeFi should work. And like us, they’ve dedicated a lot of resources to seeing this vision through. We are very excited to work together to build a more stable, scalable DeFi ecosystem.”-Xiaohan Zhu, Co-Founder and CEO of Meter
In the future, we will explore launching MTRG on the Matic Network and examine other ways to make the networks more interoperable.
Matic is the third network to which we’re building bridges. The others include Ethereum and Elrond, with many more to come.
Matic is a developer-first hybrid POS+Plasma sidechain on top of Ethereum, enabling Ethereum developers to scale their DApps for large scale usage.
Matic is rapidly becoming the go-to Layer 2 Solution for developers, thanks to secure, scalable and instant transactions, secured by Ethereum. There are 70+ Dapps building on Matic, ranging from DeFi Protocols to thrilling games and prediction markets.
Deploy your existing Ethereum Dapp in less than 15 minutes, get started with our documentation here.
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.