We will list the ERC-20 version of MTRG, eMTRG, on Uniswap on Sunday, August 9th, 17:00 UTC.

Get excited, Meterians and Ethereans = Methereans?!?! 🙂

We will list the ERC-20 version of MTRG, eMTRG, on Uniswap on Sunday, August 9th, 17:00 UTC.

We had a successful IEO on Gate.io that was 46x oversubscribed, and public sales on Cobak and Blockzone that sold out in under one minute (click here to read a summary of our prior token sales)

And we’ve had many people in our community ask when we are going to list on Uniswap. 

So here we are!

Before we get into the full details of the Uniswap listing, let’s dig into what we’re building at Meter and a few details about the Meter-Ethereum bridge.

If you’d like to jump to a specific section, click a link below:

Overview of Meter

Meter is DeFi infrastructure with a Proof-of-Work-mined low volatility coin, MTR, at its core. 

MTR is a fully-decentralized, permissionless, stable cryptocurrency that eliminates counterparty, regulatory, and oracle risks found with crypto- and fiat-backed coins.

The Meter system uses Proof of Work to create the MTR stablecoin and Proof of Stake with the MTRG governance coin to validate transactions.

DeFi app developers can use Meter as:

  1. A programmable Layer 1 infrastructure with MTR as the secure medium of exchange, or
  2. As a sidechain to other blockchains to allow value interaction across crypto assets. 

To point #2 - with Ethereum being such an important part of DeFi, it only made sense that it would be the first blockchain to which we should build a bridge. 

And that’s what we did. 

To learn more about Meter, download our whitepaper here.

Details of the Meter-Ethereum bridge

The Meter-Ethereum bridge is the first step in our plan to provide interoperability between public blockchains so they can enable the transfer of decentralized value between them.

The Ethereum contract addresses of our ERC20 tokens, eMTR and eMTRG, are as follows:

To start, our bridge will only go one way - from Meter to Ethereum. The Ethereum-to-Meter direction of the bridge will be enabled before January 2021.

Over the first 6 months after launch, the Meter-Ethereum bridge will have a limited capacity of 1.5 million eMTR and 3 million eMTRG. The bridge will allow mapping of the initial 3M MTRG to eMTRG in the following amounts:

  • 30% of current circulating supply (2.1M) = 630,000 MTRG (to be mapped by current MTRG holders on a first come, first served basis)
  • 30% of the Meter Foundation’s operations budget (4.9M) = 1.47M MTRG (already mapped for liquidity)
  • 30% of the Marketing/Community budget (3M) = 900,000 MTRG (already mapped for liquidity)

The limit of MTRG mapped to eMTRG can be eventually increased via governance. There will be no long-term limit for MTR mapped to eMTR.

If you’re a current holder of MTRG, you will be able to use the official Meter wallet to map your coins to eMTRG in a 1:1 ratio very soon. Stay tuned for more. 

This bridge will be the foundation of the upcoming Meter Liquidity Mining program (!) , where you can earn yield on the liquidity you provide. We will release details about this soon as well. 

Make sure you sign up for our email list, join our Telegram and Discord, and follow us on Twitter to receive notifications!

Full details about the Uniswap listing

The listing of eMTRG on Uniswap will begin at approximately 17:00 UTC on Sunday, August 9th, 2020.

We will seed the initial liquidity pool with around $150,000; $75,000 each of eMTRG and ETH, based on the market prices of MTRG and ETH on Gate.io at the time. This initial liquidity will come out of our Marketing/Community budget.

How to take part in the Uniswap listing

Here are the steps you will take if you would like to purchase eMTRG on Uniswap:

  1. Navigate to Uniswap from your browser. Make sure you are using V2 (see upper right corner of screen). 
  2. Click on “Connect to a wallet” in the upper right corner of the screen.
  1. Select the wallet you want to connect with. If you want to use Metamask and haven’t installed it, you can click “Install Metamask”.
  1. Log into that wallet and connect to Uniswap.
  2. Enter the amount of ETH you want to exchange for eMTRG tokens. 
  1. Click on the “Select a token” button.
  2. Paste the eMTRG contract address - 0xBd2949F67DcdC549c6Ebe98696449Fa79D988A9F - into the search field then click on “eMTRG”. 
  1. A Token Safety Alert warning will appear on your screen. Uniswap provides these types of warnings for any newly-listed tokens. Click “I Understand”.
  2. Uniswap will auto-fill the amount of eMTRG tokens you will receive for the amount of ETH you entered. 
  3. Click on the “Swap” button.
  4. Confirm your transaction.

After the transaction is executed, your ETH funds will be deducted from your account, you will receive your eMTRG tokens, and you’ll be able to view your transaction on Etherscan or your preferred Ethereum block explorer. 

Conclusion

A Uniswap listing has been requested by many of our community members, so we are excited to list eMTRG.

Our vision of stable value transfer between public blockchains is coming to fruition, and this is just the beginning. 

We hope that you can take part in the Uniswap listing and eventually, the liquidity program. 

Welcome to the Metherian community!

We hope you liked this article! If you did, please share it with the share buttons on your left so others can discover it. 

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