The Meter Monthly - February 2021

March 19, 2021

We are a relayer for the Avalance-Ethereum Bridge, relaunched our testnet, and held a bunch of AMAs!

Hello Meterians!

Welcome to the Meter Monthly for February 2021! We have lots of product updates for you!

Check out everything that has happened in the past month.

Product Updates

Meter is a relayer for the Avalanche-Ethereum Bridge

We are helping to develop and secure the Avalanche-Ethereum Bridge (AEB) as a relayer!

The AEB enables two-way transfers of tokens between the Avalance and Ethereum chains. When a user initiates a token transfer, the Meter network and other relayers compare the Avalanche and Ethereum hash data to ensure accuracy, and vote to approve the transaction. 

To read more about our role in the AEB, read this article

We’ve relaunched the Meter testnet

We've relaunched our testnet and the Warring Stakes incentivized testnet program! 

This program is very important to battle-test our testnet in preparation for the impending launch of mainnet staking and on-chain auctions.

Within one week of relaunching the testnet, we already have more than 300 validators, making it the most decentralized and highest performance layer 2 scaling solutions for Ethereum.   

We’ve updated the tokenomics for MTRG

We have made some important changes to the tokenomics for our governance token, MTRG.

The two primary changes include:

  1. 37.5% (15M) of the total tokens are removed from future releases until new synthetic and derivatives products are launched.
  2. The general emission of MTRG will be set to 5% per year. This can be changed with community governance in the future. 

Read our blog post to see all the changes we’ve made. 

Community Updates

We held a bunch of AMAs to spread the word about Meter! Here are links to the transcripts for each AMA:

Transcripts for the AMAs with Gains Associates and Gagarin communities are coming soon.

Stay tuned for more news coming up. Thanks for all your support, Meterians!

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