We held two AMAs with Tixl to talk about our partnership to collaborate on cross-chain interoperability. We covered topics such as:

  1. Background of both Meter and Tixl.
  2. Why we’re working together to accelerate the development of cross-chain bridges.
  3. How the partnership will benefit both projects.
  4. More!

Check out the transcripts for each AMA below. 

Meter AMA in Tixl’s Group 

Meter CEO Xiaohan Zhu answered questions in Tixl’s Telegram community on Wednesday, October 21. 

Intro Questions

Q: Please provide some info about your background and how you got into crypto

Xiaohan | Meter.io:

This is Xiaohan from the Silicon Valley.  I have a mixed engineering and finance background. The first 15 years of my career were in R&D and engineering. Afterwards I got my MBA from Wharton and started doing strategy and investments. Back in 2016 I formed a VC fund called ZMT Capital. In 2017 many of our portfolio started launching tokens include Brave (BAT) and Aion. We started investing in cryptos as well. In 2018 I finished the first fund and decided that I enjoyed BUIDL more. That is when I started working on Meter. Right now I am 100% focused on Meter.io

Q: Can you give us an overview of what Meter is and the value it provides?

Xiaohan | Meter.io:

Meter is a DeFi infrastructure with a Built-in PoW based low volatility coin.  It employs a unique hybrid consensus protocol that separates currency creation from record keeping.

The system uses Proof of Work to create the $MTR low volatility coin, making it as decentralized as Bitcoin. It uses HotStuff based PoS consensus with $MTRG governance coin to manage the ledger. We are trying to achieve 3 things with Meter’s DeFi infrastructure: 

  1. Complete Bitcoin’s original vision and create a metastable sound money independent of the fiat system.  
  2. Address the performance issues for ETH with a Hybrid PoW/PoS + HotStuff consensus that is backward compatible with EVM. 
  3. Interconnect with other public chains like ETH and run as a side chain for other public chains

This is a high level of what Meter is doing.

Q: Thanks for the insight! There's a lot of work going into it - and like us, you're building bridges to other blockchains. What is your vision for cross-chain interoperability and why is Meter well-positioned in this space?

Xiaohan | Meter.io:

At Meter, we believe it makes more sense for assets to be freely exchangeable to bringing the biggest value for the entire system.  Right now ETH is the center of the Universe for DeFi, however, there are so many crypto assets that are left out, especially many of the PoW coins.  

We would like to provide a way to interconnect with different crypto assets and provide a highly decentralized censorship resistant infrastructure to support them.  That is why we would like to have Meter interconnect with other layer 1 protocols as layer 2 to make it easier for the transition.  

Meter is also Ethereum compatible. Users will soon be able to connect their ETH wallets like Metamask to Meter and all existing dApps can directly run on Meter without changes. We have already built a Meter mainnet bridge to Ethereum and mapped some of our governance tokens MTRG to ETH for participation on the ETH DeFi ecosystem. 

We are also launching some of the application level DeFi infrastructure.  For example we are launching a multi oracle driven AMM and will migrate it to cross chain AMM in the next few weeks. More DeFi applications are in the pipeline as well. That is our current plan.

Q: When doing some research we also saw that you're building a decentralized exchange. Can you tell us more about that?

Xiaohan | Meter.io:

Most of today’s AMMs, including Uniswap, Balancer, and many others, operate on a constant product market maker (CPMM) model, which means if you provide liquidity for the swap, you will provide the 50% of the value in ETH, and another 50% in USDT for example.  The swap will assume the multiplication of the number of ETH and USDT is a fixed constant and have arbitrageurs to constantly trading with the swap to maintain the 50/50 balance.

Meter’s smart AMM however uses price information from ChainLink and trading/depth information from uniswap to guide the AMM’s market quote and bounding curve instead of assuming everything in completely mechanical fashion.  This allows two things: 

  1. The liquidity providers no longer have to provide liquidity in two tokens, they could provide just ETH or USDT, which help them to tailor their exposure 
  2. When the market changes dramatically between CEX and DEX, we could reduce the pool's risk exposure and losses for the liquidity providers. 

Q: Regarding our partnership, how will this work and what benefits will it bring to each of our projects?

Xiaohan | Meter.io:

First, we share a lot of common vision between Tixl and Meter.  Both teams also have deep technology backgrounds.  We will collaborate on both the tech and business front.  On the tech front, the first thing we will work on together is cross chain bridge implementation and research.  On the business side, we like Tixl’s privacy and BTC integrations and would like to have our asset $MTRG and $MTR flow to Tixl as well

Community Questions

Q: What is your current plan to build more demand for mtrg? And that the price wise it could recover, to build/awareness confidence for the project?

Xiaohan | Meter.io:

As mentioned earlier, we plan to build and work with other projects to build DeFi applications on top of Meter’s DeFi infrastructure.  The smart AMM collaboration with chadswap that is launching next week is just the first example.  There are more in the pipeline.  As MTRG token holders, you will benefit from these works both directly through liquidity mining for example, but also more applications on the infrastructure brings up value for the infra as well

Of course more direct methods like more exchange listings and etc are also in works

Q: Out of all the Silicon Valley firms why did Tixl pick you up. Or was it the other way around?

Xiaohan | Meter.io:

I could answer the 2nd half I guess.  First we like Tixl because of the German engineering. We like Tixl founders’ detailed oriented no bullshit technical skills.  We would like to build partnerships in Europe and Germany and Tixl is the right fit.  We also share common investors on the secondary market, who introduced the two teams.

Q: To add some more questions from my side, can you tell us more about Meter's hybrid consensus mechanism?

Xiaohan | Meter.io:

Meter actually has a dual chain architecture.  PoW is working on economic consensus to mine the metastable coin $MTR only. It solves crypto puzzles and submits the result to the PoS chain where all the transactions and accounts are recorded on.  We use HotStuff consensus amount $MTRG validators to validate all transactions and issue $MTR mining rewards to the PoW miners.  Newly emitted $MTRG is distributed through on-chain auctions with $MTR, 40% of the collected $MTR from auction distributed to the validators as block reward and the rest saved in the system.  In the future $MTRG token holders could borrow against them for DeFi applications

Q: When will you lunch dex exchange chadswap?

Xiaohan | Meter.io:

Staking Uniswap LP shares next week and smart AMM launch about 3 weeks after that

Q: So what exactly makes $MTR better than other stablecoins and why is it important for DeFi?

Xiaohan | Meter.io:

All the stablecoins so far are pegged coins actually, especially to the USD. Based on finance theory only USD backed stablecoins could maintain pegging to USD at scale. Unfortunately they will have to be centralized solutions and subject to all the regulatory restrictions. At the end of the day, it is the central banks’ job to create such coins.

Crypto-backed stablecoins like DAI first have capacity issues as it could only use a very small portion of the backing assets as collaterals to avoid causing liquidity problems of the backing assets. It also has to rely on oracles, which is typically centralized (there are just a handful of good data sources in the world). If oracles provide wrong data, the entire financial system is subject to fail. This may be too much of a systematic risk.

Meter is designed to avoid such systematic risks. It gives up strong pegging to USD, but could maintain an economically stable value. Each MTR is created with 10kwh of SHA256 Proof of Work, the same method used by BTC. Miners’ profit chasing behavior will drive the coin to the cost of global competitive electricity price, which is more stable in purchasing power than any fiat in the world. Permissionless mining also eliminates counterparty, regulatory, and oracle risks typically found with crypto- and fiat-backed stablecoins.  It will become more and more stable as it grows.

Q: Little off topic but since I hold Tixl and Meter Governance Tokens; have you considered participating with PowerPool to bring value and consolidation of voting to your governance tokens?

Xiaohan | Meter.io:

We are actually looking at how to run governance right now.  Will definitely look into powerpool.  Thanks a lot for the suggestions.

Tixl AMA in Meter’s Group

Tixl co-founders Christian Eichinger and Sebastian Gronewold answered questions in Meter’s Telegram group on Thursday, October 22. 

Intro Questions

Q: Sebastian and Christian, please introduce yourselves.

Christian | Tixl Founder:

Hi guys, I'm Christian from Hamburg/Germany and I'm the co-founder of Tixl.

I came in contact with Bitcoin for the first time in 2012, but at that time I did not yet recognize the bright future of Crypto. In Q1/2017 I bought my first ETHs, which I have hodl until today despite the big price movements in 2017 and 2018.

I am a passionate software engineer, and in 2018 we started to develop the Tixl concept. To do this, we took a look at existing solutions and analyzed which technical decisions were great and which were not so good to achieve mass adoption. 🚀

Sebastian | Tixl Founder:

I'm Sebastian, same as Christian, I am also a software engineer and love coding 😻 Together with Christian, I started Tixl in 2018 to compete in the race for layer 1 platforms in the DeFi space.

Q: Can you tell us more about Tixl and how it all got started?

Sebastian | Tixl Founder:

Sure. Since we wanted to operate from Germany from the beginning of the project, we first had to make some legal preparations before we could launch our website (https://tixl.me) early 2019. 

Tixl's goal from the very beginning was to create a platform that is perfectly tailored to the transfer of digital assets. For us this means very fast transactions and almost no fees. In addition, we have a concept to fully implement privacy and will implement it within the regulatory framework. 

Today's crypto projects do not offer the exact similar digital solution yet. A number of different concepts for improving Bitcoin and the transfer of digital assets, in general, have been developed, with the ultimate goal of achieving fast and cheap transactions, or to provide privacy. Tixl aims and aims to provide a perfect combination of them all.

This year we decided to open our technology for other assets as well and become an interoperable DeFi platform providing these Tixl features for Bitcoin and Ethereum assets too.

And also - most importantly of course 😉 - for $MTR 😏

Q: On a more personal level, how did you two get together as co-founders and agree on Tixl's mission?

Sebastian | Tixl Founder:

Haha that's a funny story, Christian and I met in 2009 where we both started to study. Christian was a way better coder than me back when we started 🙈 But then I started to learn every day and then later I had to help Christian in one exam.

Then we founded a software development company together in 2015 which was also the base for Tixl.

Q: In summary, what is Tixl’s unique selling proposition and how do you differentiate from the other chains?

Christian | Tixl Founder:

Tixl uses a DAG as data structure and a very efficient consensus called "Stellar Consensus Protocol (SCP)". This results in very fast transactions at almost zero-fees. Plus Tixl can provide interoperability using gateways to interact with other networks and offers a solution for privacy. A very important aspect for us is that the managed assets are really 100% decentralized.

Q: Got it. You mentioned bridges to BTC, ETH, and of course Meter. Any others you're working on right now (if you can disclose)?

Christian | Tixl Founder:

Since our token was issued on Binance Chain in the first place, we are also connected with Binance Chain and will integrate them too. But we focus on BTC and ERC-20 first for the initial release by the end of this year.  And will add Meter and Binance chain afterwards as soon as possible 🙂

Mike Chan | Meter.io:

Oh, interesting! Didn't know about Binance Chain. Lots of activity going on there as well.

Christian | Tixl Founder:

Indeed. Binance Smart Chain is interesting imho because it supports the Ethereum VM fro Smart Contract deployments 👌🏼

Q: Perfect segue to my next question - what's your roadmap until the end of the year?

Christian | Tixl Founder:

It's a pleasure to share some insights into our development roadmap until the end of the year. A major milestone on our roadmap will be the first  version of our Autobahn Network connected with the Bitcoin Mainnet. Plus we already started with the development of the Tixl Exchange. It's a Swap DEX like Uniswap but with some additional sugar (special features). The first version will be built on top of the Ethereum VM and a second version will use the full power of the underlying Tixl technology. Our plan is to launch the Exchange until the end of the year.

With Tixl Finance we will provide a next-gen data platform with all the information investors need to make decisions in one place. It will be the perfect place to start your day right into crypto! This is also part of our roadmap until the end of the year.

Q: Nice! Lots going on. How big is your team?

Christian | Tixl Founder:

We are a great mix of developers, marketing + business development specialists and some more that supports us. We have small development teams for the projects (2-4 developers each)

Mike Chan | Meter.io: 

Yeah, Jeff Bezos' "two pizza" teams - keep them small and nimble.

Christian | Tixl Founder:

Sure we think that these small teams are very productive and can achieve a lot. It's important to have someone who keeps them up to date 🙂

Q: OK, last intro question before we open it up to the community. Why did you choose Meter for your network partnership and what are your goals of working with us?

Sebastian | Tixl Founder: 

Also what we liked about Meter is the focus on payments which we are also targeting with our platform. Of course that could also be treated as competition but we rather see the chances for collaboration

Also I was really impressed by the concept of MTR and the idea of bringing stability to a token with a completely different concept. That was something which caught my eyes even before thinking about a potential partnership. I think both for our communities and also for our teams it generates value on both sides if we try to make our networks interoperable so that with the specific features our platforms have we grab a bigger slice of the payments market 💪

Mike Chan | Meter.io:

Awesome! We are excited to learn and build together.

Christian | Tixl Founder:

Let's bridge the world.

Community Questions

Q: To achieve a good performance the interoperability is absolutely necessary, so can you tell me how is possible to Tixl (TXL) have that Awesome interoperability? Which is the technology responsable of this?

Sebastian | Tixl Founder:

Interoperability with other networks shall be achieved through liquidity pools which manage outside pegged tokens. These pools are managed in a decentralized way through threshold signatures and a certain consensus mechanism. The Autobahn Network can "access" these pools and provide fast and cheap transactions in our network then. Within the Autobahn Network a mix between a DAG and a custom SCP (Stellar Consensus Protocol) implementation is used.

Q: STAKING is a very popular topic recently. Please tell us in detail about the $TXL Staking plan and the benefits of adding staking?

Sebastian | Tixl Founder:

We know that staking has become very popular for a lot of projects. At the moment, we don't want to give more tokens into the supply through staking mechanisms. However, that might change in the future. Currently we try to focus as much on development as possible and don't want to work on our tokenomics that much. Also because we just did a token split coming from 1 MTXLT -> 1,000 TXL which was a little effort.

Q: What is the goal of privacy in your vision? Will that play well with German Authorities in future?

Christian | Tixl Founder:

For privacy we have some technologies in place, like stealth chains and pedersen-commitments to hide the amounts. We’ll have to see what’s possible from a regulatory perspective, but we have the technologies and concept in place. Our goal is to enable as much privacy as possible as long as it remains legal.

Cryptic Zombie:

oh thank you. compliance is good

Q: We all talk about Positive points/Pros/Good Points & Features of any Project, no one Project tells about their Cons. So can you tell us Honestly the Cons & Lacks of  TXL Token ?

Christian | Tixl Founder:

Interesting question 👍🏼 We are a project in the early days and the token liquidity and volume is not that high compared to Top100 projects.

For example our token on uniswap has some liquidity and it's a good start but there is also potential to growth: https://info.uniswap.org/pair/0x0fdc86703c938e3e1cbc9e14f21c6bf709c13acc

Q: What is your partnership with Tixl? What is the benefit of applying cross-chain technology to 2 projects?

Christian | Tixl Founder:

With the partnership, our development teams can support each other and we all reach our goal faster.  From our point of view collaboration is better for our projects than fighting each other.

Q: Do you plan on using oracles because how possible is it to integrate a L1 DAG solution to Meter which is also L1?

Sebastian | Tixl Founder:

Yes, Oracle usage is planned and already under development.

Q: What is the main potential Threat do you see in the Blockchain Technology Currently? What is the real life problem Tixl is aiming to solve with Blockchain?

Christian | Tixl Founder:

I think the blockchain technology itself (classic blockchain, DAGs, PoW, PoS, etc) is awesome. But what I see is that the usability is not that good these days. Some people lose their private keys / mnemonic phrase and the funds are gone forever. This is a real problem for mass adoption.

Q: Another question. I hear DAG is not a blockchain but like a blockchain. Could you explain this and can u provide a link to info about tixl tokenomics?

Christian | Tixl Founder:

A blockchain is a special version of a DAG. But in general you use the term DAG if you mean a tree data-structure (or shown as lattice (e.g. Nano)) instead of a single blockchain

Sebastian | Tixl Founder:

Tixl tokenomics can be found here: https://tixl.me/tokenomics/

Q: Ethereum 2.0 is going to provide scaling solutions for Ethereum, So what role is TXL going to play in the Ethereum 2.0 ecosystem?

Sebastian | Tixl Founder:

Tixl will also be sort of a scaling solution for Ethereum. Ethereum 2 will be sort of a competitor to Tixl but we'll try to bring as many projects to our platform as possible.

Q: Can you talk more about the token split - why you did this, change in tokenomics, and any other info?

Christian | Tixl Founder:

We planned for a token split from the beginning. Early on it was planned to split by Million, hence (M) TXL. With the release on Uniswap and a price in the 100$ range already we saw a good time to split by 1,000. So the basic answer why we did it is: Price Psychology. A price of $200 looks very expensive. And a price of 0.0002 too low. A price of 0.2, however, looks very attractive. 

Nothing changed in terms of value. There will never be more than the max supply of 900,000,000 TXL. We have a detailed page for the tokenomics on https://tixl.xyz/meter (scroll down to the footer).

Q: What marketing plans have you and the Meter team worked out to move or drive products into market?

Christian | Tixl Founder:

We will start with marketing activities more and more over time with real products we released 📈

Q: Where is Tixl road map now? Are all targets in accordance with the current road map? and what are the next steps that will be taken in the future?

Christian | Tixl Founder:

I think it's a great option to position young projects in these early days in crypto 👍🏼 But it needs some time and we have to keep working hard. We are still on track.

Q: Can you give us some metrics around the speed and low fees? How fast and how cheap?

Christian | Tixl Founder:

The TXL token can be sent free of charge between users on Tixl’s Autobahn Network. For other assets there will be tiny transaction fees. BTW, there will be several services around the core platform that generate revenue for TXL. Transaction speed is solved by using the Stellar Consensus Protocol. One round should take ~5 seconds and it’s final. No need to wait for 6 confirmations.

Q: Your website mentioned something about an Astronauts Club? Can you tell us more about that? Are you working with Elon Musk to send people to Mars? 😉

Christian | Tixl Founder:

We launched the Astronaut Club as an automated tool to reward community members for spreading the word of $TXL, especially on Twitter. Our Astronauts get a nice amount of TXL every quarter for commenting, liking and other activities. One person last quarter got TXL almost worth $1,000. You can check it out here: https://tixl.me/astronauts-club/

Q: I have one last question for Christian specifically - do you have a trademark on the backwards hat? you're wearing your hat backwards in every picture, haha.

Christian | Tixl Founder:

haha I prefer it this way when I'm wearing a hat.

Sebastian | Tixl (TXL) | Founder:

Girls like him more with the hat 😄 😄

Q: Christian and Sebastian, any closing words?

Sebastian | Tixl (TXL) | Founder:

Was a pleasure to chat with your community. Looking forward to our collaboration 🙌 Thanks also to you for the moderation 💪

Christian | Tixl (TXL) | Founder:

Thank you for this great AMA 👏🏼 

To follow Tixl and our development, feel free to follow us!

Twitter: https://www.twitter.com/tixlcurrency

Telegram Group: https://t.me/tixlcurrency

Have a great day!

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