Meter November Latest Progress

Meterians,

Welcome to the monthly update column of Meter, a window to understand the "Meter" universe and its thriving ecosystem.

At the Meter Foundation, our primary focus is to promote ecosystem growth, provide key support for the development of new dApps, and create a more developer-friendly experience.

Now, let's take a look at Meter's detailed progress in November.

Key Highlights

Sumer Money Launches on Meter Network
Unlocking DeFi Modules

We are excited to announce that Sumer Money has launched on the Meter network! As a cross-chain synthetic asset currency market protocol, Sumer supports the creation of SuTokens (synthetic assets for USD, ETH, and BTC) that can be used across all supported public chain networks.

Next, Sumer will be launching on the Arbitrum network, followed by the Base network in the coming weeks. Asset interactions between Meter and Base/Arbitrum networks will be supported by LayerZero, while interactions between Base and Arbitrum networks will be supported by Chainlink's CCIP.

Feel free to read our launch article. If you are looking for strategies related to Sumer, you can click this link to browse. Also, feel free to follow Sumer on their social media platforms for the latest project updates. You can also read our related documentation to learn more about Sumer. If you want to view our audit report, please click here.

HotStuff 2.0 Consensus Upgrade
Meter is the First Public Chain to Use HotStuff 2.0

The HotStuff 2.0 consensus has now launched on the Meter network! This will bring reduced block times (1.7 seconds) and over 30% reduction in transaction confirmation delays. This upgrade helps us provide a seamless Metamask experience comparable to centralized Rollups, meaning users can enjoy transaction speeds on par with centralized solutions while maintaining decentralization. Click here for more upgrade information.

Partnership & Integrations

Scrub Money x Meter: Welcome DeFi Platform
This collaboration paves the way for Scrub Money to expand its decentralized business and service platform, integrating Scrub invest, Scrub commerce, Scrub betting, and Scrub gaming into the Meter ecosystem. You can click here to read the detailed announcement.

NOW Nodes x Meter: Professional API Services
Through this collaboration, Meter network's RPC full nodes will be available on NOW Nodes, fully leveraging NOWNodes' powerful and reliable infrastructure to provide developers with seamless API access to Meter. You can click here to read the detailed announcement.

GraphLinq x Meter: AI-Driven Community Engagement
Meter is thrilled to partner with GraphLinq to integrate advanced blockchain automation and analytics technology into our ecosystem. GraphLinq's logical blocks will enhance developers' capabilities on the Meter network, providing IDE, engine, and marketplace solutions for monitoring and automating blockchain tasks. You can click here to read the detailed announcement.

Townstory x Meter: Next-Gen Social Simulation Game
TownStory is a next-gen social simulation game where you can build, play, and earn income in your own metaverse! This blockchain game developed by the Zynga team cleverly combines fun with earning potential. You can click here to read the detailed announcement.

LULU Markets x Meter: Web3 Gaming Ecosystem
We are excited to partner with LULU Market, a leading Web3 gaming ecosystem. LULU Markets is redefining GameFi with its unique concept of exchanging in-game items for physical goods, bridging the virtual and real worlds. You can click here to read the detailed announcement.

Ecosystem

Tigris Trades Launches on Meter Network
As a high-performance perpetual exchange, Tigris brings advanced trading features to users, providing an excellent trading experience on the Meter network! Users on the Meter network can now trade various cryptocurrencies, forex pairs, and commodities on app.tigris.trade, with leverage up to 500x. You can click here to view their documentation, and click here to read the detailed announcement.

Echooo Vaults Launch on Meter Network
The Echooo wallet now supports its vaults on the Meter network. Meter community members can upgrade their wallet security through Echooo Vault, unlocking powerful features such as account protection, multi-signature, and social recovery. You can click here to read the detailed announcement.

NOW Nodes Launch on Meter Network
Meter community members and developers can now access the powerful infrastructure of Now Nodes on the Meter chain at nownodes.io. Experience enhanced connectivity with real-time Meter RPC Full Node—stress tests show that Meter full node request speeds are super fast, averaging 0.18 seconds, with no rate limits. You can click here to read the detailed announcement.

Zomland Staking Launches on Meter Network
Staking for the ZMD token has now launched on the Meter network; you can click here to read the detailed announcement.

stMTRG and wstMTRG Now Live on CoinGecko
CoinGecko now supports stMTRG and wstMTRG tokens.

Community

Meter Space
Meter Spaces will continue to explore numerous ecosystem projects and provide them with a platform to integrate into the Meter community in a more meaningful way.

SubQuery (Episode 31)

The program is hosted by Meter community member Ara and airs every Saturday at 9:30 AM Pacific Time. Feel free to follow and subscribe to Meter Spaces on Twitter and YouTube.

Governance Proposal - Abolishing BUSD
The governance proposal "MIP------Transition Plan to Abolish BUSD from the Meter Ecosystem" has been successfully passed! You can click this link to view the relevant governance proposal.

Network Statistics

Total Value Locked on Chain

The current TVL of the Meter ecosystem is $6.1 million.

Staking and Node Operations

There are currently 336 nodes on the mainnet supporting 10% APY, with 50% of the circulating supply participating in staking.

Blocks and Transactions

We have processed over 46.5 million blocks on the Meter mainnet, with an average latency of 1.7 seconds. The total transaction volume is approximately 18 million.

User Wallets

The number of user wallets has rapidly grown to 245,132.

Platform

HotStuff Consensus Upgrade
Meter is the first public chain to implement the pipelined HotStuff 2 for its consensus. This upgrade reduces transaction confirmation delays on Meter by 30% (with confirmation times through MetaMask only taking 3-5 seconds) and significantly enhances the long-term stability of the network. After the upgrade, we released bug fixes to address high memory usage and stability issues faced by a few nodes.

What's in Store

In December, the Meter Foundation's focus will be on:

• Sumer Money launching on the Arbitrum network;
• Deploying Logarithmic Token Emission Curve in alignment with governance proposals;
• HyperMove launch.

About Meter.io

Meter is a high-performance infrastructure that allows smart contracts to interact across different blockchains. The Meter mainnet uses HotStuff consensus and is secured by 327 validator nodes from the community (scalable to thousands of nodes). Meter is also one of the most decentralized and high-performance Ethereum sidechains.

Meter Ecosystem

• MeterScan: https://scan.meter.io/
• VoltSwap: https://swap.meter.io/#/swap
• MeterPassport: https://passport.meter.io/transfer
• Sumer Money: https://app.sumer.money/

Meter Official Website and Community

• Official Website: https://www.meter.io
• Telegram: https://t.me/Meter_IO
• Twitter: https://twitter.com/Meter_IO