Meter January Latest Progress
Highlights: Inscription pressure load, RocketX integration, KuCoin trading competitionMeterians,
Welcome to the Meter monthly progress update column, a window into 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 the detailed progress of Meter in January!
Key Highlights
Inscriptions Pressure Load and Network Resilience
It has been proven that the Meter network can withstand the immense pressure brought by inscription transactions.
At the end of 2023, users discovered they could create inscriptions using on-chain transaction call data based on the Ethereum Virtual Machine (EVM). Inscriptions represent a new trend that allows users to embed almost any digital artwork directly onto the blockchain, including images and text. This trend has led to network congestion and operational interruptions on many blockchains, keeping protocol developers busy mitigating the impacts of inscription operations.
In some cases, the consequences of these interruptions were extremely severe—fees skyrocketed and networks went down, but the Meter network easily handled a peak load of 5 million transactions within two days. Inscriptions served as a great stress test for our current infrastructure and validated the resilience of the Meter network.
You can click here to read CoinTelegraph's article on the impact of inscriptions on EVM networks, and you can click here for more information about Meter's on-chain inscriptions.
Partnership & Integrations
RocketX Exchange x Meter: Making Cross-Chain Swaps So Simple
RocketX provides a one-stop solution for on-chain and cross-chain swaps across multiple centralized and decentralized exchanges. Users can now seamlessly swap assets like $BTC, $SOL, or $ETH for $MTRG, greatly simplifying the trading experience and enhancing speed, security, and convenience! Feel free to click this link to read the announcement, and check out RocketX Exchange as well.
DreamX Market x Meter: Inscriptions on Meter
DreamX Market has launched comprehensive support for indexers on Meter, paving the way for a unique on-chain economy. Users can now mint WILL on DreamX Market as unique digital inscriptions, combining art with blockchain, or create and trade digital artworks on the Meter network. You can click here to see the detailed announcement, and feel free to check out DreamX Market!
Ecosystem
Tigris Real-Time Trading MTRG Vault
Tigris is a pioneer of perpetual trading platforms on the Meter network. With the launch of the MTRG Vault on the Meter network, users can use their MTRG as collateral to participate in leveraged trading of cryptocurrencies, forex, and commodities. The minimum trading position on Tigris is 500 MTRG (5 MTRG x 100x leverage or 50 MTRG x 10x leverage). You can click here to check out Tigris, and also view the related documentation or read more announcement information.
HyperMove per-alpha Game Launch
We are excited to announce that HyperMove has launched the per-alpha (early testing version) game on the Meter network! Users can download the game from the Elixir game launcher. HyperMove will reward users with rich daily tasks, monthly leaderboards, and tournaments upon network launch. You can click here for more information, and click here for the game download guide.
Meter Passport Now Supports USDC from Arbitrum
Meter Passport now supports USDC from the Arbitrum network in response to our gradual phase-out of BUSD in the ecosystem. The cost of depositing USDC from Arbitrum to Meter is only 0.000076 ETH (equivalent to 20 cents), while the cost for the reverse operation from Meter is 1 MTR (equivalent to $1.05). You can click here to read more announcement information.
Meter x KuCoin Trading Competition
We partnered with KuCoin to host a special MTRG trading competition, providing our community members with a unique trading opportunity to win a share of a $10,000 MTRG prize pool. Over 1,600 users participated in the competition. You can click here to read more announcement information.
Community
Governance Proposal—Investment in Sumer's Ecosystem
The "MIP: Ecosystem Investment—Sumer Money" governance proposal has been posted on the forum for discussion. This proposal plans to invest $200,000 worth of MTRG into the ecosystem project Sumer Money, which is closely related to Meter, aiming to promote the growth of the Meter network and enrich its application scenarios. You can click here to read the proposal and participate in the forum discussion.
DAILY HODL Features HotStuff 2 Article
With HotStuff 2, Meter network users can enjoy the same fast interaction experience as centralized Ethereum Rollup layer networks (such as Arbitrum), along with additional second-level transaction confirmations and the security and censorship resistance provided by a decentralized network! Click here to view DAILY HODL's feature and learn more about our commitment to decentralized and high-performance trading experiences.
Meter Themed Competition
We organized an exciting themed competition for our outstanding community, allowing community members to share their insights on DeFi, blockchain, and Meter in a creative contest. The top two themes that stand out from the competition will each receive a $50 reward. You can click here to read about the competition, and click here to see the winners' announcement.
Network Statistics
Total Value Locked on Chain
The current TVL of the Meter ecosystem is $9.3 million.
Staking and Node Operations
Currently, there are 356 nodes on the mainnet supporting a 10% APY, with 50% of the circulating supply participating in staking.
Blocks and Transactions
We have run over 50 million blocks on the Meter mainnet, with an average latency of 1.7 seconds. The total transaction volume is approximately 27 million.
User Wallets
The number of user wallets has rapidly grown to 324,578.
Platform
Best Release Curve Upgrade Testing
We are rigorously testing the release curve on the Meter testnet. After community governance proposal voting, it was decided to change the current 5% release curve to a logarithmic emission curve. This upgrade will also deploy modifications to the USDC and USDT smart contracts to make them available for gasless swaps.
Gasless Swaps
With the rapid growth of the ecosystem, CEX integration, and community, we are offering gasless swaps for new users at https://wallet.meter.io/swap. Users can now independently obtain MTR through native gas fee transactions. You can check out the related tutorial through this link.
What's in Store
In February, the Meter Foundation's focus will be on:
- Governance proposal—Investment in Sumer's ecosystem
- Incentivizing Sumer synthetic assets on Base network and Aerodrome
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
