Question 1

What is Meter Stable (MTR)?

Accepted Answer

Meter Stable (MTR) is a stable cryptocurrency designed to function as a unit of account, medium of exchange, and store of value in the blockchain economy. Unlike most stablecoins, Meter is not pegged to any fiat currency. Instead, its value is linked to the cost of electricity, leveraging a proof-of-work (PoW) system to establish a long-term equilibrium price. This method aims to provide a stable reference value from the physical world, mitigating the volatility often seen in cryptocurrencies. Meter operates on a decentralised, permissionless public blockchain and is compatible with Ethereum and other public blockchains through cross-chain adaptors and SDKs.

Question 2

What is Meter Stable (MTR) used for?

Accepted Answer

Meter Stable (MTR) is primarily used as a stable currency within the cryptocurrency ecosystem, addressing the need for a reliable unit of account and medium of exchange. Its stable value allows decentralised applications (dApps) and their users to interact with the physical world without the complications of cryptocurrency volatility. MTR is essential for pricing goods and services within dApps, eliminating the need for dynamic pricing based on off-chain exchange rates. Additionally, MTR is used to facilitate cross-chain transactions and interactions, acting as a stable financial system for other public blockchains.

Question 3

Who created Meter Stable (MTR)?

Accepted Answer

Meter Stable (MTR) was founded by Xiaohan Zhu in 2018. The Meter blockchain went live in 2020, establishing itself as a layer-1 blockchain designed to serve as the foundation for applications built on its network, similar to Ethereum.