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Ankr partners with DeFi innovator Meter for uncensorable money

Ankr partners with DeFi innovator Meter for uncensorable money

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You’ve heard of stable coins that are pegged to fiat, but what about electricity?

Take a look at our latest partner, Meter, a Layer 1 DeFi project whose low-volatility token, MTR, has a value that is pegged to 10 kWh of electricity, a resource whose price has historically been more stable than any fiat currency.

Furthermore, the unique design of the Meter system eliminates counter party, regulatory, and oracle risks typically found with crypto- and fiat-backed coins.

Ankr will offer users the ability to deploy Meter nodes and Validators. We will also be playing a key role in Meter infrastructure by hosting foundational nodes for the network.

How is Meter different from other DeFi projects?

Besides tying value to electricity, Meter’s consensus mechanism and token economics are unique as well. Meter innovates by using a hybrid consensus model, Proof of Work (PoW) for creation of the low-volatility token MTR, and Proof of Stake (PoS) with their governance token, MTRG, for validating transactions. This makes Meter decentralized, fast, and super secure.

Meter not only offers stable purchasing power, suitable for long-term hedges and everyday transactions, but also focuses on making your money uncensorable and sound.

The project’s goal is to be a stable account of value for all DeFi apps, as volatility in exchange rates and competition with vendors selling in fiat makes transacting in crypto unfeasible.

Other differences, key mission values, and other information can be found in the Meter whitepaper.

Meter has already gained some traction recently as their public token sales were 46 times oversubscribed with 27.4M USD in commitment on July 15th, 2020.

Join the AMA!

Ankr and Meter will be hosting an AMA talking more about our node partnership with Meter in the Meter official Telegram Discussion group on Tuesday July 21st at 16:00 UTC.