Meter High-performance Sidechain

Meter is an open-source blockchain platform positioned as high-performance infrastructure for Web3 applications. The network is designed to be front-running, MEV and censorship resistant while processing thousands of transactions per second with instant finality, and it supports parallel transaction processing with low and stable fees. It is EVM compatible, and the project explicitly targets Ethereum developers who want faster finality and MEV resistance for their applications.

The protocol uses a two-token design. MTR is a metastable gas currency linked to 10 kWh of energy, produced through proof-of-work mining that the project describes as converging toward a stable long-term equilibrium value and as more energy-efficient than fiat systems; its supply is uncapped, expanding through mining when demand is high and contracting through an internal MTRG auction process that removes MTR from circulation when demand is low, so that the currency is intended to be neither inflationary nor deflationary. MTRG serves as the governance token. Meter positions MTR as an alternative to centralized, regulator-dependent fiat-backed stablecoins.

The network provides user- and developer-facing components including a bridge for moving assets between multiple blockchains, a wallet for holding tokens, staking and obtaining gas, a decentralized exchange for token swaps, and a block explorer. Validators can secure the protocol with what the project describes as minimal hardware requirements and earn MTR and MTRG.

Business model

Meter operates a public, open-source blockchain whose economics revolve around its native tokens: MTR is mined and spent as gas for transaction fees and bid for MTRG, while MTRG functions as the governance token and staking asset. Validators run nodes to secure the network and earn MTR and MTRG. [0]

Network activity is paid for in MTR transaction fees; MTR is mined and is used to bid for MTRG through an internal auction process that removes MTR from circulation. [0]

Traction

The company states that more than 100 dApps have used Meter to increase performance, and it maintains an ecosystem of partners and grant recipients. [0]