Meter Blockchain: Token Burn Strategy

Palo Alto, California witnessed a recent announcement from Meter, an EVM-compatible blockchain, regarding a substantial token burn involving 30 million $MTRG tokens. Endorsed by the Meter community through a transparent governance process, this token burn, scheduled for June 17, aims to fortify the long-term value and stability of the Meter ecosystem.

The strategic token burn is projected to reduce the fully diluted valuation of $MTRG by approximately 40%, elevating the market cap-to-FDV ratio to over 75%. Notably, the burn will exclusively target unreleased tokens, leaving the circulating supply and token price unaffected.

Xiaohan Zhu, Co-Founder of Meter, emphasized the commitment to the Meter ecosystem and community with this token burn approach. The decision-making process involved comprehensive forum discussions and community voting, underscoring the Meter Foundation's dedication to transparent governance and community engagement.

Post token burn, the total supply of $MTRG will align with the circulating supply of 40 million tokens, with no planned token releases except emissions for network security incentives and decentralization promotion.

In contrast to projects criticized for low float and high FDV models, Meter's strategic token burn is anticipated to enhance market stability and attract a wider investor base.

Insights into Meter Blockchain

Meter operates as a highly decentralized and censorship-resistant platform in Palo Alto, California, offering exceptional performance. Its native metastable coin embodies Satoshi's vision of sound money, promoting independence from traditional fiat systems. The blockchain hosts a myriad of decentralized applications and services, encouraging innovation and user adoption.