• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Meter Network Token Burn Impact

user avatar

by Giorgi Kostiuk

2 years ago


The Meter network, a high-performance, single-state, EVM-compatible blockchain based in Palo Alto, California, recently unveiled a major initiative – a token burn of 30 million $MTRG tokens. This significant move, sanctioned by the Meter community via a transparent governance process, is designed to fortify the long-term value and stability of the Meter ecosystem.

Scheduled for June 17, the token burn will slash the fully diluted valuation (FDV) of $MTRG by approximately 40%, effectively boosting the market cap-to-FDV ratio to over 75%. Notably, this burn will target unreleased tokens, ensuring that it won't impact the circulating supply or the token price.

Xiaohan Zhu, the Co-Founder of Meter, highlighted the commitment to the Meter ecosystem and community through this token burn. Zhu emphasized that reducing the total supply of $MTRG will establish a more resilient and valuable network for all ecosystem participants.

This strategic decision came about after extensive discussions in forums and a subsequent vote by community members and token-holders. It underscores the Meter Foundation's unwavering dedication to transparent governance and active community participation.

Following the token burn, the total supply of the Meter Network's native token will be aligned with the current circulating supply of 40 million. There are no plans for further token releases, except for emissions to incentivize network security and foster decentralization.

In contrast to the criticism faced by projects with low float and high FDV models in the crypto community, Meter's token burn could potentially make the ecosystem more appealing to a broader array of investors by promoting increased market stability.

About Meter Network

Meter operates as an open-source platform that prioritizes Freedom and Fairness as fundamental principles. The platform is highly decentralized, resistant to censorship and MEV, and boasts fast transaction speeds. Its native metastable coin embodies Satoshi's vision of a stable currency independent of traditional fiat systems. Projects on Meter's high-performance blockchain span exchanges, wallets, bridges, oracles, games, and various decentralized applications and services.

Contact:

  • Alo
  • info@meter.io

Disclaimer: This is a paid press release. CoinMarketCap does not recommend investing in any cryptocurrency without conducting thorough research and seeking financial advice.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

Germany's Trade Deficit with China Set to Hit Record Highs

chest

Germany's trade deficit with China is projected to reach unprecedented levels in 2025, with imports rising by 72% and exports falling by 10%, resulting in a record deficit of 87 billion euros.

user avatarArif Mukhtar

MUBARAK's Technical Indicators Suggest Potential Upside

chest

Technical indicators for MUBARAK suggest a potential price increase in the near future.

user avatarMaria Gutierrez

MUBARAK Shows Resilience Amid Market Downturn

chest

MUBARAK has gained 6% despite a broader bearish market, with significant trading volume increases.

user avatarDavid Robinson

Ray Dalio Warns Against Bitcoin for Central Bank Reserves

chest

Billionaire investor Ray Dalio has raised concerns about Bitcoin's suitability for central bank reserves, citing transparency and security issues.

user avatarAndrew Smith

Compliance Costs Rise Amid Regulatory Push

chest

As regulators push for clearer regulations in the prediction market sector, companies are facing new compliance burdens that require adjustments to their operations and economic projections.

user avatarSon Min-ho

Regulators Intensify Focus on Prediction Market Taxes

chest

The rapid expansion of prediction markets has prompted regulators to intensify their focus on taxation complexities.

user avatarJacob Williams

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.