Hailed as one of the most trusted infrastructure providers for DeFi users, Meter has announced its strategic collaboration with Oasis Foundation, a prominent name in the open finance cluster. The integration between the two leading firms will pave the way for the launch of Meter’s native decentralized and metastable currency, the MTR token on the Oasis ecosystem, furthering the expanse of DeFi.
As per the highlights of the partnership, Meter will use the MTR token to strengthen its network and enhance its working capacities. The Oasis Network will allow seamless access to a secured, decentralized, and stable exchange channel for the developers aiming to design a privacy-driven DeFi product. The team at Meter is elated to team up with Oasis Network as it a trusted brand offering high standards of end-to-end data security, access, and ownership. The partnership will help Oasis Network to achieve its objective of facilitating responsible and regulated data channels.
The head of DeFi at Oasis Network, Luca Cosentino stated that to encourage the mass adoption of DeFi, it is important to develop a crucial technology that favors privacy in all its forms. A permission-less and low-volatile crypto token can foster high-end scalability, privacy, and security. This can open doors for more and more business entities coming forward to invest in DeFi and thereby expanding its network scope.
A similar response was recorded from Xiaohan Zhu, the Co-Founder, and CEO of Meter Network. The leader is confident that the privacy standards offered by Oasis Labs can help them evolve as a strong player in the privacy-supporting DeFi cluster. This will help in the expansion of the DeFi sector in the finance economy.
Meter employs the Proof of Work algorithm to design a system that offers high scalability, security, and stability for the DeFi space. The platform’s native currency, MTR, along with the MTRG governance coin based on Proof of Stake, facilitate quick and secured transactions. The portal is known for processing thousands of transactions every second via its hybrid consensus system. The DeFi developers can use the HotStuff- consensus PoS chain as a sidechain to boost the operability of decentralized exchanges, DeFi projects, derivative trading portals, etc.
On the other hand, Oasis Foundation gives complete ownership and control over the data and finances to the users using its privacy-focused interface.