We will work with Meter to launch our Trust and Creditworthiness APIs on their protocol and explore cross-chain capabilities.
Hello UTU Trust Guardians!
We are excited to announce that we’ve partnered with Meter to port UTU Coin to Binance Smart Chain (BSC) and launch our trust infrastructure on the Meter network!
What is Meter?
Meter takes Ethereum to the next level by enabling scalable and interoperable Dapps with the safety and security of full decentralization.
The Meter system uses Proof of Work to create metastable MTR tokens for paying transaction fees and gas. It also uses HotStuff-based Proof of Stake consensus with the governance coin MTRG to validate transactions.
This hybrid design makes Meter fast – processing thousands of transactions per second – and connected to stable values in the physical world.
Meter can function as a highly-decentralized, high-performance Layer 2 chain for Ethereum, Polkadot, BSC, and many other chains. Dapps built on Ethereum and other chains can run on Meter with almost no modifications.
How will UTU and Meter work together?
Port UTU to BSC and other cross-chain initiatives
First of all, we will use Meter’s cross-chain bridge to port UTU Coin to BSC.
We have deployed the UTU contract on BSC, and here is the contract address: 0xed4Bb33F20F32E989AF975196E86019773A7CFf0
Stay tuned for news about a BSC decentralized exchange (DEX) listing this week! DO NOT BUY OR TRADE ANY UTU COIN ON A BSC DEX BEFORE WE ANNOUNCE THE LISTING, AND ALWAYS DOUBLE CHECK THE CONTRACT ADDRESS. ANY OTHER LISTINGS OF UTU COIN ON BSC WILL BE SCAMS.
We will also bridge UTU Coin to the Meter network and list it on their native DEX, MeterSwap, in the future.
Finally, we will explore additional cross-chain initiatives as Meter builds bridges to other protocols like Polkadot, Avalanche, Cosmos, and more.
Launch UTU Trust Infrastructure on Meter
We will launch multiple UTU Trust Infrastructure products on the Meter network.
First, we’ll deploy UTU’s Creditworthiness API so our trust oracles can be integrated into DeFi lending apps built on Meter. Our AI-based oracles use on- and off-chain data to allow these DeFi platforms to more accurately determine users’ creditworthiness, which will facilitate more under-collateralized loans and other lending products.
Also, our Core Trust API will be able to analyze the trustworthiness, performance, and quality of Meter validators. This will identify the most trustworthy and dependable validators to help stakers of MTRG select which nodes are best to delegate to.
“UTU trust infrastructure takes a unique approach in combining both on- and off-chain data to create the risk and credit profile of a user. It is invaluable when we start seeing the convergence of traditional finance with crypto. We are excited to partner with UTU and provide any needed infrastructure to facilitate the adoption of their Trust and Creditworthiness APIs.”
-Xiaohan Zhu, Co-Founder and CEO of Meter
“Meter is building an impressive DeFi ecosystem, and we are excited to build on their network to take advantage of their speed, scalability, and cross-chain capabilities. Their BSC bridge was super easy to use and we look forward to leveraging other interoperability features. And we can’t wait to launch our Trust and Creditworthiness APIs to help increase the adoption of undercollateralized loans.”
-Jason Eisen, Co-Founder and CEO of UTU
Meter.io envisions a borderless financial and information ecosystem empowering people to reimagine the world. We take Ethereum to the next level by enabling scalable and interoperable dapps with the safety and security of full decentralization.
Learn more at meter.io.
UTU’s mission is to become the trust infrastructure of the entire internet, replacing anonymous star ratings, reviews, and scores as the de facto trust mechanisms of our digital lives. We do this in service of our vision — to bridge the gap between how we trust in real life and how we are asked to trust online to make the internet a safer, more trusted place to gather, share, work, and trade. We are proudly based in Nairobi, Kenya.
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