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Meter Partners with NEST Protocol for Distributed Price Oracles

Meter Partners with NEST Protocol for Distributed Price Oracles
HeadlinesSignalsMeter Partners with NEST Protocol for Distributed Price Oracles

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Meter Partners with NEST Protocol for Distributed Price Oracles

Published on November 20, 2020 09:12 GMT+0

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Meter are excited to announce that have partnered with NEST Protocol to integrate their oracle services into decentralized finance (DeFi) applications built on top of Meter!

Nest adopts a unique “quotation mining” mechanism to ensure that the traditional off chain price data is generated on chain synchronously. Furthermore, adaptation of the QP (“quote pool”) token and “spread” are in place to incentivize the miners and arbitrageurs, thus limiting the risks that’s existing in traditional oracle solutions by ensuring its players providing accurate data.

“NEST Protocol’s oracle mechanism is quite innovative and allows them to provide very accurate quotes. We welcome them to our development ecosystem and believe they will add a lot of value for DeFi app developers building on Meter.”
  • Xiaohan Zhu, Co-Founder and CEO of Meter

By integrating NEST Protocol’s oracles, developers who build on Meter’s DeFi infrastructure will have access to reliable on-chain quotes.

We are thrilled to welcome NEST Protocol to the Meter ecosystem!

About Nest Protocol

NEST Protocol is the first permissionless network built for on-chain oracle services,

as well as a community of token holders, data providers, and validators.

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About Meter

Meter is DeFi infrastructure with a fully-decentralized, low-volatility coin, MTR, at its core.

The Meter system uses Proof of Work to create MTR and Proof of Stake with the MTRG governance coin to validate transactions. This hybrid consensus mechanism makes Meter fast — the system can process thousands of transactions per second, reaching finality almost instantly — and super secure.

DeFi app developers can also use our highly-decentralized, HotStuff-consensus PoS chain as an EVM-compatible sidechain to increase the speed and scalability of decentralized exchanges, derivative trading platforms, yield farming programs, and other DeFi apps.

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