Approve Meter to pursue strategic swaps with AMPL


Meter proposes a token exchange between $MTRG and $AMPL to facilitate cooperation between the two parties.

OTC transaction amount: (not exceeding $100,000 in total), no premium transactions

Meter project parties contribute up to $50,000 MTRG
AMPL project parties contribute up to $50,000 AMPL

Token price calculation: Due to the huge volatility of cryptocurrencies, the price of MTRG and AMPL will be calculated based on the market price at the time the proposal is adopted

Meter Introduction

Meter is a high-performance infrastructure that allows smart contracts to interoperate on different blockchains. Meter’s mainnet uses HotStuff consensus and is secured by over 110 verified nodes (scalable to thousands) from the community. It is one of the most decentralized and highest performing ethereum sidechains.

AmplForth Introduction

AMPL is the first rebasing currency and a key DeFi building block for denominating stable contracts. The AMPL protocol adjusts total supply daily based on market conditions, transferring volatility from price to supply. AMPL’s elastic supply policy does not rely on traditional banks or lenders of last resort, unlike stablecoin models. Because of this unique approach, AMPL can be used as a unit of account for smart contracts in a manner that’s not possible with other cryptocurrencies.

Purpose of Token Exchange

1. Significance at the project governance level.

For AmplForth: Meter team, as a team with certain expertise in cross-chain protocols, has the ability to give AmplForth team more advice and help in cross-chain, and when AmplForth has some suggestions and actions in cross-chain, Meter team will give professional advice and help.

For Meter: AmplForth is part of Meter’s ecology, Meter and AmplForth itself is a community of interest, so Meter team should hold a part of Forth tokens and become an integral part of AmplForth community.

Future plans for cooperation

Meter will launch AMPL-MTRG flow pool and AMPL-BUSD flow pool on VoltSwap (Meter’s official launch Dex project), while Meter will officially give AMPL to these two flow pools as mining rewards (the current flow pool establishment has been voted by Meter community: /#/meter-mainnet.eth/proposal/QmR4CFbSRZN3tBSTLCQVJym4wbKMBUpKgVouuubXcC3Py3)

AmplForth will use the MTRG tokens held to pledge in the Meter wallet, and the revenue earned by users covers the AmplForth team’s fees on the Meter chain (mainly the fees incurred by the AMPL protocol for controlling multi-chain tokens through Meter).

Diversification of vaults on both sides

Both Meter and AmplForth are excellent teams, but as our respective ecosystems grow, we both increasingly need to further strengthen our partnerships with additional financial incentives and better secure our project partners by diversifying our tokens against market risk.

Partnership History | Meter and AmplForth

Meter and AmplForth are close partners. In June of this year, Ampleforth became one of the first projects to launch on Meter Passport, Meter’s official cross-chain bridge. The partnership allows Ampleforth to not only transfer AMPL tokens across chains, but also to control the multi-chain token variant base and total circulation via a master smart contract on Ether. (More details can be found in the article: Ampleforth is live on Meter Passport with Inter-Blockchain Communications!


Since Amplforth’s token price fluctuates frequently and therefore requires almost daily base change operations, the partnership has greatly advanced the AmplForth project and allowed for more decentralized, rather than human-controlled, manipulation of the multi-chain tokens.

AMPL tokens rebase over the last 120 days, source: DuneAnalytics

The entry of AmplForth project into Meter ecology has greatly enhanced the richness of Meter ecology and become the first project in the field of algorithmic stablecoin in Meter ecology.

Related proposals:

AMPL: Proposal from Meter: Conduct token swap with Meter

  1. For:Execute swap
  2. Against:Do not Execute swap

0 voters

In my opinion it is an excellent proposal to be put to the vote. The partnership between Meter and Ampleforth is certainly a great partnership from a strategic point of view. We have already seen the help that ampleforth gave Meter in developing Voltswap. I think that this exchange of resources can allow both projects to grow together and to develop more and more important strategies together. I can’t wait to be able to vote


Agreed, I think furthering the partnership between Meter and Ampleforth is a great move.

1 Like

The partnership per se is good, but while Meter is receiving AMPL tokens, Ampleforth is receiving MTRG which offers governance rights apart from its monetary value.
Due to the double token nature of BOTH ecosystems, if everything they want is money, they should get MTR instead of MTRG.
Why aren’t they offering FORTH tokens which could result in a better experience and more engagement for the Meter team / community?
Meter shouldn’t be too desperate as to take any type of partnership without first considering the nature of this partnership.
If Meter is considering exchanging its governance token it should be in exchange for something similar in value (both in rights and monetary value) and right now it looks like Ampleforth is getting a much bigger piece of the cake.

  1. For AMPL, pledging the obtained MTRG tokens into the Meter wallet can yield about $5,500 per year, which can just cover the fees from the cross-chain bridge that the AMPL team uses Meter daily (AMPL performs a cross-chain operation every day).
  2. We build the initial liquidity pool of AMPL, not the initial liquidity pool of Forth
  3. Governance is the direction we are currently exploring, but there are still problems with the actual ground operation of exchanging governance rights between the two sides of the project. We also mentioned this issue in AMPL forum, and we will make a separate proposal for the exchange of governance rights afterwards.
  4. There are about 12k MTRG from the exchange (4kw in total), which has little impact on governance (due to the small volume of this token exchange)

The proposal has been discussed for nearly 3 weeks and is now in the voting stage.
Proposal voting address: Snapshot