I really like the problem statement of Meter's whitepaper and I completely resonated with it on how cryptocurrencies as 'currencies' will never be used for transactions within an open real-world economy, and be used largely for speculations instead. However, if you do not peg a token to the dollar, how would the token then be used for 'real world activities'?
Meter makes use of Proof-of-Value as their consensus mechanism, which is a combination of PoS and PoW. They have a dual token economy, with $MTR as their utility token, generated via PoW miners. $MTRG, the governance token, is used by PoS validators for transaction validation and also used for governance/voting, and $MTR is earned from PoS. What is really interesting is that $MTRG can only be obtained via auctions using $MTR as a bidding currency.
Enter the way Meter pegs their token value to the economy - via the price of electricity! The $MTR token is pegged to the value of 10 kWh of electricity, and creates a relatively stable price of $0.6-$1.25/token. The fluctuations might seem large, but they have a reserve mechanism to absorb shocks to its price stability as well, coming from auction proceeds. Show Less
