The cryptocurrency race is in full swing. There are now more projects than ever, each with new features springing up weekly. These new opportunities and platforms help to drive crypto adoption further. One project that has done its part to provide users with multiple reasons to make the switch to the decentralized economy is the META1 Coin.
META1 combines an advanced feature set with enterprise-grade security to create new opportunities for users and developers. The network introduces a purpose-built, fourth-generation blockchain to keep true to its goal to empower users to break free from the chains of financial oppression. Here are the top ways that the META1 Coin project continues to drive crypto adoption in 2022 and beyond.
2022 Continues to Test Traders Resolve
This year has proven to be a tricky one for crypto traders so far as corrections have hit the market hard. Experienced traders knew the market corrections were long overdue. Whenever an asset reaches a new all-time high, it’s usually followed by a pullback. This correction is necessary to lock these gains in. However, the pullback from an ATH can last for years, as was the case during the last crypto winter which saw coins like Bitcoin drop to $3000.
This year is a little different than previous bear markets in that there are more crypto users than ever before. The market is far more expansive and includes more options. Additionally, there are multiple ways for traders to protect their wealth and avoid the volatility that early traders could only dream of like safehaven tokens.
It Starts With More Stability
The concept of stablecoins dates back as far as cryptocurrencies. From the market’s earliest days intuitive minds were attempting to leverage the stability of other assets to create a more reliable cryptocurrency for all. These projects started with cryptocurrency reserves, as this enabled the developers to keep all transactions on the chain. These systems used advanced algorithms to adjust circulating or reserve supplies to retain stability.
The main problem with this approach is that when the entire market drops, the movements can be too fast for algorithmic stablecoins to adjust. This reason is exactly why developers quickly turned to other methods of creating stability such as pegging the token to fiat currency or commodities like gold.
Fiat Backed tokens Fail
Fiat-backed stablecoins remain a popular option for traders. They enable users to exit the volatility and quickly reenter in a frictionless manner. However, these tokens have a major flaw. They are subject to the same inflation as regular fiat currency. The current inflation rate is 9% in the US which is a 40-year high. As such, it’s easy to see that fiat currency is amid a spiral in terms of purchasing power.
If you look around the globe, you will notice that many countries suffer from inflation and even hyperinflation. These nations have had to make drastic maneuvers to protect their citizen’s wealth. For example, El Salvador made Bitcoin legal tender. Now the country’s citizens can use digital assets to buffer their savings against the nation’s crushing inflation.
Gold Stablecoins are Better
It’s no surprise to learn that gold-backed stablecoins provide more stability and appreciation than fiat and crypto-backed alternatives. Gold has proven to be a resilient and effective long-term store of value. The precious metal is not tied to any government in particular and there is no way for countries to print up gold reserves. Where gold falls is day-to-day transactions and serving any purpose for the average person.
However, gold-backed stablecoins change the game. They combine the appreciation and stability of this recognized SoV with the advantages of digital currencies. There have been many attempts to make this merger happen but it wasn’t until recently that developers were able to come up with the combination of systems needed to make an effective gold-backed stablecoin.
Safehaven Assets are the Winner
The best option to emerge as of late is safehaven tokens. These protocols combine the best aspects of stablecoins with advanced smart contracts and DeFi features. The combination of attributes enables you to enjoy more stability and access the latest wealth generation strategies. A perfect example of this style of the token is the META 1 Coin.
META 1 is a multi-asset-backed token that leverages a basket of gold-related assets in combination with an all-inclusive DeFi ecosystem to improve the user experience. The project has already been proven to provide more stability. During the current market correction, META 1 gained +1.03% in value. This growth occurred while major projects like Bitcoin lost over 50% of their value.
Asset Protections
META 1 introduces some unique protection to keep protected safe from sudden losses. The network has an asset protection system that continually monitors trades of the token across all networks. The system prevents trades under asset value. This is a huge advantage because it means that there are no dumps to worry about. Plus it ensures the token retains its peg.
One of the worst things that can happen to a stablecoin is for it to lose its pegged value. When this occurs, the end is near for the project. This exact scenario has played out numerous times in the last two years with the UST/LUNA crash being the most recent. META 1 users gain an extra level of confidence knowing their token will remain pegged to its underlying asset under all market conditions.
Fight Inflation
Another major plus for gold-backed projects like META 1 is the fact that gold experiences increased demand whenever there is market volatility. This increased demand results in the prices rising which equates to higher value for META 1 Coin holders.
Eliminate Volatility By Removing Whales
META 1 uses smart contract to reduce whale manipulation. This system requires users to prove they are individuals and not corporations or trading firms. This approach prevents large token holders from pumping up the market and then dumping their holdings and tanking the token value.
Token Limits
Another protection that is worth mentioning is the token limit. The METANOMICs ecosystem has a $5 million cap per person. This limit is meant to prevent a single trader from holding enough coins to jeopardize the stability of the project. The concept of a token value cap is a first in the market. It demonstrates the project’s desire to remain decentralized moving forward.
Open
One of the main ways that META1 helps to drive crypto adoption is via its open nature. Anyone who has ever attempted to open a bank account can attest to the myriad of hoops users must jump through. For example, you must provide a lot of different documentation. You must also have your financial history reviewed. Together these requirements have left billions in the world unbanked at the moment.
There are entire populations that lack access to basic financial services because they are unable to produce this documentation. Refugees, those in certain political climates, and citizens of underdeveloped nations lack this information in a format that is acceptable to the bank’s gatekeepers. Notably, the unbanked population of the world isn’t purely located in underdeveloped or war-stricken regions.
Not Just Underdeveloped Countries
A large percentage of unbanked individuals live in highly developed countries. Notably, a recent study found that the #1 reason a person was unbanked in the US wasn’t due to documentation, but financial barriers. These users stated they didn’t make enough to keep their accounts open and pay the bank’s ever-growing fees.
META1 eliminates both of these problems. In the spirit of DeFi (decentralized finance), META1 provides its services to the global community openly and transparently. META1’s developers located the operation outside of centralized regulators to ensure they could pursue their goals of creating a financial system open to all.
Additionally, the decentralized nature of META1 means that there are no middlemen. As such, the profits that your bank would take are now shared with the community. Anyone can grow their wealth using META1’s unique combination of services.
Generate Wealth
Your local bank may be good at keeping your crypto safe from robbers, but it does nothing to protect you from a far more dangerous thief – inflation. However, your local bank protects itself by securing profits when they lend out your holdings to others. Sadly, they only pay you a small fraction of these interest payments, around 0.03%. In the end, your yields don’t add up to the inflation and therefore, you lose.
META 1’s founder Robert P. Dunlap studied the economic oppression in play and deduced that most people’s issues arise from a lack of access to secure, low-risk passive income streams. He took great care to weave passive income alternatives into the META 1 network.
Users can earn rewards for staking their META 1 Coins. Staking is a great way for new users to secure rewards because there are no technical requirements. You simply lock your crypto into a smart contract for an agreed time. Your rewards are predetermined based on your token lockup specifications.
META VAULT
You can also secure a healthy 10% APY using the DeFi savings account feature. When compared to the ridiculously low amount your bank pays, it’s obvious that META 1 users enjoy greater benefits. On top of these features, the META 1 Coin introduces inflation protections, unlike any other cryptocurrency.
Transparency
The META blockchain provides users with top-notch security and advanced DeFi features. This fourth-generation decentralized network brings a new level of transparency to the market. In the past, users had no way to see the internal workings of the bank. In the METANOMICs universe, all transactions are visible via the blockchain explorer.
Seamless
To get new users into the crypto space, it needs to be easy and convenient to enter and exit. Recognizing these requirements, the innovative team behind META 1 has taken convenience to a new level. For example, the developers recently partnered with Onramper to bring a flexible fiat onramp into the network. Users can join the METANOMICs ecosystem using 50+ fiat currencies thanks to this strategic partnership.
META VAULT VISA
You can also spend your crypto just like fiat currency. The network provides users with a VISA crypto debit card. This card enables you to spend your holding anywhere that accepts VISA credit cards. This new level of interoperability is possible due to how the debit card functions.
When you swipe the card, the system will automatically sell a corresponding amount of cryptocurrency for fiat currency. This fiat is then sent to the vendor. The entire process takes seconds and the vendor receives their payment in fiat currency directly. In the end, they are not aware of any difference.
Expandable
To remain future-proof, META 1 intends to open its open-source network to third-party developers. It’s often said that it’s the Dapp developers that determine the value of a cryptocurrency because they are who dictate how regular users interact and use the tokens. To that extent, META1 provides a treasure trove of developer tools to help drive innovation.
The META blockchain operates as a smart contract programmable network. It provides high scalability and security via the integration of a new PoS (Proof-of-Stake) mechanism. The system does away with power-hungry crypto miners and instead, special nodes called Witnesses keep the network secure. This technical structure is more efficient, scalable, and easier to maintain.
META 1 – Stability and Functionality Combined
META 1 continues to drive crypto adoptions due to its combination of effective features. The network builds on Bitcoin’s goal to liberate society from centralized bankers and expands on it considerably with advanced DeFi options. You can expect to hear a lot more from META1 in the coming weeks as the platform continues to see major exchange listings across the market.