Bitcoin and other cryptocurrencies allow any two parties to transact directly with each other without the need for a trusted intermediary. However for transfer of value from one blockchain to another people still have to rely on third party exchange services.
Since these exchanges are centralized entities that control customer funds, they provide a single point of failure targeted by both hackers and government intervention. These incidents have resulted in hundreds of millions of dollars lost by users.
In Metro decentralized exchange (DEX) only users can control their funds. Using a blockchain-based trading ledger guarantees that a hacker would need to control more than half of the network resources to compromise such exchange.
Metro DEX provides a safe cryptocurrency assets trading service for its clients. The commission charged for each transaction is the income of Metro DAC. All of the received funds are paid to project participants for the work necessary for the functioning of Metro blockchain. Metro is based on hybrid Proof-of-Work and Proof-of-Stake consensus protocol and rewards these user roles for the value they provide:
Metro users make deposit exactly the same way as they do it on centralized exchange. The difference is that all deposits are held by smart contracts, not third party. When a Metro user wants to deposit 10 ETH, he sends 10 ETH to Storage Smart Contract address with his Metro public key as a memo. After this transaction is confirmed in the Ethereum blockchain, the Data Supply protocol initiates a transaction in Metro blockchain issuing 10 'ETH' assets to submitted address.
Trades can be performed using standard exchange web-interface. When user submits a trading order it is stored in Metro Order Book module until a matching order is placed by another user. As soon as the matching order is found the tokens are released to each of the involved parties wallets.
All withdrawals are processed by Metro blockchain consensus. When a Metro user wants to withdraw 10 ETH, he performs special burn transaction with Ethereum public key as a memo. After this transaction is processed the Data Supply protocol initiates unlocking of 10 ETH stored by Smart Contract in the Ethereum blockchain and sending them to provided address.
Only 1,000,000,000 Metro tokens will be issued.
Circulation supply will be increased uniformly on each segment of the length of 200,000 emission blocks:
200,000,000 Metro tokens will be created on blockchain start in June 2018 and locked. Each mined block will unlock 1000 metro tokens.
Developers will get 100,000,000 of initially issued Metro tokens and another 100,000,000 will be distributed among NXT community.
In addition to unlocking, each mined block brings reward with block subsidy starting at 2,000 MTR until the first halving.
Total distributionFirst emission period
100,000,000 metro tokens (10% of total supply) was distributed to NXT holders on Mainnet start, in accordance with JPL licence since we use NXT blockchain code as a base for Metro blockchain.
For every 10 NXT on your wallet (at block number 1894000) you received 1 MTR on account with the same passphrase on Metro blockchain. Snapshot was made on June 22th, NXT block #1894000. Congratulations to NXT holders, as their MTR was credited on 6 June 2018!
More options coming soon...
Concept and Research.
White paper and code publishing.
Blockchain start. Airdrop.
Decentralized trading start.
Andy was Enterprise software developer since 2000. He created two companies in the area of digital finance. First of them was in pre-cryptocurrency era; he independently implemented digital currency exchange for E-gold, Liberty reserve, etc. Participated in a couple of cryptocurrency startups, accumulating specialist knowledge and useful contacts. Cryptocurrency trading since 2011.
After entering the market of digital currency, he wrote code for a new kind of cryptocurrency pool and was active in the community networking with some of the earliest technology adopters.
He then went on to start his new business, founding Metro Software. He is familiar with the full development cycle of modern software, including open-source projects.
Master of mathematics, specialized in fractal geometry and theory of chaos; has experience in teaching programming and mathematics to high school and middle school students.
Frédéric is creating commercial software since 1990, with a sojourn in the City of London and London County Hall in 2002-2007 being involved in the Financial Services and E-commerce infractructure. Private investor since 2003, watching crypto space closely since 2011.
Projects ranged from creating a new ticketing platform for London Aquarium in 2005 integrating it with state-of-the art physical access system, to creation of textual multi-user Virtual Reality programmable by it's users with telnet access, it's own IDE and Web interface in 1996.
Bachelor in applied and pure math, specializing in theoretical cybernetics, Master of Philosophy (social sciences). In 1995-1998 used mathematical knowledge in areas of Geology, Geophysics and GIS.
Software engineer with 6+ years experience developing of Enterprise Java Applications. Participated in projects with GMAC, UMUC, Washington Post. Involved in cryptosociety since 2017.