> For the complete documentation index, see [llms.txt](https://docs.meter.io/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.meter.io/overview-of-meter/the-meter-reserve.md).

# The Meter Reserve

The Meter protocol does not have a centralized government but retains the concept of possessing a reserve to absorb any significant shocks to MTR’s price stability. 

At launch, 100% of the proceeds collected from the on-chain auctions (in MTRs) gradually go to validators as block rewards in the next 24 epochs.  However a portion of the proceeds can be put into a system reserve. The MTRs that are put into the reserve are temporarily removed from circulation. This reserve allocation ratio is a parameter that can be adjusted via the Meter governance process.