Metronome 2.0 Launch

Metronome introduced Metronome 2.0 with intention to establish $MET as that better DeFi currency on Ethereum and other EVM compatible chains where DeFi takes place.

Introducing CMET and MET 2.0

The following provides a high level overview on CMET, a proposed complementary governance token, and how its distribution can empower MET holders with ownership of the project and treasury funds to evolve Metronome as needed.

In the simplest terms, CMET (for “Community MET”) helps align Metronome with current expectations in DeFi — DAO-based governance and a treasury that could fund further development. This is meant to address the challenges described above in terms of charting the long-term future of Metronome.

Distribution Components

The stages of distribution currently planned are as follows:

🔹Airdrop: MET holders will have the ability to claim CMET in a time-sensitive airdrop on their MET holdings.

🔹Initial DEX Offering: A portion of the unclaimed CMET from the airdrop will be sold in an auction, with all proceeds going to the CMET treasury.

🔹Treasury: A portion of the unclaimed CMET from the airdrop will be distributed to the CMET treasury.

🔹Liquidity Generation Event: Individuals post ETH to build out initial CMET liquidity. That ETH is paired with CMET from the treasury and participants can reclaim the full LP over time.

🔹Multi-Chain Liquidity Mining: MET and CMET will bridge to multiple EVM-compatible chains, and individuals will have the opportunity to earn CMET for posting liquidity to those chains.

🔹Revenue Generating MET/CMET Dapps: Applications will be built out to generate revenue for the CMET treasury. Initially, this includes a Vesper product where users can earn CMET while their deposits earn yield for the CMET treasury.

CMET Distribution Outcomes

CMET’s launch is designed to build a healthy, diverse treasury with meaningful amounts of each of the following tokens:

• ETH
• Stablecoin
• MET
• CMET
• CMET-ETH LP

CMET holders control the treasury. Through governance voting, funds can be used to build out Metronome’s product suite, including (but not limited to):

• Marketing initiatives
• MET lending market
• Dedicated cross-chain bridging/exchange
• Integration into the broader DeFi space: other platforms for DeFi activities, yield farming, etc.

Of course, CMET holders will have autonomy to utilize this treasury as they see fit. This may additionally play out as monetary policy to buyback MET/CMET, add liquidity, etc.

The cross-chain liquidity program encompasses three very meaningful outcomes for the MET token:

• Re-establishes MET as a cross-chain DeFi token
• Introduces MET to more nascent DeFi ecosystems on sidechains and L2, where it has more opportunity to command the niche
• Adds more liquidity, which should lead to an increasingly higher price floor for MET

And more broadly speaking, this launch is intended to re-invigorate the existing MET community and build exposure and participation from a broader DeFi community — many of whom are interested in Metronome’s idea of the better DeFi currency.

What is Metronome?

Metronome (“Metronome” or “MET”) is a new cryptocurrency designed to bring institutional-class endurance to the cryptocurrency category through:

• Self-governance – Metronome is designed to function indefinitely without management by a particular group or individual, even its authors.
• Reliability – The system is architected for steady and predictable token supply via descending price auctions.
• Portability – With the ability to move between blockchains, the cryptocurrency is further protected from management issues and instability.

📰 INFO:

https://metronometoken.medium.com/metronome-2-0-defis-first-better-f662b4f38dee