With the passing of MIP-015, Metronome is proud to introduce esMET, a refined ve-tokenomics model.

With the passing of MIP-015, the MetronomeDAO has greenlit the introduction of esMET, a refined vote-escrow tokenomics model for the MET token. This will enable users to lock their MET tokens for periods ranging from one week to two years, granting them various benefits, including the ability to engage in on-chain governance in the near future. Learn more.

Currently, $MET serves as the governance token for the Metronome ecosystem. However, the broader vision for $MET goes beyond just governance, with tokenomics being used to enhance the overall user experience and address long-term limiting factors, such as liquidity.

esMET

Metronome builds upon the original vote-escrow model and introduces key differences to address the typical challenges associated with it. Specifically, Metronome facilitates transfers of locked positions through the ERC-721 standard, offers options for early exits, and enables users to hold multiple positions.

With this also comes the next step toward on-chain governance where users will be able to take a more active role in protocol-related decisions. This move seeks to build a more secure and reliable model, designed to ensure fair outcomes and establish a robust governance process.

Trading Fee Discount

Within the Metronome ecosystem, the Metronome Marketplace offers users the ability to swap their synthetic assets at a low fee of 0.25%. For users holding esMET, the tiered fee structure provides additional discounts as follows:

• 500 esMET results in a 0.20% fee.

• 5,000 esMET reduces the fee to 0.15%.

• 50,000 esMET, the fee drops to 0.10%.

• 500,000 esMET further reduces the fee to 0.05%.

Smart Farming Boost (Coming soon)

The Smart Farming Boost incentivizes users to provide liquidity to the available synth pairs, boosting rewards up to 10x based on their contributions and esMET holdings. More to come soon.

In order to obtain esMET, lock your $MET tokens following the steps below:

1. Visit the Metronome app and connect your wallet.

2. Select “Lock MET” on the left-hand side and specify the amount of $MET to lock.

3. Choose a duration using the slider (1 week to 2 years).

4. Click "Lock", review the details, and confirm the transaction once satisfied.

5. To unlock tokens, head to the "Locked Positions" tab.

6. Next, view your positions, select "Unlock", and approve the transaction.

7. Please note: Tokens locked within the past 24 hours cannot be unlocked immediately.

Stay tuned by following our Twitter for more to come soon. You can also join our Discord or Telegram for community insights or to chat with the team.