Unleashing the Power of esMET

September 28th, 2023

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

Overview

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.

Benefits

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.