Metronome on CREAM
On April 22, a vote will commence for CREAM holders to add MET as a supported token on their peer-to-peer lending platform.
A Little Bit About Metronome
Launched in 2018, Metronome is known as the world’s first autonomous cryptocurrency. Metronome’s autonomous monetary policy has translated to over $50 million in permanently locked liquidity in its proprietary AMM (which predates Uniswap significantly).
The token offers additional nuanced features like cross-chain support (chain hops), masspay, and subscriptions. Metronome is designed as a new “smart currency” DeFi primitive.
Why Vote “Yes” to MET
Due to the nature of its monetary policy and significant value permanently locked as liquidity, Metronome is a safe collateral token. The floor price of MET (meaning, if every single token holder sold 100% of their MET) is about $1.40 (current price = $3.68). (Calculations made using the CORE floor formula.)
It is impossible for MET to be liquidated at low collateral ratios. But beyond that, this price floor is an extreme, and more broadly reflects that MET is a highly liquid, quasi-stablecoin that makes sense as a better collateral. Token holders of MET are interested in its future as a DeFi currency and are enthusiastic about utilizing it across third-party DeFi platforms.
This is a highly, permanently liquid, safe collateral token held by a community that is highly in tune to DeFi.