Metronome (MET) is now available to trade on Balancer. Additionally, we’ve deployed a permissionless liquidity pool that Metronome holders can contribute to. As of today, users can trade MET and become liquidity providers in the Balancer pool. Additionally, Balancer has whitelisted MET, so liquidity providers can passively earn BAL in addition to revenue generated by trading fees.
Balancer is a protocol where users can create liquidity pools for different trading pairs, similar to Uniswap or the MET DEX (aka the Autonomous Converter Contract). The difference: Balancer has the added capability of creating pools pegged to different ratios which automatically rebalance as needed.
This unique “balancing” component introduces the ability to create “permissionless index funds.” The MET pool is set to 80% MET and 20% ETH.
Lastly, this addition represents an additional market for users to trade and watch. More MET markets translate to a healthier Metronome ecosystem, and we encourage you to promote MET and earn fees by providing liquidity to the Balancer pool. If you’re a developer, check out this recent tutorial if you’d like to learn more about setting up your own price feeds to assist trading.
Metronome was among the original DeFi projects and we’re excited that its shared surface area with this exciting category continues to grow. Look forward to more updates throughout the year.