Contract Focus (Pt. 1 of 3): The Daily Auction

Metronome offers a unique opportunity for community members to obtain MET — via the daily auctions. These are descending price auctions, aimed at ensuring that Metronome purchasers arrive at the fairest possible price.

Participating in the daily auctions is easy and doesn’t require advanced technical knowledge. In fact, you can even participate in daily auctions by visiting the Metronome website. Here’s how:

• Get an ERC20-compatible wallet or the MetaMask Chrome extension.
• Go through the “Buy” portal that will allow participation in the auction.

For more information about obtaining ETH and the general flow, please review our post from before the Initial supply auction. Below we will outline, step by step, how to participate in the daily auction directly from the website.

As mentioned above, before the auction starts (midnight UTC) make sure you are connected to an ERC 20 compatible wallet, like MetaMask.

Next, Metamask will then ask you to authorize connecting to Metronome.

Once the timer for the daily auction has started, and if there is still available Metronome, enter in the amount of Metronome you would like to purchase for the Auction.

You will then be prompted to “Finish this Purchase in MetaMask”. Your MetaMask wallet will open so you can review the transaction.

After a few moments, and once the transaction is successful, you will get a confirmation card in your browser window summarizing the event.

Stay tuned for the next few pieces in this series where we discuss the unique attributes of the other Metronome contracts.

More to come.

Jordan Kruger is the managing director of the Metronome project.