Contract Focus (Pt. 2 of 3): The Proceeds Contract

Last week, we highlighted how users can participate in the daily auctions. But even people who have followed Metronome for some time ask “What happens to the proceeds from those auctions?”

Metronome is unique in that the authors do not receive the proceeds from the auctions. In fact, no one does. The proceeds are best thought of as a community asset, stored in a locked box.

Instead, 100% of proceeds from all auctions flow into a Proceeds contract. No one, not even the Metronome team, has access to the Proceeds contract.

What happens to the Proceeds?

Unlike other protocols, Metronome keeps all proceeds within the ecosystem. Each day, the Proceeds contract sends 0.25% of its contents to the Autonomous Converter. (More in the upcoming article “Contract Focus Pt. 3.”) This is just one example of the thoughtful design decisions the Metronome team made to put the community and ecosystem first. By retaining the proceeds in this manner, Metronome has built-in long-term support for the ecosystem that other cryptocurrencies often do not have for quite some time after launch.

The Metronome team has always strived to build a healthy and enduring ecosystem, intended to be future-proof and long-lasting. This can be seen in all design aspects, but especially true in the forward-thinking architecture of the Proceeds contract.

The unique approach to how Metronome handles the proceeds is one of many features to help ensure that Metronome is built-to-last.

More to come.

Jordan Kruger is the managing director of the Metronome project.