DeFi Defined: Metronome (MET) Now Available on Bancor

The Metronome team is proud to announce that MET is available for trading on the Bancor Network. A relationship that was once informally technical is now formally economic in nature. Read on below.

Metronome Inside Bancor

The Metronome Team built MET foreseeing that the progress of the digital asset category meant that decentralization, openness, and reliability should (and must!) increase. In all of the ways that count — such as total value locked in its contracts and its capability to extend beyond Ethereum — Metronome was built as the ideal, autonomous Decentralized Finance asset before the term “DeFi” ignited the already fertile imaginations of the crypto industry.

By adding MET to Bancor, MET becomes more accessible to the crypto community in general and DeFi users in particular, joining the broad array of tokens currently available on Bancor.

MET has deployed a stable liquidity pool based on Bancor’s new stablecoin USDB to facilitate seamless conversions for users. MET holders are able to easily “stake” their MET inside the new MET/USDB pair and collect fees from every MET trade that occurs on Bancor, essentially earning rewards for staking MET and providing liquidity to MET.

Bancor Inside Metronome

But this listing is even more notable given the Bancor-derived lineage of Metronome itself. Longtime Metronome community members and eagle-eyed readers of the Owner’s Manual may remember that a modified Bancor algorithm provides the basis of the Autonomous Converter Contract (ACC). The ACC is the “mini-decentralized-exchange” (DEX) that allows MET holders to convert MET for its underlying token and vice versa, determining the price based on the total amounts in the converter and the desired volume to be sold.

So it seems inevitable that MET would be available on Bancor, one of the first exchanges that demonstrated what is possible for users in the emerging DeFi category. We’re looking forward to exploring how these possibilities might be further extended in the future.