Metronome — Further Inroads into DeFi via DEX’es

During Q1 of this year, the Metronome team focused on making MET more accessible, in addition to obtaining MET through the Daily Auction and Autonomous Converter via the Metamask plugin. To this end, we announced that the MET token has been integrated with the Bancor decentralized exchange (DEX) and, not long afterward, the Totle DEX aggregator declared its own support. Just this week, MET became available on the Kyber DEX as well.

DEX platforms are a popular way for traders to convert ERC-20 tokens without the need for a centralized exchange, enabling users to interact with liquidity pools using a series of smart contracts.

Bancor Network

On January 2nd we announced our first integration of the year with Bancor. The MET token now has a USDB/MET liquidity pool. Users can also collect fees from MET trades on Bancor by becoming a liquidity provider. The USDB/MET trading pair is available on Paraswap, a DEX aggregator that uses the liquidity and price data from multiple exchanges to give the user the best price available for each token.

Totle

Speaking of DEX aggregators, the Totle platform is a newer DEX aggregator that facilitates ERC-20 token swaps with up to 92 ETH as insurance. We encourage folks to check out their advanced features, such as Wallet Connect, Coinbase integration and Google account access via Torus.

Kyber Swap

Finally, Metronome has been integrated into the Kyber network as of this week.

The Kyber platform prides itself on providing “liquidity for the tokenized world” and MET is looking to increase liquidity across the board. The MET token is accessible through KyberSwap and available through the Argent wallet to provide this on-chain liquidity. Our goals are aligned and now users will be able acquire the autonomous cryptocurrency, on a top DEX.

MET and DEX Relationship

The Autonomous Converter Contract (ACC) used for MET conversions can be defined as a “specific DEX” because users can convert MET to the chain’s underlying token and back using a smart contract. Listings on well-developed DEX platforms that share similar capabilities give users more options for conversion. It seems natural for Metronome to integrate with these DEX platforms.

Self-governance, reliability and portability make MET a valuable asset for the future. With our recent integrations on Bancor, Totle and Kyber, we have proven our commitment to make MET more accessible for consumers.

Jordan Kruger is managing director of the Metronome project.