Metronome has received an Optimism grant of 149,000 OP tokens
Just a few months ago, we saw our sister protocol, Vesper, secure an OP grant. Seeing their success, we decided to do the same. Today, we are thrilled to announce that Metronome has received a grant of 149k OP.
After wrapping up cycle-13, we are set to take things up a notch with our Synth offerings. So far, we have been solely operating with msETH on Optimism, however, with this grant, we’re expanding. Look out for msUSD and msOP pairs coming to Velodrome soon.
These new additions will mean we can start offering Smart Farming routes for msUSD and msOP, giving our users even more ways to optimize their yield.
Due to a reduction in grant size, we aim to use approximately 80% of the grant (119,200 OP) for weekly Velodrome bribes, as detailed below:
- msETH-ETH: 2,980 OP
- msUSD-USDC: 1,980 OP
- msOP-OP: 1,000 OP
The remaining 20% (29,800 OP) will be strategically used for incentive matching with our partners for cooperative activities, such as partner LP pools.
In addition to the OP incentives, we will continue incentivizing these liquidity pairs from our DAO treasury. This will be done using $MET token and permanent LP incentives through treasury token holdings. We will also target at least a 1:1 match in a $ notional value of the MET incentives that we push alongside OP incentives received from this grant.
The 80% of incentives will be spread out over 20 weeks. The remaining 20%, used for partnership activities, is also expected to be distributed within the same timeframe.