Metronome Synth Beta Guide
Learn how to use the Synth beta and gain knowledge on how to create and swap assets via the Synth market.
Overview
Generating Synths
1. Firstly, head to app.metronome.io and connect your web3 wallet in the top right. You can choose from the currently available options. We will be using Metamask for this guide.
2. After you have connected your wallet, it’s time to deposit some collateral. You can see on the dashboard the different assets that are accepted. You can either click “Deposit” or hover over the collateral of your choice to begin.
3. Once you have clicked “Deposit” you can choose your collateral and the amount you would like to deposit.
4. After the amounts have been set, you will be asked to confirm the transaction. Please keep some ETH in your wallet for any current and future fees.
5. Once confirmed, you will see your collateral displayed on the dashboard, now you can decide which synths you would like to generate.
6. Much like depositing, you can either click “Generate” or hover over your chosen asset to begin. Next, click the drop-down and choose the asset and amount you wish to generate. You will see your health factor at this stage so make sure you are comfortable with the amount before you confirm.
7. Just like before, when generating you will need to confirm another transaction so make sure you have enough ETH in your wallet.
8. Once you are happy, you can visit the dashboard to view all your details, such as collateral, health factor, and synthetics. Clicking on the health factor will bring up a more in-depth view of your collateral against your synthetic assets.
Synth Market
- For those who wish to take advantage of the zero-slippage marketplace, head over to “Synth Market” at the top and click “Swap” on your asset of choice.
2. In the swapping menu, choose the synths you wish to swap and input the amounts you are comfortable with, then hit “Swap”.
3. Once again this will trigger a transaction, therefore it will need to be confirmed, requiring gas.
4. Back in the dashboard you will be able to see your new balance in the “Wallet” section of “Synth Assets”.
Repaying
- In order to withdraw synthetic assets, users will first need to repay. Repaying will require the same asset originally generated. Clicking “Repay” will start the process.
2. Once in the menu, you can choose the amount and then confirm the transaction, again requiring some more gas fees.
Withdrawing
- If you would like to withdraw, simply hover over your chosen asset and click “Withdraw”.
2. This will bring up a familiar window and you can choose the amount you would like to withdraw. Once selected you will need to pay gas to do so.
3. After the transaction has been completed, you will see your balance decrease on the dashboard and funds returned to your connected wallet.
Feedback and Updates
Any feedback and suggestions during this testing period are encouraged and greatly appreciated as the team continues to work toward improving the protocol. Join our Discord to get involved. We thank everyone in the community for your support.
Follow us on Twitter as we release more about Synth’s features and how to navigate the application.
