Metronome’s Initial Supply Auction — Quick Glance Price Chart

Hello Metronome Community,

The Initial Supply Auction will last up to 7 days and will use a descending price model as its auction mechanic. The starting price will be 2 ETH per MTN, descending by 0.0001984320568 ETH every minute, and the ending price on day 7 will be 0.0000033 ETH (unless the initial supply of MTN is sold out before then). A high level view of the price regression looks like this:

Potential purchasers can do a little bit of math to figure out what they deem a fair price to purchase during the Initial Supply Auction. Of course other purchasers may have a different idea of a fair price and the initial supply may sell out sooner as a result.

The Metronome Team has made a quick chart for potential purchasers. It outlines the price of Metronome in Ethereum every four hours, assuming that the initial supply does not sell out before the end of the seventh day.

Hopefully this price chart was helpful for potential purchasers. For those who would like a more granular view, they can create a spreadsheet to map out the price minute by minute. One way to do so is to populate a spreadsheet with 10,080 rows (for all possible 10,080 minutes in the initial auction), with a column beginning with 2 (the price in ETH of MTN). Then for every minute in the auction, subtract 0.0001984320568 ((2–0.0000033)/10079) from the previous price. This will provide the most granular possible view of the price of MTN per minute. For Microsoft Excel and Google Sheets, once the pattern of subtracting 0.0001984320568 from the previous cell is obvious (should take about 3–4 cells to ensure this, the user should highlight these pattern setting cells), a small box will appear at the bottom right of the cells highlighted. Dragging this all the way down will apply the pattern to the whole column, automatically populating the column for the user.

Conclusion:

The Metronome team expects this chart to be helpful for potential purchasers to identify prices they feel as fair during the course of the Initial Supply Auction, and encourage those who wish to make the minute-by-minute spreadsheet who wish to do so.

More to come,

The Metronome Team

UPDATE: For various reasons, the Metronome team has chosen to use the new symbol “MET.”