Further the utility of your vacbETH by depositing it as collateral and generating synths via Metronome
Metronome’s latest addition to the collateral asset lineup, vacbETH, is the Vesper position of Coinbase’s liquid staking token that enables users to navigate the DeFi landscape while still being able to participate in Ethereum’s Proof of Stake system.
With this integration, Metronome Synth offers a seamless way for users to deposit their vacbETH and instantly generate synthetic assets from the available range of options.
Users who deposit their vacbETH into Metronome Synth will be able to generate synthetic assets right away, all while still earning rewards on their original deposit in cbETH and yield from Vesper. This type of capital efficiency enables users to further the utility of their tokens and maximize potential gains.
How to Deposit vacbETH into Metronome Synth
- Head to the Metronome Synth app.
- Select “Deposit”.
- Choose your collateral; in this case, “vacbETH”.
- Enter the amount and click “Deposit”.
- Confirm the transaction (make sure you have enough ETH for gas the fees).
- Once confirmed, you will see your collateral amount on the dashboard.
- Next, click “Generate” and select your synth of choice.
- Input the amount and double-check your health factor.
- Confirm the transaction just like before, ensuring you have enough ETH for the transaction.
- Visit the dashboard to see your newly generated synths and stats.
For a more comprehensive overview, please check out our guide. You can withdraw your original funds and additional rewards at any time.
Keep up with Coinbase
Feedback and Updates
Any feedback and suggestions during this beta 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.