Metronome launched in 2018 as arguably the first DeFi project with an autonomous mintage system and its own Automated Market Maker (AMM).
Reimagined over the summer to bring the project more parallel with DeFi’s current expectations, Metronome is focusing on delivering Metronome Synth — a way to represent non-DeFi-native crypto assets within DeFi such that they can fully utilize the latter’s capabilities.
As outlined in a Metronome Improvement Proposal (MIP), Metronome Synth comes as the first offering via the newly configured MET DAO. It allows users to stake collateral from existing holdings, creating synthetic versions of popular crypto assets. Further, the upgraded Metronome token (MET 2.0) will allow users to experience slippage-free swaps between desired assets.
For Vesper, user positions are ready-made for synthetic minting collateral. A key here, again, is access to a non-EVM tokens, along with still more yield farming and no further exposure. Vesper users will be able to take on these activities with no change to their existing Vesper exposure – no project-based TVL incentivization, no VSP emissions. Ultimately, should the formula prove worthy, Metronome Synth TVL through Vesper could very well support both projects. Follow @metronomedao on Twitter for further updates.