What is Metronome?
Metronome is the first cross-chain self-governing cryptocurrency. Its major objective is to become the dominant currency for transactions between various chains, acting as a more dependable store of value and the basis for decentralized applications. The Metronome network essentially consists of a robust monetary system and an autonomous crypto asset. You can see the live MET price on the Metronome price chart above.
The platform has developed a feature called Chainhops. It allows users to move MET crypto assets from one blockchain to another. This is a feature that sets Metronome apart from other similar platforms that use a process called "token swapping" instead of Chainhops.
Who Founded Metronome?
The Metronome crypto project was co-founded by Jeff Garik and Matthew Roszak. The team launched the project in October 2017. However, it was not until mid-2018 that they released the MET crypto asset.
Since Metronome is governed by the community, the founders are not the ones calling the shots. They are now just members of the community who continue to develop and grow the Metronome ecosystem by building and expanding the platform.
Use Cases of MET
MET is based on the ERC-20 token standard and stored on the Ethereum network. In terms of the use cases of Metronome coins, primarily, MET tokens act as a store of value that can be transferred across various chains in a decentralized manner. Besides, MET tokens allow users to make multiple transactions to different wallet addresses with one click.
Moreover, MET tokens can be used to make recurring payments. This is the case due to Metronome's subscription feature. Every month or week users can authorize a certain amount of MET tokens to be deducted from their wallet to pay for services or be sent to their friends and family.
Lastly, MET tokens grant holders governance rights. This means that, in order to be a part of the decision-making process concerning the future of the Metronome crypto project, users must hold MET coins.
MET Tokenomics
When the MET token was launched, its initial supply was 10 million MET. Out of that 10 million, 80% was distributed through a public descending price auction, while the remaining portion was given to the founders. Though there's no max supply set as new MET tokens are mined every day through the aforementioned price auction. The reason for that is to prevent massive sell-offs by early adopters or users, which could have an impact on the MET price. This gives it the appearance of a metronome, or a beat, which also explains the idea behind the project's name.
Don't forget to check the current MET price on the Metronome price chart above.
