Overview

  • Country USA
  • CategoryFinance/ Currency

Metronome is the world's first cross-blockchain cryptocurrency, making decentralization possible and delivering institutional-class endurance.

Project stage

Only a whitepaper

Detailed description

Metronome ("Metronome" or "MTN") is a new cryptocurrency focused on making greater decentralization possible and delivering institutional-class endurance. Metronome builds off the lessons learned from previous cryptocurrencies and optimizes for self-governance, long-term reliability, and maximum portability. Built by BloqLabs and supported by a diverse array of partners and advisors, Metronome is engineered to meet and exceed the high standards of the cryptocurrency community. 

As the first cryptocurrency capable of being exported and imported across chains, Metronome will be initially issued on Ethereum with Ethereum Classic, Rootstock on Bitcoin, and Qtum support expected to follow. Such portability will allow users to select the chain that suits their requirements for management and security, or even upgrade the MTN contract if needed. With the main goal of Metronome being a cryptocurrency that is built to last, portability furthers this goal by freeing Metronome from the fate of any one chain. 

Metronome will not be controlled by any party after launch not even its authors as it is completely autonomous. Metronome authors plan to continue to help by building an ongoing open-source community to support developers and users, but Metronome authors will have no access or control after the initial auction.

Problem

Some cryptocurrencies' mintage is either static or goes to zero over time – like Bitcoin , and Litecoin – raising 1 2 3 questions with economists about their long term viability.  Other cryptocurrencies’ token supply is 4 5 hand-stitched together in pre-ICO deals that award certain parties a vast amount of supply, resulting in those parties controlling the majority of tokens. Some cryptocurrencies sell out to certain parties in a pre-sale or private sale, leaving very little to the general public.

Solution

Metronome attempts to fix those problems with daily auctions that provide an on-going token supply mintage, ad infinitum. An on-going token supply mintage is theorized to provide sustainability versus other cryptocurrencies whose mintage either is or goes to zero. 6,7 The Metronome team expects that this will also encourage MTN holders to use the many payment features of Metronome. Utilizing those use cases, actually using it as a currency, may help solidify its endurance. The Metronome team also believes that an ongoing mintage also dilutes any potential disproportionate amounts purchased at a given time. Through Metronome, the team believes it is engineering something that is built-to-last. Longevity is Metronome’s main goal.

Features

Self-Governance

  1. No undue founder influence following launch
  2. Resistant to individual or community influence discord, disagreement, or misinterpretation
  3. Public access to all sale opportunities
  4. 100% on-chain, decentralized, and auditable
  5. Auction sale price determined by descending price auction

Reliability

  1. Predictable issuance and token supply
  2. New MET minted daily ad infinitum, at the rate that is the greater of (i) 2,880 MET per day, or (ii) an annual rate equal to 2.0000% of the then-outstanding supply per year

Portability

  1. Cross-blockchain portability allows provable export to and import from different contracts or blockchains:
    • Provides exit for users from chains for any reason
    • Further protects the cryptocurrency from management issues and instability
  2. Enables a migration path to future blockchains as the ledger technology platform matures, acting as a key value proposition for the long-term viability of all digital currencies
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Additional links

  • Token details

    • Token symbol ? Token symbol — a shorten token name. It is used during an ICO and after the coin listing at the cryptocurrency exchanges. : MTN
    • Fundrasing target ? Fundraising target — the maximum amount of funds to be raised during an ICO. When it is reached, the developers stop selling the tokens because they do not need to raise more money for the project development. : NA
    • Token type ? Token type — a platform for a startup launch that influences the stability of blockchain operation, the speed of transactions and the fees. :Ethereum (ERC223)
    • Soft cap ? Soft cap — the minimum amount of funds to be raised for the project development. Sometimes when the soft cap has not been reached, the money is returned to the participants. : NA
    • Role of token ? Role of Token — type of token depending on the opportunities it offers to its owner. Utility tokens give their owners a right to use the project services, security tokens are aimed at bringing profit, and currency tokens are a money substitute. :Currency token
    • Total supply ? Total supply — a total amount of tokens that will be released by the developers. :10,000,000 MTN
    • Escrow agent ? Escrow agent — a qualified agent who has the right of signature in a multisig wallet. An escrow agent participates in an ICO, monitors the financial operations of the developers and confirms their fairness. :No
    • Tokens for sale ? Tokens for sale — the number of tokens offered to the participants of an ICO. :8,000,000 MTN
    • Whitelist ? Whitelist — a list of participants, who get an opportunity to buy tokens. To be whitelisted, you need to register on time because the number of participants and the registration period are usually limited. :Whitelist Closed
    • Additional emission ? Additional emission — an additional release of tokens. It can be done once after the crowd sale or on an ongoing basis. In the projects with a limited emission there is no additional emission. :No
    • Exchange listing ? Exchange listing — an assumed date when the token will be listed at a cryptocurrency exchange. The developers usually indicate it in a roadmap and a white paper. :NA
    • Accepting currencies ? Accepting currencies — cryptocurrencies and fiat currencies that can be used for buying the project tokens. :ETH,
    • Can't participate ? Can't participate — the countries where it is prohibited to buy tokens. These can be countries where ICOs are prohibited altogether, or countries that have the requirements that a particular project does not meet. :No
    • Know Your Customer (KYC) ? Know Your Customer — a verification procedure for ICO participants, during which the developers can ask for personal data, a photo and a scanned copy of a passport of a potential investor. :Yes
    Get details
  • Token and Funds Distribution

    Token distribution date

    Jun 25, 2018

    Unsold tokens

    NA
      • Token Distribution

        • Funds Distribution

      Sale schedule

      Round Token Price Bonus Min / Max Purchase Soft Cap Hard Cap
      Initial Supply Auction — Ended
      18 Jun 00:00 UTC
      25 Jun 00:00 UTC
      0.0027815 ETH No - Uncapped Uncapped
      Initial Supply Auction

      The starting price in the initial supply auction will be (an intentionally high) 2 ETH per MTN, and it will descend by 0.0001984320568 ETH every 60 seconds toward its floor price of 0.0000033 ETH.

      Read more about vesting and bonus
      • Team

        • Jeff Garzik photo
          Jeff Garzik
          CEO & Co-Founder / Chief Designer
        • Matthew Roszak photo
          Matthew Roszak
          Chairman & Co-Founder
        • Peter Vessenes photo
          Peter Vessenes
          Chief Cryptographer
        • Ryan Condron photo
          Ryan Condron
          Principal Engineer
        • Troy Benjegerdes photo
          Troy Benjegerdes
          Principal Engineer
        • Jordan Kruger photo
          Jordan Kruger
          Data Scientist
        • Gabriel Montes photo
          Gabriel Montes
          Engineering Lead
        • Pablo Enrici photo
          Pablo Enrici
          Software Engineer
        • Ignacio Anaya photo
          Ignacio Anaya
          Software Engineer
        • Jaclyn Kramer photo
          Jaclyn Kramer
          Marketing
        • Dariusz Jakubowski photo
          Dariusz Jakubowski
          Community Advocate
        • Steve Beauregard photo
          Steve Beauregard
          Partnerships
        • Ted Parvu photo
          Ted Parvu
          Infrastructure
        • Matt Lam photo
          Matt Lam
          Blockchain Strategist
        • Iwona Zdanowicz photo
          Iwona Zdanowicz
          Administrative
      • Advisors

        • Gustav Simonsson
          Orchid Labs Co-founder & Former Ethereum Core Dev
        • Jim Newsome
          Delta Strategy & Former CFTC Chairman
        • Don Tapscott
          Blockchain Research Institute
        • Vinny Lingham
          Civic
        • Don Wilson
          DRW
        • William Mougayar
          Token Summit

      Roadmap

      • 3 Jan 2017

        Metronome idea

      • 24 May 2017

        Partnership with New Alchemy formed

      • 24 Oct 2017

        Metronome website and Owner's Manual published

      • June 2018

        Metronome Initial Supply Auction

      • Q3 2018

        First cross-chain launch on ETC

      Activity