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- MassPay which allows lower fees. Dash will also have this feature when Evolution is released.
- Coin Stability: Delivering Metronome tokens daily at the market price, this generates more coin. 0.25% of which is used to stabilise the prices, by buying tokens on the open market.
- Tokens can be moved across different blockchains, meaning Metronome tokens will eventually be moved on the EOS, QTUM etc.
- The first coin to offer “ERC20 mining”
- Metronome will allow users to move Bitcoin onto the Ethereum chain and vice versa.
- Block time: 15 Seconds (the same as the Ethereum blockchain)
- Total supply: 10,000,000 MTN during the ICO
- Inflationary: There will be daily auction creating more coins.
- Use of token: Decentralised store of value
- Founders reward 20% – 25% of which will be unlocked upon the end of the auction and the rest staggered quarterly.
ICO Details
- Descending price Auction: ” The price per MTN will begin at a maximum price of 2 ETH per MTN, with a floor price of 0.0000033 ETH. As time progresses and MTN remains available, the auction price will decline linearly until the auction ends or all MTN are sold. Metronome employs DPAs to establish predictable and transparent pricing for the MTN being issued by the contract.” (Extracted from the FAQ)
- ICO Start: February 5th
- No Presale
- Max 1,000 ETH per transaction
- KYC needed: Yes
- The founders have credibility in the Crypto community. (Although Jeff Garzik was pushing Segwit 2x, which IMHO was pro Bitcoin miners and anti-Bitcoin users)
- Kind of similar projects to Metronome are Wanchain and Blocknet
- Vinny Lingham founder of Civic is listed as an advisor to the project
- Cross blockchain platforms if successful will grow with the projects they are connected with.
- Metronome is being created by Bloq, an organisation which helps organisations interact with the “internet of Blockchains”; the advantage of BLOQ over other ICOs is that they have their finger on the market pulse. This would give them an advantage in terms of designing a product which the market is asking for.
- ETH, QTUM, GAS and NEO are essential utility tokens; they need to have an attractive, good utility to price ratio when this ratio becomes unattractive they lose market share. Still, some of these coins have been used as a store of value, rather than a store of utility. The founders of utility coins objective is not to create a store of value; eventually, they will manipulate the economics of a token to remain competitive as a utility. In such an environment, cross blockchain stores value will be a valuable niche.
Concerns about Metronome project
- Atomic swaps are already taking place between certain blockchains, this reduces the advantage of having a single token that can do so. Atomic swaps at this time are also better understood and tested than any one coin.
- Metronome technology to move coins across blockchain is new and has not been stress tested. There is potential for coins being lost when the Metronome system is used, in addition, each time a network makes a new release the chance of an error in the traversal from one blockchain to another increase.
- The white paper does not specify what type of blockchains will it Metronome support.
- The whitepaper is sketchy on the full technical details of the project. While the description of the project intentions is extensive, there are very little technical details on how this will be implemented. The roadmap provides limited details on the deliverables and the timeline.
- The founders of the project will no longer control the project after the ICO, it is unclear on how future development will be funded.
The success of the Metronome investor depends heavily on the price at which the funds is collected. This ICO is being pumped by the usual suspects on youtube and blogs, which will probably make the tokens sell out fast and at an expensive price.
The cryptocurrency market is a cutthroat and competitive place with participants tied to specific coins and platforms. There are several projects which are trying to be the cash or gold of the crypto world.
Utility tokens can prove their worth easily, through the tangible utility. Stores of value, on the other hand, are much more difficult to establish as they need a solid reputation, proof of concept over a certain time period, endorsement by trusted industry players and a strong demand. Metronome has some of these ingredients but not all of them, time will if this project will be a success.
- Metronome: metronome.io
- Metronome FAQ: https://github.com/
MetronomeToken/documentation/ blob/master/FAQ.md