METF’s first strategic reboot

7 min readApr 9, 2022

Re-Engineered for a more sustainable growth

Hi burrow, this is our first ever update we are implementing to our Dex-Traded-Fund (DTF). This set of changes come at a time after huge interest has been shown in METF since its inception just under 1 month ago. The METF token has boomed from a $1 million market cap token to a market cap of close to $73 million now. Prices recently broke out into an all-time-high after the release of the Pegasus Dollar protocol launchpad that provides huge earning potential for the METF token.

The METF token acts as an index for the health of the MM ecosystem. Recent price action has gone against this fundamental fact, and hence the team will be making adjustments to ensure the METF token represents a fairer value of itself. Before that, let us take a look at some platform statistics.

Platform statistics

Today, the METF has more than $30 million USD in assets under management (AUM). This is a whopping huge growth in 1 month vs the < $3 million USD it has started with. The majority of the AUM holdings is currently locked as SVN-MMF, which is superbly ideal for METF, seeing as it has a backing strategy against the MMF token (SVN is a mirrored asset of MMF, hence it acts as perfect backing).

Understanding the statistics

It is all fine and dandy to see growing numbers because that is generally bullish. However, this does come at a cost — dilution to existing METF holders. As we recall, there are 2 main ways to earn METF:

By staking
By purchasing bonds.

When a user purchases bonds, they get METF tokens, and because the protocol has been rather aggressive in securing assets, dilution has happened for all METF holders. We can observe this phenomenon when we see a booming market cap against a lacklustre price action. Dilution is not necessarily a bad thing because it presents an opportunity for the truly bullish ones to accumulate more METF tokens to a point in time where strategic resets are made to boost token value. In this case, we are precisely about to implement a strategic reset.

Strategic reset

As we know it, the METF protocol is governed by multiple policies and strategies to grow its backing and token value over time. Today, our team will unveil the following set of changes to boost token value.

Less aggressive bond sales

We will be heavily reducing the bond discount to reduce dilution to current METF holders. The reason that this is a sensible decision now, is because the AUM is very healthy at $30million USD in assets. Overtime, because these assets have been placed in yield farming strategies, it will grow organically overtime.

Huge burning strategy

The team will now look to actively lower the market cap through the burning of METF tokens through a refined strategy. The team will be investing METF from the protocol’s treasury into Pegasus Dollar via a separate DAO wallet (address: 0x5F1c0aE2807612de4DE2847A0F93945Cd013887e) to earn a healthy APR. All METF, PES, SPES tokens that are earned from this act will be sent to the furnace. The team is looking at an investment quantum of between 1–5 million USD to be dollar-cost-averaged over time. The reason why this is a sensible strategy is for many reasons.

Buying METF-pegged assets with the use of METF does not dump METF prices (it is a market neutral act)
This will shore up interest and demand in METF ecosystem assets to create a flywheel effect of funds returning into the METF ecosystem, allowing us to now have a fairer value of the $METF token being represented against the health of a currently positive ecosystem
This strategy acts as a loan from the METF protocol, where it will eventually be returned in the form of token burns that is sure to exceed the original amount invested (The DCA will only start after the launchpad on 8th April to create the maximum impact)

Liquidity mining incentives

Currently, there is Protocol-Owned-Liquidity (POL) locked in the AUM, but it is not as ideal as we would have hoped. This creates wild swings in price that hurts METF holders. This is also why the team will be setting up a METF-MMF > METF farm to promote the provisioning of liquidity. More liquidity will equate to a more stable price, resulting in less volatility.

What this means

Creating a supply crunch with new earning potentials for existing METF holders will result in a huge boost to token value. All assets pegged to METF will receive higher if not similar boost in value. The AUM is now entering a passive mode where it seeks to grow organically over time, while allowing the METF ecosystem some time to mature.

Ending note

The team would like to take this opportunity to address some community concerns. We have observed many unpleasant conversations taking place in some of our social channels. This is observed from new entrants to our ecosystem and also some of our veterans. It is rather saddening to see our intentions being questioned. In reality, our team cares about this ecosystem health more than anyone else does, and all our decisions (whether it is a launchpad decision) is a strategic one. It has always been to boost ecosystem value. Many of you do not see it, but this is also how we have managed to bring $MMF from a < $10 million market cap coin to an over $300 million market cap coin that it is currently, locking in over $1.2 billion USD in liquidity currently. Our team does not ask for your full understanding, but it certainly could bring some positivity in your lives if you were to view from our angles, to understand why we are doing what we are doing!

We let our results speak for itself. These are what we have achieved so far in just 4 months:

MMF: $0.2 > $1.6 (8x)
MMO: $4 > $13 (3.25x)
SVN: $0.6 > $2.1 (3.5x)
METF: $12 > $170 (14x)
MAD: $0.5 > $16 (32x)
MSHARE: $19,450 (fair launch)
MMB: 299 CRO > 8,300 CRO (27x)
MMT: 800 CRO > 9,600 CRO (12x)

Data as of 9th April 2022

Also, abuse hurling at partner projects is a very childish thing to do. We are all adults here (most of us), and it is only sensible to enter into intelligent discourse, rather than to throw baseless accusations. We thank all the community members that have been taking their time around chats to provide calm intelligent perspectives.

For those of you who are still new to our ecosystem (or those who have already forgotten how things work), launchpad events generate HUGE interest. They generally cause a huge rotation of funds within the ecosystem. Most assets start to see huge downside 1–1.5 weeks before the actual launchpad, and generally see believers re-enter after launchpad, giving some of these oversold tokens a nice relief rally. The only caveat? When some of these believers see the amount of negative nonsense thrown about, they tend to have second thoughts — and this is true for all crypto investments when admins tend to tell users to stop spreading Fear, Uncertainty, Doubt (FUD). Keep the negative emotions to yourselves to stop harming your own investments (On this note, please do not verbally abuse our volunteers who are there to help users. They are helping out of their goodwill and do not draw a salary. So please show them some respect.)

Lastly, many of you might be emotional and frustrated because you have over-invested. We do not dole out financial advice, but it is with certainty that a diversified portfolio is guaranteed to provide you with less frustrations than when you decide to throw all (if not majority of) your capital at new launches. Do not over-invest your capital and emotions as that leads to you making worse decisions. Always DYOR and invest within your means.

❤️ With that, our team ends off with much love for our community. This strategic reset of ours is a signal to you that we have an ear on the ground, and a heart in the right place (because we care!). But we need you as the community to do your part, and grow together with us in our quest to build the biggest DEFI ecosystem nobody has ever seen!

Coming soon…

Limit Orders, Cross-Chain Bridge, StableSwap and More……

#LFGM 🚀