How to Purchase Metronome from the Auction Board

Metronome Token
Jun 16, 2018 · 5 min read

Hello Metronome community,

This post explains the process to purchase MET through the metronome.io site portal, in both the Initial Supply Auction and Daily Supply Lots. (If you would prefer participating using the Metronome wallet instead of the portal, we have instructions for that as well). The basic process is as follows:

  1. Purchase Ethereum (ETH), and store in an ERC20-compatible wallet.
  2. Purchase Metronome (MET) by sending ETH to auction.

Purchasing Ethereum

To participate in the Initial Supply Auction, purchasers will need to have ETH and an ERC20-compatible wallet. ERC20-compatible wallets are a specific kind of Ethereum wallet that can safely store and manage ERC20-Tokens. There are many to choose from, and purchasers should choose the one that makes the most sense for them. The Metronome Wallet is an example of an ERC20-Compatible wallet.

Next, purchasers will need to fill their wallet with ETH, the Ethereum network’s token. A purchaser can buy ETH from an authorized exchange that makes sense for them. Note: Purchasers should not use an exchange’s wallet for participation in the Metronome auctions.

Then, purchasers must send the ETH they purchased on the exchange to their ERC20 compatible wallet. Now, purchasers can participate in the Auctions, and can go to Metronome.io to get started.

Purchasing Metronome

After arriving on Metronome.io, the purchaser will see the auction dashboard card on the homepage during the Initial Supply Auction. For Daily Supply Lots, purchasers will click the “Auction” tab in the top right of the navigation bar.

Purchasers will also be able to access a more in-depth version of this dashboard by clicking “Visit Dashboard” below the auction dashboard card.

Purchase flow

Prior to clicking the “Buy Metronome” button, the purchaser must ensure that they have an ERC20-compatible wallet in which they hold the private keys. There are numerous options for this, and each purchaser should research which they would like to use for participation. Purchasers can use a wallet offered by a third party (such as Jaxx) or directly participate in the auction via the Metronome wallet app. (We also have a guide for using the Metronome Wallet .) Note: Do not use an exchange wallet for directly purchasing MET, as these often are not ERC20-compatible and do not relinquish control of private keys to owners.

Next, purchasers will need to fill their wallets with ETH, if they have not already. If a purchaser does not currently have any ETH, ETH can be purchased from an authorized exchange. Purchasers should use an exchange that makes the most sense for them.

Now that a purchaser has an ERC20-compatible wallet with some ETH in it, they can participate in the auction itself.

To purchase MET, the purchaser should click “Buy Metronome” to start. The next screen they’ll see will offer three options for participation, via MetaMask, via the Metronome wallet (providing the download link), and via auction address/QR code.

Purchasing via MetaMask

For now, let’s focus on purchasing via MetaMask. MetaMask is a useful extension with robust security and privacy features. To use this purchasing method, purchasers will click “Buy with MetaMask” and will be directed to a screen where they can enter the desired amount of MET they wish to purchase.

If the purchaser does not have the Metamask extension opened, clicking the “Review MetaMask Purchase” button will prompt the purchaser to log into their MetaMask account.

If the purchaser is logged in to MetaMask, they will be able to purchase their MET via the MetaMask extension after clicking “Review MetaMask Purchase.”

Once completed, the purchaser will see a screen providing transaction details such as transaction hash, block hash, rate, and so forth. From here, the purchaser may make another purchase or view their purchase in the Metronome explorer.

If a purchaser attempts to purchase more than is available via MetaMask or attempts a

purchase after the auction has ended, an error screen will appear.

If a given auction has ended, but a purchaser attempts to access the auction tab on metronome.io, they will see a screen with the next auction’s information and disabled purchase button. Purchasers will still be able to access the in- depth dashboard from this screen.

Purchasing via QR Code or Contract Address

Purchasers may also use the contract address and QR code should they wish to use their own ERC20 wallet, not via MetaMask or the Metronome wallet. In this case, the purchaser would navigate to the screen where they are presented with purchasing options by clicking “Buy Metronome.”

There, they will see the contract address. The Metronome Auction contract address is: 0x9d9BcDd249E439AAaB545F59a33812E39A8e3072. To ensure accuracy, the purchaser will copy and paste the auction contract address. Alternatively, the purchaser will scan the QR code of the address. Once they’ve copied or scanned the address, the purchaser will send the amount of ETH they want from their ERC20 wallet to that address at the time they deem a given price fair. Once the block containing their purchase is mined, they will receive their MET, sent to the ERC20 wallet that made the purchase. This option is as simple as performing a regular transaction, however, should a purchase exceed available supply the purchaser will receive a refund of the unspent difference minus gas.

Conclusion

Purchasing MET through the auction board on Metronome.io is a straightforward process. Purchasers can also initiate the Metronome wallet download from this pop-out, or chose to purchase via their own ERC20 compatible wallet. After purchasers successfully send their ETH, they will receive their MET almost immediately at the price they paid once the block containing their purchase is mined. MET purchased during the Initial Supply Auction will become useable following the close of the Initial Supply Auction while MET purchased from the Daily Supply Lots will be useable upon receipt.

More to come,

-The Metronome Team

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