How to Purchase Metronome from the Metronome Wallet

Metronome Token
Jun 16, 2018 · 6 min read

Hello Metronome community,

This guide explains how to purchase MET through the Metronome Wallet, in both the Initial Supply Auction and Daily Supply Lots. (If you would prefer participating using the auction board on Metronome.io instead of the wallet, 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 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 should 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 with the Metronome Wallet

In order to purchase MET with the Metronome Wallet, the user must have downloaded the latest version on Metronome.io and installed it on their device. Note: purchasers may also use the auction board via MetaMask or directly interact with the auction contract address itself: 0x9d9BcDd249E439AAaB545F59a33812E39A8e3072.

Purchasers can download the Metronome Wallet by clicking “Buy Metronome” on Metronome.io and then clicking “Download Metronome Wallet.” Alternatively, it can be downloaded on Metronome’s Apps page.

The purchaser should download and install the Metronome Wallet. Upon set up, the purchaser will be shown a seedphrase. It is important to protect this seedphrase, keep it secret, and store it in a safe place.

The purchaser will then be asked to enter the seedphase back, to confirm they had copied it correctly.

Next, as described above, the purchaser should send the ETH to their Metronome Wallet address, located at the top right of the Metronome Wallet.

Now that a purchaser has ETH in their Metronome Wallet, they can participate in the MET auctions.

The purchaser will go to the left side of the Metronome Wallet and click “Auction” to begin engaging with the contract address.

The Auction tab shows a dashboard of live metrics. The sample here shows a hypothetical Daily Supply Lot where very little of the Metronome from the Initial Supply Auction was sold. The purchaser deems this price fair and clicks “Buy Metronome.”

An overlay appears and prompts the purchaser to enter the amount of ETH they wish to spend. The purchaser will put in the amount and then click “Review Buy.”

The user will then review their purchase, enter their password, and press “Confirm” to initiate the transaction.

Provided their password attempt was correct, they had sufficient ETH for their purchase, and the auction had sufficient supply for the transaction, the purchaser will see this confirmation of their purchase.

The purchaser (now owner) can see their transaction under the “All” and “Auctions” tab of the transaction history on the start page. Purchasers will receive their MET almost immediately after purchase at the price they purchased. MET purchased during the Initial Supply Auction will become usable following the close of the Initial Supply Auction while MET purchased from the Daily Supply Lots will be useable upon receipt.

But what if an owner wants to see their MET transaction on the blockchain?

The owner can click on the transaction to view basic data about their transaction. They can view even more granular detail by clicking on “View in Explorer.”

Here, the owner can see their transaction on the blockchain via the Metronome explorer.

The purchaser has successfully purchased MET and is now an owner. But what if the Daily Supply Lots ran out of supply, but a purchaser still wishes to purchase MET? They can utilize the Autonomous Converter Contract, which can be interacted with via any ERC20 wallet, but the Metronome wallet provides immediate data for viewing.

Purchasing MET with the Autonomous Converter Contract

The Purchaser clicks on “Converter” on the left side of the Metronome Wallet application. They’ll see the current price of MET to ETH, the available MET, and the available ETH in the contract at the current moment. To start, the purchaser will click “Convert.” Note: the price of MET to ETH and ETH to MET in the Autonomous Converter Contract is calculated by the ratio of current contents of the contract itself (see the Owner’s Manual for the math behind the price).

In this scenario, the purchaser wishes to purchase MET from the Autonomous Converter Contract, enters the amount they wish to purchase, and clicks “Review Convert.”

The purchaser will be prompted to review the conversion, enter their password, and click “confirm.” Provided the password is correct and the user has the necessary funds for their transaction, the conversion will begin.

The Contract begins converting ETH for MET, and the user will view this screen as it performs the conversion.

Once the conversion is successful, the purchaser will see the above screen. The purchaser can view the transaction in the transaction history section of the Metronome Wallet.

The process for selling MET for ETH is the same, but the conversion starts with MET.

In this scenario, the purchaser wishes to purchase ETH from the Autonomous Converter Contract, enters the amount they wish to purchase, and clicks “Review Convert.”

Again, the purchaser will be prompted to review the conversion, enter their password, and click “confirm.” Provided the password is correct and the user has the necessary funds for their transaction, the conversion will begin.

The Contract begins converting MET for ETH, and the user will view this screen as it performs the conversion.

Once the conversion is successful, the purchaser will see the above screen. The purchaser can view the transaction in the transaction history section of the Metronome Wallet.

Conclusion

Purchasing Metronome through the official Metronome Wallet is easy. Purchasers will first download the Metronome Wallet, install it, and fund it with ETH. Once funded, purchasers can purchase without ever leaving the application by navigating through the flow for both auctions (the Initial Supply Auction and Daily Supply Lots) or the Autonomous Converter Contract — once the Initial Supply Auction has ended.

More to come,

-The Metronome Team

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