The End of the Initial Supply Auction
Congratulations Metronome community!
We are pleased to announce the launch of an autonomous decentralized financial product, Metronome. This unique event successfully bootstrapped and funded the Metronome smart contracts, starting down the decentralized flight path of a brand new cryptocurrency.
The descending price auction discovered the market price for Metronome, and allowed purchasers to purchase MET at the price they deemed fair.
In the Initial Supply Auction, a total of 8,000,000 MET was sold with the closing price of 0.0027815 ETH.
The first Daily Supply Lot began minutes after the Initial Supply Lot ended. A total of 2,880 MET were sold with the auction closing price of 0.005563 ETH.
You can view the contracts as they operate in real time.
For those adding MET as a custom token to an ERC20 wallet, you may need the following information:
Daily Supply Lots will run each day starting at midnight UTC. Just like the Initial Supply Auction, purchasers will receive their MET almost immediately at the price of purchase. Also, just like the Initial Supply Auction, the Daily Supply Lot auctions descend in price until the supply is exhausted.
Additionally, the community can now begin to use the Autonomous Converter Contract (ACC), changing ETH-MET and MET-ETH. There is a native interface in the Metronome Wallet.
The conclusion of the Initial Supply Auction marks a key milestone for Metronome, but it is only a beginning. Today marks the system’s first steps toward true, robust autonomy.
-The Metronome Team