MetronomeDAO

✅ With the passing of MIP-015, the MetronomeDAO has greenlit the introduction of esMET, a refined vote-escrow tokenomics model for $MET.

This enables users to lock their tokens in return for various benefits. Learn more and unleash the power of esMET 👇
buff.ly/3ZC1Vye

Incentives on @CurveFinance go live in 2h!

Projected LP APRs:
• msETH/WETH: 4.25 - 10.63%
• frxUSD/msUSD: 7.63 - 19.08%

msETH/WETH was the top gainer in CRV gauge emissions this week.

Stake your LP tokens through @StakeDAOHQ to access boosted CRV rewards.

Aero is coming.

Metronome is on board.

At launch, Metronome plans to migrate protocol-owned liquidity to Aero, the unified liquidity layer for Ethereum 🛫

Metronome has fully closed the underbacking disclosed on July 30 and built a surplus of 281,774 msUSD and 262 msETH on top of it.

With backing restored, msUSD and msETH are expected to return to 1 USDC and 1 ETH.

Read more:
paragraph.com/@metronomedao/…

Update regarding the Metronome Synth underbacking disclosed on July 30:

The dune dashboard, which is linked at the bottom, tracks underbacking in real time.

Since the last update, underbacking has changed as follows:

* 4,788 ==> 1,550 msETH (3,238 msETH improvement)
* 3.07m ==> 7.75m msUSD (4.68m msUSD increase)

In dollar amounts, the underbacking has improved considerably over the last two weeks. Additionally, the msETH "skew" has now been properly mitigated.

As such, swap fees have been increased across the board, inhibiting open market swap activity. The treasury may still manage any skew via its msAsset inventory contract, as it has for the past several weeks.

The market for synth assets has fluctuated tremendously over the past two weeks, and continues to be volatile. As of now, OTC buybacks remain paused.

As users have pointed out, the "Metronome Synth Inventory" multisig wallet, found at 0x24932A15c8871eE8f0bbF7f50C82984151C0C941, was not properly tracking in the Dune dashboard. That has now been fixed.

Users additionally pointed out that external funds deposited into MetBasis and AMO contracts (vamsETH and vamsUSD) were erroneously excluded from the circulating supply. This has additionally been fixed. Roughly 280 msETH and 200k msUSD deposited into AMO contracts, plus an estimated ~400 msETH and 1 million msUSD deposited into MetBasis, now correctly display as in circulation. This means that the net underbacking actually improved by almost 700 msETH and over 1 million msUSD more than the delta from the last update, as those circulating assets count against the total backing.

dune.com/dom_xyz1549/me…