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A total of 10,620,924 MET and 8,306 ETH has been allocated to the MET DAO treasury (8,620,924 MET excluding Liquidity allocation). The MET DAO treasury will not be able to propose or participate in any voting. This allocation was transferred to the new MET DAO from the Metronome 1.0 ACC. The majority of these funds will remain in the primary treasury multisig wallet. The purpose of the MET DAO treasury is to fuel the continued development of the Metronome ecosystem by providing funding for new Metronome products and collaborating with leading DeFi projects. Treasury funds may be deployed per the voting outcomes of the MET DAO participants.
The MET DAO treasury will also be utilized to provide protocol-owned liquidity across leading DEXes. The MET tokens held in the Uniswap v3 trading pair cannot be voted with until acquired by a user. Initial liquidity is posted as follows:
250,000 MET and 272,500 USDC (converted from ETH); 0.3% fee tier; full range coverage.
Note that concentrated range liquidity from the remaining 1,750,000 allocated MET will be voted upon following migration.
In addition, a satellite wallet is planned that will fund ongoing operations. This wallet will be a separate multisig wallet with separate signers that will hold a modest amount of MET that will be utilized at the discretion of the signers for ongoing operational expenses.