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A key feature for Metronome Synth is the ability to deposit yield bearing assets as collateral to mint synthetic assets. Users can then enjoy greater capital efficiency as their collateral is then productive.
Currently, Metronome Synth accepts select pool tokens from Vesper Finance.
- User deposits USDC into the Vesper Finance USDC pool and receives the vaUSDC token.
- vaUSDC is a yield bearing token, so over time the user earns additional USDC on their deposit.
- User then takes the vaUSDC tokens and deposits them as collateral on Metronome Synth.
- This collateral can now be used to mint synthetic assets.
- Their USDC continues earning yield in the Vesper pool while it simultaneously acts as collateral.