# esMET
Currently, $MET serves as the governance token for the Metronome ecosystem. However, the broader vision for $MET goes beyond just governance, with tokenomics being used to enhance the overall user experience and address long-term limiting factors, such as liquidity. A notable development in DeFi tokenomics was the adaptation of the vote-escrow model, first championed by Curve. Their integration of governance, staking, and liquidity pool rewards enabled the CRV token to revolutionize liquidity provision. Building on this, Andre Cronje's approach of the ve(3,3) model - first proposed in Solidly which draws inspiration from Curve's vote escrow and Olympus' 3,3 model - has been implemented in projects like Velodrome with great success. In earlier systems, users simply locked their tokens to gain benefits, which disappeared once the position was closed. The vote-escrow model, however, added an element of choice and predictability. Users selected how long they were willing to lock their tokens for, which, in turn, provided users certain privileges, as well as giving a clear view of how many tokens were locked up at any given moment. This level of transparency led to a more stable token amidst volatile market conditions. Due to its success, this has led to many protocols molding their treasuries, liquidity, and incentives around this model, with the goal of being more sustainable and future-proof. Yet, while the advantages of vote-escrow are clear, it came with its own set of challenges. A commitment of up to four years (within Curve) for locking tokens can be daunting for many. Not only that but the decay mechanism built-in means users need to continuously relock to retain maximum benefits. The ve design also restricts token transfers once locked, which ultimately led to workarounds like Convex, whose strategy is based off pooling and locking CRV tokens on a user's behalf, then issuing a transferable wrapper token back to them. The demand for such solutions has been evident in their control of the current locked CRV weight. While the foundation of Metronome draws inspiration from what Curve does effectively, there are distinct differences in the approach, especially when addressing the ve model's challenges. **Transferability:** In Metronome, esMET positions are encapsulated as ERC-721 tokens. This design choice enables the transfer of positions on the open market, providing users with greater flexibility. **Early Exit:** Users aren't bound to their positions for the full duration. esMET enables early exits, offering more control over token commitments. **Multiple Positions:** Unlike models where a single user is limited to one position, Metronome enables users to hold and manage multiple esMET positions simultaneously. Note: Managing multiple positions might require additional attention. --- # Agent Instructions: Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter: ``` GET https://docs.metronome.io/tokenomics/esmet.md?ask= ``` The question should be specific, self-contained, and written in natural language. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.