Metronome
  • Metronome Synth
    • Introduction
    • Treasury Management
    • Protocol Owned Liquidity
      • External Liquidity
    • The Metronome Token ($MET)
    • Metronome Synth Protocol
      • Metronome Synth Features
      • Metronome Dashboard
      • Liquidations and Collateral Factors
      • Productive Collateral
      • Supported Assets
      • Synth Marketplace
      • DeFi Ecosystem
      • Metronome Synth Mintage and Deposit Caps
    • Risks
      • Liquidation
      • Black Swan
      • Oracle Disruptions
    • Metronome Revenue Model
    • Metronome Synth Glossary
    • Contracts
  • Smart Farming
    • Introduction
    • How Does it Work?
    • Competitive Advantages
    • Step-by-Step Guide
    • Loopage
    • Auto Repay
    • Risks
    • FAQ
  • Tokenomics
    • esMET
    • Governance
      • Lock MET
        • How to Lock MET
      • Early Unlock
        • How to Unlock MET
    • Trading Fee Discount
  • Contract Overview
    • Liquidation
    • Pool
    • Fees
    • Rewards
  • Metronome 2.0
    • Introduction
    • MET Tokenomics
    • Metronome DAO
      • Voting and Participation
      • Treasury Management
      • Metronome Improvement Proposal (MIP) Template
    • FAQ
    • Glossary
  • resources
    • Official Links
    • Brand Assets
    • Metronome 1.0
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  1. Tokenomics
  2. Governance

Lock MET

Locking $MET

Users can directly lock their $MET tokens to receive esMET in return. When users decide to lock $MET in exchange for esMET, the amount they receive isn't just a straightforward conversion. Instead, it considers the maximum boost (a fixed value of 4), lock-up duration, and the maximum lockup permitted (2 years/730 days). Notably, unlike some other protocols such as Curve, esMET does not have a decay over time, and will not require relocking to maintain maximum benefits.

To work out how much esMET you will receive, use the following formula:

Boost: MaxBoost * Lockup Duration / Max Lockup

Boosted Balance: Balance * Boost

esMET: $MET Balance + Boost Balance

Example:

Suppose a user decides to lock their 1000 $MET tokens for a period of 2 years (730 days). Using the formulas above:

Boost: 4 * 730 / 730 = 4

Boosted Balance: 1000 * 4 = 4000

Total esMET Balance: 1000 + 4000 = 5000 esMET

esMET is designed to be transferable (as an ERC-721 token), enabling users to directly send or receive it. This means that even users without any $MET can hold esMET, whether they receive it from Metronome as an incentivized reward or from another user.

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Last updated 10 months ago

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