[ANN] Metronome, an autonomous cryptocurrency with predictable supply

[MTNToken]

This is a project worth watching! With so strong team it must success!

I have never seen a decreasing auction - For sure it will be an interesting experience.

Consider creating a signature campaign please. 2 ETH per single token is definitely too much for me, so maybe for the support of project I will be able to collect a little..

The thing it is the starting price of the auction. So there is a chance if there are no buyers until 0.01 ETH, the price becomes .01 ETH, if I understand correctly?

Hello,


So yes, the starting price in the initial supply auction will be (an intentionally  high) 2 ETH per MTN, and it will descend by 0.0001984320568 ETH every 60 seconds toward its floor price of 0.0000033 ETH, as long as the auction is open and there are still MTN available for purchase.


After the initial supply auction is completed, the daily supply lots begin. These also use a descending price auction model but are a little different. They being with their price as 2x the closing price of the previous auction, and descend every 60 seconds to 99% of the previous price in the auction.

[MTNToken]

For the first day of the auction I would just look at the result I think I have understand this decreasing bidding system, the price changes every minute if there are still some tokens left.

Correct. If the auction is open and there are still MTN available to purchase, the price will continue to descend.

[BitcoreWhy]

When auction start how will pay if we purchase metronome token ? Immediately or ? And only from wallet we can pay ?

And where will receive the coins ? And when ?

[*MrPiP*]

I think in current mega bull market auction model can help devs to get incredible amount of money I think it's a bit greedy but I like the project!

[jgarzik]

When auction start how will pay if we purchase metronome token ? Immediately or ? And only from wallet we can pay ?

And where will receive the coins ? And when ?

You pay smart contract with ETH or DBTC, and receive MTN tokens immediately.

This requires a wallet software capable of ERC20 and ETH, and some ETH or DBTC.

[MTNToken]

I think in current mega bull market auction model can help devs to get incredible amount of money I think it's a bit greedy but I like the project!

Hello,

Happy you like the project! So Metronome authors actually do not take any proceeds from any auction, and the one-time authors retention is locked up and made available over the course of three years.

You can read more about that here: https://medium.com/@MetronomeToken/on-metronome-author-retention-and-contract-behavior-73dad8f16494

Thanks for contributing to the conversation, cheers

[atchoum6760]

Hi have a question at the start of the auction, is the decreasing price displayed on the screen  ?  I'm really curious to see how this sale goes.

[MTNToken]

Hi have a question at the start of the auction, is the decreasing price displayed on the screen  ?  I'm really curious to see how this sale goes.

Yes, there will be a dashboard with live auction metrics that will include data such as current price, supply, MTN sold.

[atchoum6760]

Hi have a question at the start of the auction, is the decreasing price displayed on the screen  ?  I'm really curious to see how this sale goes.

Yes, there will be a dashboard with live auction metrics that will include data such as current price, supply, MTN sold.

Thank you for all these clarifications I'm looking forward to seeing how this type of sale will evolve.

[danielhodous]

I really want to invest... will ETH be the only coin to invest from initially?  I would assume BTC at minimum would also be an option?

Awaiting February 5th

[BitcoreWhy]

The date will be 5th February 2018 for the auction  ?

[atchoum6760]

The date will be 5th February 2018 for the auction  ?

On the site there are no changes so the sale will take place as planned from February 05 th.I'm really curious to see this auction system.

[Jayjay04]

This descending price auctions is non-sense, I don't know why you want to do it this way.
This process still profits the rich ones and do not help distribution at all, remember this GNOSIS non-sense.
This only tell us, that you wanna make the more money you can, and fuck the investors off !!
We all know that there are gonna be silly and foolish investor ready to put any amount of ETH just to get some tokens.

ICO, TGE, or whatever you call it, should have a goddamn fix price per token, and a progressive limit amount you can contribute.
So every little investors can contribute at start, letting coins available after for big investors to fight for the rest.

[shayrma]

A very interesting project! 
How will the auction? I'm watching the monitor and when the market reaches an acceptable price for me, send ETH purse MyEtherWallet to you? What if the network is slow?
The auction will be going all the time or intermittently?

What is the speed of transaction?

[Djohn100]

A worthy project, stands out from the others I think myself to invest there.

[MTNToken]

This descending price auctions is non-sense, I don't know why you want to do it this way.
This process still profits the rich ones and do not help distribution at all, remember this GNOSIS non-sense.
This only tell us, that you wanna make the more money you can, and fuck the investors off !!
We all know that there are gonna be silly and foolish investor ready to put any amount of ETH just to get some tokens.

ICO, TGE, or whatever you call it, should have a goddamn fix price per token, and a progressive limit amount you can contribute.
So every little investors can contribute at start, letting coins available after for big investors to fight for the rest.

Hello, so Metronome authors receive none of the proceeds from any of the auctions. Those stay in the ecosystem to provide long term support for the community. You can read more about that here: https://medium.com/@MetronomeToken/on-metronome-author-retention-and-contract-behavior-73dad8f16494

Thanks!

[MTNToken]

A very interesting project! 
How will the auction? I'm watching the monitor and when the market reaches an acceptable price for me, send ETH purse MyEtherWallet to you? What if the network is slow?
The auction will be going all the time or intermittently?

What is the speed of transaction?

Hello,

The Initial Supply Auction will be constant during its 7 day (or until all MTN are sold) run. Once that ends, the daily supply lots begin which last up to 24 hours or until all supply is sold.

We'll release more detailed instructions about participation in the February 2018 auction soon, but at a high level the process will look like this: a purchaser deems a give price fair, then sends ETH from an ERC20 compatible wallet to the Metronome auction contract. They will then receive their MTN almost immediately after the purchase.

The price that purchasers pay will be the price at the time the block containing their purchase transaction to the Metronome Auctions contract is mined.

Thanks!

[MTNToken]

A worthy project, stands out from the others I think myself to invest there.

Happy to hear you are excited!

[BitcoreWhy]

When will be the token sale ?

[MTNToken]

When will be the token sale ?

Target February Launch