Metronome
Crypto Overview
Project Overview
Metronome was launched in 2018 as a cryptocurrency designed to be a 'built to last' store of value and medium of exchange with unique features like cross-blockchain portability and self-governance. The project was created by Jeff Garzik and other blockchain veterans.
Intended Utility
The primary intended utilities of Metronome include serving as a stable store of value, enabling cross-chain transactions, and providing predictable inflation through its autonomous supply mechanism. The project aimed to address Bitcoin's perceived limitations in terms of supply economics and chain portability.
Actual Utility Assessment
Current analysis reveals extremely limited actual utility and adoption. Trading volumes are minimal, and the cross-chain functionality appears largely unused. Development activity has been sparse in recent years, with the last significant GitHub commits dating back to 2021.
Token Distribution and Founder Analysis
The initial token distribution included an Initial Supply Auction (ISA) that sold 8 million MET tokens, with 2 million tokens allocated to the development team. The project implemented a Daily Supply Lot (DSL) mechanism for ongoing token distribution. However, the team's involvement and communication have significantly decreased since 2021.
Technical Implementation
The smart contracts and technical architecture appear sound from an Islamic finance perspective, as they don't involve interest-bearing mechanisms or gambling elements. The autonomous supply mechanism operates through straightforward token issuance rather than interest-based rewards.
Crypto Impact
To assign a comfort level investing in Metronome from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Metronome.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.