Metronome Reaches $63.5M TVL, Claims #2 Spot in Synthetics
Metronome Reaches $63.5M TVL, Claims #2 Spot in Synthetics
馃搱 Metronome's Big Jump
Metronome hits major milestone with aggregated TVL reaching ~$63.5M, positioning it as the #2 largest synthetics protocol by total value locked.
Key details:
- DeFiLlama currently lists Metronome at #3
- The discrepancy stems from excluded 3rd party collateral on Morpho
- Including all collateral would place Metronome at #2 among synthetic protocols
Platform access: Users can explore the protocol at app.metronome.io/eth
This represents significant growth from the nearly $17M TVL reported in Q1'24, demonstrating strong adoption in the synthetics space.
Metronome鈥檚 aggregated TVL just hit ~$63.5M, placing us as the #2 largest synthetics protocol by TVL (per @DefiLlama). If you haven't already, make sure to check out: app.metronome.io/eth
msETH/WETH Market Launches on Tangent Finance
A new msETH/WETH lending market has gone live on Tangent Finance. **Key Details:** - The market enables users to lend and borrow against msETH and WETH pairs - Follows previous market launches including the xUSD/msUSD market on Euler Finance's Plasma - Expands DeFi opportunities for Metronome users This integration provides additional liquidity options for msETH holders within the Tangent ecosystem.
Metronome Opens Voting on Three Governance Proposals
Metronome has opened voting on three improvement proposals, closing July 13. **Key proposals:** - **MIP-31**: Introduces dynamic revenue sharing that scales with protocol growth, replacing the fixed monthly cap system - **MIP-32**: Establishes formal treasury reporting standards and classifications - **MIP-33**: Settles outstanding rewards from the governance participation campaign approved in MIP-25 The proposals aim to improve existing frameworks based on protocol growth and community feedback. MIP-31 adds a reserve mechanism to smooth reward distributions over time, while MIP-32 builds on existing transparency tools to create clear reporting standards.
Plasma Liquidity Pools Refreshed with New Incentives
**Liquidity incentives have been replenished** for msUSD and msETH pools on Plasma, offering attractive yields for providers. **Current APR rates:** - msUSD pool: ~16.9% APR - msETH pool: ~10.21% APR - Additional fees apply These rates represent a decrease from March 2026, when msUSD offered ~23% APR and msETH provided ~19% APR through the Oku Trade integration. Users can earn passive income by providing liquidity to these synthetic asset pools.
馃攧 Liquidity Incentives Refreshed for msUSD and msETH Pools on Plasma
Metronome Synth has replenished incentives for its msUSD and msETH liquidity pools on Plasma through Oku Trade. **Current Yields:** - msUSD pool: ~23% APR - msETH pool: ~19% APR - Additional trading fees apply Liquidity providers can earn these returns by depositing assets into the respective pools. This follows previous incentive programs, including the launch of msUSD/USDT0 and msETH/WETH pools earlier this month, which offered higher initial yields of ~68% and ~36% APY respectively. The ongoing incentive program aims to strengthen liquidity depth on the Plasma network for Metronome's synthetic assets.
馃彟 Stake DAO Launches frxUSD Vault on Morpho with Multi-Protocol Incentives
Stake DAO has launched a new frxUSD curated vault on Morpho, offering lending opportunities against Curve Finance OnlyBoost LP collateral. **Key Details:** - Bootstrapping incentives provided by Metronome, Frax Finance, and Stake DAO - Current APY: 11% - TVL reached $3.3M within 2 days of launch - Collateral includes blue-chip Curve LP positions, such as the Metronome msUSD/frxUSD PegKeeper LP The bootstrapping phase aims to attract early liquidity and establish strong initial yields as the Morpho curated market expands. Users can participate by lending frxUSD against approved Curve LP collateral. [Get started](https://app.morpho.org/ethereum/vault/0xCE13e39534082FCF8f13F6D84e6D95414D14271e/stake-dao-frxusd-v2)