Metronome ICO Review

Metronome
Bitcoin and ethereum among other cryptocurrencies have created a lot of buzz in the crypto space. Rich with features but at the same they do lack in some aspects as well, one of them being the non-ability of these cryptos to get transferred to other blockchains. With this idea in mind, a new ICO project is planning to enter the cryptocurrency industry. An ambitious project, Metronome ICO aims to become the first crypto that can be transferred across different blockchains while targeting the portability, speed and volatility features of the crypto market.

Important Details:
Ticker: MTN
Token type: ERC20
Total Tokens: 10,000,000
Start of Initial Auction Date: May 2018
End of Initial Auction Date: Will Last 7 Days
Available for Token Sale: 80%
Accepts: ETH
Metronome (MTN): The built-to-last Cryptocurrency
Metronome is working towards creating a cryptocurrency that can be transferred across different blockchains. The aim is to negate the isolation of different blockchains, existing price volatility and low transaction speed persistent in the crypto marketspace through portability, reliability, and self-governance.

The Metronome ICO project defines itself as a “new cryptocurrency, engineered for institutional-level endurance.” It even claims to offer equal access opportunity for the public but zero privileges to the founders while having a reliable token supply.

With longevity as its main goal, the team believes to be engineering a crypto that is built-to-last.

Whitepaper
It doesn’t provide the essential information which is how the idea would be implemented. Another negative factor for the project is the lack of a prototype. Though the team members have a strong and popular background, it doesn’t have a prototype for investors to understand the project and make their decision to invest.

With the goal of cross-blockchain cryptocurrency, the whitepaper brags “It is the first cryptocurrency that has the potential to be secured by the best blockchain networks, without a permanent commitment to anyone blockchain.”

Unlike other tokens, the supply of Metronome is not limited where 100 percent of the proceeds from the Initial supply Auction remain in the smart contract system.

Moreover, the company mentions that 100 percent proceeds from the initial auction will be used in supporting the community. Though it’s a nice thought, a proper bifurcation of the funds budgeting would have given a far more clear picture.

Team
Having a team of 15 people, the project does pack a punch in terms of talent and experience. Comprising of data scientists, principal engineers, community advocate, marketing and partnerships, skilled professionals are contributing to this project.

Jeff Garzik — CEO & Co-Founder, Chief Designer, He is also the co-founder of Bloq, a blockchain firm that develops software and previously worked with BitPay.
Matthew Roszak — Chairman & Co-Founder, Roszak is the co-founder of Bloq as well and a big name in the blockchain industry.
Peter Vessenes — He is the Chief Cryptographer of the project.
Partnership
list of partners including

1 New Alchemy,

2 Smith + Crown, Jaxx,

3 Delta Strategy Group,

4 Zeppelin Solutions

5 and Perkins Coie.

Business Model
The concept of Metronome is innovative that has huge potential, no doubt. By giving its definition as “a new cryptocurrency, engineered for self-governance and longevity, long term-reliability, and maximum portability”, the project’s idea sure holds a value. Believing it to be “1,000-year cryptocurrency” would be a stretch without having a proper strategy and implementation process laid down.

Community Acceptance
Being well known in the community comes with its privileges as in the case of the CEO Jeff Garzik who has over 50k followers on Twitter. Having already started the Bloq, a blockchain-based company, the prime team members have established names in the blockchain community. Having said that, there is also a lot of negative opinions over some of these members.

The Metronome community is available for the potential investors to reach out on Github, Twitter, Reddit, Facebook and Medium as well. With close to 18,000 members on its Telegram channel, it certainly is gaining a lot of attention.

Roadmap
Stage of Project:

The timeline of the project isn’t very inclusive and futuristic. The project has already covered the three stages of developing an idea, starting a partnership with Alchemy and making the metronome website and whitepaper live while skipping the middle one that is to launch a smart contract. Metronome is onto the fifth stage (minus the third one as for now) and would launch its initial supply auction in May 2018.

Red Flags:

Being the first cross-blockchain, especially on the Ethereum, the project has yet to instill confidence in the investors. With nothing on the implementation of specifications, we are not sure how the team is planning to achieve it.

Methodology
To rate an ICO, we follow a list of parameters that are basically the KPIs (Key Performance Indicators) of a project viz:

Whitepaper — Availability of code or prototype, the breakdown of funds, wallet for crowdsale
Team Profile — Team’s strength and reputation
Business Model — Problem solved, purpose & utility of the token and the economic model
Backing Technology — Blockchain infrastructure, clarity of terms & conditions and token software
Crypto-sale Resilience — Incorporation, token distribution, legal risks and security aspect
Community Acceptance — Clarity & frequency of communication and social media presence