Metronome Finance

The Problem: Currently, most DeFi platforms offer limited options for yield optimization. Metronome changes this by allowing users to trade their future yields, transforming them into present value. The Solution: Through innovative smart contracts written in Cairo and leveraging zk (zero-knowledge) technology, Metronome enables the creation of yield tokens representing future yields. These tokens can be freely traded, allowing users to capture value from their yields even before they are generated. Key Features: Flexible Yield Tokens: Create and customize yield tokens based on different assets, maturities and yield strategies. Decentralized Marketplace: Trade yield tokens in a secure and transparent environment, without intermediaries. Optimized Liquidity: Utilize advanced liquidity mechanisms to ensure efficient trading of yield tokens. Starknet Integration: Leverage the scalability and security of Starknet for a superior yield trading experience. Inspiration: Metronome draws inspiration from the success of Pendle, a leading yield trading protocol on EVM-compatible chains. However, Metronome goes further, exploring Starknet's potential to create an even more efficient and accessible platform.

Value Proposition for the Starknet Ecosystem: Metronome is building the future of yield trading in Web3. Whether you're a seasoned investor seeking new opportunities or a Starknet enthusiast eager to explore the potential of zk technology, join us on this journey. Based on the data gathered (CoinDesk and BitPanda), the yield trading market saw an estimated growth rate of around 36% from 2023 to 2024. In 2023, the TVL in DeFi was approximately $50 billion, and this figure continued to grow into 2024 as interest in yield-generating activities and decentralized finance surged. Increased Adoption: Implementing a project similar to Pendle on StarkNet will attract users and liquidity to the network, promoting the growth of the ecosystem. Demonstration of Capabilities: Showcasing the potential of StarkNet for complex DeFi applications, highlighting the efficiency and scalability provided by ZKPs. Innovation in ZKPs: Exploring new ways to use ZKPs to improve scalability, privacy, and efficiency, benefiting not only StarkNet but also other networks that might adopt these solutions.

Technology Stack:

StarkNet: This Layer 2 scaling solution for Ethereum provides the foundation for our platform. StarkNet's use of zero-knowledge rollups (ZK-rollups) enables fast and low-cost transactions, making yield trading accessible to a wider audience. Cairo Smart Contracts: Our core yield trading logic is implemented using Cairo, the native smart contract language for StarkNet. Cairo's focus on security and efficiency ensures the robustness of our platform. Next.js: This React framework powers our frontend application. Next.js's server-side rendering (SSR) capabilities and optimized performance create a responsive and user-friendly interface. StarkNet React: This library simplifies the integration of our frontend with StarkNet smart contracts. It provides hooks and components that streamline the process of interacting with the blockchain. Argent Wallet: We integrate with Argent, a leading StarkNet wallet, to provide users with a secure and intuitive way to manage their assets and interact with Metronome. Argent's user-friendly interface and robust security features make it an ideal choice for our platform.

How the Technologies Work Together:

User Interaction: Users connect their Argent wallet to the Metronome frontend. This connection allows them to view their balances, approve transactions, and sign messages required for interacting with the smart contracts.

Smart Contract Calls: When a user initiates a trade or other action, the frontend communicates with the Cairo smart contracts deployed on StarkNet. This communication is facilitated by StarkNet React, which handles the complexities of blockchain interactions. Argent wallet securely signs the transactions, ensuring the user's authorization.

Transaction Execution: The Cairo smart contracts execute the requested actions, such as transferring tokens, updating yield positions, or minting new tokens. These actions are performed on the StarkNet blockchain, ensuring transparency and security.

State Updates: The smart contracts emit events that are captured by the frontend. These events trigger updates to the user interface, reflecting the changes in the user's yield positions and the overall state of the platform. Argent wallet also updates the user's balance information based on these events.

Benefits of this Stack:

Scalability: StarkNet's ZK-rollup technology enables Metronome to handle a high volume of transactions without sacrificing speed or affordability. Security: Cairo's strong typing and formal verification features contribute to the security of our smart contracts, protecting user funds. Argent wallet adds an extra layer of security by requiring user confirmation for each transaction. User Experience: Next.js and StarkNet React create a smooth and intuitive interface, making yield trading accessible to both experienced and novice users. The integration with Argent wallet further enhances the user experience by providing a familiar and trusted way to manage assets.