Synthetics · Review
ActiveMetronome Synth Review 2026: Multi-Collateral Synthetics
Metronome Synth is a multi-collateral synthetic asset protocol on Ethereum, Optimism and Base that lets users mint msUSD, msETH and msBTC against crypto collateral. Its TVL is moderate, but no audits are listed and fee details are not published in the material reviewed.
By the DappsAtlas editorial team · Updated
DappsAtlas score
6.2/10
Mixed
Our verdict on Metronome Synth
6.2/10Metronome Synth suits experienced DeFi users who want synthetic USD, ETH or BTC exposure backed by their own crypto, and who are comfortable with liquidation mechanics. Its strengths are a multi-collateral design, multichain msAssets and an active DAO structure. The main caveat is the lack of any listed audit, along with unpublished fee details and a stated shift toward the Odyssey app. Check the docs for audits and parameters before minting.
Score breakdown
How Metronome Synth scores
- Security
- 5.0/10
- Ease of use
- 6.5/10
- Fees
- n/a
- Features
- 6.5/10
Scores run from 0 to 10 and are based only on facts we could verify. Where information was missing we mark the score n/a rather than guess.
What is Metronome Synth?
Metronome Synth is a synthetic asset protocol that lets users mint tokens tracking USD, Ether and Bitcoin by posting crypto collateral. It is listed on DefiLlama in the Synthetics category on Ethereum, Optimism and Base, with about $10.3 million in TVL and a listing date of January 2023.
The homepage calls it a capital-efficient synthetic engine that accepts blue-chip and yield-bearing tokens. Its assets are msUSD, msETH and msBTC, built as LayerZero OFTs for multichain minting. Governance runs through the Metronome DAO, where MET and esMET holders vote.
The homepage also says the synthetic engine is evolving to power Odyssey, an on-chain super app focused on smart farming. Readers should check how that shift affects the core Synth product. Parts of the site copy look like template text unrelated to DeFi, and the homepage TVL ($21.4M) does not match DefiLlama's figure.
How Metronome Synth works
Metronome Synth is a collateralized synthetic asset protocol. A user deposits crypto collateral, such as blue-chip or yield-bearing tokens, and mints synthetic tokens called msAssets. These follow the price of another asset: msUSD tracks the dollar, msETH tracks Ether and msBTC tracks Bitcoin.
Because the position is backed by collateral, the value locked must stay above a required ratio. If collateral falls too far relative to the minted debt, the position can be liquidated. The homepage FAQ covers liquidations and how the peg is determined, but the specific parameters are not public reviewed here.
Swaps between synthetics are described as zero-slippage. In synthetic systems this usually means prices come from oracle feeds, not from a liquidity pool's depth. The tokens are built as LayerZero OFTs so they can move across supported chains.
6 features
Key features
01
Multi-collateral minting
Users post crypto assets as collateral and mint synthetic assets against them. The homepage describes blue-chip and yield-bearing tokens as the collateral base.
02
msUSD, msETH, msBTC
The msAsset line-up shown on the homepage includes msUSD, msETH and msBTC, tracking USD, Ethereum and Bitcoin prices.
03
Multichain synthetic tokens
Synthetic assets are built as LayerZero OFTs, which lets them be minted across multiple chains. DefiLlama lists Ethereum, Optimism and Base.
04
Zero-slippage swaps
DefiLlama's description says synthetic assets can be swapped with zero slippage, a property of synthetic systems that price swaps from oracles instead of pool depth.
05
Capital-efficient Synth Engine
The Synth Engine is described as built for capital efficiency, using yield-bearing tokens as collateral.
06
DAO governance with MET
MET and esMET holders govern the protocol through the Metronome DAO, with voting on Snapshot.
Pros and cons
What we like
- Multi-collateral design that accepts blue-chip and yield-bearing tokens.
- Synthetic assets for USD, ETH and BTC exposure in one platform.
- Available on Ethereum, Optimism and Base, with LayerZero OFT tokens for multichain minting.
- Has a governance token (MET) and a DAO that votes on Snapshot.
- Listed on DefiLlama since January 2023, with roughly $10.3M in TVL.
Watch out for
- DefiLlama lists no audits for Metronome Synth, so smart-contract risk is hard to judge.
- Synthetic assets carry liquidation risk if collateral value falls, which can mean losing posted collateral.
- The homepage says the synthetic engine is evolving to power Odyssey, so the product direction may change.
- TVL figures differ between sources (about $10.3M on DefiLlama, $21.4M on the homepage), so users should verify the numbers themselves.
- Fees, collateral ratios and liquidation penalties are not published in the material reviewed here.
- The homepage includes placeholder-style text that has nothing to do with synthetics, which suggests the site copy is not carefully maintained.
Metronome Synth fees
Fees are not published in the material reviewed. That covers minting, swap and liquidation costs as well as any borrowing or stability charges. Users would find protocol-specific fees in the app interface and the documentation before opening a position.
On top of protocol fees, users pay network gas on Ethereum, Optimism or Base, which varies by chain and congestion.
Is Metronome Synth safe?
DefiLlama lists no audits for Metronome Synth. The material reviewed does not describe any audit, bug bounty or incident history, so smart-contract risk cannot be assessed from public sources. Readers should look for audit reports in the official docs before depositing.
Users keep custody of their assets in their own wallet, but collateral is locked in smart contracts, and synthetic systems depend on price oracles and cross-chain messaging (LayerZero for the OFT tokens). A failure in any of these, or a sharp market drop causing liquidation, could cause losses. Regulatory status is not stated. Only use funds you can afford to lose.
6 steps
How to get started with Metronome Synth
- 1
Read the docs and FAQ on the official site to understand msAssets, collateral types and how liquidations work.
- 2
Check the docs for any audit reports and confirm you are on the official domain before connecting a wallet.
- 3
Set up a self-custody wallet and fund it with a supported collateral token on Ethereum, Optimism or Base, plus gas.
- 4
Launch the app, deposit collateral and mint a small amount of msUSD, msETH or msBTC to learn the process.
- 5
Watch your collateral ratio and keep a buffer so a price drop does not trigger liquidation.
- 6
Follow MET governance on Snapshot if you want a say in protocol changes.
Who Metronome Synth is for
This is for DeFi users who already understand collateralized debt and liquidation risk, and who want synthetic exposure to USD, Ether or Bitcoin across Ethereum, Optimism and Base. It is not suited to beginners or to anyone who cannot accept smart-contract risk.
Metronome Synth FAQs
What are msAssets on Metronome?
msAssets are the synthetic tokens minted on Metronome Synth, such as msUSD, msETH and msBTC. They track the price of the underlying asset (USD, Ether or Bitcoin) and are created by posting collateral. The homepage says they are built as LayerZero OFTs so they can be minted across multiple chains.
What can I use as collateral on Metronome Synth?
The protocol supports multi-collateral deposits, and the homepage mentions blue-chip and yield-bearing tokens as collateral. The exact list of accepted tokens and their collateral factors is not given in the material reviewed here, so check the app and docs.
Which chains does Metronome Synth run on?
DefiLlama lists Metronome Synth on Ethereum, Optimism and Base. The homepage also says its synthetic assets are enabled by LayerZero OFTs for minting across multiple chains.
What is the MET token for?
MET is the protocol's token. The homepage says it powers key protocol utilities and lets holders take part in DAO governance. The Metronome DAO is described as a community of MET and esMET holders, with voting through Snapshot.
Has Metronome Synth been audited?
DefiLlama lists no audits for Metronome Synth. That does not prove the code is unsafe, but it means readers should look in the docs for any audit reports and treat the protocol as higher risk until they find them.
Can I be liquidated on Metronome Synth?
Like most collateralized synthetic systems, positions can be liquidated if collateral value drops too far against the debt. The homepage FAQ lists liquidations as a topic, but the specific thresholds and penalties are not public reviewed, so read the docs before minting.
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How we checked
Sources
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