Is there a Metric airdrop?
Not one Metric has announced. It has no token, and nothing on its site, in its docs or on its X account mentions a token or an airdrop. What it has had is a hint of points. On 20 October 2026 the swap box on app.metric.xyz marked Metric's own quote with a star labelled "Earns Metric points". By 26 October the star was still there but the label was gone, and Metric has never published how points are earned or what they're for. On 21 October it launched referrals instead: "Metric referrals are now live."
Its terms, updated on 5 October 2026, leave the door open without promising anything: "Metric may, in its sole discretion, make available a points program, referral program, or other incentive program". They also say "Points have no monetary or cash value, are not redeemable for cash, and confer no ownership or other interest in Metric, the Protocol, or any Digital Asset."
Warning Farming Metric points is a bet on rules nobody has seen. The terms say: "Metric makes no representation, and provides no guarantee, as to the present or future value or utility (if any) of Points."
What Metric is
Metric's docs say: "Metric is a decentralized exchange for active pools: pools with custom pricing and liquidity that proactively change with new information." Each pool takes its price from an oracle and keeps its liquidity in bins a set percentage above and below that price, so the liquidity moves with the market. Most pools pair tokenized stocks with stablecoins, next to ETH and stablecoin pairs.
It traded quietly for months before opening to the public. On 7 August 2026 it posted: "Metric DEX just crossed $10B in total volume, all in stealth." The public launch followed on 15 October, and the docs now say: "Metric is live on Ethereum, BNB Smart Chain and Robinhood Chain."
How Metric points and liquidity rewards work
Points never got rules, and the label on Metric's quote has since disappeared. What is live is a referral program, opened on 21 October: "Everyone can create their own referral link via https://app.metric.xyz/referrals". Metric said: "More information about the benefit of referrals will be revealed next week." Signing in unlocks your link: "Sign a free offchain message to unlock your referral link." Links take the form app.metric.xyz/r/ followed by a code. The docs add: "Metric may adjust or end the program at any time, and may void rewards from self-referral or other misuse of the program."
Metric doesn't run a liquidity mining program either. Liquidity providers earn Edge, a cut of the spread. In the docs' words: "You earn a share of the spread traders pay when trades use your bins' liquidity, after the curator's and Metric's fees." It isn't a token reward: "Earnings compound into your position, with nothing to claim."
The pools list shows each pool's APR. On 20 October it ranged from 7.82% for USDC-USDT to 427.13% for CRCLB-USDT. The docs warn: "It's a past figure, not a forecast, and it leaves out price moves, so it isn't your total return." They add: "Positive Edge doesn't mean you're making money."
Metric airdrop step-by-step guide
There's no confirmed airdrop. These steps cover swapping through Metric's own quote, getting a referral link and providing liquidity.
- Check that you're allowed. The terms shut out anyone who is "a citizen of, a resident of, located in, or domiciled in the United States or any of its territories", along with sanctioned countries. You must be 18 or older, and VPNs are banned.
- Open app.metric.xyz, connect a self-custodial EVM wallet and pick Ethereum, BNB Chain or Robinhood Chain. The docs remind you: "Keep enough of the network's gas token to pay for gas."
- To swap, choose the tokens and the amount. Metric's quote is listed first, marked with a star, above quotes from other routes. Compare them, approve the token if asked and confirm in your wallet.
- To provide liquidity, open Pools and check each pool's tier, its curator and the fee shares before you choose. Then, as the docs put it: "Open the pool in Metric and connect your wallet on the correct network." Next, "Select the bins where you want to provide liquidity." Finally, "Approve token spending if requested, then confirm the deposit."
Warning Stay away from pools tagged High Risk. Metric's docs say of such a pool: "one transaction may drain it." They also say: "A custom withdrawal extension can block LP exits."
- To take your money out: "Open your position, choose how much liquidity to remove, review the tokens you will receive, then confirm in your wallet." You may get back a different mix of tokens than you put in.
Open MetricOpens app.metric.xyz
Metric costs and fees
Swapping adds no fee on top: "Traders pay zero fees on Metric." The cost sits inside the quoted price, plus gas. Providing liquidity means depositing your own tokens, and the curator and Metric take their share of the spread before you get yours. The docs say "Metric's default share is 7.5% of the overall spread", but the terms allow far more: "a protocol-level fee of up to forty percent (40%) of the applicable trade spread". Those shares can move after you deposit: "The curator and Metric can each change their share of the spread at any time and with no timelock, even when the Price Provider is immutable."
Metric risks and eligibility
- You can lose all of it. The docs say: "Providing liquidity on Metric is high risk. You can lose your entire deposit." And: "Asset price losses can outweigh Edge."
- Metric's marketing and its own terms don't agree. An X article on 16 October said "LPs avoid the classic impermanent loss that comes from arbitrageurs correcting a stale pool", while the terms warn that "you may withdraw fewer assets, or assets of lesser value, than you deposited."
- Points can be taken away from anyone Metric decides has "engaged in fraud, abuse, manipulation, or any other violation of these Terms."
- Anyone can run a pool, and Metric doesn't stand behind them: "You should assume that we make no endorsement about the safety or legitimacy of any specific Pool".
- Excluded: US persons and the sanctioned places the terms list, among them Cuba, Iran, North Korea, Syria and occupied parts of Ukraine. The app can also block wallet addresses.
- The terms and the docs disagree on where protocol fees go. The terms say they "accrue to the independent operator of the Protocol, and not to Metric", and don't name that operator.
- Use only metric.xyz, app.metric.xyz, docs.metric.xyz and the X account @metricxyz. No official page asks for a seed phrase.
Who is behind Metric?
The terms name the company: "Waypoint Technologies S.A., Registration Number 155779918". They are "governed by and construed in accordance with the laws of the Republic of Panama", and give no address. Metric names no founders. The only team member we found is Christos Gkolias, who calls himself "CTO @metricxyz" on X and wrote on 15 October: "after 3.5 amazing years at Uniswap Labs, I've joined Metric!" No funding round or investors have been announced. On security, the docs say: "Metric's contracts have been audited five times." The audits were by Zellic and Sherlock, and the reports are on Metric's GitHub.
Sources
- Metric app (swap and pools pages) Metric,
- Referrals Metric docs
- Metric referrals are now live Metric on X,
- Terms of Use Metric,
- Introduction Metric docs
- How Metric works Metric docs
- Provide and manage liquidity Metric docs
- Understanding your returns Metric docs
- Trade Metric docs
- Fees Metric docs
- Risks and safeguards Metric docs
- Pool tiers Metric docs
- Extensions and permissions Metric docs
- Supported chains and deployments Metric docs
- Security and audits Metric docs
- $10B in volume, all in stealth Metric on X,
- Active Pools, the Architecture behind Metric Metric on X,
- Joining Metric as CTO Christos Gkolias on X,
- Audit reports Metric on GitHub
This guide explains how the program works. It isn't financial advice, and no airdrop is guaranteed. Check Metric's official channels before you connect a wallet or deposit funds.
