MetalSwap wallet

What is MetalSwap (XMT)?

Hedging a metals position normally means a swap arranged through a centralised desk, with credit lines, paperwork and waiting behind it. MetalSwap moves that arrangement into smart contracts: one side opens a hedging swap on a commodity price, a shared liquidity pool stands on the other side of it, and settlement happens by contract rather than by broker. XMT is the governance token of that system, handed out as the incentive for supporting the shared liquidity.

What that means for a holder is worth being clear about: XMT is not a position in any swap and does not carry the exposure the platform is built to hedge. It is a plain ERC-20 governance and incentive token, and holding it keeps you on the voting side of the protocol rather than the trading side.

The practical detail is deployment. The same token exists on more than one EVM chain, and each deployment is its own balance with its own contract; XMT sitting on one chain cannot be spent on another without crossing a bridge first. Fees are always paid in the native coin of whichever chain the token sits on, so a small amount of that coin has to be kept next to it.

Supported networks in Tangem (4): Ethereum, Optimism, BNB Smart Chain, Polygon POS.

A voting token is a strange thing to hold: months of nothing, then a signature needed on short notice. Tangem creates the private key inside the card's secure chip and never exports it, and a second card from the same set reopens the same wallet if the first one disappears, with a seed phrase left as an option you can take or skip. Dormancy is the normal state for XMT, and this is storage built for exactly that.