The chemical reactions and pathways involving F420-0 (5-O-{[(1S)-1-carboxyethoxy](hydroxy)phosphoryl}-1-deoxy-1-(8-hydroxy-2,4-dioxo-2H-pyrimido[4,5-b]quinolin-10(4H)-yl)-D-ribitol), the fragment of coenzyme F420 remaining after formal hydrolytic removal of all of the glutamate residues.