Decentralized exchange Meteora has announced the economics of its upcoming MET token just two weeks ahead of its Liquidity Generation Event (LGE) scheduled for October 23rd.
The Solana-based liquidity protocol shared details of the MET in a Medium post published Tuesday, revealing what it calls the “Phoenix Rising Plan.” Tokenomics aims to eliminate inflation and continuous unlocking, alongside a promise of project transparency and community participation.
Meteora said: Phoenix Rising Plan All allocated MET tokens will be liquidated from the beginning and there will be no vesting period for stakeholders except the core team and Meteora Reserve.
“LGE” unlocks all tokens for the owner
The Meteora Token Generation Event (TGE) will be 100% unlocked to all parties except teams and long-term reserves. According to the published distribution details, 20% of MET will be distributed to Mercurial stakeholders and 15% to Meteora users based on the platform’s LP stimulus plan.
The allocation allocates 3% to the Launchpad and Launchpool ecosystem, 2% to off-chain contributors, 3% to the Jupiter staker stimulus package, and an additional 3% to centralized exchanges, market makers, and related entities.
An additional 2% will be distributed to M3M3 meme coin owners who earn by staking. M3M3 allows users who hold MemeCoins to stake MemeCoins and compete for fee rewards from a permanently locked liquidity pool. Only the top stakers, such as the top 100 stakeholders by stake size, are eligible to receive these rewards.
Still, Meteora’s internal team and reserve tokens are subject to a long vesting schedule. Teams will receive 18% of the total supply, vested linearly over six years. Meteora’s Reserve, which represents 34%, will follow the same vesting period.
Meteora believes that this initial float increase could “break down the low float/high FDV model” common to most token launches.
Meteora reconfigures airdrops through liquidity distributors
MET’s launch includes a mechanism called a “Liquidity Distributor,” in which, instead of early buyers receiving callable tokens that may prompt them to sell immediately, recipients will receive a liquidity position that automatically earns trading fees as they gradually “sell” their airdrop exposure over time.
Meteora decided to embed the distribution in a liquidity pool, allowing airdrop token holders to earn revenue through transaction fees rather than manually selling their tokens.
According to the platform, 10% of MET’s circulating supply will be distributed via TGE’s liquidity distributors, allowing participants to choose the one they desire. liquidity position.
According to Solana LP, this will allow the project to bootstrap liquidity towards its MET debut without the need for the team to supply tokens directly. Liquidity will come from the community and you will also benefit from trading revenue and fees.
“This will lead to significant fees for our LP Army and Launch Pool, and will lay the foundation for future Meteora,” the team said.
Meteora’s cumulative DEX volume reaches $200 billion
According to CoinGecko statistics, Meteora’s 24-hour trading volume was $358.1 million, an increase of 35.9% from the previous day. Additionally, the platform has earned nearly $208.7 billion since its launch in February 2023, and $30.5 billion in the past 30 days, according to data from DefiLlama.
Among other DEXs, rank It ranks seventh in total value locked (TVL) at $706.54 million, $300 million less than Balancer in sixth place. Meteora lists over 840 coins, including Solana Wrapped (wSOL), Bitcoin Wrapped (wBTC), and popular meme coins such as Official Trump and PopCat.
