Ah, dear reader, gather ’round as we delve into the whimsical world of Meteora, that illustrious decentralized exchange upon the Solana blockchain, which has recently graced us with not one, but two proposals regarding the allocation of the MET token. How utterly riveting! 🎩✨
In a post dated March 20, Meteora, in its infinite wisdom, has proclaimed that these changes are designed to bestow fairness upon the liquidity provider rewards, support the birth of new tokens, and ensure that the team remains as committed as a cat to its nap. The first proposal, a veritable masterpiece, suggests a revision of the LP Stimulus Plan. 🐱💤
Originally, a modest 10% of the MET supply was reserved for rewarding our dear liquidity providers. However, as fate would have it, the program has outstayed its welcome, extending beyond its anticipated December 2024 finale. Thus, Meteora, in a fit of generosity, wishes to elevate this to a splendid 15%. This adjustment, my friends, ensures that both the early birds and the newcomers receive their just rewards without the tokens losing their luster. 🌟
The first two proposals are live on .
These proposals address key community concerns about the LP Stimulus Plan, M3M3 and more.
Watch the community call to see @0xSoju & @0xmiir go through these proposals live.
— Meteora (@MeteoraAG) March 20, 2025
In this updated plan, our early contributors shall receive a delightful 2% of MET, while all liquidity providers will share an equal 8%. Gone is the original points multiplier system, replaced by this egalitarian approach. Furthermore, an additional 3% of MET shall be bestowed upon Launch Pools and Launch Pads, ensuring that our retail LPs are not left in the lurch. How noble! 🎉
The second proposal, a veritable ode to the team, proposes to allocate a staggering 20% of the MET supply to its members, with a six-year vesting period to ensure their long-term commitment. Within this grand design, 2% shall be graciously offered to M3M3 token holders, those fortunate souls who partake in Meteora’s stake-to-earn platform, earning rewards from liquidity pools that are locked tighter than a miser’s purse. 💰
This strategic move comes on the heels of the original creators’ mismanagement of M3M3, which, alas, led to investor losses. To maintain a semblance of fairness, the distribution will be based on two snapshots, and wallets engaged in dubious activities shall be summarily blocked. How delightfully dramatic! 🎭
In recent months, Meteora has experienced a meteoric rise, with trading volume soaring from a mere $990 million in December 2024 to a staggering $33 billion in January 2025. According to the ever-reliable DeFiLlama data, Meteora now boasts a 9% market share, ranking fourth among DEXs by trading volume. While the broader DEX market languished in a downturn, Meteora managed to rake in a princely sum of $195 million in monthly fees in February. Bravo! 👏
Yet, dear reader, all is not rosy in this garden of digital delights. Meteora currently finds itself entangled in legal woes, as Burwick Law, a New York law firm, has filed a class-action lawsuit against Meteora, KIP Protocol, and Kelsier Ventures. The allegations? That they have defrauded retail traders and misled investors by manipulating liquidity during the LIBRA token launch. Oh, the audacity! 😱
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2025-03-21 12:42