What is the MET token? Meteora liquidity aggregation protocol
Meteora was formerly known as Mercurial - a decentralized exchange (DEX) operating on Solana. It was later rebranded and redirected its development to become a DeFi project on the Solana blockchain, offering a variety of products aimed at providing liquidity and enhancing the TVL of the ecosystem.
Meteora aims to become the primary liquidity provider hub on Solana. The project builds various operational models from CLMM to multi-token models.
Binance Alpha is the first platform to support the launch of Meteora (MET) on October 23rd. The Alpha score for receiving the airdrop will be announced later. Previously, Meteora announced the Phoenix Rising plan, unlocking 48% of the total supply of MET tokens right at TGE to eliminate long-term selling pressure and prioritize the community.
The Phoenix Rising Plan represents Meteora's breakthrough strategy on Solana, eliminating the popular vesting or gradual unlock model in DeFi. Stakeholders, except for the core team, receive 100% of MET tokens immediately at TGE, encouraging long-term holding without fear of sell-offs.
The project issues Meteora DAO based on three main principles:
Leverage expertiseEmpower LPsPromote transparency and trust
The project's key features include a dynamic liquidity market maker (DLMM) for precise liquidity concentration, an AMM pool for earning transaction fees and profits from lending, along with a dynamic vault for capital rebalancing across protocols. These tools enable liquidity providers to earn the best fees and profits on their personal capital.
