By Jove, Meteora has cooked up a corker of a proposal that’s got the Solana set all a-twitter! The plan? To fling 3% of their TGE fund at JUP stakers, but not in your run-of-the-mill tokens-oh no-in Liquidity Position NFTs. What ho, indeed!
This brainwave, while potentially the cat’s whiskers for bootstrapping liquidity, has the old beans scratching their heads over fairness and concentration risk. Will it be a spiffing bridge between communities, or a right old dust-up? Only time will tell, old sport. 🧐
3% Allocation for JUP Stakers: A Dash of Brilliance or a Spot of Nonsense?
As the chaps at BeInCrypto have been yapping about, Meteora’s gearing up for a TGE in October. And what’s this? They’ve lobbed a proposal into the mix that’s got everyone’s monocles popping. 🧑🤝🧑
The scheme? To allocate 3% of the TGE fund to Jupiter’s JUP stakers as Liquidity Position NFTs. Meteora plans to chuck this 3% into a Single-Sided DAMM V2 pool, then dole out positions based on time-weighted staking, amount, and voting activity. A bit of a rigmarole, but there you are. 🧮
The aim? To whip up some MET/USDC liquidity at listing without chucking more MET into the circulating supply. “Liquidity-first,” they call it. No extra tokens floating about, they assure us. A tidy little plan, if it works. 🤞
Old Soju, Meteora’s Co-Lead, has been busy with his abacus. According to him, with 600 million JUP staked, a 3% allocation works out to 30 million MET tokens. That’s a smidge over 0.05 MET per staked JUP. “Reasonable,” he says, with a wave of the hand. 🧑💼
“I say, it’s dashed reasonable,” Soju chimed in, with all the confidence of a man who’s just won a bet on the ponies.
Some whizz on X did a bit of back-of-the-envelope math and came up with a similar figure: ~0.05035 MET/JUP. Not much per JUP, but when you tot it all up, it’s enough to coax users into becoming MET liquidity providers. A bit of a carrot, eh? 🥕
Pros & Cons: A Bit of a Mixed Bag, What?
Meteora’s proposal has its upsides, no doubt. It’s a tip of the hat to Jupiter’s role in the Solana ecosystem, helps get MET/USDC liquidity off the ground at TGE, and reduces sell pressure since the reward’s an LP position, not tradable tokens. With a bit of clever engineering-time-weighted distribution, vesting attached to NFTs, withdrawal restrictions-it could be a spiffing bridge between the two communities. 🌉
But, I say, there are risks. The old fairness debate’s rearing its head: why should JUP stakers get such a chunky share? Could the “LP Army” or fat cats snaffle up most of the rewards? And what’s the circulating supply going to look like at TGE? Earlier drafts mentioned up to 25% reserved for liquidity/TGE reserve, so transparency’s a bit of a sticky wicket. 🧐
“Dash it all, debating ‘fairness’ is a bit of a pickle when JUP gave up 5% for Meteora. The LP Army deserves more, what? They’ll bag a hefty chunk of future emissions and still hold 20% of the total supply at TGE,” Soju pointed out, with a shrug. 🤷♂️
From past airdrop shenanigans, Meteora’s team needs to be as transparent as a gin and tonic. Tokenomics, LP NFT redeem/vest mechanics, per-address caps-it’s all got to be laid out like a picnic spread. If they botch it, concentrated distribution and sell pressure could send TGE’s value down the swanny. 🍹💨
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2025-09-25 09:38