Some Background on Meteora

Meteora's predecessor was Mercurial Finance, the Solana ecosystem's stablecoin automated market maker (AMM) protocol. At its peak, its total value locked (TVL) exceeded $200 million. However, the collapse of FTX in 2022 caused its token, MER, to face a liquidity and trust crisis. Faced with this challenge, the team decisively transformed and launched Meteora, focusing on the Dynamic Liquidity Market Maker (DLMM) mechanism and proposing the core concept of a "community consensus network."

Key initiatives of this transformation include:

• Technical Upgrade: The DLMM mechanism optimizes capital efficiency and supports dynamic price range settings, significantly increasing the profit potential of liquidity providers.

• Community Restructuring: Through the LP Army Bootcamp and MET token incentives, we will transform users from passive participants to active co-builders.

• Ecosystem Integration: Collaborate with projects such as Jupiter, Orca, and Candle to expand trading volume and user base.

• Globalization: Reach the global LP community through multilingual support and regional teams. By early 2024, Meteora, through a points system and community activities, had boosted its TVL from $40 million to $160 million, placing it at the forefront of the Solana ecosystem in terms of daily trading volume. Its current TVL has reached $800 million.

  

  Meteora has demonstrated through practical actions that an excellent consensus-building system can also boost DeFi growth in this bull market.

  LP Army: An Education-Driven Consensus Engine

  Meteora's LP Army Bootcamp is a core pillar of its community operations. This free, two-day monthly educational workshop aims to transform new users into qualified liquidity providers through hands-on, on-chain training. As of 2025, the bootcamp has held 16 sessions, producing over 15,000 certified LP graduates, encompassing both beginners and advanced users. Courses are led by experienced LPs (such as HeavyMetalCook, GeekLad, and OttoCatalytic) and cover topics such as DLMM operations, liquidity strategies, impermanent loss management, and fee optimization. Live and recorded sessions are available, ensuring flexible participation for users worldwide. Where Seed Users Come From: Meteora primarily targets liquidity providers and meme coin issuers on Solana. The platform's tools are particularly attractive to yield-seekers seeking capital efficiency and projects seeking a fair launch of infrastructure. One article noted, "Meteora is seeking to partner with liquidity providers committed to supporting the platform and Solana in the short and long term." This, in effect, attracted early LP enthusiasts (such as meme coin traders) and communities from launch platforms like Moonshot and Jupiter. The initial seed users were active LPs and early Solana traders. The explosive growth during the $TRUMP meme coin launch in 2025 demonstrated that the meme community was a key driver. Between February and March 2024, Meteora's TVL jumped from approximately $40 million to $160 million, a feat the team attributed to the LP Army: "We couldn't have done it without you!" This demonstrates that thousands of enthusiastic LPs formed the foundation of the early community. Early content creators, such as crypto Twitter personalities and LP strategy educators 0xSoju and HeavyMetalCook, also contributed to the dissemination of knowledge. After the official launch of the LP Army and bootcamp, these enthusiasts were further transformed into staunch supporters.

  Bootcamp Process

  Bootcamp employs a rigorous hands-on and assessment process to ensure participants truly master LP skills:

  • Day 1: Participants deposit at least $100 in liquidity in non-stablecoin trading pairs and hold positions for at least one hour to receive the "Boot Camp Trainee" Discord role.

  • Day 2: Pass an exam to verify positive returns, submit screenshots of your holdings, and pass manual review. Those who pass will receive an NFT graduation certificate and be promoted to the "LP Army Private" role.

  Requirements include:

  • Continuously participate in the course for at least one hour.

  • Provide at least $100 in liquidity, choosing non-stablecoin trading pairs.

  • Achieve positive returns by the end of the course.

  Completers will not only receive an NFT certificate and community status, but will also unlock access to advanced training courses, a dedicated Discord channel, and community tools like the profit tracker and Dune Analytics dashboard. This "learning + practice + certification" model effectively identifies users willing to contribute to the protocol long-term. Effective Role Promotion Meteora's LP Army isn't a loose community; rather, it's an organized network where role promotion is tied to contribution. Its identity system is divided into four tiers, ensuring a closed loop for community members from participation to empowerment and benefits:

  

  Several core roles have emerged in community operations, including training instructors (such as GeekLad and Otto), community educators (such as content creators like Narko and Tuuxx), and regional ambassadors/captains (LP Army Regional Squad Leads are planned). Bootcamp graduates can obtain exclusive statuses such as "LP Army Private" and can upgrade to senior LP Army members in the future. The official Meteora Rising Incubator is also being supported to recruit experienced professionals and sub-DAOs (such as GooseDAO and DED LP Army) to participate in ecosystem development. Incentive Mechanism: A Trinity of Product, Governance, and Recognition Meteora's incentive system, through a three-pronged approach of economic rewards, governance participation, and recognition incentives, deeply aligns user behavior with protocol benefits. Governance functions are derived through the LP Army. Incentives: Fee Sharing and MET Points Locked Liquidity Fee Sharing Meteora's initial liquidity is permanently locked through Moonshot, with all transaction fees distributed to liquidity providers (LPs), initial deployers, partners, and DAOs. Regular transactions are split at 33%/33%/33%, while referral transactions are split at 25%/25%/25%/25%. The M3M3 mechanism further innovates by allowing projects to design "sprint staking" rewards, where the top N stakers share SOL and token rewards proportionally. The rewards are divided into redeemable SOL rewards and automatically reinvested token rewards, encouraging long-term staking. For example, the Memecoin pool's fee distribution proposal ensures no fees are burned, attracting partner protocols like PumpFun to use Meteora.

  

  MET Points System

  Users earn points by providing liquidity and inviting friends. Points can be redeemed for future MET token airdrops or privileges. The community-built "MET Leaderboard" displays real-time rankings to stimulate competition. After the points system was launched in early 2024, TVL surged from $40 million to $160 million, and trading volume ranked among the highest on Solana, demonstrating its incentive effectiveness.

  • Points Earning Rules: Every $1 TVL/day = 1 point, every $1 fee/day = 1000 points.

  • Points Platform: Community-built tools (such as the MET Leaderboard) will be used to calculate and visualize points rankings.

  • Point Usage: Points are expected to be redeemed for MET token distribution or incentive programs (details to be determined by the DAO).

  Governance Incentives: MET Tokens and DAO Empowerment

  MET tokens are the core of Meteora's governance. With a total supply of 100 million, 80% is controlled by the DAO, and 20% is allocated to early MET holders and contributors (including a 2% reserve for core contributors, with a linear vesting period of 6 years). The DAO empowers the community with decision-making power through the ve-MET lock-up voting mechanism, covering key parameters such as the fee curve, lending protocol integration, and token issuance schedule. Governance proposals are openly discussed on the official forum, and plans are in place to introduce on-chain voting to ensure participation from small and medium-sized holders.

  The team and foundation hold 20% of the tokens in a multi-sig wallet, with a linear vesting period of 6 years, aligned with the project's long-term goals. The community proposal also includes plans to incentivize content creators and global moderators, demonstrating its commitment to decentralized governance. Honor Incentives: NFTs and Community Recognition • NFTs and Badges: Bootcamp graduates receive NFT certificates, and those who complete Galxe tasks receive exclusive OAT (On-Chain Achievement Token). The LP Army established an "LP Hall of Fame" to recognize annual contributors, such as Crypto Twitter celebrities 0xSoju and HeavyMetalCook.

  •Role Promotion: Upgrading from Trainee to Core Contributor grants users increased privileges (such as exclusive channel access and proposal priority) and honors, enhancing their sense of belonging.

  This multi-tiered incentive directly links user behavior (providing liquidity, content creation, and community management) with rewards (points, tokens, and honors), preventing the phenomenon of "freeloaders" and ensuring that rewards flow to long-term contributors.

  Using External Tools to Assist Strategy Implementation

  To better implement the entire system, LP Army also leveraged the following tools

  • Galxe Community Quests:The official LP Army Quest page has been launched on Galxe to encourage users to participate in community building and receive rewards. Through Galxe Quests, users can complete tasks such as staking and sharing to earn NFTs, points, and Discord privileges, effectively onboarding new users to Meteora at a low cost.

  • Data and Analytics Tools:Dune Analyticsdashboards have been developed by community members to track key metrics such as DLMM revenue, TVL, and user growth. Examples include Geeklad's "Fee/TVL Dashboard" and kagren0's PnL Leaderboard, which can help LPs optimize their strategies.

  

  • Community Collaboration Tools: In addition to Discord, the Meteora team hosts AMAs and Bootcamp live streams on Twitter/X, YouTube, and other channels, and uses platforms like GitBook and Notion to maintain documentation and tutorials. Based on community proposals, they also established Telegram community groups and Twitter Spaces to spread information about activities.

  Globalization Strategy: Building a Cross-Cultural Consensus Network

  From its inception, Meteora has positioned itself as a global community consensus network, reaching a broad user base through multilingual support and localized operations

  • Multilingual Bootcamp: Supporting Chinese, Spanish, Turkish, Malay, and other languages, the first Chinese bootcamp was successfully held in June 2025. The Chinese community account @MeteoraCN is responsible for content distribution, attracting coverage from Chinese crypto media (such as Binance TechFlow).

  • Regional Squads: By 2025, we plan to establish regional teams for Asia Pacific, Europe, Latin America, Africa, India, and North America. Each team will have its own Discord role, activities, and local leaders, with leaderboards to incentivize participation. For example, MeteoraMY in Malaysia has already established an active local community.

  • Global Collaboration: We will collaborate with Solana ecosystem projects such as Jupiter (liquidity aggregator), Orca (AI arbitrage bot development), Sanctum, and Sharky to jointly host events and expand our user base. Weekly community calls will publicly share development progress and governance decisions to enhance transparency.

  In terms of global marketing strategy, Meteora's approach is essentially the same as Go2Mars's:

  

  • Differentiate your user base by region and implement targeted differentiation initiatives for each region

  • Core users and creative users will be screened and educated using the role development system.

  Operational Closed Loop: Screening → Cultivation → Solidified Growth Engine.

  Meteora's LP Army operational logic can be summarized as a three-tiered collaboration:

  1.Selecting Real Participants: Bootcamp eliminates speculators and attracts genuine LPs through on-chain tasks (minimum $100 in liquidity and positive returns) and manual review. Galxe's task platforms (such as "Solana Safari") further screen active users through social tasks (following, tweeting, and providing liquidity). 2. Cultivating Community Consensus: Discord sub-channels, status promotions, and localized management foster user engagement. Community tools (such as the Dune dashboard, profit tracker, and IL calculator) help LPs optimize their strategies, while weekly strategy sharing sessions and community livestreams foster engagement. 3. Solidifying Long-Term Contribution: MET points, M3M3 staking, and DAO governance tie user behavior to token rewards, ensuring community members become long-term stakeholders in the protocol. For example, the M3M3 mechanism mitigates memecoin selling pressure through "race staking" and encourages long-term holding.

  This closed-loop integrates education, incentives, and governance, building a behavior-driven consensus network and avoiding short-term user churn caused by "airdrop-and-leave."

  How to polish jade by learning from others' experience

  After analyzing Meteora's consensus strategy, Go2Mars is currently experimenting with implementing this strategy system. If you're a hands-on investor, here are some key points to keep in mind:

  1. Ensuring product professionalism:Meteora's ability to build an LP army stems from its operational strategy alone; the core reason lies in its product's attractiveness to professional investors. The key to successful market manipulation is self-awareness. If your product is mediocre, or if you're just a shell app, simply focus on attracting users and then listing on an exchange.

  2. Seed users determine the landing path:If your community is already a professional crypto community, you can simply copy the above path. If your community is filled with profiteers, you'll need to filter out this active but low-quality traffic and integrate external marketing efforts. Otherwise, you'll encounter significant obstacles.

  3. Community activity is the key prerequisite for executing the path:You must first activate community activity before executing the path. You can choose to mobilize your core builders for support, or you can also conduct external marketing... In short, activity is essential. Otherwise, no matter how well-designed the campaign is, it will be in vain without user participation.

  4. Strongly tie community incentives to product:It's crucial to find a way to tie community incentives to the intensity of product interaction, otherwise you'll only reap a false sense of prosperity. At the same time, the incentive system must be clearly established; if users don't buy in, promoting it will be difficult.

  We hope our research is helpful to you.