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Meteora has published an article explaining the TGE mechanism, and the MET one-stop portal will be launched in a few days.
BlockBeats News, October 15th, Meteora, Solana's ecosystem liquidity protocol, released an announcement explaining its TGE mechanism. Out of the allocated 48% token supply, 10% will be distributed through a liquidity distributor, allowing users to provide liquidity for MET immediately at the start of trading. The initial liquidity will be established for MET by the community, rather than the team, unlocking the power of Meteora's fee generation mechanism.
The early liquidity pool will only contain the MET token, with early buyers depositing USDC to provide the selling side with liquidity. Through this method, it ensures that MET has sufficient liquidity while rapidly growing the liquidity provider pool. Participants will receive a combination of USDC and MET rewards, with the specific ratio depending on MET's market price.
For example, when the market cap reaches around $1.127 billion (unit price $1.127), approximately 4.5% of MET will be drawn from the pool. This means that if a user receives a 100 MET airdrop, 45.0 MET will be sold for 33.77 USDC, accumulating 33.7 million USDC in the pool at that time.
The official one-stop portal for MET, met.meteora.ag, will go live in a few days. Users can participate in the liquidity distribution plan (10% of the total supply) on a first-come, first-served basis. All Jupiter staking users are automatically included, so the participation quota for airdrop recipients is 7%. Users can register on this page to join the 7% quota. Successful registrants will receive a liquidity position directly on the token generation day and start earning fees from MET trading. There is no need to claim additional fees to start accumulating rewards. On the token generation day, users can directly claim MET (or liquidity position) through the Meteora app and operate in any pool containing the MET contract address. This will achieve seamless claiming and immediate deployment of MET liquidity.
