What to Know:
- Meteora launches $MET token with airdrops for eligible Solana users.
- Spot trading begins on major exchanges Bitget and OKX.
- Legal scrutiny arises over alleged meme-coin fraud involving high-profile endorsements.
The countdown is on for the launch of Meteora (MET), a new crypto token built on the Solana blockchain. Today, Meteora will roll out a major community airdrop and begin trading on several big exchanges, a moment many in the space are calling a “Solana event to watch.”
What’s Happening
Meteora is aiming to shake up how DeFi handles liquidity and token launches. Rather than just issuing tokens and walking away, the project is rewarding early supporters, liquidity providers and community members with a points-based airdrop. According to the official site, the airdrop and TGE will happen October 23, giving access to tokens immediately with no lockup period for many receivers.
Meteora was built by the team behind Jupiter, Solana’s largest DEX aggregator. It was born from the remnants of Mercurial Finance, which was wound down following the FTX collapse. To revitalize the protocol, the team created Meteora in 2023, promising to compensate legacy Mercurial users through MET token distribution.
Meteora currently commands 26% of Solana’s DEX market share, generating roughly $3.9 million in daily trading fees, eight times higher than Raydium’s $466,000. Its TVL stands at around $829 million.
What makes Meteora Different
With such a high-profile project launching a token, speculation is intensifying over Meteora’s FDV after launch. Polymarket shows that traders are leaning toward a valuation between $750 million and $1 billion one day after launch.
As of October 22, Polymarket traders are assigning a 98% probability that Meteora’s FDV will exceed $500 million, an 86% chance it will top $750 million, and a 53% chance it will surpass $1 billion. Expectations drop sharply beyond that range, with only 6% betting on a $2 billion valuation and less than 2% on anything above $4 billion.
Meteora describes itself as a “dynamic liquidity engine” on Solana. Rather than largely static pools, it aims to adjust how liquidity works depending on market conditions, making trades faster, cheaper and more efficient.
The tokenomics include a supply of 1 billion MET tokens. Around 48% (480 million) will circulate at launch, which is unusually high for a new token. The rest is held for team, treasury and ecosystem growth. Early users earn points through activity like providing liquidity, staking partner tokens, or using the network. Those points determine how much MET they will receive.
Controversy Ahead of Launch
As Meteora gets ready for its big launch, a class-action lawsuit claims that famous people like Melania Trump and Javier Milei were used as “props” in what the plaintiffs say were pump-and-dump memecoin schemes linked to Meteora’s network.
The MELANIA and LIBRA tokens were set up by Benjamin Chow, the founder of Meteora and his partners. Meanwhile Hayden Davis who is linked to the scandal is set to receive MET tokens.Community members quickly debunked the screenshot of the alleged allocation, and Meteora confirmed that no funds have been set aside for $LIBRA-linked wallets.
What to Watch
In a few hours users will be able to connect their Solana-compatible wallets, check their point allocation and claim tokens or liquidity position NFTs. With MET spot trading listing expected on major platforms like OKX, Bidget and more right away, trading volume could spike which is good for early participants, but also a test of how well Meteora can hold its own under sale pressure.
While the launch is high-profile, the longer challenge for Meteora will be actual usage: liquidity growth, trading activity, partner integrations and building a deep network. Because almost half the supply is unlocked at launch, there is a risk of large sell-offs.
Final Thoughts
Meteora (MET) combines a major token launch, a large community airdrop and multi-exchange support, making it one of the most notable DeFi launches heading into Q4. It brings fresh energy to Solana’s ecosystem by promising smarter liquidity and a wide-spread token distribution.
But as with all crypto launches, it comes with caveats. Whether users will stick around for the long term, or whether early interest fades into hype will determine its success. For now, today is the day to keep an eye on both for celebrations and for caution.
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