METvsvVRapdj9cFLzq4Tr43xK4tAjQfwX76z3n6mWQL
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Key risks surfaced in review. See Risks & controversies below for the sourced detail.
Meteora lost $1.5 million to an OTC scammer during a MET buyback after spending $1 million.
A lawsuit in U.S. District Court accuses the protocol and co-founder of pump-and-dump schemes defrauding investors of at least $57 million.
Co-founder and former CEO Ben Chow resigned amid insider trading allegations linked to the LIBRA memecoin collapse.
48% of the 1 billion MET supply entered circulation at TGE with no vesting across multiple stakeholder categories.
A $4.2 million MET airdrop went to Trump-linked addresses hours after the class-action lawsuit filing.
First drafts are compiled automatically from public and primary sources, with every claim cited. Anyone can propose edits, and every change is reviewed against primary sources before it goes live.
Updated by Tokenica
Meteora is a Solana-based decentralized exchange and liquidity infrastructure protocol that provides dynamic liquidity pools, including DLMM, DAMM, and Dynamic Vaults, for liquidity providers, launchpads, and token launches. The project maintains legacy products such as earlier DAMM v1 and farms alongside current offerings. The MET token, with contract address METvsvVRapdj9cFLzq4Tr43xK4tAjQfwX76z3n6mWQL and total supply of 1 billion, serves as the protocol's governance and utility token, supporting voting on upgrades, staking, and fee-sharing; it was distributed via TGE on October 23, 2025, with allocations including to Mercurial stakeholders under the Phoenix Rising Plan.
Updated by Tokenica
Meteora disclosed in its Q1 2026 Token Holder Report that it lost $1.5 million to an OTC scammer during an attempt to buy back MET tokens, after spending $1 million on approximately 7 million tokens. Co-founder and former CEO Ben Chow resigned earlier amid allegations of insider trading linked to the LIBRA memecoin collapse; a class-action lawsuit filed in the U.S. District Court for the Southern District of New York accuses him and the protocol of orchestrating pump-and-dump schemes across multiple tokens that defrauded investors of at least $57 million using celebrity endorsements. The same period saw a $4.2 million MET airdrop to addresses linked to the Trump team hours after the lawsuit filing, as reported by multiple outlets including The Defiant and Yahoo Finance.
Updated by Tokenica
Updated by Tokenica
MET has a total and max supply of 1 billion tokens. At the October 23, 2025 TGE, 48% (480 million) entered circulation with no vesting: 15% to Mercurial stakeholders, 5% Mercurial reserve, 15% LP Stimulus Plan, 3% launchpads/launchpool ecosystem, 3% Jupiter stakers, 3% CEX/market makers, 2% off-chain contributors, and 2% M3M3 stakeholders. The remaining 52% consists of an 18% team allocation and 34% ecosystem reserve, both subject to six-year linear vesting. The design includes no continuous inflation or emissions schedule beyond potential reserve incentives, with no burns or additional locks documented in the official Phoenix Rising Plan.
Updated by Tokenica
Updated by Tokenica
Updated by Tokenica