Here are the plan details:
- All liquidity earns points at the following rates:
- 1 pt per $1 of TVL per day
- 1000 pts per $1 of fees earned per day
- 1.3x multiplier for OG’s before Dec 1st 2023 at launch.
- 1.25x multiplier for everyone else at launch. This reduces to 1.20x in Mar, 1.1x in Apr
- Multipliers are wallet based. And will be revisited in May.
You will not earn points in the Dynamic Vaults. Only Dynamic Pools, DLMM, and Multi-token pools.
Points Starts Jan 31
Beta Tester Bonus Package
For LPs who have helped us during our DLMM Beta period from Dec 1st to Jan 31, we will come up with a bonus points package for everyone that will be determined at the end of our points system.
Dynamic Points System
The points system is intended to be dynamic to in order to allow us to improve the system, support partners, and curb abuse. We will be adding bonuses from time to time and plan to have one for the JUP launch. These bonuses will stack on your existing multipliers.
We may have to make adjustments to points based on people abusing the system. So, we recommend LPing in any x/SOL, x/USDC, x/USDT liquidity and avoiding exotic pairs as they may not end up being counted.
Both large and small LPs bring value to Meteora. While large LPs contribute to TVL/volume, the majority of product improvements and new use cases come from working with small LPs. We are thinking of employing a tiered system for MET tokens in order to ensure a more balanced distribution of MET. That said, Meteora’s main stakeholders are expert LPs who know how to generate profits from their liquidity on our DLMM. The tiering system will be finalized after the points system has ended and we have all the data, which will be shared with the community.
MET Liquidity Event
The plan is to have a MET liquidity event once our KPIs reach a major milestone that will be determined by the DAO.
A total of 10% of MET will be allocated according to this proposal. The council will determine the final schedule, but we are thinking of a schedule of 1% per month of MET starting when we begin the incentive program. If the token is not liquid, LPs will accrue points representing the token amount.If MET has a liquidity event 2 months after the start, the points system will map to 2% of the token and from there on, LP incentives will switch to the token.
For more details on the proposal you can read the medium post.