But From Soju said : “Earlier on, during the Amendments to LP Stimulus Proposal, we proposed the removal of all multipliers. In line with this, Kamino’s 2x Multiplier has also been removed.”
This proposal is neither procedurally sound nor ethically justified. While some argue that the double multiplier for whales would dilute other users’ benefits, has sufficient consideration been given to the interests of retail participants? This initiative was widely promoted at the time - including by Meow and Ben who strongly endorsed it - and genuinely contributed significant TVL growth for both JUP and Meteora. For many early users unfamiliar with DLMM strategies, this served as their gateway to participating on Meteora.
The abrupt cancellation now disregards the interests of these early supporters, but what’s more damaging is the erosion of trust in the team’s credibility. If official announcements and programs can be arbitrarily revoked or adjusted, how can the community maintain faith in future initiatives?
I respectfully propose offering appropriate compensation to early Kamino LP participants - this would not only be reasonable but crucial for maintaining the team’s long-term reputation and uniting the broader user base.
It’s disheartening to hear such comments. Didn’t M3M3 receive compensation as well? Hmm, perhaps we should maintain faith in the team’s values at this time.
I think it is extremely reasonable that if multiplers were universally abolished, then Kamino’s multipliers would be abolished too.
It was done to reduce the dominance of whales for the airdrop, and ultimately benefit all users of Meteora. I think it was a reasonable decision that the community was in agreement for
What was the voting process for community approval? At the time, this program locked up a huge amount of TVL for JUP LPs, providing liquidity.
Even putting aside the removal of the 2x multiplier, the fee-earning calculations in Kamino were inaccurate—barely counted—with most points coming from TVL-based rewards. This is just unacceptable.
Thank you for taking the time to explain this. I’d like to kindly clarify something about Kamino LPs - as you can see in the chart below, their auto-rebalancing mechanism actually generates fees daily, so the observation about ‘most Kamino positions earning lower fees compared to TVL’ might not fully capture the reality.
These analytics can be complex - perhaps there were some unintentional discrepancies in the data methodology or technical tracking limitations that led to this situation.
