Appreciate the proposal and the team’s willingness to allocate a portion of the treasury to the community.
Just wanted to share a few thoughts that might help make the distribution more fair and aligned with community expectations:
It may feel a bit unfair that long-term holders of $M3M3 are treated the same as short-term traders. Rather than relying solely on snapshot dates, incorporating factors like holding duration and whether tokens were sold could lead to a more precise and equitable distribution model.
A 6-year vesting schedule feels quite long, especially in the fast-paced Web3 space. While the intention to demonstrate long-term commitment is appreciated, a more flexible and realistic vesting structure could offer stronger incentives for both team members and stakeholders.
Many $M3M3 holders didn’t just receive tokens through an airdrop—they actively bought in and supported Meteora. These are users who showed real conviction and purchasing power. Prioritizing this group in the distribution could go a long way in rebuilding community trust.
Thanks again for all the work being put into this.
We need to unlock these 2% for users on TGE, why should they wait another year?
I suggest for everyone who did not have many M3M3 tokens to allocate a base reward. For example:
1-1000 M3M3 - base reward.
1000+ - linear.
I am writing to formally request a reconsideration of the current compensation proposal. As an early supporter of the project, I have actively contributed to its growth and success. However, due to decisions made by the team, I incurred a $5,000 loss when I unstaked and swapped out on February 16th—well before the snapshot was taken.
It’s become clear that the current compensation plan excludes a significant portion of the community that was negatively impacted. Many of us acted in good faith based on the information available at the time, only to be left out of the proposed relief due to an arbitrary snapshot date that does not reflect when the real damage control should have begun.
Notably, a Solayer team member publicly exposed that M3M3 was part of Libra—this was the real moment the community became aware of the deeper issues at play. That should be the basis for any fair snapshot, not the date arbitrarily chosen by Ben. The fact that this revelation came after many of us had already exited, unaware of the connection, highlights the flaw in the current approach.
This proposal, as it stands, fails to acknowledge the broader impact of the team’s decisions and neglects a large portion of affected users. Community trust in Meteora DAO is at stake, and ensuring fairness will be critical for maintaining long-term support.
I strongly urge the team to reevaluate the proposal and revise the compensation criteria to include those who exited prior to the snapshot but were clearly harmed by the situation—especially those who acted before the public revelation by the Solayer team member.
Thank you for your time and consideration. I hope to see an updated proposal that reflects fairness, transparency, and inclusivity.
It’s a good initiative, but why should the holders wait with the team? maybe you can give out 1% immediately and 1% in a year? We’ve suffered losses now and it’s not our fault, so why should I wait 1 year?
Why this cliff, unlock it on TGE! this is fair, that is, to lose money due to trusting the team in a couple of hours and waiting for your coins to be unlocked from staking, but I have to wait 1 year for the reward, despite the fact that the team has already earned one way or another on me. Don’t you think it’s weird?
Thanks Soju (and Team). Can you tell us the expected cliff for the team, please? I personally think six years is too much and think the team shouldn’t have to pay that much of a penalty above losing 2%, but it depends on the vesting schedule (i.e. a 50% unlock after 1 year, then 50% over 5, monthly, looks very different than something else).
Second, I mentioned this on the last community call: M3M3 was about buying additional “official” tokens in addition to the M3M3 locks. Taking into account these other tokens based on the M3M3 platform objectives seems important, and was one of the big areas of discontent on the M3M3 channel in discord. True believers in the idea of a diamond-hand score would have staked and potentially added all of the official tokens which I think were LGTB, AIAI and PUMPAI (others?) before things fell apart.
Suggestion: design weighting factors based on participation with the scoring objectives. Weight people who staked all of the official tokens to improve their “m3m3 score” higher.
Then use this to redistribute MET allocations after the initial M3M3 snapshot calculations. For example:
0.7 M3M3 stake only
1.25 stakers of all “official” tokens
1.05 stakers of M3M3 plus some subset of “official tokens”
So if Alice held 5% and Bob 1% of all the M3M3 staked, but Alice only staked M3M3 but Bob staked all of the tokens, and 2% of MET issued is 20 million, then the allocations would be:
Alice: 2% of MET * 5% * 0.7 = 14,000 MET
Bob: 2% of MET * 1% * 1.25 = 5,000 MET
And Bob gets about a third of Alice while staking only one-fifth the M3M3. Obviously you can play with the weightings, these are hypothetical. Also, I’ve excluded market-making allocations to make the math simpler.
You could also make it more strict: only have a multiplier for true “all official token” stakers who also added, and no partial stakers, like this:
0.7 M3M3 stake only
1.3 stakers of all official tokens who also added to all
A lot of us got hit not just on m3m3, but for example AIAI and PumpAI too. Can’t say anything for third-party projects, but there was a perceived umbrella — especially with how m3m3 was framed unfortunately. Like Otto, a lot of LP Army members (ded, geese, etc) staked early and stayed locked in until… well, a lot of us are actually still staked on multiple of these.
On DED, it’s deeper. We spent nearly all our DAO treasury (~100 SOL accrued over a year) on the m3m3 pool to support the PPP ecosystem, based on convos with the community and the idea that DED could continue aligned with these ideas. That narrative carried weight - Meteora fully supported m3m3, and community sentiment always saw it as part of the family.. Right at the start, when the news of the m3m3 team sniping some of the supply, thing felt a little weird, but we were assured this was nothing to worry about.
Regardless, the community stuck together and we are here for the long run. The important thing now is to continue building & reward those who contribute to the ecosystem, in whichever way they can.
No one is asking for handouts, just closure. Some form of MET allocation or gesture for DED and the community would go a long way. I hope other members can chime in and share their thoughts.
Finally, thanks Zen & Soju & the rest of the team for listening to our feedback and navigating all this.
DED community born from the Meteora should be considered as well if possible. It’s a small community with mostly strong supporters of Meteora and LP users.
I’m not a M3M3 stakeholder, but vesting period of 1 year or distribution after one year of TGE sounds too long. I think it should be distributed on the day of TGE and just give stakeholders the choice what to do with their appreciation reward. the long duration just kills off the steam and if I were to be the allocation eligible user, I’d rather have smaller allocation with shorter vesting period. I’ve never seen these kind of delays actually help sustain the tokens, rather not having the allocation at all would be more helpful.
Team deserves a good allocation. Seeing that spread over 6 years makes more sense to me too. You have already took a hit for 4 years. Not sure you need to go another full 6.
Focus on repairing brand loyalty should be on the true believers who got hurt in all of this, but didn’t fud. In any way possible I would focus on people who got hurt but are still active on Meteora in one way or another.
Those that got hurt because they bought in to the PPP concept of M3M3 as they tried to climb the staking ladder. But they are still around support the project.
And the communities like DED who were just breaking away from Ben and getting started only to get a punch in the gut from all of this, but they are still here with full support for Meteora.
You guys are Chads, I’m sure you will sort it out the best you can. Either way we got your back.
Just wanted to chime in and agree with what the DED Council shared above. If Ben isn’t coming back, it might be time for someone from the current Meteora team to consider picking up DED and giving it some direction. I get that it was supposed to be a community experiment, but people put serious money into it—thousands per NFT, plus token buys—because they believed in Ben and, by extension, Meteora.
Nobody’s asking for handouts here. But the DED community showed up early, staked, supported the PPP ideas, and even spent nearly all our DAO funds (100 SOL) on the $M3M3 pool thinking we were backing something that had Meteora’s support. Then it went silent.
Now $M3M3 holders are getting 2% of MET (from the team’s 20%), which is a great gesture—but if MET launches at let’s say ~$150M market cap and that’s only 15% of the supply, then 2% of the total supply is like ~$20 million. Surely a portion of that could be set aside for DED holders too, or even carve out a separate allocation from the 20% treasury pool.
At the end of the day, this is just about doing right by a community that backed this ecosystem hard. Even if it’s not an airdrop, maybe there’s a way to restart or absorb DED into something new with actual support behind it.
Appreciate y’all for listening and still being here through everything.
Awesome that the team is continuing to build for the future and keeps on pushing forward.
BUT as a community member who got pwned for supporting M3M3…I still don’t understand how this will be resolved
I hate beating a dead horse…but I’m not letting this topic/discussion die off - and at the same time, I don’t want to be posting about it on X all of the time
So what exactly is happening here? I barely see any replies from the team if any - and the team says they read everything
I can see that m3m3 was replaced with stake2earn - but why is m3m3 still even there? Is it even safe to buy and hold and stake? What about lgtb and pump and goat and OG…i get it is not fair to completely move on from this project/tech for all of the legit projects that are on there…but this whole thing isn’t even built by meteora and i feel its a huge thorn in the side of meteora…why did you choose to rebrand instead of removing it completely?
What is going on with the snapshots? its not even clear which m3m3 participants are included in getting the team’s 2% if that is even still the plan…
As i understand how the snapshots work, I won’t even be included since i got out of the burning building before ben officially announced it was on fire
people got seriously hurt supporting m3m3 after meteora shilled it as its official memecoin and I do not appreciate that this discussion is getting pushed to the side after it literally just got started