I want to address an issue that I believe concerns all of us as active participants in the Meteora community. Since the end of 2024, I have been practicing DLMM , and I have recently encountered a growing problem: the unauthorized copying of my wallets by trading bots.
Why is this a problem?
Reduction in Fees: People who copy our strategies take a portion of the fees that would normally come to us. This means we take the same risks for reduced gains.
Impact on Token Prices: Some advanced bots sell their positions before we do, which lowers the token price. This forces us to sell at a lower price, reducing our profits or increasing our losses.
Inability to Farm on Main Accounts: I had to stop farming on my main accounts for the Meteora airdrop because as soon as I return to my wallets, I get copied. Even with new wallets, copiers find me quickly, maximizing their airdrop points at our expense.
Risk of Errors in Transfers: Frequently transferring large amounts between wallets increases the risk of errors, which is both stressful and inefficient.
Moral Injustice: We do all the work, take all the risks, and endure the stress of staying in front of the computer at all hours to make gains. It is infuriating that some copy our work without compensating us or asking for our permission.
How to Know If You Are Being Copied?
It’s quite simple: if on Solscan, every time you enter a position, you see the same address entering and exiting at the same time as you with the same amount of SOL, you are being copied.
Proposed Actions
I propose that Meteora issue a statement saying that all wallets copying without permission will be banned from the airdrop. I am willing to provide a list of all wallets that are copying me, with supporting evidence (screenshots, links, etc.).
These practices are unfair and need to be stopped. Although we cannot prevent copying on the blockchain, we can blacklist these copy trading wallets. If you find this as unfair as I do, make your voice heard. Give me your opinion, support me, and let’s make ourselves heard by Meteora. It is not fair for people who do no work and profit from us to also receive points for the Meteora airdrop!
I am attaching images of some of my wallets that are often copied to illustrate the problem.
In a way I totally understand you, but on the other hand, I think it’s completely useless.
1st Copy trading is popular in the last few months, maybe 2 max, and everyone who uses bots will have a significantly smaller allocation
2nd You can’t restrict someone or exclude them if they use all possible permitted means to earn
I wouldn’t agree with you that copy traders affect coin volatility or network congestion, but I agree that they affect tvl and the amount of fees we earn.
But at the end of the day, those who provide liquidity on meteora for a long period of time will have a significantly higher allocation than newcomers and especially copy traders who have only been there for a few months.
Thank you for your feedback. While it’s true that they will have fewer points than I do, they are still diluting the airdrop for everyone. This affects the airdrops for all participants, and it is unfair that individuals who simply set up a bot can earn more than those who have smaller amounts and are genuinely trying to learn DLMM. Some wallets copy my exact SOL amounts on entry, so they end up with significantly more points than smaller wallets.
Regarding your second point, it is possible for Meteora to make the situation fairer. If Meteora states that all wallets copying without authorization from the copied wallet will be banned from the airdrop, it would at least prevent them from benefiting from the airdrop. That’s why I created this post to gauge the community’s thoughts and see if they support implementing such a measure.
Perhaps I wasn’t clear about how this impacts the token’s value. When large amounts, such as $20,000 or more, are sold all at once, it significantly affects the price, especially when the market cap is low.
We seem to have misunderstood each other on the topic of network congestion. What I meant is that some trading bots sell before we do by paying Jito tips on transactions, not that we are causing network congestion.
Those 20k sales you mentioned are occurring very rare, and with high mc coins that doesn’t effect chart that much.
On the topic of bots that selling before you is also not that significant, coz in order for bot to sell you need to initiate the sale first.
So bot may be selling for the fraction of second before you sell.
On the other hand, then all the tools that are build by amazing builders should be labeled as sybil and all of them should be excluded from the drop including the devs that build them, coz you need to go back to the origin-the dev.
Taking all the previous airdrops, imo this is something that won’t effect allocation that much, coz bigger allocation will go to those who used Meteora longer.
I might be wrong, but I really don’t see this as big problem.
Frankly, having experienced it multiple times, you’re underestimating the impact that we, the wallets being copied, have on the token’s price. I’m not questioning the effort that goes into creating such tools, and I’m not suggesting they should be banned. I want to make it clear that my concern is specifically about wallets being copied without the user’s consent. I applaud everyone who has worked on developing these tools.
Personally, I believe that all these copying wallets have an impact on the entire airdrop, and most importantly, I think it’s unfair. I’m not sure if time is the primary factor in the allocation or if it will be based on the fees generated; this is something we can’t know for sure.
Love the idea, totally up for it, but pretty sure nothing going to be done about that.
All these multiple copy wallets will get the airdrop above the fees they stolen from you.
It’s not PvE, it’s clearly PvP. “You should have done the same” prolly ppl gonna say.
One way to get out of this situation would be to put a high minimum points threshold + linearity for the drop with a max cap so it would eliminate lots of sybil wallets.. but for the copy wallets.. difficult to target them I think.
Emphasizing on a snapshot before these copytrading tools came out would be a good way as well.
DLMM was better before the bots for sure.
I mean aren’t we all for true decentralization? Regardless of what your feelings are about being copied, it’s just that: your feelings. We should encourage liquidity not discourage it. The copy bots are net positive for the space and Meteora. They have encouraged more sidelined participants to actively deploy liquidity into the protocol.
It always amazes me how web3 participants are all of a sudden against the decentralization when it doesn’t benefit them. If you cherish web3s decentralization you should be ready to bear the cost of that decentralization.
Just because we support decentralization doesn’t mean we should encourage all unethical practices on the blockchain. I understand that we can’t outright ban such practices, and I’m not asking for the impossible. I’m simply asking that we refrain from giving airdrops to individuals who copy content without consent, which is feasible.
This is one way of thinking, but if it’s truly a law of the jungle and everyone agrees with that, I don’t like this vision. However, I will act by using decentralization to my advantage if that’s the only thing to do.
I wasn’t aware it’s unethical to copy someone’s trades that are publicly available on Blockchain.
I have been encouraging everyone to share their wallets with anyone they can so that the protocol that’s been our bread and butter for the past 1 and a half year can grow. I have reached out to copy bot devs to build a mechanism where the wallet being copied gets a percent of the fee generated so more people are inclined to share wallets.
But to say it’s unethical to benefit from publicly available data is just against the ethos of web3.
Each person defines what is moral or not. For you, it is; for me, it is not. I explained my perspective in point number 5: “Moral Injustice: We do all the work, take all the risks, and endure the stress of staying in front of the computer at all hours to make gains. It is infuriating that some copy our work without compensating us or asking for our permission.”
Moreover, these individuals can stay comfortably in their wallets and force us to constantly change ours. It’s just that we have different views on morality. However, I have understood your point of view, and I thank you for sharing it.
In of mikelmarcus’s proposal to ban unauthorized copy trading wallets from Meteora’s airdrop. Copying without consent reduces fees, impacts token prices, and is unfair to those who put in the work. Meteora should blacklist these wallets to ensure fairness for genuine DLMM participants. Let’s protect the community’s efforts and maintain equitable airdrop distribution.
I agree with you. I’m also being copied, and it makes me lose money on a lot of positions i take coz they selling on me each time i close my position. It’s messed up…
Yeah it’s supposed to be a PvE protocol where we all win, but in the end, these copy tools just make it worse. No action will be taken imo so I’d suggest you to make a new wallet !
Thank you for your message. For me, NFTs are not dead; the proof is that we use them for DAMM V2 with each position ^^. But anyway, the subject isn’t NFTs. I think your argument is that on the blockchain, we can perform all kinds of actions, and my response to that is: just because we can do something doesn’t mean we should do it.
I disagree, I don’t use bots but I think these tools have been available for only a few months, there is no issues imo. I really don’t get people getting mad cause they are copy traded, you’re on a blockchain, open to everyone, everything is so easy to track especially when people post wins with tvl.
To address unauthorized wallet copying, Meteora could implement a snapshot-based airdrop eligibility system, prioritizing users active before copy-trading tools surged. This rewards long-term participants while reducing the impact of copy bots, ensuring fairer distribution without undermining decentralization.
