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StakingDeFi · Solana
Meteora
Author's status: ActiveUpdated: 2026-09-20
I stake MET. Bought at $0.20 or less.
Staking
- Token
- $MET
- Rewards
- A share of DLMM fees paid in USDC (APY not published)
- Note
- Started 2026-07-26. As of 2026-08-13, 2,442 stakers had staked 70M MET.
Valuation
- FDV (fully diluted)
- $338MMarket cap $189M
- FDV ÷ revenue
- 7.1xRevenue, last 365 days $47.6M12.0x on the last 90 days × 4 (annualized $28.2M)
- Author's cost
- $0.2Now $0.338484 (+69.2%)
- Multiple at cost
- 4.2xCost $0.2 or less → FDV equivalent $200M (revenue is the current 365-day figure)
- FDV ÷ holder returns
- —Buybacks, burns and distributions over the last 90 days: None (×4 to annualize)
- Note
- Buybacks are discretionary: $10M in 2025 Q4, then about $1M in 2026 Q1, and zero over the last 90 days on DefiLlama. About 7.2M MET from the team and reserve unlocks every month.
As of 2026-09-28. FDV and price from CoinGecko; revenue and holder returns from DefiLlama. The denominator is revenue, not profit, so this is closer to a price-to-sales ratio than a P/E. The author treats FDV ÷ revenue of 5x or less as cheap, but it moves a lot with revenue swings and unlocks.
TGE and points
- Current state
- Airdrop distribution and claims are over. Staking, which started 2026-07-26, pays a share of DLMM protocol fees in USDC.
- TGE
- $MET2025-10-23
- Points program
- No points
- Community allocation
- 48% of the 1B supply circulated at TGE (20% former Mercurial stakeholders, 15% Meteora users, 3% JUP stakers and others). Team 18% and reserve 34% unlock over six years.
Team, funding and user base
- Base
- Unverified
- Founders / leads
- Meow (pseudonym), Ben Chow (resigned February 2025)Formerly Mercurial Finance. A sister project of Jupiter with overlapping co-founders.
- VC funding
- UndisclosedNo VC round disclosed under the Meteora name. Funding from its predecessor Mercurial Finance (2021) appears only on aggregators and is not verified from primary sources.
- X followers
- 214.9K@MeteoraAGas of 2026-09-20
- User base
- 2,442 MET stakers with 70M MET (2026-08-13)Meteora community call (Solana Compass summary)
Risks and caveats
- LIBRA / MELANIA: co-founder Ben Chow resigned in February 2025. Chow and Meteora are defendants in a US class action (Hurlock v. Kelsier Ventures). Developments after October 2025 unverified.
- At TGE there was criticism over allocations to wallets that appeared to be insiders.
- About 22M MET unlocks every quarter.
- MET price $0.2512, FDV $250.7M (CoinGecko, 2026-09-20).
Links
Start on Meteora (ref link)
This is a referral link. The author may be rewarded when you sign up or trade. What is written here is not tied to those rewards.
Sources
This page is for information only and is not a solicitation to use any crypto asset or service. Airdrops and their amounts are not guaranteed, and you may lose the funds you deposit.