Potential LP Army “Working Group”
When it comes to increasing awareness around Meteora, Kash from Superteam suggested a combination of a “left curve” content strategy involving loud, vibey, and meme-focused content, plus more sophisticated educational content such as the ongoing DLMM Strategy Sessions.
C2yptic, who’s part of the Jupiter Core Working Groups (CWG), suggested that we follow Jupiter’s lead and organize our own Meteora working group to help disseminate educational content. Perhaps we can call it the LP Army working group! Kash supported this and felt that we would be able to generate more value by staffing this working group with active community members and elevating more community voices (shoutout to Geeklad and Otto!).
To discover such community talent, we can organize educational bounty contests or even meme-creation contests! Kash kick-started this by crowdsourcing contributions for a “Lil Met (Meteora Intern) Twitter Account”. Participate in discord here!
- Create memes around Met/Little Met
- Reply-guying across crypto twitter
- Occasional meme videos
- Sourcing other high quality content from the discord community
LP Army Training
Geeklad, our LP Army “Lieutenant”, brought up an important point — that new members of the LP Army would likely need swimming lessons to get started on liquidity pools and this could be done through an LP Army boot camp.
When it comes to new users, Ben suggested that we adopt and preach the “LP coffee time” mentality, through which we can ease into LPing without needing to be “always on”. When you have more time, you can hold liquidity in a position that requires you to be more active with constant monitoring and rebalancing. But if you are busy, you can simply transfer that liquidity to a more chillout, less aggressive pool, or use Kamino vaults that can manage your position on your behalf. Even more experienced LPs like Geeklad seemed to have benefited from that approach!
Current efforts to train up our LP Army includes training calls such as our LP Office Hours and our DLMM Strategy Sessions.
Check out our latest DLMM Strategy Sessions:
- DLMM Strategy Sessions #2 ft. @OttoCatalytic and @GeekLad: https://www.youtube.com/watch?v=TVilL1plhCE&t=2s
- DLMM Strategy Sessions #3 https://x.com/MeteoraAG/status/1770074834015506497
Socializing the LP experience
As mentioned previously, we are exploring the idea of an LP telegram bot to make it easy for LPs to add, withdraw, manage, and share their liquidity positions with a few simple commands.
We are in discussions with the Dialect team to provide alerts and notifications on telegram for LPs and also allow them to easily follow and copy the liquidity actions from each other e.g. copy what to LP into, when to get out or rebalance.
Through such a bot, we can potentially socialize the LP Army experience and LPs can share and execute strategies together all while chatting online. Like Kash said, the more we turn DeFi into a multiplayer game, the more addictive and effective it is going to be!
Build more Meteora data dashboards
Community member jgillz called for more public data dashboards that can help LPs make informed decisions when executing their liquidity strategies.
For instance, jgillz has a hypothesis that LPing in a pool with a token that has opposing DCA flows (having both buy and sell DCAs for a token) over a period of time could be ideal for earning fees and achieving profitability, since the net price change is likely not that high and thus less likely to incur impermanent loss when concentrating liquidity. He would like to see a dashboard that is able to seek out inflow/outflow opportunities for a token, especially a token with high volume and relatively low price movement.
Geeklad answered his call! He built a Dune dashboard that provides visuals and details related to Jupiter DCA orders.
If a token appears in the upper left visual has approximately the same inflow/outflow, it might be a good candidate for an LP. If there’s a token with high one-way flow, it could be a good candidate for single-sided LP or just straight-up buying/selling in opposition to the order.
Geeklad’s dashboard can also be used together with kagren | zippy stake pool ‘s Dune dashboard that provides a broad overview of DLMM fee stats.
In addition, Durden requested for a dashboard to compare LP strategies directly, with the ability to track the impermanent loss of whole pools, similar to https://dune.com/jarryx/solana-defi-markouts. By seeing which strategies perform better historically, LPs can then decide which pool (fee tier, bin step) they should deposit into, and what range they should use.
Sharing designs for upcoming features
We recently launched a new interim site called https://edge.meteora.ag/ to allow the community to test and give feedback on new features and experiments, before we deploy them to the main Meteora site. This would also help us quickly push out fixes for those of you who might need them urgently.
Here are some of the upcoming features we’re working on:
Auto-creation of multiple positions: To allow a > 69 bin range, we pushed a UI improvement to allow LPs to set a wider range by seamlessly auto-creating the multiple positions required to enable that range. We also display a breakdown of the costs invovled. Please try it out and let us know if you encounter any issues!
Permissionless DLMM creation on the UI: With this upcoming feature, anyone can create their own DLMM pool for any token pair, without needing help from the Meteora team.
Other upcoming features include:
- Customizable DLMM pool for new token launches.
- Revamping the priority fee system to facilitate transaction success, especially during periods of network congestion.
- MET points dashboard (UI ready, but data side still needs work so this is delayed)
Basic security checks for LPs
Here’s a gentle reminder for everyone in our LP Army to conduct their own due diligence on a token before you purchase it!
Scammers who create a new token may lock their token liquidity to provide a false sense of assurance to LPs. However, these scammers retain the Freeze Authority function for the token and LPs end up purchasing the token to add liquidity to the pool, only to realize later that they are unable to swap or transfer those tokens. Scammers with minting authority can also mint a lot more tokens to sell at the disadvantage of existing LPs.
Tip: Prior to purchasing a token, LPs can first paste the token address on https://rugcheck.xyz/ to check if it has any risks.
Stay safe out there!
Thank you Geeklad, c2yptic, jgillz, Otto, Kash, Durden, kagren | zippy stake pool and others for your contributions to the call!
