Prior to this community call, we released an article about the benefits of using Meteora’s DLMM (Dynamic Liquidity Market Maker) and how it helps LPs make a lot more fees. If you’re new to DLMM, that’s a great place to start learning! Periodically, we will also give impromptu call sessions to walk through common DLMM examples.
For developers, you can find the DLMM SDK on our docs for instructions and examples to help you integrate DLMM to your protocol.
The next Meteora community call would be on 31 Jupuary, the day of the JUP token launch. Although we expect it to be quite a hectic day, we will still go ahead as scheduled. Feel free to join us in our “launch party” :)
If you want to be a liquidity provider for JUP, you can look forward to JUP-paired pools on Meteora once the token is live. As a bonus, the 10% LP Stimulus Program a.k.a. The MET points system would also kick off then. View the final scoring details in this post on our new Meteora forum.
Updates: MET DAO, 2% DAO Experts Proposal, and Protocol Fee Switch
Given this critical period for the JUP launch, MET DAO formation and the 2% DAO Experts proposal have both been pushed back to next month.
In addition, turning on the protocol fee switch remains on hold until we get more community feedback around how to implement it across Meteora’s various pools. Considering our volume and TVL targets, it may not be ideal to charge protocol fees on every pool. For example, we may exclude the stable pools or the 1bps pool, but charge for everything else.
Discussions around the JUP token launch on DLMM
The JUP token launch is just days away! In preparation, the team has been finalizing our audits and conducting several stress tests with mock token launches on DLMM.
Based on the test launches, on the actual JUP launch site, users should be able to deploy a few methods to acquire JUP:
- Swap for JUP when the launch begins
- Set DCA (dollar cost average) in advance
- Set Limit Orders in advance
Separately, 3rd-party telegram bots such as Fluxbot have also stated that they will support the purchase of JUP on telegram.
How was the DLMM curve designed for the JUP launch?
The final parameters have yet to be released but part of our goals and the thought process behind the design can be found in this tweet about Jupiter’s new LFG launchpad (beta), of which the DLMM is going to play an integral role. You can also check out this DLMM price curve simulator.
Projects can customize the single-sided DLMM curve based on their liquidity bootstrapping needs. For the JUP launch, the team is trying to be as fair and transparent as possible, with mechanisms that allow trading to start only at the same slot time and making the UI/UX straightforward for retail users, for instance, giving them the option to set their max priority fee to get trades through. In addition, the idea is to have sufficient backstop “buyer-regret” liquidity for price to stabilise before liquidity can be withdrawn by the team, ensuring that users are still able to sell if they want to.
If done correctly, the JUP token launch on DLMM would redefine how the new normal for a token launch would look like. With all of the lessons learnt from managing such a big on-chain launch in terms of infrastructure requirements, we would also help push Solana forward and make it more robust.
And building upon this foundation would be the upcoming token launches on Jupiter’s LFG launchpad and not forgetting Meteora’s MET liquidity event once we achieve our TVL and liquidity milestones.
Setting up a single-sided DLMM curve to acquire JUP
Users like vermi321 were interested in DCA-ing into JUP during the launch using a single-sided DLMM curve, by first depositing USDC or other tokens. For example, seeding a JUP/SOL or JUP/USDC pool in advance.
We’re looking into supporting such a pool before the start of the JUP launch. Contact benchow. on discord if you’re interested and give him the pool parameters you prefer, such as the initial price you want and the pair you want.
Note: There are risks involved in setting up such a pool and it is not exactly “buying JUP” at launch. For most retail users who want to have a higher chance of acquiring JUP quickly during the launch, the most straightforward approach would still be to use the tools available on the official JUP launch site created by Jupiter.
Carrium.sol also brought up a couple of important questions in the call:
When will the JUP drop for eligible MET holders (previous MER holder snapshot in Feb 2023) happen?
The latest details can be found here. More information would be available only later on after the JUP launch and MET liquidity event.
When will the DLMM x Kamino vault integration happen?
The integration is still in progress, but should be happening soon! The aim of the Kamino vault integration is to make it easier to earn fees for passive DLMM LPs who do not need much customization on their liquidity model and would rather not rebalance their position frequently on their own. Once Kamino has fully integrated DLMM and the MET points system kicks off, LPs can stack points from both systems.
The next community call would be a pretty interesting session, given that the JUP launch happening on the same day. Come join us on discord!
