Meteora Town Hall #5 Recap — Launch and Snapshot date confirmation

On February 1 2023, we held our fifth community town hall and provided updates on the Meteora launch as well as token allocation snapshot. We also had a productive discussion on bootstrapping the Meteora token and community.

Here’s a rundown of the key points covered:

Meteora Launch and Snapshot Updates

• The official launch of Meteora and token allocation snapshot is set for Thursday, February 9, 2023.
• All current Mercurial liquidity pools will be migrated to Meteora, and existing LPs do not need to take any action as the liquidity will be transferred automatically.
• The introduction of on-chain farms was discussed, where LPs must deposit their LP tokens to the farms in order to receive rewards.
• Mercurial finance’s website will be retired, but the old rewards page will still be accessible for a limited time for users to claim their unclaimed tokens.
• We have two upcoming integrations with Drift and Frakt lending pools. We want to engage the community in evaluating these protocols before the integration. If you have any questions or concerns, please share them with us. Our goal for this evaluation process is to be community driven in future integrations.

Bootstrapping Discussion Highlights

• When the topic of airdrops came up as a way to broaden the Meteora stakeholders and participants, some community members expressed concerns about token dumping that often accompanies airdrops. We discussed possible solutions such as airdropping locked tokens, implementing buyback mechanisms, and avoiding liquidity for the token initially.
• To establish confidence in the Meteora token and successfully bootstrap it, we need to focus on building token utility and demonstrate solid tokenomics to minimize price volatility.
• To motivate more participation and contributions to the project, we discussed incentive options like allocating MET tokens or providing exclusive community NFTs to key contributors as a reward for their roles.

It was a productive discussion with insightful suggestions and references on how to shape the token and community engagement through strategic airdrops and tokenomics design.

We would love to hear your thoughts on these topics. Come join our Discord and help us build the best community-driven capital allocation layer for Solana!