Hi all, now that JUP has launched and MET points have kicked off, we wanted to give MER holders an update on your JUP & MET allocations. The team has worked tirelessly all these years to drive value to our holders, so this is a special moment for us.
As per our on-chain snapshot of MER holders on Feb 2023, 1 MER will receive ~1.2 JUP and ~0.0749 MET.
Your JUP allocation will unlock at the same time as the team’s which starts in Feb 2025. For MET, you will be able to claim your MET as veMET later this month when we form the MET DAO to begin voting on the proposals that the community has been working on. Your veMET will be locked for 1 year. MET will not be liquid at the start however we expect to have a liquidity event later this year.
If you held MER in FTX, we will need some time to verify holdings, however, we have accounted for it already within the 5% of JUP. And for MET, the DAO will finalize the allocation once verification has been determined.
For the timeline of events and our previous postings:
Dec 2022: We first posted about the Meteora Plan after the collapse of FTX and began our first community discussions around the plan.
Feb 2023: Meteora goes live. We took a snapshot of MER holders and deprecated MER.
Dec 2023: We made an update finalising the JUP allocation for MER stakeholders.
We have a tool for calculating your MET allocation and will work on one for JUP that we will announce once ready.
Thanks so much for your support throughout the years. We couldn’t have gotten this far without you.
Ben Chow
