Meteora Airdrop: How to Earn Yield and Qualify for Future Rewards
The crypto community has seen significant changes since the collapse of FTX, which impacted various web3 platforms, including Mercurial, a leading decentralized exchange on Solana. In response, Mercurial has rebranded as Meteora, a Solana-based staking protocol focused on sustainable, long-term liquidity.
What’s the Significance: This article seeks to guide readers on how to be qualified for Meteora’s future airdrops. (Read more: Ultimate Guide to Solana Airdrops 2024)
Introduction to Meteora
- What is it: Meteora is a liquid staking protocol aiming to transform Solana into a primary trading hub by driving long-term liquidity to the platform.
- The Goal: The platform’s tagline is “Make Solana Liquid Again.”
- The Role of Community: Meteora seeks partnerships with liquidity providers (LPs) committed to supporting the platform and Solana in both the short and long term.
Meteora’s Key Products: As a liquid staking protocol, Meteora offers multiple pools where LPs can provide liquidity.
- DLMM Pools: LPs earn fees and liquidity concentrations in real-time through a Dynamic Liquidity Market Maker (DLMM), with the option to select a preferred volatility strategy.
- Dynamic AMM Pools: Automated market maker pools allow LPs to earn additional yield via lending sources and traditional swap fees.
- Dynamic Vaults: These optimize capital utilization by distributing assets to lending pools, generating yields for LPs.
- Multitoken Stable Pools: Combine liquidity from multiple assets, enabling LPs to diversify holdings and improve capital utilization.
- Non-Pegged Stable Pools: Maintain the pegged value of assets within the pool and offer yields.
Meteora’s Key Features: Because Meteora is using DLMM, the team assures the platform’s LPs that this feature will cause:
- High Capital Efficiency: DLMM supports high-volume trading with low liquidity requirements.
- Zero Slippage: LPs can swap tokens with zero price impact within an active bin.
- Dynamic Fees: LPs earn dynamic swap fees during high market volatility.
- Flexible Liquidity: LPs can tailor liquidity distributions to their strategies.
How to be a Liquidity Provider in Meteora
- Step 1: Go to https://app.meteora.ag/.
- Step 2: Choose a pool of token pairs.
- Step 3: Connect a wallet. Accepted wallets are Solflare, Phantom, and Backpack.
- Note: Make sure that the wallet to be connected has the asset of the selected pool.
- Step 4: In the “Deposit” part, type in the desired amount of asset to be provided.
- Step 5: Choose the “Deposit” button.
- Step 6: Confirm the transaction.
Take note that rewards will be received after providing liquidity. The longer the assets are deposited, the more rewards will be received.
About the Airdrop
- In our May report about Meteora’s airdrop, Meteora was having a points tracking campaign.
- However, as of August 13, 2024, there is already no written airdrop information on Meteora’s documentation and main page.
- In fact, a guide created by online magazine Biztech Africa teaches readers to go to Meteora’s airdrop page and be an LP in different pools, and invite friends to earn crypto points.
- Thus, there is speculation that the airdrop campaign related to Meteora’s launch of its native token, called $MET, has already ended.
- The campaign was first announced in early 2024 and is scheduled for early 2024 only.
- Interested airdrop farmers can still provide liquidity to be eligible for future campaigns, or at least earn points, assuming that the $MET campaign continues.
- What’s Next: The $MET token has not yet launched, and airdrop rewards are expected to be distributed alongside the token launch.
This article is published on BitPinas: Meteora Airdrop: How to Earn Yield and Qualify for Future Rewards
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