Meteora to Launch $MET Token on Solana Amid Market Manipulation Allegations

Meteora announces the launch of its MET token airdrop and reveals details of its tokenomics, as market manipulation allegations surrounding the project persist.

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JUP

187d ago

Fact Check

The evidence strongly corroborates all parts of the statement. Multiple sources (7, 11) confirm that Meteora, a Solana-based protocol, is launching its native $MET token. These same sources, along with others (1, 2, 4, 5), explicitly place this launch in the context of a previous controversy involving allegations of market manipulation, a pump-and-dump scheme, and insider trading related to other tokens launched on the platform, which resulted in the resignation of a co-founder.

Summary

Solana-based decentralized exchange Meteora is set to launch the MET token airdrop today at 20:00 Beijing time. The token, with a pre-market valuation between $13.5 billion and $15 billion, features a tokenomics structure with 48% unlocked at TGE and 52% locked for six years. Users can claim MET tokens directly or as liquidity positions. The launch follows ongoing market manipulation allegations against one of its co-founders.

Terms & Concepts

Token Generation Event (TGE): A scheduled event during which a blockchain project creates and releases its native tokens to the market or investors.
Tokenomics: The economic design and structure of a cryptocurrency or token, detailing its supply, distribution, and utility within an ecosystem.
Liquidity Positions: Positions held in liquidity pools on decentralized exchanges, allowing users to earn transaction fees in exchange for providing liquidity.