Upbit Lists Meteora (MET2) Token on Solana Blockchain
South Korea’s leading crypto exchanges expand Meteora access, with Upbit listing MET2 and Bithumb offering MET for KRW spot trading.
BTC
USDT
SOL
Fact Check
The assessment is "likely_true" with high confidence based on corroborating evidence from two separate, credible sources that support both parts of the statement. The most critical part of the statement, the listing of Meteora (MET2) on the Upbit exchange, is explicitly and directly confirmed by a news entry on the crypto data platform RootData. The second part of the statement, that the token is on the Solana blockchain, is confirmed by a high-authority source, Forbes, which provides a link to the token on the Solscan block explorer. The remaining sources are irrelevant and provide no information on the topic. As there is direct, uncontradicted evidence supporting both claims in the statement, it is very likely to be true.
Summary
Upbit and Bithumb are both set to list Meteora tokens on November 18. Upbit will launch MET2 trading pairs with KRW, BTC, and USDT, using a unique code to avoid confusion with delisted Metronome (MET). MET2 serves as the utility token for the Meteora decentralized liquidity project on the Solana blockchain, employing DLMM and DAMM mechanisms for market efficiency and offering staking and governance features. Separately, Bithumb announced the listing of the Meteora (MET) token for spot trading with KRW pairs, marking an additional access point for Korean investors.
Terms & Concepts
- DLMM (Dynamic Liquidity Market Maker): A liquidity model that adjusts parameters to optimize trading efficiency and price stability in a decentralized market.
- DAMM (Dynamic Automated Market Maker): A type of automated market maker that uses variable parameters to manage liquidity and pricing based on market conditions.
- Staking: The process of locking cryptocurrency in a protocol to earn rewards or participate in governance.