On October 23, 2025, Meteora will launch its MET token in what’s being called the most unconventional TGE in Solana DeFi history: 48% of total supply hits the market immediately, with zero vesting for community and user allocations.
No gradual unlocks. No artificial scarcity. No team dumping (team tokens vest 6 years). Just instant, full liquidity, a radical departure from typical token launches designed to prevent short-term sell pressure.
The Solana community is polarized. Some see Meteora’s “Liquidity Generation Event” as the future of fair token distribution. Others view it as a recipe for immediate price collapse as 48% of supply rushes to market simultaneously.
With Meteora controlling $800+ million in TVL on Solana and processing $39.9 billion in volume monthly, the stakes are enormous. Let’s break down what’s actually happening on October 23 and what traders should expect.
1.What Is Meteora?
Meteora is a decentralized liquidity protocol on Solana that specializes in dynamic fee structures and efficient capital management. The platform was originally launched as Mercurial Finance in 2021 with its MER token.
Then FTX collapsed.
The FTX problem:
Mercurial’s MER token launched on FTX via ICO. When FTX exploded in November 2022, “vast amounts of MER were involved in FTX,” stranding liquidity and destroying stakeholder confidence. The team faced a choice: rebuild or abandon.
In February 2023, they chose to rebuild. Meteora was born as a “clean start” rebrand designed to distance itself from the FTX disaster while compensating original MER stakeholders fairly.
Current metrics (pre-TGE):
– TVL: $800M+ (7th largest Solana DEX)
– January 2025 volume: $39.9 billion
– Infrastructure: Dynamic Bonding Curve (DBC), Dynamic AMM V2 (DAMM V2)
– Community size: 3,800 season 1 airdrop applicants (all approved)
Meteora isn’t a speculative play, it’s an established Solana DeFi protocol with real volume and deep ecosystem integration.
2.The “Phoenix Rising” Tokenomics: Revolutionary or Reckless?
Meteora’s MET tokenomics represent a fundamental break from DeFi launch conventions.
Traditional token launch structure:
– 20-30% immediately circulating
– 70-80% locked with vesting schedules
– Gradual unlocks over 2-4 years
– Benefit: prevents immediate sell pressure
– Problem: creates artificial scarcity and manipulation opportunities
Meteora’s “Liquidity Generation Event” structure:
Immediately circulating (48% of supply):
– 20% to Mercurial stakeholders
– 15% to Meteora users via airdrop/farming
– 3% to Jupiter stakers
– 3% to launchpads and market makers
– 2% to off-chain contributors
– 2% to M3M3 community
Non-circulating (52% of supply):
– 34% ecosystem reserve (6-year linear vest)
– 18% team allocation (6-year linear vest)
Key innovation: Liquidity Distributor
Instead of direct token airdrops, ~10% of circulating supply distributes as liquidity positions,LP positions that automatically earn trading fees while gradually selling the holder’s allocation.
The philosophy:
Remove artificial scarcity. Eliminate team/VC dumping. Create immediate liquidity. Let the market discover true price, not manipulated tokens released strategically.
The risk:
48% liquid supply at launch creates massive immediate selling pressure. Retail traders who received airdrops and want profits will have an exit,and potentially crash the price before real adoption value is captured.
3.The October 23 Airdrop: Who Gets Tokens?
The airdrop rewards genuine Meteora users,not speculators who fomo’d in weeks before TGE.
Airdrop eligibility:
Season 1 (January-June 2025): 8% for 2024-2025 activities, 5% for 2025-specific participation, 2% for additional qualifying criteria
Season 2 (July onward): Continuing to earn points through liquidity provision in DLMM pools
Key metric: Points system
Users earned points by:
– Providing liquidity to Meteora pools
– Trading on the platform
– Staking in associated protocols
– Participating in governance discussions
All 3,800 Season 1 appeals were approved,suggesting the team wanted broad distribution to genuine participants.
The process:
On October 23, users connect their wallets to the Airdrop Claim tool built directly into the Meteora interface. Tokens appear instantly,no delays, no gradual distribution.
For traders: This means massive liquidity enters Meteora’s orderbooks immediately. MET/USDT pairs will have exceptional depth in the first moments.
4.Three Price Scenarios: What Happens October 23-30
Analysts have identified three likely outcomes for MET’s price action post-launch.
Scenario 1: Bullish (30% probability)
What happens:Initial volatility, but buyers absorb the 48% supply rush. Airdrop recipients partially take profits, but protocol fundamentals retain value.
Price action: Launch volatility, 20-30% swings in first hours, then stabilization. Early dump exhausts around day 3-5.
Catalysts: Jupiter integration, institutional interest, protocol utility narrative
Target: MET could outperform if Solana ecosystem embraces fair-launch tokenomics
Scenario 2: Neutral (50% probability)
What happens: Classic token launch,initial pump as excitement peaks, then extended consolidation as sellers and buyers find equilibrium. Prolonged price discovery period.
Price action: First-day enthusiasm, then 4-6 weeks of sideways trading. Volume remains high but price meanders.
Outcome: MET settles at true fundamental value reflecting Meteora’s actual protocol value
Timeline: Recovery takes months, not weeks
Scenario 3: Bearish (20% probability)
What happens: Airdrop recipients panic-sell immediately. 48% liquid supply creates overwhelming selling pressure. Price crashes 50-70% in first week.
Triggers: Market-wide volatility, Solana ecosystem stress, better competing launches
Recovery: Takes months or years; many airdrop recipients lose patience
The risk: This is the scenario keeping community members up at night
5.Why 48% Liquid Is So Controversial
This breaks every convention in crypto token launches for specific reasons:
Conventional wisdom says: Gradual unlocks prevent price crashes and allow team to manage liquidity
Meteora says: Gradual unlocks create manipulation opportunities and artificial value
The actual debate:
– Pro-instant liquidity: Transparency, no team dumping, real market price discovery
– Anti-instant liquidity: Overwhelming sell pressure, lack of runway for ecosystem building
The truth is probably somewhere in the middle. Instant liquidity prevents manipulation but creates short-term chaos. Gradual unlocks provide stability but create governance risks.
Meteora is testing which matters more.
6.Post-TGE: What MEXC Traders Should Watch
Assuming MET lists on centralized exchanges (timing TBD), MEXC will likely be among the first listings.
MEXC’s positioning for MET:
Deep liquidity ready: MEXC’s market-making relationships ensure sufficient initial liquidity despite volatility
Advanced order tools: Stop-losses essential during 48-hour post-launch chaos, MEXC provides them
Fast execution: 0% maker fees mean traders capture maximum upside without fee drag
Volume capture: If MET becomes legitimate, MEXC’s early listing captures trading activity
Trading strategy for MEXC:
Immediate (Oct 23-24):
– Avoid FOMO buying first 24 hours
– Watch for initial dump as airdrop recipients exit
– Set price alerts for key support levels
Short-term (Oct 25-31):
– Enter limit orders 30-50% below peak price
– Wait for volatility to normalize
– Use stop-losses religiously
Medium-term (Nov+):
– Evaluate if protocol utility justifies holding
– Monitor Solana ecosystem adoption
– Reassess if competitors launch stronger tokens
8.The FTX Legacy: Why October 23 Matters Symbolically
Mercurial’s MER token launched on FTX. When FTX collapsed, MER holders were devastated,tokens locked on a dead exchange, liquidity gone.
Meteora’s October 23 TGE represents something more than just another token launch. It’s a redemption story: the project that lost everything to FTX is rebuilding by prioritizing absolute fairness and transparency.
Whether this experiment succeeds or fails will define how Solana DeFi thinks about token distribution for years.
9.The Bottom Line: Historic Experiment or Cautionary Tale?
Meteora’s MET launch on October 23 is either visionary or doomed, depending on what happens in the first week.
If it works: We’ll see every project copy this “no vesting” model in 2026, fundamentally reshaping how tokens launch
If it fails: We’ll see renewed arguments for why gradual unlocks and vesting exist, they prevent chaos
What’s certain:
– $800M in protocol TVL proves Meteora’s technology matters
– 48% immediate liquidity will create historic volatility
– The Solana ecosystem is watching closely
– Fair token distribution is the narrative everyone’s chasing
MEXC will likely provide optimal infrastructure for trading MET whenever it lists. Whether you participate depends on your risk tolerance for an experimental launch structure and your conviction on Meteora’s long-term protocol value.
The October 23 countdown begins.
Disclaimer: This content is for educational and reference purposes only and does not constitute any investment advice. Digital asset investments carry high risk. Please evaluate carefully and assume full responsibility for your own decisions.
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