Meteora

Meteora builds liquidity pools on Solana and the tools token teams use to launch into them. Its docs describe it as a composable liquidity layer for liquidity providers, launchpads and token launches, and it runs only on Solana. Its swap guide uses Jupiter Terminal from Jupiter, and aggregators can route trades into Meteora pools, so a trader may use them without visiting Meteora at all.

Two legal entities appear in Meteora's documents. The terms of service are with Meteora Nova Limited, under British Virgin Islands law with arbitration in Road Town. The EU crypto-asset white paper for the MET token names Meteora Comet Limited, a BVI Business Company registered on 29 April 2025, as offeror. It gives Meteora Foundation as the parent, a Cayman Islands-based sole director, Sean John Inggs, and says the company is funded by a $10 million working-capital loan. The white paper was notified on 14 October 2025 and sought admission of MET to trading on Kraken. A notification under MiCA is not an approval or a licence.

Meteora's own pages read for this profile do not name founders or executives, and the white paper's project history gives only that the protocol was conceived in 2023 and that the Meteora Foundation was set up in 2024.

Meteora offers several pool designs, and a liquidity provider picks the one that suits the pair:

• DLMM (Dynamic Liquidity Market Maker): liquidity sits in discrete price bins. Trades inside one bin execute at that bin's fixed price; when a bin empties, the price moves to the next. LPs choose the bin range and shape, can deposit one token only, and pools can add a dynamic fee that rises with volatility. Some DLMM pools also support on-chain limit orders.
• DAMM v2: configurable constant-product pools with optional concentrated or compounding liquidity, positions held as NFTs, and fee schedules that can fall over time or with market cap, used heavily for launches.
• DAMM v1: the older pool design, now listed as legacy, with stable pools and pools for liquid staking tokens.
• Dynamic Bonding Curve (DBC): a launch curve that sells a new token along a set price path and then graduates the liquidity into a DAMM v2 pool.
• Helper programs: Alpha Vault and Presale Vault for pre-launch sales, Dynamic Fee Sharing, Zap and the older Dynamic Vaults and Stake2Earn.

The homepage lists live pools with each one's fee, bin step, liquidity, volume and holder data, along with token age, top-10 holder share and developer balance. For how Meteora compares with other decentralized exchanges, see our ratings; Orca is another large Solana pool venue.

Each pool sets its own trading fee, which the swapper pays on the input amount; the protocol then takes a share of that fee, not of the trade itself. Pool fees vary widely. On 25 October 2026 the pools on Meteora's homepage ranged from 0.01% on a TTWO-USDC pair to 4% on a two-week-old pool. The protocol's cut is published per product:

Where a swap carries a referral or host account, 20% of the protocol's side is paid to it; this does not raise the fee the trader pays. On top of pool fees, users pay Solana network fees and, when the market is busy, priority fees set in the transaction settings. DefiLlama puts Meteora's protocol revenue at about $4.7 million over the 30 days to 24 October 2026.

MET is Meteora's SPL token on Solana, with a fixed supply of 1 billion. It launched at a token generation event on 23 October 2025 with 480 million (48%) in circulation; the white paper, written before launch, planned 47%. The team (18%) and the Meteora Reserve (34%) vest over 72 months after a one-month cliff, from 23 November 2025 to 23 October 2031. The rest went at launch to LP stimulus (15%), Mercurial holders (15%), a Mercurial reserve (5%), launchpads, Jupiter stakers, off-chain contributors and other community plans. The team burned 2,261,990 MET on 25 October 2025.

The white paper describes MET as a coordination and access token with no claim on profits or dividends. Meteora publishes monthly and half-yearly token-holder reports on ir.meteora.ag, with wallet addresses for the team, reserve and buyback allocations.

Using the pools needs only a Solana wallet such as Phantom, Solflare or Backpack and a little SOL for fees; there is no account or KYC. The terms, however, exclude users in the British Virgin Islands, the United States, China, Myanmar, Côte d'Ivoire, Cuba, Crimea and Sevastopol, the Democratic Republic of Congo, Iran, Iraq, Libya, Mali, Nicaragua, North Korea, Somalia, Sudan, Syria, Yemen, Zimbabwe and Russia, and anywhere under US or EU sanctions.

Meteora publishes its audit reports on GitHub. DLMM has been audited by Offside Labs (from January 2024 and through several versions), OtterSec, Sec3, Zenith and Sherlock; DAMM v2 by Zenith and Offside Labs across many versions; the bonding curve by Offside Labs, OtterSec and Zenith. A bug bounty is run through OOO Security. Audits lower the chance of a contract flaw but do not remove it, and the docs read for this profile do not say who holds upgrade authority over the Solana programs.

The larger risks for most users are economic. DLMM positions earn fees only while the price is inside the chosen bins, and once the price moves out of that range the position holds only one of the two tokens. Many pools hold newly launched tokens, which is why the homepage shows each token's top-10 holder share and developer balance. Meteora's "Staying Safe" guide points users to token risk warnings, Rugcheck and Jupiter's JupShield and organic-trading checks before buying or adding liquidity. A protocol-level exploit of Meteora's pools was not found in the sources checked.

To start, a user connects a Solana wallet at meteora.ag, picks a pool and either swaps or adds liquidity; the docs have a getting-started guide covering SOL requirements, transaction settings and custom RPC endpoints. Liquidity can be withdrawn at any time unless the provider chose to lock it. DAMM v2 positions can be vesting-locked or permanently locked, which is common for launch liquidity, so buyers should check the lock figure shown for each pool. Legacy positions are managed on a separate page.

Support and announcements run through Discord and the MeteoraAG account on X, with a separate LP Army community for liquidity-provider education. Contract addresses, including the MET mint, are published only in the docs and official channels; claim and airdrop links from anywhere else should be treated as phishing.