Independent community guide checked 29 Sep 2026
Meteora,
explained.
Meteora is a Solana app where people put tokens into shared pools so others can trade them, and earn a share of every trade's fee. It's used by liquidity providers, by projects launching new tokens and by developers. This guide explains how it works in plain words and shows every step, with each claim linked to its source.
Not affiliated with Meteora, and nothing here is financial advice. Providing liquidity can lose money: read the risks before you deposit.
An example DLMM poolIllustration
- Bin step
- 25 bps
- Next bin
- +0.25% price
- Fee
- base + variable
- Money in its pools
- $320M Total value locked, all Meteora pools and vaults
- Traded in 30 days
- $6.77B 30 Aug to 28 Sep 2026
- Fees paid by traders
- $30.2M Over those 30 days; most of it went to LPs
- Meteora's revenue
- $3.56M Its share of those fees
Read from DefiLlama: Meteora ↗ on 29 Sep 2026. Numbers move daily; no prices are shown on purpose.
Start here
Three ways in,
pick yours.
Meteora serves three kinds of people: liquidity providers who earn trading fees, projects that launch tokens, and developers who build on its programs. Each path below is a short reading order.
Earn fees as an LP
Put tokens in a pool so others can trade them, and earn a share of every trade.
- What is DLMM? Meteora's price bins and dynamic fees, explainedArticle · 8 min
- How to check a token and a pool on Meteora before you add liquidityTutorial · 6 min
- How to add liquidity to a Meteora DLMM pool, step by stepTutorial · 8 min
- How to claim fees, rebalance and close a DLMM position on MeteoraTutorial · 6 min
- Impermanent loss on Meteora, explained in plain wordsArticle · 7 min
Launch a token
Give a new token its first market, and slow down the bots that snipe launches.
Build on Meteora
Read pool data, use the SDKs, or let an AI coding agent work with Meteora safely.
New to crypto? Start with the basics (wallets, recovery phrases, scams) at learn.stonkbuilder.com ↗, then set up a wallet and get SOL with our Solana beginner's guide.
The products
11 products,
one liquidity layer.
Meteora's docs sort its programs into core products, helpers and legacy products. Core and helper programs are actively developed; legacy ones still run but get no new features.
- For LPs
DLMM
Concentrated liquidity in price bins, with dynamic fees and on-chain limit orders.
- For LPs
DAMM v2
A constant-product pool with position NFTs, lockable liquidity and an anti-sniper fee suite.
- For launches
Dynamic Bonding Curve
Configurable bonding curves for launchpads that graduate into a DAMM pool at a set threshold.
- For launches
Alpha Vault
Lets supporters deposit early so the vault buys before public trading opens.
- Beta
Presale Vault
Token presales with allowlists, tiers and vesting, in any SPL token.
- For LPs
Zap
Enter or leave a DLMM or DAMM v2 position with a single token, in one transaction.
- For launches
Dynamic Fee Sharing
Splits a pool's fees between several wallets by fixed shares.
- For builders
Meteora Invent
Config-driven commands and an open-source launchpad template for building on Meteora.
- Legacy
DAMM v1
The original full-range dynamic AMM; idle liquidity also earns lending yield.
- Legacy
Dynamic Vault
Single-token vaults that lend idle funds; Jupiter Lend is the one active strategy today.
- Legacy
Stake2Earn
Top stakers of a token share the fees of its locked DAMM v1 liquidity.
How DLMM works
Liquidity in bins,
fees that move.
DLMM, Meteora's Dynamic Liquidity Market Maker, splits a market into price bins. LPs choose which bins to fund and in what shape; traders swap against the active bin at a fixed price; fees rise when the market turns volatile. What is DLMM? explains it step by step.
Token Y (quote), waiting to buy Token X (base), waiting to sell Active bin: both
- BinsEach bin is one price. Inside the active bin, a swap trades at that price with no price impact.
- Bin stepThe gap between neighbouring bins, in basis points: 25 bps means each bin is 0.25% above the last.
- The ladderWhen a swap uses up the active bin's liquidity, the next bin becomes active and the price moves.
- FeesEvery swap pays a base fee; a variable fee rises when swaps cross many bins quickly and decays after.
Which pool?
DLMM, DAMM v2
or DAMM v1.
The three pool types side by side, from Meteora's docs. The full comparison is in DLMM vs DAMM v2 vs DAMM v1.
| DLMM | DAMM v2 | DAMM v1 (legacy) | |
|---|---|---|---|
| Where liquidity sits | In price bins you choose | On a classic curve, usually across every price | Across every price |
| Goes out of range? | Yes, and then it earns nothing | Only if the pool was made with a fixed range | No |
| Trading fee | Base fee plus a volatility fee, up to 10% | Base fee, optional dynamic fee, launch schedulers | Fixed, usually 0.25% |
| LPs' share of fees | 90% (80% in launch pools) | 80% | 80% (100% in stable pools) |
| What you hold | A position record, no token | A position NFT you can transfer | LP tokens |
| Lock liquidity | Not permanently | Forever or on a schedule, still earning | Yes, still earning |
| Extra yield | Reward tokens in some pools | Up to two reward tokens | Lending yield on SOL, USDC, USDT |
| Best for | Hands-on LPs and launches | Hands-off LPs and launches | Positions you already hold |
What it costs
Fees and deposits,
in plain words.
Every cost of using Meteora, from Solana's network fee to the deposits you get back. Meteora fees explained has the details and sources.
| What | About | In plain words |
|---|---|---|
| Solana network fee | 0.000005 SOL per signature | Plus an optional priority fee; DLMM uses a Jito tip |
| DLMM position rent | ≈ 0.059 SOL | Refunded when you close the position |
| A new DLMM bin array | ≈ 0.075 SOL | Not refunded; only when nobody used those bins before |
| A new token in your wallet | ≈ 0.002 SOL | Refunded if you close the token account |
| Pool trading fee | Set by each pool | Paid by traders; LPs get 80–90%, Meteora the rest |
| Deposit or withdrawal fee | None listed | Meteora earns from trading fees, not deposits |
| Token transfer tax | Depends on the token | Some Token-2022 tokens charge one on every move |
Before you LP
7 checks,
a minute each.
Each links to the article or tutorial that answers it properly.
- 1Is it the real token?Search by contract address; names and logos can be copied.
- 2Any warnings?Look for Meteora's risk message, RugCheck, JupShield and the Organic Score.
- 3Which pool type?DLMM earns more but needs watching; DAMM v2 can be left alone.
- 4What's the fee?Read the pool's base fee and bin step; new-token pools can charge far more.
- 5How wide a range?A narrow range earns more but goes out of range sooner.
- 6Enough SOL?A DLMM position needs about 0.059 SOL of rent, refunded when you close it.
- 7What if the price moves?Out of range, you hold one token and earn nothing.
Articles
11 articles,
every claim cited.
Plain-language explainers on how Meteora's pools, fees, launches and token work, each with numbered sources you can check.
- What is Meteora? Solana's liquidity pools, explained simplyWhat Meteora does, who uses it, and how it got here.
- What is DLMM? Meteora's price bins and dynamic fees, explainedPrice bins, bin steps and fees that rise with volatility.
- Spot, Curve or Bid-Ask? Meteora DLMM strategies explainedThree liquidity shapes, and when each one earns.
- DLMM vs DAMM v2 vs DAMM v1: which Meteora pool fits you?Three pool types, one table, and which to pick.
- Meteora fees explained: what you pay, and who earns itNetwork fees, rent, trading fees, and who gets them.
- Impermanent loss on Meteora, explained in plain wordsWhy LPs can end up behind, and what fees must beat.
- How token launches work on Meteora: bonding curves, launch pools and vaultsBonding curves, launch pools and the tools that slow down bots.
- What is MET? Meteora's token: supply, unlocks, buybacks and stakingSupply, unlocks, buybacks and staking, checked on-chain.
- Meteora rewards explained: LP fees, Season 2, MET staking and referralsFees, Season 2, staking and referrals, with dates.
- Is Meteora safe? Audits, risks and history, checkedCode, tokens and people: what's checked and what isn't.
- Building on Meteora: SDKs, APIs, Invent and tools for AI agentsProgram addresses, SDKs, APIs and AI tools in one map.
Tutorials
9 tutorials,
step by step.
From a first DLMM position to claiming rewards or reading the API: what you need, what it costs, each step, and how to check it worked.
- How to check a token and a pool on Meteora before you add liquidityTen minutes of checks before you deposit anything.
- How to add liquidity to a Meteora DLMM pool, step by stepYour first DLMM position, one click at a time.
- How to claim fees, rebalance and close a DLMM position on MeteoraClaim, re-centre, withdraw, close.
- How to add liquidity to a Meteora DAMM v2 pool, and lock itDeposit, claim and lock in Meteora's easy pool.
- How to create a DLMM or DAMM v2 pool on MeteoraStandard or launch, DLMM or DAMM v2: the create forms.
- How to swap tokens on MeteoraTwo ways to swap, and what to check first.
- How to claim Meteora LP Stimulus Season 2 rewards before 21 October 2026Who qualifies, where to claim, and what disqualifies a wallet.
- How to stake MET on Meteora, and how unstaking worksUSDC rewards, monthly cycles, and the exit rules.
- How to read Meteora pool data with its free APITwo commands, and every pool's numbers.
The MET token
One mint,
checked on-chain.
MET is the Meteora protocol's token. Its supply is fixed: the mint authority is off, so no more can be created. Stakers earn a share of DLMM protocol fees; MET carries no ownership or voting rights. What is MET? has the details and sources.
MET, Meteora's token
Solana SPL token · 6 decimals · launched 23 Oct 2025- Supply, 29 Sep 2026
- 997,732,429 MET
- Created at launch
- 1,000,000,000 MET
- Mint authority
- Off: no more can be made
- Freeze authority
- None
- Holders
- 44,538 (Jupiter)
- Staked
- 102.5M MET, 3,458 wallets
- Buyback wallet
- 30.94M MET
- Rights
- No ownership, vote or profit share
Stake MET for a share of 10% of DLMM protocol fees, paid in USDC: How to stake MET. Figures from Meteora's docs, its investor-relations site, Jupiter and the chain, read on 29 Sep 2026.
Where the supply goes
From Meteora's tokenomics page. 48% was unlocked at launch; the team's and the reserve's shares unlock monthly until October 2031.
Timeline
From Mercurial
to MET.
The milestones, each linked to where it was announced or recorded.
Mercurial Finance says it will relaunch as Meteora after FTX's collapse.
DLMM enters beta.
LP reward points begin. JUP launches, on a Meteora DLMM pool according to Meteora.
Meteora forum: 10% LP Stimulus Plan (19 Jan 2024) ↗ Meteora forum: distribute 3% of MET to Jupiter stakers (24 Sep 2025) ↗
Alpha Vault launches to protect launches from sniper bots.
LIBRA collapses after launching in a Meteora pool; co-founder Ben Chow resigns.
Decrypt: co-founder resigns amid LIBRA allegations (18 Feb 2025) ↗ Meow on X: Ben Chow resigns (18 Feb 2025) ↗
Zhen takes over as Meteora's lead.
DAMM v2 launches.
MET launches, with 1 billion tokens.
Meteora raises its DLMM protocol fee from 5% to 10% of trading fees and adds limit orders.
Meteora forum: Investing in Meteora's next phase of growth (14 May 2026) ↗
LP Stimulus Season 2 ends, and with it the points system.
MET staking begins and the Season 2 claim opens.
Meteora app: Dynamic Referral Staking (MET staking) ↗ Meteora LP Stimulus Season 2 airdrop terms (updated 20 Jul 2026) ↗
Season 2 claims close at 10:00 UTC, and staking cycle 3 ends.
Meteora app: Campaigns ↗ Meteora referral staking stats, read 29 Sep 2026 ↗
Risks
What can go wrong
for an LP.
Providing liquidity earns fees because it takes risk. These are the ones worth understanding first; Is Meteora safe? goes deeper.
- 01
Impermanent loss
When prices move, your share of a pool shifts toward the token that fell. You can end up with less than if you had just held.
- 02
Going out of range
A DLMM position stops earning when the price leaves its bins, and then holds only one token.
- 03
Scam tokens
Anyone can create a pool for any token. Copied names, hidden mint or freeze powers and rug pulls are common.
- 04
Launch fees
New-token pools can start with very high fees that fall over time; buying in the first minutes can cost a lot.
- 05
Smart contracts
Audits lower the risk but don't remove it, and DLMM's code is not public.
- 06
Fake sites and support
Only meteora.ag is real, and Meteora's team never messages you first.
- 07
Rules that change
Fees, rewards and programs change often, so older guides go out of date.
- 08
Legal questions
A lawsuit over the 2025 LIBRA launch names Meteora and a former leader. It is unresolved and nothing in it has been proven.
FAQ
Questions,
answered plainly.
Where Meteora's products or rules can change, meteora.ag and docs.meteora.ag are the source of truth.
Read Meteora's docs ↗What is Meteora?
Meteora is a Solana protocol that runs liquidity pools: shared pots of tokens that traders swap against. People who add tokens to a pool earn a share of the trading fees. It also runs tools that projects use to launch new tokens.
Is Meteora a DEX?
It runs the pools a DEX needs, and you can swap on meteora.ag through the Jupiter Terminal or a pool's Swap tab. Many trades reach Meteora's pools through aggregators such as Jupiter.
What is DLMM in simple terms?
A pool that splits prices into small steps called bins. You choose which bins your tokens sit in. Trades inside a bin happen at one fixed price, and fees rise when the market gets jumpy.
How do liquidity providers make money on Meteora?
They receive most of each trading fee their liquidity earns: 90% in a standard DLMM pool and 80% in DAMM v2. Some pools also pay extra reward tokens.
Can I lose money providing liquidity?
Yes. Price moves can leave you worse off than holding (impermanent loss), a DLMM position stops earning when it goes out of range, and a scam token can go to zero.
What does opening a position cost?
A DLMM position needs about 0.059 SOL of rent, returned when you close it, plus about 0.075 SOL that isn't returned if your range needs new bin arrays. Solana's network fee is 0.000005 SOL per signature.
What is the MET token's contract address?
METvsvVRapdj9cFLzq4Tr43xK4tAjQfwX76z3n6mWQL. Tokens with the same name exist, so compare every character.
How do I claim Meteora Season 2 rewards?
Eligible liquidity providers claim MET on meteora.ag/campaigns until 21 October 2026 at 10:00 UTC. The MET is limited and first come, first served.
Can I stake MET?
Yes. Meteora's Referral Staking Program pays stakers a share of 10% of DLMM protocol fees in USDC. The minimum is 200 MET, and unstaking takes 7 days, or costs 10% to leave at once.
Is Meteora safe?
Its programs are audited and we found no exploit in the sources we checked, but tokens in its pools can be scams, DLMM's code is closed, and a lawsuit over the 2025 LIBRA launch is unresolved.
Is this guide run by Meteora?
No. It's an independent community guide by StonkBuilder, not affiliated with or endorsed by Meteora. meteora.ag and docs.meteora.ag are the source of truth.