Meteora rewards explained: LP fees, Season 2, MET staking and referrals

1. Trading fees

Every swap pays a trading fee, and the LPs whose liquidity was used share most of it: 90% in a standard DLMM pool, 80% in DAMM v2.^[1] You don't need to register for anything; fees build up in your position until you claim them. See Meteora fees explained.

2. Extra tokens in some pools

Some pools pay reward tokens on top of fees. A DLMM pool in liquidity-mining mode shares its rewards among active liquidity, and a DAMM v2 pool can pay up to two reward tokens.^[5][6] The pool page shows whether a pool has a farm.

3. The LP Stimulus seasons

Meteora set aside 15% of all MET, the LP Stimulus Plan, for liquidity providers.^[7] It was paid in two seasons of points.

Season 1's dates come from its terms; its claim has closed.^[8][9] For Season 2, points came only from fees earned in eligible DLMM and DAMM v2 pools: 1,000 points for every dollar of fees in a standard pool and 200 in a launch pool. Limit orders, DAMM v1 pools and pools of blacklisted tokens such as LIBRA and MELANIA earned none, and wallets needed at least 100,000 points and 10 MET to qualify.^[2]

Claiming happens on meteora.ag/campaigns; the MET is limited and first come, first served. How to claim Season 2 rewards shows the steps.^[10]

4. Staking MET

Since July 2026, Meteora's Referral Staking Program pays MET stakers a share of 10% of DLMM protocol fees, in USDC, in monthly cycles. The minimum stake is 200 MET; a normal unstake takes 7 days and gives up the cycle's pending rewards, or you can leave at once for a 10% penalty.^[4] Its third cycle ends on 21 October 2026.^[11]

5. Referrals

A staker with at least 200 MET can create a referral code. The referrer earns 8% of the protocol fees their referred users' DLMM positions generate, and each referred user shares 2%. Earnings are capped at 0.10 USDC per MET the referrer stakes, per cycle, and only DLMM pools quoted in SOL or USDC count.^[4] A wallet can link only one code, ever, so choose carefully.^[4]

6. LP Army bounties

Meteora's LP community, the LP Army, runs bounties and short campaigns, listed on the Campaigns page. In June 2026, for example, one paid $25,000 in USDC for liquidity in a tokenized SpaceX pool.^[3][12]