Meteora, a liquidity provider based on the Solana blockchain, is airdropping Web3 users for participation in the platform. After the collapse of FTX, Meteora (previously Mercurial) is upgrading the network to find new users.
This guide will go through the complete process of claiming MET, Meteora’s native token. Also, we will cover the listing date, withdrawal process, eligibility criteria, and the benefits of the airdrop.
Let’s begin.
What is Meteora?
Meteora is a Web3 DeFi platform that provides yield & liquidity services. It is built on the Solana blockchain. With Meteora’s yield farming, investors can lock, stake, borrow, or lend their assets. Also, users can engage with liquidity pools where they can provide liquidity to balance significant changes in the price.
Meteora was launched initially as Mercurial with the native token MER. Later it rebranded to Meteora and migrated to a new token called MET. The rebranding and migration were because of the collapse of the FTX exchange, which had a high impact on MER.
After the loss of a significant amount of users, now the platform is in a revival mode, seeking yield farmers and liquidity providers. They have organized an airdrop for this marketing process with huge rewards.
How Does the Meteora Airdrop Work?
Meteora invites users to participate in its liquidity and yield services. The platform has huge rewards. They expect crypto users with long-term experience, but anyone can participate in the airdrop. To ease the process, Meteora has a Dynamic Liquidity Market Maker tool that shows data in real time.
Primarily, you have to participate in Meteora’s pools. The pools include DLMM Pools, Dynamic AMM Pools, Dynamic Vaults, Multitoken Stable Pools, and Non-Pegged Stable Pools. This will cost you some amount of money.
Eligibility Criteria For the Airdrop
Is This Airdrop Free?
The airdrop is not free. You should have assets in your wallet for staking, locking, and lending. Also, you have to pay the gas fee for each transaction. Apart from that, there are no additional hidden charges.
Step-by-Step Guide to Claim the Airdrop
- Visit Airdrop Page: Visit Meteora Exchange and navigate to the airdrop page. If an airdrop page is not there, there isn’t any ongoing airdrop. However, you can earn from the usual yield and liquidity-related activities.
- Connect Wallet: Click Join Now and connect your wallet. You can use MetaMask or WalletConnect extension for PC, or a Kiwi browser if you are in a smartphone.
- Switch to Solana: After connecting the wallet, accept the signature request and the permission to change the chain to Solana.
- Check Eligibility: Click Check Eligibility, and the system will check your assets immediately. If you are eligible, proceed.
- Complete Tasks: Engage with DLMM Pools, Dynamic AMM Pools, Dynamic Vaults, Multitoken Stable Pools, and Non-Pegged Stable Pools. All the instructions are available with each task.
- Invite Friends: Invite your Web3 friends to the Meteora platform for additional rewards.
How to Withdraw Your Earnings?
The Meteora platform is in a migration phase. The MER token is transforming to MET. You can claim the tokens only after the end of the whole process. There is a huge probability that MET will be listed on major exchanges in August or September. You can then send your tokens to the exchanges for withdrawal.
Airdrop Launch Date & End Date
The airdrop is live. The conclusive date of the campaign has yet to be out. And, to withdraw your earnings you have to wait till the listing of MET in major exchanges. You have to wait.
Final Thoughts: Is This a Trustable Airdrop?
Meteora lost its popularity after the collapse of the FTX exchange. Now the platform is in a resurrection mode and users expect a strong comeback.
If Meteora becomes popular again, the market cap will surge and your MET tokens will increase in price. So, better participate in the airdrop.
Nevertheless, it is important to do a thorough analysis before engaging with airdrops like this. Go through Meteora’s whitepaper, blogs, and docs to get a clear picture of the exchange. DYOR!
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