Meteora is a Solana liquidity protocol best known for DLMM, pools that split liquidity into discrete price bins and raise fees automatically when the market gets volatile. It is a favorite venue for memecoin liquidity providers and token launches. As of October 29, 2026, DefiLlama shows Meteora DLMM at about $3.8 billion in 30-day volume and about $156 million in total value locked, and its MET token trades at about $0.30 according to CoinGecko.
Key Facts
- Origin: Meteora grew out of Mercurial Finance, which was rebuilt as Meteora after the FTX collapse (Blockworks, KuCoin News).
- Main product: DLMM, concentrated liquidity in discrete price bins with volatility-aware fees (Meteora docs).
- DLMM volume: about $3.77 billion over 30 days to October 29, 2026, with about $25.1 million in fees, roughly 0.67% of volume (DefiLlama).
- DLMM TVL: about $156 million (DefiLlama).
- Token: MET launched on October 23, 2025 with no presale, distributed by airdrop to Mercurial stakeholders, Meteora liquidity providers, JUP stakers and launchpad partners (Blockworks, KuCoin News).
- MET market data: about $0.30, market cap about $167 million, 564 million of 1 billion tokens circulating, all-time high $0.69 on launch day (CoinGecko, October 29, 2026).
How DLMM Works
DLMM stands for Dynamic Liquidity Market Maker. Instead of one smooth curve, liquidity sits in bins, each covering a single small price step. Inside an active bin, swaps execute at a fixed price with zero slippage. When a bin runs out of one token, the price moves to the next bin.
As a liquidity provider, you choose which bins to fill and in what shape: spread evenly, concentrated around the current price, or weighted to one side. A one-sided position above the price works like a native limit order: your tokens sell automatically as the price climbs through your bins.
The second feature is dynamic fees. Each pool has a base fee, and a variable fee is added when price moves fast across many bins. During a memecoin pump, LPs earn much more per trade, and traders pay more. That explains why DLMM’s average fee of about 0.67% is several times higher than Orca’s 0.10% (DefiLlama). For how the Whirlpool model compares, see what Orca is.
Meteora’s Other Pools
| Product | What it does | DefiLlama data (October 29, 2026) |
|---|---|---|
| DLMM | Bin-based concentrated liquidity, dynamic fees | ~$3.77B 30-day volume, ~$156M TVL |
| DAMM v2 | Constant-product pools with position NFTs and an anti-sniper suite | ~$254M 30-day volume, ~$21M TVL |
| Dynamic Bonding Curve | Customizable launch curves that graduate into a DAMM pool | ~$429M 30-day volume |
| DAMM v1 (legacy) | Full-range pools that also earn lending yield | ~$42M TVL |
| Alpha Vault, Presale Vault | Early-access and presale tools for launches | n/a |
The launch tools matter for memecoin traders. Projects use Alpha Vault to let supporters buy before public trading and the Dynamic Bonding Curve to run a Pump.fun-style launch on their own terms. Several launchpads plug into these programs, and routers like Jupiter send swaps through Meteora pools, so you may trade one without ever visiting Meteora’s site. Product details are in the Meteora docs.
The MET Token
MET is Meteora’s token, launched at its token generation event on October 23, 2025. There was no presale. About 48% of supply was planned to circulate at launch, and 10% was set aside for liquidity pools starting at $0.50 (KuCoin News). MET hit its all-time high of about $0.69 on launch day and traded near $0.30 on October 29, 2026, with a fully diluted value of about $296 million (CoinGecko).
The gap between the $167 million market cap and $296 million FDV means about 44% of the supply is not yet circulating. Future unlocks add sell pressure, so check the schedule before treating MET as a long-term hold. Live data is on CoinGecko.
Limits and Risks
- Active LP management. DLMM positions earn only while the price sits in your bins. Out of range, you hold 100% of one token and earn nothing.
- Impermanent loss. Concentrated bins magnify it, and memecoins move far enough to empty a position in hours.
- Launch risk. Meteora’s tools power permissionless launches. A pool on Meteora is not an endorsement.
- Reputation history. Co-founder Ben Chow resigned in February 2025 after the LIBRA memecoin scandal; he denied that he or Meteora received tokens or insider knowledge, and the team said it hired a law firm to investigate (The Block).
- Smart contract risk. Audits reduce the risk of a bug but never remove it.
Meteora Liquidity and a Token Like $DOLAN
Where a token’s liquidity sits shapes how it trades. DOLAN Duck ($DOLAN), a fair-launch SPL token with a fixed 98.3M supply and roughly 10,700 holders, keeps its main pool as a SOL pair on Raydium, with only a tiny Meteora pool, according to DEXScreener on October 29, 2026. A constant-product pool covers every price, so it never goes out of range, while a DLMM pool earns more per dollar but needs constant attention. That trade-off decides whether moving a token’s liquidity to Meteora makes sense, and the basics are in liquidity on Solana DEXs. Contract: 4YK1njyeCkBuXG6phNtidJWKCbBhB659iwGkUJx98P5Z.
Meteora is a Solana DEX and liquidity protocol known for DLMM pools, which use price bins and dynamic fees. It also offers launch tools like the Dynamic Bonding Curve and Alpha Vault.
DLMM is a Dynamic Liquidity Market Maker. Liquidity sits in discrete price bins with zero slippage inside each bin, and fees rise automatically when volatility increases.
Yes. MET launched on October 23, 2025 without a presale. It traded near $0.30 with a market cap of about $167 million on October 29, 2026, per CoinGecko.
DefiLlama shows Meteora DLMM at about $3.77 billion in 30-day volume and about $156 million in TVL as of October 29, 2026.
Meteora grew out of Mercurial Finance, which was rebuilt as Meteora after the FTX collapse. Mercurial stakeholders were included in the MET airdrop.
Yes. DLMM positions stop earning when price leaves your bins, concentrated ranges magnify impermanent loss, and memecoin pools can lose most of their value fast.