M3M3
meme-three-three
Last updated
meme-three-three
Last updated
Meteora is introducing to the mememcoin universe M3M3 — a.k.a meme (3,3) — a new stake-to-earn mechanism where top memecoin stakers compete to earn fee rewards from permanently-locked liquidity, and ██████ is excited to be apart of the program!
As a highly-configurable mechanism that can be used by launchpads, creators, and holders, we believe M3M3 has the potential to greatly incentivize both staking and trading, and in turn bring more sustainable revenue and dynamics to ██████. M3M3 is currently in beta.
Currently, it is very. According to (as of 29 November 2024), out of the memecoins on Solana, only ~700 (0.05%) have surpassed $1M Market Cap and ~200 (0.016%) have surpassed $20M Market Cap.
Moreover, only by reaching a market cap of ~$69,000.
This is not surprising, given that memecoins are often a race to dump, especially in the early days, where every holder has a constant fear of being dumped on by others. Initial holders are afraid of creators selling allocation, while new holders are wary of initial holders, snipers, and insiders who bought in at a highly advantageous price. As such, many don’t see any value in holding for long and attempt to profit at the earliest opportunity after launch, causing a bleak trading chart and undermining potential growth.
This PvP (Player vs. Player) environment ends up creating a toxic cycle that discourages holding and presents a serious risk to the long-term future of memecoins.
By offering fee rewards to stakers, M3M3 aims to be a sustainable mechanism that gives holders a reason to hold, so more memecoins last longer and reach a higher market cap.
Whether as a memecoin holder right from launch or a new holder just entering the game, M3M3 offers ██████ a unique opportunity to earn fee rewards through staking. Here’s how it works:
Top ██████ Stakers Earn Fee Rewards If you are going to hold the memecoin anyway, you can stake it to earn fee rewards. Only top memecoin stakers (e.g. Top 1,000 ██████ stakers) are eligible to earn fee rewards from the associated liquidity pools. In addition, the higher your stake, the larger your share of the fee rewards generated by the permanently-locked liquidity. This competitive element incentivizes users to secure a ranked position and buy & stake more to increase and maximize their fee rewards. Note that the actual memecoin has to be staked and not an LP token, so there’s no risk of IL (impermanent loss).
Dynamic Competition for Fee Rewards If a staker falls out of the rankings (e.g. out of Top 1,000), they immediately stop earning fee rewards. This mechanic ensures that participants stay committed to staking in order to retain their fee rewards. As more participants seek to rank in the leaderboard, competition grows, driving a higher demand for the memecoin.
Real-Time Earning — Stake More, Earn More! M3M3 x ██████ staking operates in real-time. As you stake more ██████, you instantly earn more ██████ fee rewards per block that you can manually claim later, providing an engaging experience for ██████ stakers who want to see returns on their ██████.
Claim SOL Rewards, Restake Memecoin Rewards for Compounding Top ██████ stakers earn fee rewards in a combination of SOL and ██████. SOL can be manually claimed right away, but the ██████ portion of the claimed fee gets added to your stake, compounding earnings while mitigating sell pressure. This dual reward structure — claiming SOL right away combined with restaking ██████ fee rewards makes it convenient for ██████ stakers to get rewarded without adding sell pressure to their ██████ holdings.
Cooldown Period for Unstaking Staked ██████ must go through a cooldown period where the stakers must wait before they can withdraw their ██████. Any ██████ undergoing this cooldown period do not count towards your staked ██████ and potential fee rewards. If users change their mind, they may cancel anytime and their ██████ will immediately restake and count towards earning fee rewards if they are a top staker. M3M3 is (3,3)
M3M3 is inspired by the (3,3) model where if all holders stake then everyone wins. If everyone sells then everyone loses which can happen often with memecoins. M3M3 introduces a mechanism to incentivize people to stake so everyone can win.
We hope this M3M3 flywheel transforms memecoins from a race to dump to a race to stake, increasingly driving more value to stakers to attract more staking for the benefit of all holders.
