In the recent project incubation process, reconstructing a strong community consensus system has become a significant challenge in our practical execution, especially for high-quality user segments in the DeFi space. After all, the higher the user quality and purchasing power, the more difficult it is to mobilize their enthusiasm compared to less engaged users.

We observed an excellent operational model, @MeteoraAG, which has built a strong @met_lparmy through an outstanding consensus-building system. We chose to analyze their consensus operation system, hoping to provide some inspiration for others while referencing it internally for the incubation team.

Some Background on Meteora

Meteora was formerly known as Mercurial Finance, a stablecoin automated market maker (AMM) protocol in the Solana ecosystem, which had a peak total locked value (TVL) exceeding $200 million. However, the collapse of FTX in 2022 led to a liquidity and trust crisis for its token MER. Faced with survival challenges, the team decisively transformed and launched Meteora, focusing on the Dynamic Liquidity Market Maker (DLMM) mechanism and proposing the core concept of a "community consensus network."

Key measures in the transformation included:

• Technical Upgrade: The DLMM mechanism optimizes capital efficiency, supports dynamic price range settings, and significantly enhances the earning potential for liquidity providers.

• Community Reconstruction: Through the LP Army Bootcamp and MET token incentives, users are transformed from passive participants into active co-builders.

• Ecosystem Integration: Collaborating with projects like Jupiter, Orca, and Candle to expand trading volume and user base.

• Global Layout: Reaching the global LP community through multilingual support and regional teams.

By early 2024, Meteora propelled its TVL from $40 million to $160 million through a points system and community activities, ranking among the top in daily trading volume within the Solana ecosystem. The current total TVL has even grown to $800 million.

Meteora has demonstrated through action that an excellent consensus-building system can also drive growth in DeFi during this bull market.

LP Army: An Education-Driven Consensus Engine

Meteora's LP Army Bootcamp is the core pillar of its community operations.

This is a free two-day educational workshop held monthly, aimed at transforming novices into qualified liquidity providers through hands-on training on-chain. As of 2025, the bootcamp has held 16 sessions, training over 15,000 certified LP graduates, covering both beginners and advanced users. The courses are hosted by experienced LPs (such as HeavyMetalCook, GeekLad, OttoCatalytic) and cover topics like DLMM operations, liquidity strategies, impermanent loss management, and fee optimization, supporting both live and recorded formats to ensure global user participation.

Where Do Seed Users Come From?

Meteora primarily targets liquidity providers and meme coin issuers on Solana. The platform's tools are particularly attractive to yield users seeking "capital efficiency" and projects looking for fair launch infrastructure. Some articles have noted: "Meteora is seeking to collaborate with liquidity providers committed to supporting the platform and Solana in the short and long term." In fact, this has attracted early LP enthusiasts (such as meme coin traders) and startup platform communities (like Moonshot and Jupiter).

The initial seed users were active LPs and early Solana traders. The explosive growth during the launch of the $TRUMP meme coin in 2025 indicated that the meme community was a key driving force. Between February and March 2024, Meteora's TVL surged from about $40 million to $160 million, which the team attributed to the LP Army: "Without you, we couldn't have done it!" This indicates that thousands of enthusiastic LPs have formed the early community foundation. Early content creators (such as Crypto Twitter influencers and LP strategy educators 0xSoju and HeavyMetalCook) also contributed to knowledge dissemination. After officially launching the LP Army and bootcamp, these enthusiasts were further transformed into steadfast supporters.

Bootcamp Process

The Bootcamp employs a strict hands-on and assessment mechanism to ensure participants truly master LP skills:

• Day One: Participants deposit liquidity of no less than $100 in non-stablecoin trading pairs, holding positions for at least 1 hour to earn the "Boot Camp Trainee" Discord role.

• Day Two: Participants validate positive returns through an exam, submit position screenshots for manual review, and those who qualify receive an NFT graduation certificate and are promoted to the "LP Army Private" role.

Requirements include:

• Continuous participation in the course for no less than 1 hour.

• Providing liquidity of no less than $100, choosing non-stablecoin trading pairs.

• Achieving positive returns by the end of the course.

Completers not only receive an NFT certificate and community identity but also unlock advanced training courses, exclusive Discord channels, and access to community tools (such as profit trackers and Dune Analytics dashboards). This "learning + hands-on + certification" model effectively filters out users willing to contribute long-term to the protocol.

Building Effective Role Advancement

Meteora's LP Army is not a loose community but an organized network linked to role advancement and contributions. Its identity system is divided into four levels, ensuring a closed loop for community members from participation to empowerment to profit:

Various core roles have emerged in community operations, including training instructors (like GeekLad, Otto, etc.), community educators (such as Narko, Tuuxx, and other content creators), and regional ambassadors/captains (proposed LP Army Regional Squad Leads). Bootcamp graduates can obtain exclusive identities like "LP Army Private," with the potential to upgrade to senior LP Army members in the future. The official also supports the "Meteora Rising Incubator," attracting experienced professionals and sub-DAOs (like GooseDAO, DED LP Army) to participate in ecosystem building.

Incentive Mechanism: A Trinity of Products, Governance, and Honor

Meteora's incentive system operates through three parallel tracks: economic returns, governance participation, and honor incentives, deeply binding user behavior with protocol interests and deriving governance functions through the LP Army.

Incentives: Fee Sharing and MET Points

Locked Liquidity Fee Sharing

Through the Moonshot launch platform, Meteora achieves permanent locking of initial liquidity, with all trading fees distributed to liquidity providers (LPs), initial deployers, partners, and the DAO. General trades are allocated 33%/33%/33%, while referral trades are allocated 25%/25%/25%/25%. The M3M3 mechanism further innovates by allowing project parties to design "sprint staking" rewards, where the top N stakers proportionally share SOL and token earnings, with earnings divided into withdrawable SOL rewards and automatically reinvested token rewards, encouraging long-term locking. For example, the fee distribution proposal for the memecoin pool ensures that no fees are destroyed, attracting collaborations from protocols like PumpFun to use Meteora.

MET Points System

Users earn points by providing liquidity and inviting friends. Points can be redeemed for future MET token airdrops or privileges, with a community-built "MET Leaderboard" displaying rankings in real-time to stimulate competition. After the launch of the points system in early 2024, TVL surged from $40 million to $160 million, with trading volume ranking among the top in Solana, proving its incentive effectiveness.

• Points Earning Rules: $1 TVL/day = 1 point, $1 fee/day = 1000 points.

• Points Platform: Community-built tools (like the MET Leaderboard) are used to track and visualize points rankings.

• Points Usage: Points are expected to be redeemed in MET token distribution or incentive programs (details set by the DAO).

Governance Incentives: MET Tokens and DAO Empowerment

The MET token is the governance core of Meteora, with a total supply of 100 million, of which 80% is controlled by the DAO, and 20% is allocated to early MER holders and contributors (including 2% reserved for core contributors, vesting linearly over 6 years). The DAO empowers community decision-making through a ve-MET locking voting mechanism, covering key parameters such as fee curves, lending protocol integration, and token distribution plans. Governance proposals are publicly discussed in the official forum, with plans to introduce on-chain voting to ensure participation from small and medium holders.

The team and foundation hold 20% of the tokens through a multi-signature wallet, setting a 6-year linear vesting period to align with the project's long-term goals. Community proposals also include plans to incentivize content creators and global moderators, reflecting a commitment to decentralized governance.

Honor Incentives: NFTs and Community Recognition

• NFTs and Badges: Bootcamp graduates receive NFT certificates, and those completing Galxe tasks can earn exclusive OATs (On-Chain Achievement Tokens). The LP Army establishes an "LP Hall of Fame" to honor annual contributors, such as Crypto Twitter influencers 0xSoju and HeavyMetalCook.

• Role Advancement: Identity upgrades from Trainee to Core Contributor grant users more permissions (such as exclusive channel access and proposal priority) and honors, enhancing their sense of belonging.

This multi-layered incentive system directly links user behavior (providing liquidity, content creation, community management) with rewards (points, tokens, honors), avoiding the "wool party" phenomenon and ensuring that rewards flow to long-term contributors.

Using External Tools to Support Strategy Implementation

To better implement the entire system, the LP Army also leverages the following tools:

• Galxe Community Tasks: The official LP Army task page is published on Galxe, encouraging users to participate in community building and receive rewards. Through Galxe Quest, users can complete tasks such as staking and sharing to earn NFTs, points, and Discord privileges, guiding new users to use Meteora at a low cost.

• Data and Analytics Tools: Community members have developed numerous Dune Analytics dashboards to track key metrics such as DLMM earnings, TVL, and user growth. For example, the "Fees/TVL Dashboard" provided by Geeklad and the PnL leaderboard by kagren0 can help LPs optimize their strategies.

• Community Collaboration Tools: In addition to Discord, the Meteora team hosts AMAs and Bootcamp live streams on channels like Twitter/X and YouTube, and uses platforms like GitBook/Notion to maintain documentation and tutorials. Based on community proposals, Telegram community groups and Twitter Spaces have also been established to disseminate event information.

Global Strategy: Building a Cross-Cultural Consensus Network

From the outset, Meteora has positioned itself as a global community consensus network, reaching a wide user base through multilingual support and localized operations.

• Multilingual Bootcamp: Supporting languages such as Chinese, Spanish, Turkish, and Malay, the first Chinese training camp was successfully held in June 2025, with the Chinese community account @MeteoraCN responsible for content publishing, attracting coverage from Chinese crypto media (such as Binance TechFlow).

• Regional Squads: Plans are in place for 2025 to establish regional teams in the Asia-Pacific, Europe, Latin America, Africa, India, and North America, with each squad having independent Discord roles, activities, and local leaders, incentivizing participation through leaderboard competition. For example, MeteoraMY in Malaysia has formed an active local community.

• Global Collaboration: Collaborating with Solana ecosystem projects like Jupiter (liquidity aggregator), Orca (AI arbitrage bot development), Sanctum, and Sharky to co-host events and expand the user base. Weekly community calls publicly share development progress and governance resolutions, enhancing transparency.

From the perspective of global marketing strategies, Meteora's path is essentially the same as the commonly used path by Go2Mars:

• Differentiate regions from the base user level, targeting specific regional development.

• Select ambassadors and initial administrators from each region, with ambassadors responsible for spreading influence and penetration in their regions, while mods focus on community retention.

• Utilize a role growth system to filter and educate core users and content creators.

Operational Closed Loop: Screening → Cultivation → Solidification Growth Engine

The operational logic of Meteora's LP Army can be summarized in three layers of synergy:

1. Screening Real Participants: The Bootcamp uses on-chain tasks (liquidity of no less than $100, positive returns) and manual reviews to filter out speculators and attract genuine LPs. The Galxe task platform (such as "Solana Safari") further screens active users through social tasks (following, tweeting, providing liquidity).

2. Cultivating Community Consensus: Discord sub-channels, identity advancement, and localized management foster user stickiness. Community tools (such as Dune dashboards, profit trackers, IL calculators) help LPs optimize strategies, while weekly strategy sharing sessions and community live streams enhance interaction.

3. Solidifying Long-Term Contributions: MET points, M3M3 staking, and DAO governance bind user behavior to token earnings, ensuring community members become long-term stakeholders in the protocol. For example, the M3M3 mechanism mitigates memecoin selling pressure through "sprint staking," encouraging long-term holding.

This closed loop integrates education, incentives, and governance, creating a behavior-driven consensus network that avoids the short-term user loss associated with "airdrop and leave."

Learning from Others

After dissecting Meteora's consensus strategy, Go2Mars is also attempting to implement this strategy system. If you are also a practitioner, here are some points to consider:

1. Ensure Product Professionalism: Meteora's ability to build the LP Army stems from the fact that their product is attractive enough to professional players. It's crucial to have self-awareness; if your product is average or merely a shell application, it's better to focus on attracting less engaged users.

2. Seed Users Determine Implementation Path: If your community is initially a professional crypto player community, you can directly replicate the above path. If your community is filled with less engaged users, you need to filter out this active but low-quality traffic first, while also using some external promotions, or you will face significant obstacles.

3. Community Activity is a Prerequisite for Path Execution: You must first activate community engagement before executing the path. You can choose to mobilize your core builders for support or invest externally… In any case, there must be activity; otherwise, no matter how well the events are set up, it will be in vain without user participation.

4. Bind Community Incentives Strongly to the Product: You must find ways to strongly bind community incentives to product interaction; otherwise, you will only reap a facade of prosperity. Additionally, the incentive system must be clearly established; if users do not recognize it, pushing it will be very challenging.

We hope our research is helpful to you.

免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。