TL;DR
Finally! A shift in the shitcoin space has arrived with the new Meteora M3M3 protocol, changing the memecoin rules. This week’s report will take a closer look at this newly launched staking mechanism. Covering the ins and outs of M3M3 and discussing the potential for technology like this to create a new norm for every meme-coiner. Going deeper into Meteora’s M3M3 mechanism I’ll also be sure to break down who’s using the new platform and the benefits it provides to those communities. Giving everyone reading this valuable insight into the future success or potential failure of M3M3 on Meteora.
In case you’re not a Degenerate like the rest of us. The Memecoin space is a vicious cycle of infinite tokens and minimal effort. With less than 0.1% reaching insane market dominance. This occurs mostly out of sheer luck. A dev dumping their tokens, while those still speculating gobble them up. In most situations, this is a short-lived moment that only slightly moves the pump and dump timeline up a bit. But in those rare instances, we witness a miracle of perfectly timed events that stop these dumps from occurring. Creating a new paradigm of money and a handful of early gamblers crazy rich. The problem is that the odds of grabbing one of these lottery tickets are astronomical. Because within this player vs player environment, there are far more losers than will ever be winners. This is the dynamic Meteora is looking to change with the launch of M3M3.
What is M3M3?
M3M3 is a new way of operating and launching memecoins that is designed around building long-term benefits for their communities. At the core of M3M3 is its launchpad and staking system we’ll dig into a little later. But first, let’s discuss the ethos that Meteora is trying to build with their M3M3 project. Starting with access. As an open-source protocol, there are no limitations to who can use the M3M3 platform. Allowing launchpads, creators, and holders to configure their preferred reward schedules and incentives.
As pointed out in Meteora’s introduction to M3M3, Memecoins are nothing more than a race to dump. Whoever can get in and out the first is the winner. As of November 2024, taking all the memecoins launched on Solana, only 0.05% reached a Market Cap of more than $1 million. With only 0.016% going past the $20 million Market Cap and 1.26% of memecoin on PumpFun graduating past the initial bonding curve. Memecoin investors have less than a 1% chance that a memecoin who already graduated from PumpFun will reach a $20 million Market Cap. By offering locked liquidity and fee rewards to stakers, M3M3 is looking to tip the odds of success in our favor.
How Does M3M3 Work?
M3M3 works as a launch and staking platform for new and existing projects. Allowing them to look up tokens in a reward pool where they’re slowly dispersed among to top holders of the project. This can range from the top 50 stakers up to the top 999. The amount of wallets staking and earning rewards is completely dependent on the parameters launched with the pool. Creators can even configure when fee rewards become claimable after the TGE, setting a countdown period during which total fee rewards are accumulated and distributed later.
Operating like a traditional liquidity pool, the ones who set up these reward pools on M3M3 must supply the SOL and…
Head of Research Jesse is a passionate seeker of truth who enjoys educating others about Bitcoin. As a free thinker and 2nd amendment advocate, Jesse believes each individual has the right to monetary freedom. “The swarm is headed towards us” -Satoshi Nakamoto
