Meteora AG flipped the switch on its LP Stimulus Season 2 claims on July 21, opening a three-month window for eligible liquidity providers to grab their $MET token allocations. The claim portal will stay live until October 21 at 10:00 AM UTC, and participants who snag their tokens can immediately stake them for additional yield.

Season 2 isn’t just a copy-paste of Season 1 with a fresh coat of paint. The entire rewards logic has been rebuilt around one metric that actually matters: trading fees.

From parking capital to earning it

Season 1 rewarded liquidity providers based on Total Value Locked. Season 2 throws that approach out entirely.

Instead, the program now awards 1,000 points for every $1 in trading fees generated through Meteora’s DLMM (Dynamic Liquidity Market Maker) and DAMM V2 pools. You don’t get rewarded for how much money you park. You get rewarded for how hard that money works.

The numbers behind the distribution

The LP Stimulus program allocates 15% of the total $MET supply across both Season 1 and Season 2 participants. It was originally introduced at a 10% allocation before being expanded.

The Season 1 snapshot was locked on June 30, 2025, meaning any activity after that date falls into Season 2’s territory. Season 2 specifically covers liquidity provision activity from July 1, 2025, onwards, creating a clean handoff between the two periods with no overlap or gaps.

Why DAMM V2 matters

Meteora’s transition toward DAMM V2 pools is the infrastructure story underneath the token distribution headline. The protocol, which evolved from Mercurial Finance to enhance community ownership and build more advanced liquidity primitives, has been systematically phasing out earlier pool versions.

By tying Season 2 rewards directly to fees generated in these pools, Meteora is essentially subsidizing the learning curve for providers who adopt its newest technology.

What this means for investors

The fee-based rewards model distributes tokens to users who demonstrably contribute to platform revenue. The immediate staking mechanism also reduces potential sell pressure at the moment of claim, with recipients able to lock tokens up while participating in protocol governance.

Eligible liquidity providers have until October 21 to make their claims. For those who’ve been actively providing liquidity on Meteora’s newer pool types since July 2025, the math on whether to claim and stake is straightforward.