What is the Meteora LP Army?
Meteora wants to build the best LP community in Crypto. The LP Army is the name of the decentralized community trying to help Meteora achieve that goal. We are a global collection of liquidity providers focused on changing the crypto token narrative away from pump-and-dump and toward sustainable market making for the long-tail of digital assets. Eventually this community will be a cornerstone of the DAO that takes over governing Meteora.
What problems does the Meteora LP Army Solve?
Simply put, the LP Army helps Meteora grow. Currently, it does so with the following initiatives:
- Product strategy and testing
- Bootcamps - Education and Training
- Promotion and Collaboration
The Meteora weekly community calls led by Ben Chow are legendary in the Solana ecosystem, and most of the LP Army regularly attend. Many of the top Meteora product ideas are generated during these discussions. Anyone is welcome to contribute, and the events regularly turn into deep discussions about strategy, current events in crypto, as well as product specific deep-dives and presentations.
Community-led Bootcamps are the primary method of education and training to date. We now have over 2,500 Bootcamp graduates, who are granted the Discord role of LP Army Private when they satisfy curriculum requirements. The main emphasis of Bootcamps is to profitably market make using the dynamic liquidity market-making (DLMM) product at Meteora. Finding DLMM success requires significant skill and a deep understanding of Solana markets. Bootcamp sessions and recordings have been viewed tens of thousands of times.
Recently our Bootcamp Lead, HeavyMetalCook along with Collaboration Lead Mario and a few others, put together the first Advanced Bootcamp, and we hope to continue building more educational offerings.
Promotions and Collaborations are intended to increase Meteora’s visibility and reach within Solana and other blockchain networks. These efforts have focused on two experimental directions: Cross-promotional events around the DLMM product with social media influencers and streamers, and Earning with DLMM.
Earning with DLMM started with Ben launching “LP Ben’s Money” events and were designed to have panelists recommend crypto pairs for Ben to market-make. Since these early days it has become a weekly event run by Yousef and LP Jam Lead, Ordinary_Bob, where participants watch these two DLMM experts analyze markets and earn significant fees. Seed funding for the LP Jam’s was provided by Meteora, and panelists/contributors are allowed to keep the earnings with a cut for the LP Army Treasury.
LP Army lead, Mario runs many promotional events and collaborations for Meteora, working with outside projects and KOL’s to grow the Meteora brand and help spread the “fee meta”, so crypto users and curious investors understand there is more opportunity than simply YOLO’ing memecoins.
Please note that Meteora is constantly innovating, which means this list will change and grow over time.
What can we expect from lparmySOL?
This fall, just under $200M in average weekly volume traded on Meteora. The more retail-driven DLMM volume typically uses SOL as the base asset for market making, and the LP Army would like to hold some portion of that in an LST so we don’t lose out to inflation when we’re not actively market making.
The average Meteora enjoyer may also park SOL in this LST if they know it helps Meteora or the LP Army, as a way to painlessly give back to the community. There may also be promotional opportunities for Meteora to drive lparmySOL volume.
In addition, the LP Army has starting building a treasury by accumulating fees through events described above. Someday, potential lparmySOL endowments from Meteora platform fees may also be possible. While some portion of these balances must be in stables, there will also be a significant amount held in LST’s.
Finally, the validator to which our LST will be delegated is run by an LP Army moderator and former Bootcamp instructor, Otto, who wants to help Meteora liquidity providers get first class staking and avoid losing out to inflation by parking idle liquidity in lparmySOL. Staking is an exciting area of innovation on Solana and worth tracking for future enhancements like SIMD-0123, which may lead to more utility.
Grand Vision for lparmySOL
The vision for lparmySOL goes hand-in-hand with the vision for Meteora, currently captured by the initiatives described above. A combined Meteora and LP Army branded LST will help with these efforts, and communicate shared intention and full commitment. Two other comments about our vision follow.
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Key innovations of the Internet are networks and long-tail markets. We expect digital assets to follow a similar path, which would place Meteora and Sanctum in an important position. Millions of important digital assets with localized network value and associated markets will exist in this future, and they will all need market-makers and a branded base-asset. These digital assets will be generated and seamlessly traded on global liquidity networks like Solana, through platforms like Sanctum, Jupiter and Meteora DLMM.
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While Meteora currently shares infrastructure with Jupiter, in the distant future there may be a reason to separate system access and hardware. This would require having an independent SWQoS channels for transaction prioritization. Laying the groundwork for that contingency today may eventually become quite important. The branding may have to be altered, but we wouldn’t have to start from scratch.
The Meteora LP Army would love to use Sanctum’s awesome LST technology to build this token. Having less pressure to provide liquidity will allow us to grow organically with less capital, and the Sanctum Infinite Pools are perfectly suited to this task.
