#What strategic moves has Meteora taken with its MET tokens?
Meteora has made a significant investment in its future by spending $10 million USDC to repurchase MET tokens. This action has allowed the protocol to accumulate 2.3% of the total supply since its launch. By conducting these buybacks, Meteora aims to enhance revenue, manage costs more effectively, and ultimately increase the value for tokenholders.
The Solana-based decentralized finance protocol firmly plans to proceed with additional discretionary buybacks from the same wallet address. The organization is committed to focusing on growth in revenue, optimizing costs, and maintaining transparent reporting to its community.
#How are Comet Points changing the utility of the MET token?
In an effort to improve the practical use of the MET token, Meteora has recently introduced a new feature called Comet Points. This innovative system rewards users who engage with the platform by staking MET tokens. Participants can earn these points through their platform interactions.
Comet Points can be redeemed for various benefits, including access to exclusive airdrops, presale opportunities, an off-chain rewards store, and LP coaching services. The Meteora team emphasizes that the system will evolve based on community feedback, creating more utility and engagement opportunities for all involved in the Meteora ecosystem.