A few details you need to know about M3M3

Author: NingNing Source: X, @0xNing0x

What is $M3M3?

Meteora borrowed the Ve (3, 3) mechanism of DEX to invent a (3, 3) mechanism for launching Meme coins: MEME (3, 3)

That is, the top 1,000 Stakers of MeMe can obtain the handling fee income captured by the MeMe LP.

Meteora developed a Meme coin launch platform based on the MEME (3, 3) mechanism: M3M3

Inspired by MEME (3, 3), the Meteora community used the M3M3 platform to launch the platform's first Meme coin, $M3M3

So, $M3M3 has no direct relationship with Meteora in theory, but those who understand it know that the market will compare $M3M3 to Jupiter's $WEN and HyperLiquid's $PURR

Why did Meteora launch $M3M3?

Observing the latest status of the DEX track of the Solana ecosystem, Meteora's market position is as follows:

--Trading volume market share accounts for 7.4%, ranking fourth after Raydium, Lifinity, and Orca

--Liquidity market share accounts for 9.2%, ranking third after Raydium and Orca

--Daily new token launch share ranks third, ranking after http://Pump.fun and Raydium

From the above, it can be found that Meteora has certain advantages in liquidity and daily new token launch, but has shortcomings in trading volume.

The launch of the M3M3 launch platform can not only consolidate Meteora's product advantages in LP and new tokens, but also stimulate the growth of platform trading volume. It is an excellent strategy to kill two birds with one stone.

How should we view $M3M3?

First, the attribute of $M3M3 is MeMe coin, not the platform coin of M3M3.

Second, it is obvious that $M3M3 is an atypical MeMe coin. Its valuation method is not based on the attention economy and market sentiment flow as the main dimensions, but mainly considers its APR and potential airdrop return rate.

Combined with my recent on-chain MeMe coin PVP experience, I am not particularly optimistic about the new MeMe coin launch paradigm of M3M3.

Because what really makes MeMe coin full of charm is the addictive mechanism of instant feedback (quick doubling or drilling), high volatility (intraday volatility range is often -90%, +10000%) + uncertain return rate.

This is a kind of Dionysian carnival, and calculating APR and potential airdrop returns is too rational, belonging to the Japanese culture, and is incompatible with the MeMe coin market environment.

Summary: Treat $M3M3 as a tool for making money, and don't treat it as a serious MeMe coin.