Chieph

🧵 Diving deep into the “Heart Attack” DLMM Strategy: Extracting Max Fees on @MeteoraAG DLMM I used it a lot this month to earn 372.2% more than my avg! Here’s how it works, why it works, and exactly when to use it. (+ what the Metis Router is really doing behind the scenes)

Guys... this is absolutely crazy looking back $7000+ in fees in a short period of time... LPing conditions used to be soo fun and the R/R was so amazing. You can still be profitable in today's market, but please watch this video and see just how crazy you used to be able to print I believe we return to these days, it is just a matter of patience and survival Keep learning and LPing, but be safe. Easy mode will return eventually Goated video 🐐 @_mythicalpotato Only possible on @MeteoraAG

@met_lparmy 😒

He just set his DLMM Limit Order. OK now make the price pump then stop at the exact bin just before his range's min bin.

I must have spent 1000s of hours gleefully watching bins flash between blue and purple on the DLMM. Now I will watch static bins trigger a sudden burst of dopamine when they suddenly change color.

Don’t like the way it was rolled out. Seemed like no opportunity for discussion before implementation yet it’s announced in a “proposal” website giving mixed signals. Miss the old days of community discussions and open debate on calls. No offense to content team but a lot of community voices are getting paid by meteora team these days. Good for onboarding new ppl but bad for objective/critical discussions that are required for healthy community. No one wants to bite the hand that feeds. Referral scheme doesn’t seem appealing to me at first glance. Further proof being early in crypto really pays off. We had it very good at the start. Era of diminishing returns now. Most changes to DLMM make it easier for beginners and just diminish the edge for experienced users - but that’s life and that’s the game we play here.

Meteora just doubled the DLMM protocol fee, 5% to 10%, and the LP Army is split right down the middle. I LP here every day so here's the honest read, not the cheerleader version, not the doomer version. The part nobody arguing about this wants to acknowledge first : even after doubling, @MeteoraAG is still the cheapest major venue on Solana. 🔹Meteora DLMM new : 10% protocol, LP keeps 90% 🔹Orca : 12% + 1% climate, LP keeps 87% 🔹Raydium AMM v4 : 12%, LP keeps 88% 🔹Raydium CLMM : 16%, LP keeps 84% They doubled the take rate and you still keep more here than anywhere else. That has to be said before anyone throws around the word greedy. Am i happy keeping 90% instead of 95% ? No, nobody is. But i watched this team grind 6 straight months of polish, shipping DAMM v2, DBC, Dynamic Positions, Pool Discovery. At some point a protocol doing that much work has to capture more treasury to keep moving. I get it even if it stings. The one thing i actually want answered, the question that decides if this is net positive long term : how does the extra treasury feed back into the $MET buyback. That mechanic is the whole game. If someone from the team breaks it down clearly, a lot of holders are listening, me included. On the growth fund i have zero concerns. The $250K community fund is run by @Heavymetalcook6, @memecoinassasin and @AlekssRG, the backbone of the LP Army since day one. If anyone turns that into real LP growth it's them. And don't let the fee noise bury the product news. Quote Token Fees and Limit Orders are things we've been begging for forever. Single-sided SOL heart attack setups just got way cleaner, no more exit-bag of the token, fees land straight in SOL. That alone changes how i run a few setups starting now. Where i land : the bump stings short term, the upgrades are genuinely strong, and it all rides on whether the growth fund and the buyback deliver. Curious where the rest of the LP Army lands. Worth the bump for what we got, or not convinced yet ? Tell me how you read it. If you LP on Meteora, save this one. The fee math and the buyback question matter way more than the timeline noise everyone's arguing about today. gud fee tek 🖨️

Its definitely better that before but 2x im not sure. A lot of changes have been QOL by removing the need to be in lots of other tabs or apps. Power users were drawing ranges on charts, had their own or used 3rd party pool discovery pages etc - so these introductions were mostly nice additions but not significantly changing profitability. quote only & Limit O's are the first significant changes and too early to know if it makes a huge difference (I think it will) Difficult to decouple product performance with market performance & being an early user tbh.

@itschieph @MikusLP basically: is the product 2x better today compared to when you first used it / or in dec 2023

So far I’ve seen 2 concerns about the recent update 1. How does quote-only mode charge fees? We can compare this with DAMM V2 quote only mode Normally fees are charged in quote when buys happen and in base when sells happen. With quote only mode, instead of charging fee in base token beforehand, they are charged in quote token after the sell transaction. So the base tokens in DAMM quote-only are not sold causing constant sell pressure. Same could be applied to DLMM quote fees only. 2. Increase in protocol fees on DLMM from 5% to 10% Profitability has always been the main focus of retail LPing and increase in fees likely won’t affect your ability to make money with DLMM, just like during initial fee switch at the end of 2024. Thing is, protocols do need funds to continue growing: - Raydium charges 12% on AMM V4 - Orca charges 12% - Pumpswap charges 20% DLMM tech is used not because of low fees, but because it is an extremely versatile tool. That’s why even Meteora’s haters use DLMM Additional funds will go towards community initiatives and new developments, so in the end we will benefit from the fee switch

@0xmiir @MikusLP Never said you guys were falling short. just exercising critical thinking since fees have increased and it made me stop and think, is it still worth it?

it's a fair question @itschieph if we take into account the LP experience before vs. after shipping the full LP toolkit (pool discovery, ape-in/zap-out, rebalancing, dynamic terminal, portfolio, quote token fees), i'd argue the ability to be profitable on Meteora has become multiples better still a ton more to work on for sure. if we're falling short anywhere, i'm always a DM away

Before (5% protocol fee): For every 1 SOL earned in fees, you kept 0.95 SOL — paying 5.26% of potential earnings as a fee to Meteora. Now (10% protocol fee): For every 1 SOL earned in fees, you keep 0.90 SOL — paying 11.11% of potential earnings as a fee to Meteora. Not saying its not worth it fyi

@itschieph It’s a bit misleading to say twice as expensive though? The difference would be about 5% For a technology that does not charge additional costs

@0xSoju @MeteoraAG @solana Cool ty!

@itschieph @MeteoraAG @solana looks about right yes

Introducing a new era of fee generation on @solana. DLMM Quote Token Fees are now live on Meteora. Earn fees fully in SOL, USDC or any token you choose.

@0xSoju @MeteoraAG @solana Like this? The order of operations change?

@itschieph @MeteoraAG @solana every swap involves the base and quote token. Quote token fees just intelligently chooses to deduct it from quote everytime So buys base coins -> taken on input Sells base coins -> taken on output

@EvilPanda Each reply is making me more and more convinced the real Logical sold this X account😆

@itschieph The final form is the 100x perp degen no life

Sometimes Panda does stupid things, like open Long on Jup Perps with 50x leverage, fees paid is expensive, it will hurt more if the position is a loser. This time Panda got lucky, next time it will be liquidation. So only use perps when the timing is right and get out when the first signs of trouble happens.

@_mythicalpotato @MeteoraAG Our time is now

I love seeing how @MeteoraAG finally execute the quote only token in fees on DLMM. This, in a way, help any chart not to nuke like before

@meteo_sol Personally, I have found very few tools that give you a strong edge in crypto but the DLMM is certainly one. You only pay for it when you earn with it. There are loads of pay first for access things out there that are far worse.

The rich get richer and the poor get poorer

Quote fees and limit orders added to DLMM, but protocol fees doubled to 10% from 5%... will we see much difference to our PNLs as an LP? Could be less TVL per pool as LPs fragment into a mix of quote only and quote+base pools. Profitability will continue to be a matter of skill imo. A new era ahead.

@0xSoju @MeteoraAG Finally! Amazing addition.

We’re going mainstream, becoming the edge for retail. Limit Orders are now live on edge.meteora.ag. Create Limit Orders and earn a Bonus whenever they are filled. @MeteoraAG LOs are fully on-chain, built within DLMM, support price ranges, provide additional fees to YOU when they get filled, and are filled natively from @JupiterExchange, @Titan_Exchange, or any platform on Solana. We will recap everything we have shipped so far, and also lay out an ambitious growth plan for Meteora, the LP Army, and $MET.

@AlekssRG @met_lparmy @MeteoraAG @BagsApp 🎒🎒🎒

token selection is the most important part of LP one side $sol 🎒 $asteroid DLMM #gudfeetek

@venufitratama14 Love to see it!

too lazy to do some kind of edit & put on a bg music. just put on 4x speed. my heart attack play on $UFO did this several times on one ticker. again, GFT!