Meteora Boosts Rewards, Cracks Down on Wash Traders

Meteora, a decentralized finance (DeFi) platform, has announced its commitment to enhancing its existing reward system and conducting reviews of bad actors and wash traders. The platform, which has faced challenges in recent weeks, is determined to strengthen its resilience and empower users, developers, and liquidity providers (LPs).

At the core of Meteora's strategy is the enhancement of the synergy between the platform and LPs. To achieve this, additional communication and feedback channels will be established to support more community-driven initiatives. This move ensures that the community has a significant voice in shaping Meteora's future.

Building on the existing LP incentive proposal, Meteora will further improve the current scoring system to fairly reward all LPs. The platform has outlined specific measures to address abusive activities and wash traders attempting to exploit the system. These measures include:

• Conducting a comprehensive review to blacklist those engaging in abusive activities and wash traders.
• Initiating discussions with LPs to gather feedback and viewpoints.
• Collaborating with third-party analytics firms to better analyze and validate on-chain data used for the scoring system.

Meteora's commitment to enhancing its reward system and addressing malicious activities demonstrates its dedication to creating a more secure and fair environment for its users and LPs. By empowering the community and improving the scoring system, Meteora aims to strengthen its position in the DeFi landscape and foster growth.