MET Staking at a Glance
| What | Details |
|---|---|
| Minimum stake | 200 MET |
| Paid in | USDC |
| Where | Meteora’s Referral page (app.meteora.ag/ref/RAZZAER opens it with my code) |
| Cycle length | One month, from the 21st at 10:00 UTC |
| Current cycle | Cycle 3, ends 21 October 2026, 10:00 UTC |
| Total staked | About 105M MET across 3,630 stakers (6 October 2026) |
| Meteora’s APR estimate | About 20% from staking alone, about 30% including referral rewards (Cycle 3, 6 October 2026); moves with volume and MET price |
| Unstaking | Forfeits that cycle’s rewards; 7-day wait, or 10% penalty to unstake instantly |
| Next cycle | Not announced yet |
Figures from Meteora’s app and referral stats, checked 6 October 2026.
How Meteora MET Staking Works
Meteora MET staking pays stakers 10% of DLMM protocol fees in USDC each monthly cycle, split by how much MET you stake and for how long. Here’s where that money comes from. Every time someone trades through a DLMM pool, they pay a fee. Most of it goes to the LPs in that pool. Meteora keeps a protocol cut, and part of that cut now goes back to MET stakers (Meteora’s launch post):
- 10% of DLMM protocol fees is shared between everyone staking MET, weighted by how much you stake and for how long in the cycle
- 8% goes to referrers, based on the fees their referred users generate
- 2% goes back to referred users, based on their own LP positions
Only DLMM pools with SOL or USDC as the quote token count. Limit orders, blacklisted pools and DAMM v2 pools don’t.
What I like about this is where the money comes from. It’s USDC from actual trading volume, not new MET printed to pay you. When Meteora is busy, stakers get more. When it’s quiet, they get less.
If DLMM itself is new to you, start with our Meteora DLMM beginners guide.
How to Stake MET on Meteora (Step by Step)
Step 1: Get at Least 200 MET
You can claim it (see the LP Stimulus section below) or buy it. The easiest way to buy is a swap on Jupiter; our guide to swapping on Solana walks through it. You’ll need a Solana wallet first: how to create a Solana wallet.
Step 2: Open the Referral Page With a Code
Meteora makes you link a referral code before you can create your own, and the link is permanent: one code per wallet, and it can’t be changed later. If you want to use mine, open app.meteora.ag/ref/RAZZAER and the code fills itself in. You can also type a code on your Referral Dashboard and hit Confirm.
Using a code costs you nothing. It actually earns you a little: 2% of the protocol fees from your own eligible LP positions.
Step 3: Stake Your MET
On the Referral page, connect your wallet, enter at least 200 MET and stake. Your share of the cycle builds the longer it’s staked, so staking early in a cycle beats staking late.
Step 4: Create Your Own Code (Optional)
Once you’re staking 200 MET or more, you can generate your own referral code and share it. More on how that pays below.
Step 5: Claim Your USDC After the Cycle
Rewards become claimable some time after a cycle closes, so don’t expect them straight away. Cycle 1 ended on 21 August and opened for claims on 10 September; Cycle 2 ended on 21 September and opened on 23 September. Claims for Cycles 1 and 2 stay open until 31 March 2027 (Meteora).
Meteora Season 2 Airdrop (LP Stimulus): Claim Before 21 October
If you LPed on Meteora between July 2025 and June 2026, check this before anything else. LP Stimulus Season 2 shared 20M MET (about 2% of supply) between LPs, based on the fees they earned on DLMM and DAMM v2 pools with SOL, USDC, USDT, JupUSD or USD1 as the quote token. You needed at least 100,000 points and 10 MET to qualify (Meteora governance).
To check and claim:
- Go to meteora.ag/campaigns and connect the wallet you LPed with
- The checker shows your allocation; accept the disclaimer, then hit Claim
- After claiming, the app offers to take you to the Referral page to stake it
The deadline is 21 October 2026 at 10:00 UTC (airdrop terms). After that, unclaimed MET can no longer be claimed and Meteora decides what happens to it. Claiming and staking are two separate steps, so claim first, then decide whether to stake.
Meteora Referral Code: How Referrals Pay
Meteora referral code: you can use mine, RAZZAER (app.meteora.ag/ref/RAZZAER). Linking any code is free and earns you back 2% of the protocol fees from your own eligible LP positions. If you’ve got your own code, this is how it actually pays, and there’s a catch. If people use your code:
- You earn 8% of the protocol fees from their eligible LP positions
- They earn 2% back on their own positions
- Your referral earnings are capped at 0.1 USDC per MET you stake per cycle, so 200 MET caps you at 20 USDC a cycle and 1,000 MET at 100 USDC
- Each person you refer is capped at 25% of your cap
- A referred user has to generate at least $1 of eligible fees in a cycle for either of you to earn from them
- If you unstake any MET, the people you referred lose their pending 2% for that cycle (their own staking rewards are unaffected), and if you drop below 200 MET they stop earning it
So a code with loads of users and only 200 MET staked tops out at 20 USDC a cycle. If you’re referring people, the stake matters more than the code. The staking share itself has no cap.
The same cap matters when you’re picking a code to use. Your 2% is capped at 25% of your referrer’s cap, so the stake behind the code decides how much you can earn:
| Referrer stakes | Referrer’s cap per cycle | Your cap per cycle (2% side) |
|---|---|---|
| 200 MET | 20 USDC | 5 USDC |
| 1,000 MET | 100 USDC | 25 USDC |
| 40,000 MET (my code, RAZZAER) | 4,000 USDC | 1,000 USDC |
That’s why I stake 40,000 MET behind RAZZAER: people on my code can earn up to 1,000 USDC a cycle from their own LPing, instead of hitting a 5 USDC ceiling on a small code. I’m also going to be sharing free LP tools, and they’ll go out on X and YouTube first.
For what it’s worth, my code RAZZAER is around #69 on Meteora’s referral leaderboard, with 94 referred users and about $137K in fees from them (leaderboard, 6 October 2026).
What MET Staking Has Paid So Far
| Cycle | Dates | Paid out |
|---|---|---|
| Cycle 1 | 21 Jul to 21 Aug 2026 | $262K USDC to 3,977 wallets |
| Cycle 2 | 21 Aug to 21 Sep 2026 | About $703K USDC |
| Cycle 3 | 21 Sep to 21 Oct 2026 | Running; Meteora estimates about $983K |
Cycle 1 from Meteora; Cycle 2 and the Cycle 3 estimate from Meteora’s referral data, checked 6 October 2026.
Payouts have grown every cycle, mostly because DLMM volume has grown. That’s also the risk: in a quiet month, the pot shrinks.
Risks and Catches
- No Cycle 4 yet. Referral Staking launched as a three-month pilot, with a review “before determining the next phase”. Cycle 3 is the third month. If you stake now, you’re earning roughly the last two weeks of Cycle 3 for sure, and anything after that depends on Meteora’s decision.
- Unstaking mid-cycle costs you the cycle. You forfeit all pending rewards for that cycle, and they go to everyone else.
- Getting out takes time or money. After unstaking there’s a 7-day wait to withdraw. Unstaking instantly costs 10% of the MET. At about 20% APR from staking, that’s roughly six months of rewards gone, so I’d only pay it if I really needed out.
- You’re holding MET. The USDC is real, but if the MET price drops more than you earn, you’re down overall.
- Rewards follow volume. The APR is an estimate from a busy period, not a promise.
The one I’d actually worry about is the first. There are about two weeks of Cycle 3 left and nothing announced after it, so you could be stepping into a pilot that just ends.
Is MET Staking Worth It?
If you already LP on Meteora, I think it’s worth it. The USDC comes from the same volume you’re already farming, and linking a code gets you back 2% of the protocol fees from your own positions on top.
If you’d be buying MET just to stake it, it’s a closer call. You’re taking on the MET price to earn USDC from a program that hasn’t committed past 21 October. I’d wait for Meteora to announce what comes next before putting serious size in.
Either way, if you LPed in the past year, claim your LP Stimulus MET before 21 October. That part is free.
I post my LP results, wins and losses, on X at @RazzaeR, and break down my Meteora strategies on YouTube at Yield Hustler. If you’ve got questions about staking or LPing, come and ask in our DLMM Telegram chat: t.me/dlmmchat. If you want more on the LP side, start with how to find the best Meteora pools and how to avoid impermanent loss on Meteora.
FAQ
What is the minimum to stake MET?
200 MET. That’s the minimum both to earn staking rewards and to create your own referral code.
What do you earn from staking MET?
USDC. Stakers share 10% of Meteora’s DLMM protocol fees each monthly cycle, weighted by how much MET they stake and for how long. Meteora’s Cycle 3 estimate on 6 October 2026 was about 20% APR from staking alone, or about 30% including referral rewards, and it changes with volume and the MET price.
When does Meteora MET staking Cycle 3 end?
21 October 2026 at 10:00 UTC. Meteora hasn’t announced a Cycle 4 yet.
Can I unstake MET any time?
Yes, but unstaking mid-cycle forfeits that cycle’s rewards. Then you either wait 7 days to withdraw or pay 10% of the MET to withdraw instantly.
How do Meteora referral codes work?
You link one code to your wallet (permanently), then once you stake 200 MET you can create your own. Referrers earn 8% of the protocol fees from their referred users’ positions, capped at 0.1 USDC per MET staked, and referred users earn 2% back on their own.
What Meteora referral code should I use?
You can use mine, RAZZAER: open app.meteora.ag/ref/RAZZAER and it fills in. Linking a code is free, earns you back 2% of the protocol fees from your own eligible LP positions, and is permanent, so pick one with a big stake behind it. Your 2% is capped at 25% of your referrer’s cap: I stake 40,000 MET, so people on RAZZAER can earn up to 1,000 USDC a cycle, against 5 USDC on a code backed by 200 MET.
When is the Meteora Season 2 airdrop deadline?
LP Stimulus Season 2 claims close on 21 October 2026 at 10:00 UTC. Check and claim at meteora.ag/campaigns.
Is MET staking the same as the old Meteora airdrop?
No. The original MET airdrop is covered in our Meteora airdrop guide. Staking is ongoing and pays USDC from fees each cycle.
