Meteora, a leading platform for dynamic liquidity pools on the Solana blockchain, just dropped their first "State of Meteora" report for October 2025. If you're into DeFi or keeping tabs on meme token liquidity, this recap is packed with insights. Think of it as a monthly health check for one of Solana's key players in market making and liquidity provision.

The report kicks off by highlighting October as a blockbuster month. Meteora hosted its Liquidity Generation Event (LGE) on October 23, marking the start of a new era for the platform. This event, along with strong performance across their pools, led to the highest fee earnings since May 2025. For those new to the term, an LGE is essentially a community-driven fundraising and liquidity bootstrapping mechanism where users contribute assets to kickstart trading pools.

Key Overall Metrics

Here's a quick snapshot of the big numbers:

• Total Volumes Through Meteora Pools: $12.4B (up 12.2% MoM)
• Total Fees Generated on Meteora: $136.8M (up 66.3% MoM)
• Total Revenues Accruing to Meteora: $10.3M (up 377% MoM)

These figures show robust growth, even in a volatile crypto market. The surge in fees and revenues underscores how Meteora's tech is capturing more trading activity, especially for volatile assets like meme tokens that thrive on Solana's speed and low costs.

Spotlight on the MET Liquidity Generation Event

The LGE was a standout, contributing significantly to the month's totals:

• Volumes from All Meteora Pools Since LGE: $452.8M (3.7% of total monthly volumes)
• Fees Generated from All Meteora Pools Since LGE: $4.8M (3.5% of total monthly fees)

Even excluding the LGE, volumes were up 8% and fees jumped 60% month-over-month. This event not only boosted metrics but also strengthened the $MET token's liquidity, which is crucial for meme token launches and trading pairs.

Breaking Down AMM Pools and Launchpads

Meteora's Automated Market Maker (AMM) pools, particularly their Dynamic Liquidity Market Maker (DLMM) variant, drove much of the growth. DLMM pools allow for more efficient liquidity provision by adjusting concentrations based on market conditions—think of it as smart liquidity that adapts to price swings, perfect for meme tokens' wild rides.

• Total Fees Generated from AMM Pools: $126.2M (up 76.5% MoM)
  • Meteora's Revenues: $8.3M (up 52.2% MoM)
  • Fees Distributed to Users: $117.9M

On average year-to-date, 75% of AMM fees came from DLMM pools, but in October, that hit 88%. This shift highlights how DLMM is becoming the go-to for liquidity providers.

Launchpads, which help new tokens (often memes) get off the ground with fair launches, held steady:

• Total Fees Generated from Launchpads: $10.6M (down 1.3% MoM)
  • Meteora's Revenues: $2.0M (down 1.3% MoM)
  • Fees Distributed to Partners and Launchpad Users: $8.6M

Overall, Meteora distributed a whopping $120M in fees back to users and partners in October. That's what they call "gud fee tek"—efficient fee distribution that keeps the ecosystem humming.

The report wraps up by noting all data comes from Blockworks' public Meteora dashboard (check it out here). They're open to feedback for future recaps, so if you're a liquidity provider or meme token enthusiast, chime in.

This "State of Meteora" series is a game-changer for transparency in DeFi. It not only shows Meteora's dominance in Solana liquidity but also how it's fueling the meme token boom. Stay tuned for November's update—could be even bigger as the bull market heats up.