not surprised by negative $met price action (almost reaching the lower limit of TGE LP) with 48% supply as airdrop entering market right away, could have been avoided to some extent if team explicitly stated some portion of protocol fees going to holders beforehand rather than vaguely saying "meteora will revolve around met" but from team's tweets, it looks like $met will have some form of value accrual, so looks undervalued at $500m fdv for current metrics - 100m+ annualized protocol revenue, and 1b+ annualized fees going to LPs, and both team and product are one of the best across defi if 50% of protocol fees is directed towards $met stakers and 50% is staked (out of 50% circulating), it gives 40% real yield and 10% for 100% fdv staked there's also room for further growth of meteora metrics so took a long term position in $met here at $0.54 my long term defi holdings are now $aave $jup and $met, and hopefully $orca and $sky as well we are now entering a phase where defi protocols will be evaluated just like businesses, and we retail can frontrun institutions in the same way as we did with btc, eth and soon sol institutions will only bid quality assets, and dominant defi protocols across ethereum and solana will benefit from this