Behind Solana Celebrity Tokens: The Feast of Project Party and the Rat Store
Mar 05, 2025 am 06:45 AMThe rise and manipulation of Solana chain celebrity tokens: a carefully designed wealth harvest
Recently, a batch of tokens named after celebrities have emerged on the Solana chain, such as $TRUMP, $MELANIA, $RYAN, etc., which has attracted market attention. Most of these tokens are issued on the Meteora platform and show striking similarities: extremely high full dilution valuation (FDV), exaggerated trading volumes and drastic price volatility. On the surface, the celebrity effect has driven the market popularity of these tokens, but in fact, there is a systematic wealth harvesting mechanism behind this.
Meteora Platform: Innovation becomes a tool
Meteora platform has attracted numerous projects with its unique DLMM model, which has low slippage and flexible liquidity management mechanism. However, these features designed to improve capital efficiency have been maliciously exploited and become tools for project parties and insider traders to make profits.
System operation: every step of the way
In typical cases, the project party usually takes the following steps:
- Pre-create tokens;
- Create a DLMM trading pool on Meteora;
- Inject unilateral liquidity.
Analysis found that project parties often pre-create DLMM pools of tokens and USDC trading pairs, injecting only unilateral liquidity. This means that at the opening, a large number of limit sell orders have been preset, waiting for liquidity to influx, and the zero slippage characteristic of DLMM trading further amplifies the profit margin of the project party.
Insider Trading: Accurate Time and Information Advantages
$MELANIA, $ENRON, $LIBRA and other cases, insider traders have grasped the contract address (CA), trading pool information and opening time in advance. For example:
- $LIBRA created tokens on the 14th, but created a trading pool 20 minutes before the opening of the 15th (http://m.miracleart.cn/link/02c9aaa85c90be06dc2e1a1effe79e73);
- $ENRON created tokens on January 25th, and the Meteora pool was not set up until one hour before the transaction on February 4th (http://m.miracleart.cn/link/0c1afc055393604da9a0074c7a02d80e).
GMGN data shows that nearly $4.5 million of funds poured in within 2 seconds of the opening of $LIBRA.
A trader address (8bZsrR5aRHDZYkWPLQoDFZUKsHCTeJ8uqhPnoMn7baG3) seized the lead with a single $1.4 million transaction and made 170 transactions in the opening block. This shows that it has insider information.
Money-making mode: Systematic operation
The sniper trader adopted a systematic profit strategy:
- Quickly exchange tokens, partially exchanged to USDC;
- Scatter the remaining tokens to multiple sub-accounts for distribution;
- Dump tokens in bulk and add unilateral liquidity to new trading pairs, and convert them all into USDC after making a profit.
In the end, the account made a profit of US$17 million, while the project party's income alone reached US$10 million.
Warning and Reflection
$LIBRA case is not an isolated case, and tokens such as $ENRON and $MELANIA also show similar operating modes. Investors need to be wary of the capital harvesting trap of "celebrity Meteora unilateral liquidity". The high liquidity mechanism of the Meteora platform has been abused, seriously damaging market liquidity and investor confidence. Investors should invest carefully and raise their risk awareness.
The above is the detailed content of Behind Solana Celebrity Tokens: The Feast of Project Party and the Rat Store. For more information, please follow other related articles on the PHP Chinese website!

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