Meteora is reinforcing its long-term vision around the $MET token, positioning it once again at the center of the protocol’s economic engine.

The team says the crypto market is still young and making rigid commitments today could limit flexibility later. Instead, Meteora plans to focus on fundamentals, growing revenue, optimizing expenses, and returning value to tokenholders over time.

This updated approach was laid out by the team in a detailed announcement shared here:

The $MET token has always been the heart of the protocol, and we are here to reaffirm that.

Crypto is nascent, and we feel that making decisions now about the $MET token will limit our flexibility, which is ultimately bad for token-holders.

We have decided to focus in the long… pic.twitter.com/6vyVaPRGLF

— Meteora (@MeteoraAG) December 10, 2025

Meteora says clarity and transparency around financials will be central to its long-term strategy. And in Q4 2025, the team took its strongest step yet by executing one of the largest buyback programs in the protocol’s history.

Meteora confirmed that it spent $10.6 million on buybacks this quarter, accumulating 2.3% of the total MET supply. This marks a significant commitment to direct value return, with buybacks representing 88% of the protocol’s $12M revenue generated in the same period.

The protocol noted there is some revenue softening, making it uncertain whether buybacks at this scale can continue. But for now, discretionary buybacks are active and ongoing.

All buybacks are executed and tracked through a single public wallet:

FzULv8pR9Rd7cyVKjVkzmJ1eqEmgwDnzjYyNUcEJtoG9

As of now, the wallet holds 1.8M USDC for future purchases, meaning additional buybacks are already funded.

These data points were expanded on by market analysts in a breakdown shared here:

1/ @MeteoraAG just announced their token buybacks, so let’s take a look at what they’ve done so far, what portion of revenue the buybacks represent, and how this could affect circulating supply. pic.twitter.com/dv2ddDz9eT

— Pine Analytics (@PineAnalytics) December 10, 2025

With $MET unlocking at a rate of 22 million tokens per quarter, aggressive buybacks could offset unlock dilution. If current removal levels continue, the net effect would be a flat circulating supply, a rare scenario for a token undergoing scheduled unlocks.

Meteora says the goal is not to make premature decisions about token mechanics that may become restrictive in the future. Instead, the focus is on building a financial base that allows the protocol to adapt and evolve.

The MET token remains the protocol’s heart, and buybacks are the first step of a long-term commitment to tokenholder value.

The team plans to regularly communicate earnings, treasury movements, and buyback activity. The aim is to give tokenholders more visibility into how operational performance connects directly to MET’s long-term value.

By tying financial discipline to transparent reporting, Meteora wants to build a sustainable token economy that can scale without relying on temporary hype cycles or aggressive emissions.

But buybacks are only part of the strategy. Meteora is now taking its first major step in designing a deeper, product-linked token ecosystem through the new Meteora Economy.

At the center of this system is Comet Points, a consumable, earnable asset directly tied to user activity.

Users earn Comets by staking MET and using Meteora’s products, creating a direct connection between protocol engagement and tokenholder rewards.

Comet Points form the foundation of an expanding marketplace of benefits, including:

This aligns with the token’s original design intent, tying MET ownership to core product usage and building an active, cyclical economy around the protocol’s growth.

The team says the Comet system will evolve over time, with community input playing a major role in shaping new features and redemption options.

Meteora sees Comets as the first step toward turning the protocol into a broader financial and experiential ecosystem for users who want more than passive token exposure.

The protocol faces a meaningful challenge: a steady 22M MET unlocking each quarter for the foreseeable future. At this rate, dilution would normally push circulating supply higher each quarter.

But Meteora’s aggressive buybacks change the equation.

If buybacks continue at the Q4 2025 pace of 2.3% supply accumulation, the circulating supply could remain neutral each quarter.

This creates a dynamic where the protocol uses operational revenue to counterbalance unlocks.

However, this model depends heavily on revenue stability. Recent financial data indicates a slight downtrend, raising questions about how long large-scale buybacks can be sustained.

Still, Meteora’s commitment to discretionary buybacks signals a long-term intent to support MET’s value, even in fluctuating market conditions.

Meteora is entering a new strategic phase, one defined by financial discipline, transparent reporting, steady value return, and a growing internal economy.

The MET token remains at the center. Buybacks are now established as a core mechanism for value creation. And Comet Points are built to deepen engagement, reward loyalty, and expand Meteora into a full economic ecosystem.

The protocol says this is only the beginning. The Comet economy will iterate. The buyback strategy will evolve with revenue performance. And community feedback will guide the decisions shaping MET’s future.

For now, Meteora is executing one of the most aggressive buyback programs in the market and laying the foundations for a user-owned, utility-rich ecosystem.

The next quarters will determine whether revenue growth can sustain the pace of supply removal, and whether Comet Points become a defining feature of Meteora’s long-term economic loop.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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