Odaily News A meme coin named MELANIA has attracted attention for claiming to be “official” and receiving publicity from Melania Trump, the First Lady of the United States. The coin was launched in January this year, around the time of President Donald Trump's inauguration. In April, multiple crypto traders filed a class-action lawsuit, accusing several meme coin projects, including M3M3, LIBRA, ENRON, and TRUST, of perpetrating a “Pump and Dump” fraud by manipulating token issuance for personal gain, resulting in losses for investors. On Tuesday, the plaintiffs updated the lawsuit documents to also include MELANIA as a suspected project. The lawsuit does not accuse Melania herself of participating in the fraud but claims that she inadvertently endorsed the project, serving as a “figurehead.” The plaintiffs emphasized that if the First Lady's team were aware of any illegal activities related to the project, they would immediately retract any authorization. The White House and the defendants.

Foresight News reports that the Solana liquidity management platform Meteora has announced the MET token economic model, which will have its TGE on October 23, at which time stakeholders will receive 100% unlock. According to the Meteora plan: 20% of MET is designated for Mercurial stakeholders; 15% of MET is allocated to Meteora users through the LP incentive program; 2% of MET is allocated to off-chain contributors, those who contribute to the development of Meteora; 3% of MET is allocated to the Jupiter staking incentive program; 3% of MET is allocated to centralized exchanges, market makers, etc., with 2% of MET allocated to M3M3 stakeholders. In addition, 18% of MET.

Odaily News According to the latest news, Burwick Law and Hoppin Grinsell law firms have filed a lawsuit on behalf of investors against Ben Chow, the Meteora platform, and Hayden Davis, Gideon Davis, CT Davis, and Kelsier among others. The complaint accuses them of fraud, securities fraud, and other illegal activities in the process of launching the M3M3 Token on the Meteora platform.

According to Gate.io News bot, it was reported by Wu that investors have filed a class action lawsuit in the Southern District Federal Court of New York against Meteora founder Ben Chow, Meteora company, Hayden Davis, Kelsier Ventures executives Gideon Davis and CT Davis, as well as Kelsier. The American law firms Burwick Law and Hoppin Grinsell are representing the investors, alleging fraud, securities fraud, and other illegal activities during the M3M3 token issuance process.

The DEX Meteora on Solana has proposed two proposals: 1. Increase the allocation of MET to Liquidity Providers from 10% to 15%; 2. Allocate 20% of the MET supply to the team, with 2% allocated to M3M3 stakeholders, but excluding bad actors. These proposals aim to enhance the incentive mechanism and distribution method of the MET Token.

The Meteora team has released two governance proposals: one is to adjust the LP Token reward share to 15%, increasing the token rewards for participants in Launch Pools and Launch Pads; the second is to allocate 20% of the tokens to the team and Lock-up Position them for 6 years, with 2% going to M3M3 stakeholders.

DeFiTuna founder Moty publicly accused Kelsier Ventures of market manipulation, fully refunded the funds, and cut ties. Kelsier is involved in a Token manipulation scheme, harming interests on the M3M3 platform, instructing to maximize fund harvesting. MELANIA Token manipulation, 1% Token transferred to Vlad to evade tracking. The Kelsier team harvested $2.45 million from the community, totaling manipulation of funds exceeding $200 million.

DefiTuna founder Moty announced the return of $30,000 and cut ties with Kelsier due to Kelsier's alleged involvement in market manipulation, especially in the Token manipulation on $LIBRA, $MELANIA, and M3M3 memes issuance platforms, causing significant financial losses to community members. Moty pointed out that Kelsier profited from the Meme issuance on the M3M3 platform and criticized the lack of responsibility shown by the Meteora leadership. Meteora co-founder Ben promised to resign but responded ambiguously.

Odaily Planet Daily News Game.com launched the innovative Fair Launch Tokenissuanceprotocol officially. In Game.com, all Memecoin tokens follow the following mechanisms: Fair Launch, launched on Meteora (swap trading enabled, M3M3 reward mechanism activated 1 hour later where users can stake tokens to earn transaction fee revenue). During the Fair Launch phase, the total amount of Tokens is fixed at 1 billion, with 80% of the Tokens being distributed to users through Fair Launch. The Token price is set by the dev, and the opening price is default to be 2 times the Fair Launch price. At the same time, the dev can also choose whether to enable the Slot Machine game mechanism, and if enabled, users will pay

ChainCatcher news, according to GMGN market data, the top five Memecoins ranked by 'blue chip index' in the past 24 hours on Solana on-chain are APPLE (14%), BRETTA (13.1%), POPCAT (12.5%), WIF (8.9%), and M3M3 (6%). ChainCatcher

Golden Finance reported that Meteora, the Liquidity platform for stable assets on Solana, announced on X platform that it plans to airdrop M3M3Token to some stakers. The cost reward worth over $4 million will be distributed to the top 999 $M3M3 stakers. It is reported that the cost reward funds mainly come from locking Liquidity in the Memecoin pool for Money Laundering, and these cost rewards need to be claimed manually by the stakers.