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.

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.

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.

Meteora co-founder Ben Chow responded to criticism of LIBRA on social media, emphasizing that Meteora has not received or managed any Token, only providing technical support; recommended Hayden Davis to participate in other projects; strict confidentiality for the LIBRA project, with engineers only obtaining relevant information in the first few minutes of launch.

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