Magic Eden announces the ME token economics, trading NFTs and tokens can earn ME.

The NFT trading platform Magic Eden on Solana announced in August this year that it will issue the ME token and integrate it into the wallet application. Recently, Magic Eden has finally officially launched the tokenomics of ME, which will drive the future development of Magic Eden through trading rewards, governance rights, and cross-chain support.

Magic Eden's Vision: Building the World's Largest Cross-Chain Trading Platform

According to the official announcement, Magic Eden currently dominates the BTC DEX, accounting for over 80% of the trading volume in Bitcoin-related protocols such as Ordinals and Runes. It also holds 60% of the highest receivables and 29% of the user share in the NFT ecosystem.

As a new cross-chain dApp, it supports trading of any digital assets, including tokens and NFTs, anytime and anywhere. The platform aims to simplify and make digital asset trading intuitive, with user-friendly interfaces designed for desktop and mobile devices to attract more users into the world of blockchain trading.

ME Tokenomics: Growing the Community and Ecosystem Together

The total supply of ME tokens is 1 billion, which will be gradually distributed over four years. Over half of the ME tokens will be allocated to the community to ensure the long-term development of the Magic Eden ecosystem.

Distribution details are as follows:

• Initial distribution ratio 12.5%: At the token generation event TGE, 12.5% of the total ME tokens will be used to reward eligible users, such as those in the Bitcoin, Solana, and EVM ecosystems. These users are considered key members of the ME token DAO as their participation will contribute to community governance and the development of Magic Eden.
• Community and ecosystem 37.7%: Among these, 22.5% of ME tokens are used to reward active users and 15.2% are allocated to participants in ecosystem construction and advocacy, including long-term partners supporting protocol growth.
• Contributors 26.2%: This includes the Magic Eden team, developers, and advisors. Over 60% of this token allocation, specifically 26.2% of 60%, will have a "lock-up period," meaning these ME tokens cannot be transferred or sold for at least 18 months after issuance, ensuring holders have a long-term commitment and contribution to the project.
• Strategic participants 23.6%: Provided to key partners for protocol development, with a lock-up period of at least 12 months.

Rewarding Trading Users to Create a Fully Participatory Community

Magic Eden claims to introduce the most comprehensive trading reward program in the market, where users can earn ME tokens when trading NFTs and tokens. ME token holders can also earn additional rewards through staking and participate in protocol governance. If users do not claim these ME tokens within a specified period in the future, the tokens will be reallocated to the community pool as rewards for staking ME token holders, ensuring proper resource utilization.

TGE Approaching: Users Can Check Eligibility in Advance

Prior to the token generation event TGE, users will be able to check their wallet's eligibility for token claim and start staking ME tokens on the day of TGE. Magic Eden advises the community to stay vigilant against fraud and notes that the official team will not contact users proactively or request personal information.

Magic Eden is set to integrate multiple cross-chain ecosystems and tokens by the end of the year, with the founder advocating the MAGIC principle.