Coin overview
ME
In progress3.30+0.6%
Last price (USDT)
53.04K
24h total (USDT)
85.97K
Total vol (USDT)
2024-11-22 12:00:00 ~ Pending
Trading time (UTC+0)
Pending
Delivery time (UTC+0)
Total supply1.00B
Introduction
$ME is committed to supporting the MagicEden-led cross-chain ecosystem super dapp strategy, mainly focusing on acquiring more users from different public blockchain or other infrastructure, and allowing users to realize one-stop seamless trading of multi-chain assets.
Much Anticipated Airdrop’s Distribution Date Has Been Announced: Here’s All You Need to Know
The ME Foundation has announced the launch of ME, a Solana-based ecosystem token associated with the popular NFT marketplace Magic Eden. The highly anticipated airdrop, scheduled for December 10, could be valued at over $500 million based on pre-market trading prices. The ME token will reward users of Magic Eden’s Bitcoin exchange and cross-chain NFT marketplace, with claims only accessible through the Magic Eden Wallet app. Details on how the platform’s existing loyalty rewards system, Magic Eden Diamonds, will be converted into ME tokens remain unclear. However, a spokesperson noted that airdrop distributions will take into account factors such as “organic” trading activity, cross-chain trading, and user loyalty. Eligible users will be able to verify their airdrop status using a tool that will be released in the days leading up to the token claim date. Related News As Bitcoin Hits $100,000, Analyst il Capo Still Not Convinced: 5 Reasons Why During the airdrop, 12.5% of the total ME supply (equivalent to 125 million tokens) will be unlocked and available for eligible users to claim. Additionally, 22.5% of the 1 billion token supply will be reserved to encourage the continued use of the ME ecosystem and related platforms. The ME token is trading on pre-market platforms like the Whales Market, where it recently reached $4.50 per token, giving the airdrop a potential value of $562 million. The token is priced slightly lower at $3.41 on Coinbase’s pre-market trading platform. Trading volumes have slowed since the detailed airdrop mechanics were announced, but anticipation remains high. *This is not investment advice.
Magic Eden (ME token) TGE will be held on December 10, and the airdrop scale is expected to exceed US$500 million
PANews reported on November 23 that according to Decrypt, the ME Foundation will launch the Solana-based ecosystem token ME on December 10. Based on the pre-market trading price, the value of this airdrop is expected to exceed US$500 million. The token will only be available through the Magic Eden wallet application. Earlier news, Magic Eden announced the economic model of the ME token: the total supply is 1 billion, and more than half is allocated to the community.
The battle for wallet supremacy is underway
In the past year, crypto has seen wallet launches from centralized exchanges including Kraken , Coinbase and Bitget , NFT marketplaces like Magic Eden , TradFi firms Naver and CoinFlip , and of course DeFi protocols such as Osmosis’ Polaris Wallet , Uniswap , and Aave which announced its own Family wallet at Devcon last week. All these are in addition to the hundreds of already-existing wallets that work perfectly fine. This begs the question: Why do crypto users need more wallets? But that’s the wrong question. The right question is, why does every company want their own wallet? It turns out that owning the end-user via a crypto wallet is quite a prosperous business. Wallets are typically the first front-end touchpoint for crypto newbies wanting to buy their first crypto tokens. This puts wallet providers in a uniquely close position to the end-user, in turn granting them the bargaining power to command a take-rate. This take-rate is primarily exercised through in-wallet swaps on “fee-insensitive” users (i.e. normies). MetaMask for instance, makes about a weekly average of $1.5 million on wallet swaps. Wallet providers also enjoy privileged oversight over transaction order-flow, a fancy way of saying that wallet providers know the trades that thousands of users are making. That knowledge is highly valuable because wallet companies are potentially selling that order-flow to professional block builders who extract MEV. Newsletter Subscribe to Blockworks Daily Subscribe The latter is, of course, somewhat dubious. It’s possible that wallets like MetaMask already do so , and we know for a fact that Telegram trading bots (with integrated wallets) like Banana Gun are doing so and divvying up MEV profits with block builders. Wallets are also becoming increasingly the preferred interface for onchain activity. There is some data to show that DEX front-ends are increasingly relegated to the back-end as wallets, solver models (CowSwap, 1inch Fusion) and DeFi aggregators take over. Source: Delphi Digital This thesis is more popularly known as the “Fat Wallet” thesis, yet another one of the crypto industry’s tendencies to predict trends in one grand proclamation. The thesis is not new — it first emerged in early 2023, but is now seeing some attention again thanks to a well-articulated update from Robbie Petersen . Builders and investors banking on the Fat Wallet thesis also believe that there will be potentially valuable ways for wallets to monetize their users down the line. As wallets increasingly move away from a utilitarian barebones “send and receive crypto” design toward feature-rich hubs that are plastered with trending onchain dapps, mints and messaging capabilities, it may not be surprising to see something like a 30% Big Tech tax on this distribution. An example of old vs new wallet user interfaces Wallets also have strong natural synergies for B2B integrations with crypto payments services. We’ve seen this lately with wallets like Zeal or Fuse which let you spend your DeFi yield or idle stablecoin holdings via Visa integration. The Fat Wallet thesis may very well amount to just another failed investment theory, but it does provide a convincing rationale for why the industry is seeing a new wallet launch every other week. With hundreds of competitors looking to grab the new wave of users that onboard every bull market cycle, wallets are competing in myriad ways. Coinbase Wallet is turning to the tried and true strategy of market incentives, announcing today a 4.7% APY on USDC holdings. Magic Eden has promised claimable airdrops for its native ME token — but only if you’re using Magic Eden’s very own wallet. Everyone wants to be the first wallet to bind the user. It’s a tough business. The good news is that free market competition is the most effective check on economic concentration, and consumers can rest easy that no one wallet will probably ever dominate the market. Start your day with top crypto insights from David Canellis and Katherine Ross. Subscribe to the Empire newsletter . Explore the growing intersection between crypto, macroeconomics, policy and finance with Ben Strack, Casey Wagner and Felix Jauvin. Subscribe to the Forward Guidance newsletter . Get alpha directly in your inbox with the 0xResearch newsletter — market highlights, charts, degen trade ideas, governance updates, and more. The Lightspeed newsletter is all things Solana, in your inbox, every day. Subscribe to daily Solana news from Jack Kubinec and Jeff Albus. Tags Magic Eden MetaMask wallets
Magic Eden Foundation: The ME token is about to be launched and has already started pre-market trading on some platforms
On November 22, the Magic Eden Foundation officially announced on social media that ME tokens have been pre-listed for trading on the following platforms: Coinbase International, OKX, Bybit, Bitget, Gate, Mexc and Kucoin. The real ME token is about to be launched.
Bitget pre-market trading:Magic Eden (ME) is set to launch soon
We're thrilled to announce that Bitget will launch Magic Eden (ME) in pre-market trading. Users can trade ME in advance, before it becomes available for spot trading. Details are as follows: Start time: 22 November, 2024, 12:00 (UTC) End time: TBD Spot Trading time: TBD Delivery Start time: TBD Delivery End time: TBD Pre-market trading link: ME/USDT Bitget Pre-Market Introduction Delivery method: Coin settlement, USDT settlement Coin settlement Coin settlement: Utilizes a "cash on delivery" method. If the seller fails to deliver the required coins, the security deposit will be forfeited as compensation for the breach of contract. USDT settlement USDT settlement: A new option for pre-market trades. This is the second settlement option offered by Bitget for pre-market trades. Orders are settled at the average index price at the last minute as the delivery execution price. The losing party will pay the difference to the winning party. Both parties can lose or gain up to 100% of the security deposit, excluding transaction fees. Example: The user buys 10 tokens at 10 USDT (the filled order is called Order A) and sells 10 tokens at 15 USDT (the filled order is called Order B). At delivery time, the system calculates the delivery execution price based on the average index price from the last minute. Assuming the execution price is 5 USDT, the calculations are as follows: PnL of Order A = (5 – 10) × 10 = –50 USDT PnL of Order B = (15 – 5) × 10 = 100 USDT The total PnL for the user in pre-market trading is 50 USDT. For USDT settlement, orders are settled at the average index price from the last minute as the delivery execution price, determined by a weighted average of prices at leading exchanges to ensure fairness and transparency. Introduction $ME is committed to supporting the MagicEden-led cross-chain ecosystem super dapp strategy, mainly focusing on acquiring more users from different public blockchain or other infrastructure, and allowing users to realize one-stop seamless trading of multi-chain assets. ME Total supply: 1,000,000,000 Website | X | Telegram FAQ What is pre-market trading? Bitget pre-market trade is an over-the-counter trading platform specializing in providing a pre-traded marketplace for new coins before their official listing. It facilitates peer-to-peer trading between buyers and sellers, enabling them to acquire coins at optimal prices, secure liquidity in advance, and complete delivery at a mutually agreed upon time. What are the advantages of Bitget pre-market trading? Investors often have expectations regarding the price of a new coin before spot trading becomes available. However, they may be unable to purchase the coin at their preferred price and secure liquidity in advance due to lack of access. In response to this, Bitget pre-market trading offers an over-the-counter (OTC) platform where buyers and sellers can establish orders in advance to execute trades as desired and complete delivery later. In this scenario, sellers are not required to own any new coins; instead, they only need to obtain sufficient new coins for delivery before the designated delivery time. How are pre-market trades deliveries completed? The system will pre-freeze the funds required for the current order between the buyer and seller as a transaction guarantee. Prior to the delivery time, the seller must ensure that their spot account holds the required amount of new tokens; otherwise, the transaction will be canceled. Similarly, the system will unfreeze the buyer's funds and compensate the buyer with the seller's frozen margin. Once the delivery is completed, the corresponding quantity of tokens will be transferred to the buyer's spot account, and the buyer's frozen funds will be transferred to the seller's spot account after deducting the transaction fee. Note: (1) Upon reaching the delivery time, the system will execute the delivery according to the transaction time in sequence, which is expected to be completed within one hour. The seller should refrain from any transactions involving the delivery currency funds within 30 minutes after delivery initiation to mitigate the risk of delivery failure due to insufficient funds. (2) If you have both buy and sell orders, ensure that your spot account holds the required quantity of the sell order currency at the time of delivery. Orders with insufficient balance will be processed using the "compensate with margin" approach. How can I make a pre-market trade as a seller? As a seller, you are required to use the USDT in your spot account to pay the margin. You can list your new tokens on the order market at your preferred price via Post Order, or you can find a suitable buy order on the order market and sell it to the buyer at the buyer's asking price. Once the order is filled, you just need to wait for the delivery. How can I make a pre-market trade as a buyer? As a buyer, you are required to use USDT from your spot account to pay for the trade. Using the Place Order function, set the quantity of coins you want to buy at your preferred price and list the maker order in the order market. Bitget will then lock the funds for the purchase and handle any related fees. Alternatively, you can directly select a sell order from the marketplace and buy the coins at the seller's designated price. Once the order is filled, simply await delivery. Do I have to fill the entire maker sell/buy order at once in pre-market trading? No, the platform allows you to trade any quantity of coins as long as it meets the minimum transaction limit. Disclaimer Cryptocurrencies are subject to high market risk and volatility despite high growth potential. Users are strongly advised to do their research as they invest at their own risk. Thank you for supporting Bitget! Join Bitget, the World's Leading Crypto Exchange and Web 3 Company Sign up on Bitget now >>> Follow us on Twitter >>> Join our Community >>>
Magic Eden Set to Launch Highly Anticipated Token Airdrop
Magic Eden, a leading NFT marketplace and decentralized exchange, is set to launch its highly anticipated ME token airdrop, generating considerable excitement among investors as the crypto market remains bullish. The airdrop will be part of Magic Eden’s broader strategy to boost its platform’s growth and incentivize user engagement. The ME token has a total supply of 1 billion, with 12.5% (125 million tokens) allocated for the initial airdrop. Over the next four years, 50.2% (502 million tokens) will be distributed across the community and ecosystem. The breakdown includes 26.2% for contributors, 37.7% for the community, and 23.6% for strategic participants. Token distribution will be handled through Magic Eden’s mobile dApp, with an eligibility checker to be launched in advance to help users confirm their allocations. READ MORE: Solana’s Memecoin Boom: A Catalyst for Growth or a Risky Fad? Despite the buzz, some critics point to past issues with airdrop events from projects like X Empire and HMSTR, which faced last-minute changes to token allocation. Magic Eden will need to navigate these challenges carefully to maintain trust within its community. CEO Jack Lu, however, remains optimistic, sharing that the ME token will become the platform’s native currency, offering staking rewards, ecosystem contributions, and governance rights to users, further solidifying the platform’s position in the market.
Magic Eden Traders Set to Receive $312 Million Worth of ME Tokens in Airdrop
From decrypt Logan Hitchcock The ME Foundation announced details Monday for the upcoming ME token airdrop, which will reward users of Magic Eden’s Bitcoin exchange and cross-chain NFT platform. At launch the community is set to collectively receive 12.5% of the total ME supply of 1 billion Solana -based tokens, or 125 million tokens—currently estimated to be worth $312 million based on the current pre-market price at Whales Pro . The pre-market ME price of $2.50 represents a 233% gain in the last 24 hours on about $193,000 in volume traded in that time. While pre-market prices are not especially reliable, an airdrop of this magnitude would place ME inside the top 20 crypto airdrops of all-time according to CoinGecko . Irrespective of the pre-market price, Magic Eden users are set to receive one of the largest community airdrops of 2024, with the token generation event (TGE) expected “in a few weeks” per the official ME Foundation post. The 12.5% community allocation instantly unlocked from the start matches that provided by Tensor, a rival Solana NFT marketplace to Magic Eden. It also exceeds the 10% that Jupiter , the Solana decentralized exchange (DEX) aggregator, unlocked in its community airdrop at launch. An additional 225 million ME tokens have been earmarked for future airdrops to active users of Magic Eden’s products, and soon, “You’ll be able to earn $ME through your daily use of Magic Eden products,” tweeted Magic Eden CEO and co-founder Jack Lu. While many traders celebrated the token detail reveal, uncertainty still abounds about how exactly Magic Eden will convert the platform’s existing points-like rewards system, Diamonds, into the ME token. Multiple users on Twitter (aka X) responded to Lu’s comments seeking clarity on Diamonds, with Web3 personality DFarmer suggesting that Magic Eden is “really dragging this out” without providing a date for the token generation event or Diamonds-to-ME conversion rate. “You know this is what people wanna know, enough with the self-incensing and announcements of announcements,” said DFarmer . Users of Magic Eden’s Bitcoin, Solana, and Ethereum -related products will find out their allocations of ME on the day of the token generation, according to a member of ME Foundation’s go-to-market team. An eligibility checker will be launched beforehand. Since beginning as a Solana NFT marketplace, Magic Eden has branched out to welcome Bitcoin Runes as well as NFT trading on as many as seven blockchains, including Bitcoin and Ethereum. It is the leading on-chain marketplace, processing more than $1.12 billion in trading volume over the last six months and maintaining a 33% market share during that span, per Tiexo .
With the coin issuance imminent, can Magic Eden reignite the NFT market?
Original | Odaily Planet Daily ( @OdailyChina ) Author | Asher ( @Asher_0210 ) The big portion of pork trotter rice for money-grabbing party is about to start. This morning, Magic Eden Foundation announced the economics of ME tokens, of which 12.5% of the total supply will be used for token airdrops, and all will be unlocked at TGE. At the same time, Jack Lu, co-founder and CEO of Magic Eden, posted on X that the ME token will be launched in a few weeks, and community priority features will be launched in the future to reward loyal users. Users can earn ME tokens through daily use of Magic Eden products. Affected by Magic Edens announcement of ME token economics, pre-market data from Whales Market shows that ME (Magic Eden) is currently trading at 2.5 USDT, up 150% in 24 hours , with a 24-hour trading volume of over 200,000 USD. Some of the big score-boosting players in the Magic Eden community are quite satisfied with the current pre-market price performance, and even think that ME has a chance to hit 3 to 4 USD when it opens. ME pre-market price situation However, the floor price of Magic Tickets briefly rose to 0.24 SOL this morning and then quickly fell back. It has now fallen back to the level before the release of the ME token economics news, temporarily reported at 0.179 SOL. Magic Tickets Floor Price K-line Chart Next, Odaily Planet Daily will be the first to let you know about the Magic Eden project, the ME token economics model, and the preparations before the official application for the token. Project Introduction Image source: Official Twitter Magic Eden is a multi-asset on-chain trading platform that unifies the market and user experience, as well as a more powerful business model, through ME tokens and Magic Eden wallets. Zedd, co-founder of Magic Eden, said in a blog post: “Magic Eden’s core focus is on actual user usage rather than pure transaction volume, because transaction volume is an indicator that is easily affected by incentives. We are more focused on analyzing user activity and actual income. Blur has done a good job in incentivizing liquidity, which we think is a clever strategy. However, we always believe that the platform we pursue should not rely solely on liquidity incentives. We prefer to focus on user activity and income because these indicators can better reflect the health of the platform. In addition, we also realize that over-reliance on transaction volume as a metric can be risky.” According to official data, Magic Edens current cross-chain NFT and token transaction volume has reached $600 million, and the latest mobile product Magic Eden Wallet has 300,000 monthly active addresses. In addition, Magic Eden is the No. 1 DEX in the Bitcoin ecosystem, accounting for more than 80% of rune and inscription transaction volume ; on the other hand, it is also the largest NFT platform with the highest revenue and user share in the NFT ecosystem (revenue share accounts for 60%, user share accounts for 29% ). Magic Eden stats Token Economic Model According to official information, Magic Edens native token ME has a total supply of 1 billion tokens. The token distribution will be released within 4 years, of which more than half will be allocated to the community. The specific distribution is as follows: Initial token airdrop: 12.5 million tokens, accounting for 12.5% of the total supply, which will be rewarded to users of the Bitcoin, Solana, and EVM ecosystems. All will be unlocked at TGE and distributed to users through Magic Eden’s mobile dApp, and the unclaimed amount will be returned to ME participants as part of the community allocation as future rewards; Community and Ecosystem: 37.7 million, accounting for 37.7% of the total supply, of which 22.5% of the total supply will be used to reward active users of the ME protocol, mainly through the reward program; the remaining 15.2% of the total supply will be used for ecosystem development, including enthusiastic advocates and creators who want to develop and support the protocol; Contributors: 26.2 million, accounting for 26.2% of the total supply. This portion will be allocated to project contractors, consultants, and company employees. More than 60% of this portion of tokens will be locked for at least 18 months after TGE and unlocked linearly thereafter. Strategic Participants: 23.6 million, accounting for 23.6% of the total supply. This portion is allocated to all strategic participants who provided important guidance in the development of the ME Foundation protocol, and this portion will be locked for at least 12 months after TGE and unlocked linearly thereafter. ME Token Economics According to the token release chart, ME will be distributed within 4 years, at which time all ME tokens will be fully circulated and most of them will be distributed to the community. ME Token Release Chart At the same time, in order to ensure that the community and the protocol are protected from security issues, Magic Eden will appoint a 5-member security committee to oversee the multi-signature wallet, which can perform both emergency actions and delayed non-emergency actions. Speculations on the exchange of diamonds and tokens Although 12.5% of the total supply of ME tokens is used for this airdrop, the money-grabbing party is more concerned about the exchange ratio between the diamonds they brushed and the tokens. The total supply of diamonds is 17 billion. If calculated based on the full circulation of diamonds, the exchange ratio is 136:1. According to the feedback from administrators in the official Discord channel, the total amount of diamonds swiped by users across the network is still a certain distance away from the target of 17 billion diamonds. Therefore, many users speculate that the exchange ratio of diamonds to tokens may be close to 100:1. This means that an account with 10,000 diamond points can be exchanged for about 100 ME tokens. Based on the over-the-counter trading price of $2.5, the value of this airdrop is about $250. The channel administrators response to the total amount of diamonds in the official Discord Preparations before claiming tokens With the announcement of the Magic Eden token economic model, the token airdrop date is approaching. In order to ensure that the money-grabbing party can successfully claim the tokens as soon as possible, Odaily Planet Daily has compiled the following points of attention based on official information: Before TGE, users can check which wallets are eligible through the eligibility checker, and users can also connect their wallets at this time, similar to the TestME application process (the TestME application process can refer to this article: Magic Eden is about to open testME airdrop applications, and will familiarize you with the process in advance ); On and after the TGE day, there will be a claiming period during which eligible users can claim and stake ME tokens. Therefore, similar to the test token claiming process, you will need to download and install the Magic Eden official wallet on your mobile phone when claiming official tokens. It is worth mentioning that Magic Eden’s previous test coin TestME claimed and stated that it had no monetary value. By participating, users can ensure that their wallets are correctly linked and prepared to accept official ME token claims, but more than 250,000 wallets claimed it in the first place. In addition, 37.7% of the shares in the ME token economic model are allocated to the community, and these tokens are likely to be used for subsequent Magic Eden points swiping activities or airdrop rewards. Therefore, even if you miss this airdrop, you still have the opportunity to prepare for the Magic Eden Season 2 token airdrop event in advance. Let us also look forward to the opening performance of Magic Eden, the most active trading platform in the NFT market, and its token ME. summary Currently, Magic Eden is the largest NFT platform with the highest revenue and user share, surpassing Blur and OpenSea ( v2 will be launched in December ). Although the release of the token economic model at this time and the plan to issue tokens in the next few weeks, as well as the potential second season of the token-swiping activity will attract a lot of users attention in a short period of time, it is difficult to inject sustained attention and liquidity into the NFT sector in the current environment of rushing for Meme coins. If Magic Eden wants to ignite the NFT market again through the issuance of coins and continuous token reward activities, it is undoubtedly a challenging goal. At present, the markets attention to NFT has declined significantly. Even in the community, the term NFT has become more of a joke, and user interest has almost cooled. As the pioneer of NFT market coin issuance, Blur once brought about a wave of discussions on whether excessive financialization is the elegy of NFT, and whether not embracing financialization is also a chronic death. Perhaps, whether the NFT industry can rise again is not just a question for NFT trading platforms to think about.
Magic Eden Token Generation Event (TGE) is coming soon! What preparations should be made before claiming the airdrop?
Original Title: "With Token Issuance Imminent, Can Magic Eden Reignite the NFT Market?" Original Author: Asher, Odaily Planet Daily The "Fur Plucking Party" is about to begin feasting on a "Big Portion of Pig's Feet." This morning, Magic Eden Foundation revealed the ME tokenomics, with a total supply of 12.5% allocated for a token airdrop, all of which will be unlocked at TGE. Additionally, Magic Eden co-founder and CEO Jack Lu announced in a post on X that the ME token will go live in a few weeks and will introduce a community-first feature in the future to reward loyal users. Users will be able to earn ME tokens by daily using Magic Eden products. Influenced by Magic Eden's release of the ME tokenomics, Whales Market pre-market data shows that ME (Magic Eden) is currently trading at 2.5 USDT, with a 24-hour increase of 150% and a trading volume exceeding $200,000. Some large holders in the Magic Eden community are quite satisfied with the current pre-market price performance and even believe that ME has the potential to surge to $3 to $4 at launch. ME Pre-market Price Situation However, the floor price of Magic Tickets briefly rose to 0.24 SOL this morning before quickly falling back, currently settling back to the level before the release of the ME tokenomics, trading at 0.179 SOL. Magic Tickets Floor Price Candlestick Chart Next, Odaily Planet Daily will be the first to bring you insights into the Magic Eden project, the ME tokenomics model, and the preparations leading up to the official token claim. Project Introduction Image Source: Official Twitter Magic Eden is a multi-asset on-chain trading platform that achieves market and user experience unification through the ME token and Magic Eden wallet, as well as a more robust business model. Magic Eden co-founder Zedd stated in a blog post: "Magic Eden's core focus is on actual user usage rather than just trading volume, as trading volume can easily be influenced by incentives. We are more focused on analyzing user activity and actual revenue. Blur has performed well in liquidity incentives, which we believe is a clever strategy. However, we always believe that the platform we aim for should not rely solely on liquidity incentives. We are more inclined to focus on user activity and revenue as these metrics more accurately reflect the health of the platform. Additionally, we are also aware that relying too much on trading volume as a measure could be risky." According to official data, Magic Eden's current cross-chain NFT and token trading volume has reached $600 million, with the latest mobile product, Magic Eden Wallet, having 300,000 monthly active addresses. Furthermore, Magic Eden is not only the number one DEX in the Bitcoin ecosystem, with Rune and Inscription transaction volume share exceeding 80%, but also the top NFT platform in terms of revenue and user share in the NFT ecosystem (revenue share at 60% and user share at 29%). Magic Eden Data Tokenomics According to official information, Magic Eden's native token ME has a total supply of 1 billion tokens, with token distribution scheduled to occur over 4 years, more than half of which will be allocated to the community. The specific distribution is as follows: · Initial Token Airdrop: 12.5% of the total supply, or 12.5 million tokens, will reward users of the Bitcoin, Solana, and EVM ecosystems. This portion will be fully unlocked at TGE and distributed to users through Magic Eden's mobile dApp, with any unclaimed amount returned as part of community distribution to ME participants for future rewards; · Community & Ecosystem: 37.7% of the total supply, or 37.7 million tokens, of which 22.5% of the total supply will be used to reward active ME protocol users primarily through reward programs. The remaining 15.2% of the total supply will be used for ecosystem development, including enthusiastic advocates and creators hoping to develop and support the protocol; · Contributors: 26.2 million tokens, accounting for 26.2% of the total token supply, this portion will be allocated to project contractors, advisors, and company employees, with over 60% of this portion having their tokens locked for a minimum of 18 months post TGE and then linearly unlocked thereafter; · Strategic Partners: 23.6 million tokens, accounting for 23.6% of the total token supply, this portion is allocated to all strategic partners who provided key guidance during the ME Foundation protocol formation process, and this portion will have their tokens locked for a minimum of 12 months post TGE and then linearly unlocked. ME Tokenomics According to the token release schedule, ME will be fully distributed over 4 years, at which point all ME tokens will be in circulation, with the majority allocated to the community. ME Token Release Schedule Additionally, to ensure the community and protocol are protected from security issues, Magic Eden will appoint a Security Council consisting of 5 members responsible for overseeing multi-signature wallets, this council will have the authority to both execute emergency actions and delayed non-emergency actions. About Diamond and Token Exchange Speculation While 12.5% of the ME token, which is a significant portion of the total supply, is used for this airdrop, the "ME enthusiasts" are more concerned about the exchange rate between the diamonds they have collected and the tokens. The total supply of diamonds is 17 billion, and if the diamonds are fully in circulation, the exchange rate would be 136:1. According to feedback from the official Discord channel administrators, the total number of diamonds collected by users across the network currently falls short of the 17 billion diamond target. Therefore, many users speculate that the exchange rate between diamonds and tokens may be close to 100:1. This means an account with 10,000 diamond points can exchange for approximately 100 ME tokens. Based on an over-the-counter trading price of $2.5, the airdrop is valued at around $250. Response from Diamond Total by Channel Administrators in Official Discord Preparation Before Token Claim As the Magic Eden tokenomics model has been announced, the date for the token airdrop is also approaching. In order for the "rug pullers" to successfully claim the token as soon as possible, Odaily Planet Daily has compiled the following key points based on official information: · Before the TGE, users can use the eligibility checker to see which wallets qualify, and users can also connect their wallets at this time, similar to the TestME application process (for reference, the TestME application process can be found in this article: Magic Eden is about to open TestME airdrop registration, taking you through the process in advance); · On the TGE day and beyond, there will be a claiming period where eligible users can claim and stake ME tokens; Therefore, similar to the test token claim process, during the official token claim, users will need to download and install the Magic Eden official wallet on their mobile phones. It is worth mentioning that the TestME token claimed by Magic Eden earlier had no monetary value and through participation, users could ensure that their wallets were correctly linked and prepared to receive the official ME token claim, but there were over 250,000 wallets claimed in the first instance. Furthermore, 37.7% of the ME tokenomics model's allocation is reserved for the community, and this portion of the tokens is likely to be used for future Magic Eden point farming activities or airdrop rewards. Therefore, even if you miss this airdrop, everyone still has the opportunity to prepare in advance for the token airdrop event of Magic Eden Season 2, and let us look forward to the listing performance of ME, the token of Magic Eden, the most active NFT trading platform in the current NFT market. Summary Currently, Magic Eden is the largest NFT platform in terms of revenue and user share, surpassing Blur and OpenSea (which will launch v2 in December). While unveiling its tokenomics model at this time and planning to release the token in the next few weeks, as well as the potential second-season points farming "rug token" activity that is likely to attract a lot of user attention in a short time, it is difficult to sustainably inject attention and liquidity into the NFT sector amidst the current "rush to meme coins" environment. If Magic Eden wants to reignite the NFT market through token issuance and ongoing token reward activities, it is undoubtedly a challenging goal. Currently, the market's attention to NFTs has significantly declined, and even within the community, the term NFT has become more of a mockery, with user interest cooling off. As Blur, the "NFT market token issuance pioneer," once sparked a discussion, whether the over-financialization sounded the death knell of NFTs, and whether not embracing financialization is also a slow death. Perhaps, whether the NFT industry can rise again is not just a question for NFT trading platforms to ponder. Original Article Link
Magic Eden announces token economics, 50.2% of the tokens will be distributed to the community
Magic Eden announced its ME token economics, with a total of 1 billion ME tokens to be distributed over four years, 50.2% of which will be allocated to the community. The community and ecosystem together account for 37.7%, with the initial distribution to the community accounting for 12.5% of the total supply. In addition, contributors make up 26.2%, strategic participants account for 23.6%, all including lock-up periods. Magic Eden stated that it is about to launch an airdrop check website, but has not yet specified a specific date.
Magic Eden Expands to Sei
It’s adding support for the Sei Network , so users will soon be able to buy, sell, and trade all their favorite Sei NFTs in one place. Magic Eden is like a big online store for NFTs. NFTs, or non-fungible tokens, are special digital items that can be artwork, game items, or collectibles. Magic Eden is one of the most popular places to trade NFTs, with lots of options and tools to make buying and selling easy. What’s Special About the Sei Network? Sei Network is a blockchain, which is a system that keeps track of all digital transactions. Think of it as a public record that everyone can trust. Sei Network is fast, secure, and affordable, which makes it a great choice for trading NFTs . By expanding to Sei Network, Magic Eden will allow more users to enjoy quicker trades and lower costs. This expansion means you’ll soon be able to trade Sei NFTs on Magic Eden’s platform without jumping between different sites or wallets. Sei Network brings speed and low costs, while Magic Eden brings the convenience of a top NFT marketplace. Wen @SeiNetwork ? 🔴 You’ll soon be able to seamlessly trade all of your favorite Sei NFTs all in one place, only on Magic Eden. All of the best chains, all in one place. pic.twitter.com/Rzqf3S2qob — Magic Eden 🪄 (@MagicEden) November 7, 2024 For collectors, this means you can build your NFT collection more easily. Whether you’re hunting for rare digital art or trading unique game items, you’ll have a wider selection right at your fingertips. More About MagicEden Magic Eden is set to reveal the details of its new ME token’s tokenomics on November 18th. Tokenomics will explain how the ME token is structured. This includes information about its supply, distribution, and possible uses on the Magic Eden platform. Tokenomics for $ME will be published on 11/18. Cheers. pic.twitter.com/fMQzhKlfvE — $ME (@MEFndn) November 7, 2024 This announcement will give users a clear view of the ME token’s role in Magic Eden’s ecosystem. This will help the community understand how they can use it and what value it may offer to NFT traders and collectors. Disclaimer The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.
The Magic Eden team is building a cross-chain exchange tool
According to official community news, the Magic Eden team is building an exchange tool that spans all chains and assets, and will introduce features such as Rune exchange, Ordinals watchlist, and RBF for the BTC ecosystem. In addition, the Magic Eden mobile wallet has been revamped, with more information expected to be announced this month.
Magic Eden test coins TestME is now open for collection!
TestME, the test token released by Magic Eden, is now available for collection.
Magic Eden: ME test coins may be up for claim on 29 October
Magic Eden said in a post on the X platform, ‘TestME (ME Test Coin), see you on the 29th of October,’ meaning that the ME Test Coin may be launched on the 29th of October. Previously, Magic Eden announced in its official Telegram community that it will launch the ME Test Coin (TestME) application at the end of this month, followed by the announcement of the token economics and the official ME token application. In the future, Magic Eden will also integrate ME to reward the platform's longest continuous users. Additionally, Magic Eden says it expects to support 15 chains by the end of the year; on the Bitcoin ecosystem front, Rune Swaps, Mempool protection and watchlists are coming soon, and on the Solana front, the team will be stepping up with a new focus on Solana tokens, as well as an improved app experience.
Magic Eden Co-Creator: Rune Transactions Will Be Retroactively Rewarded
On October 18th, Magic Eden Co-Creator and CEO Jack Lu posted on the X platform that it is fully committed to building and contributing to the BTC ecosystem. The next steps include: RBF: no more sniping of trades; Runes swap: a two-way swap between BTC and Runes; Rune Rewards: Runes will be retroactively counted in the rewards system, though there may not be time to send diamonds as there is a need to focus on building the token claiming program.
Magic Eden, the largest NFT and inscription trading platform on the entire network, launches the $ME token and adopts the Solana SPL standard to promote ecological expansion
On September 21st, Magic Eden Foundation officially announced that its token $ME will adopt the SPL token standard of the Solana network, hoping to introduce cross-chain users into the Solana ecosystem. As the largest NFT, inscription, and rune trading website on the entire network, Magic Eden's ecosystem continues to expand, surpassing the NFT market and covering a wider range of decentralized application scenarios. Previously, Magic Eden Foundation announced the upcoming launch of a token named ME (previously tentatively named "NFT") and plans to publish the token through Magic Eden Wallet.
Magic Eden: 50% extra diamond bonus on NFT or Ordinals purchases with ME Wallet Mobile!
Magic Eden said in a post on the X platform that users can now earn an additional 50% Diamond Bonus when purchasing NFTs or Ordinals with the ME Wallet mobile app at Magic Eden.
CoinGecko Report: Magic Eden's trading volume exceeded $120 million in August
September 10 news, according to CoinGecko report, Magic Eden's trading volume reached $122.47 million in August, ranking first with a market share of 36.7%. Blur's market share dropped from 35.4% at the beginning of the year to 25.4% last month, ranking second with an August trading volume reduced to $84.69 million. OpenSea had a market share of 19.9%, ranked third with an August trading volume of $66.52 million.
Multichain NFT Market Magic Eden Daily Volume Spikes to $60 Million
According to data from The Block, the multi-chain NFT marketplace Magic Eden has seen a spike in daily transaction volume, from $1 million to $30 million, with a recent peak of $60 million. The data also shows that Magic Eden accounts for 80 percent of all bitcoin ordinals and runes traded. The surge is said to coincide with Magic Eden's announcement of the upcoming launch of its utility token, ME, which is being developed by the ME Foundation, the details of which have yet to be disclosed.
Magic Eden announces the launch of a wallet mobile APP application on iOS and Android systems
Magic Eden announced on the X platform that it has launched a wallet mobile APP application on iOS and Android systems, and introduced a Mintfest prize pool worth $100,000.
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