Magic Eden announces tokenomics, airdrops 12.5% ME for users

Magic Eden announces tokenomics, allocating 12.5% of ME for airdropping to users. These tokens will be unlocked at the time of TGE.

Magic Eden announces tokenomics, airdrops 12.5% ME for users

In August 2024, NFT marketplace Magic Eden announced the ME ecosystem token. So far, detailed information about the allocation and airdrop of ME has just been disclosed by the project.

Specifically, with a total supply of 1 billion tokens, ME will be distributed over 4 years, with more than half going to the community.

- TGE: Airdrop 12.5% of total supply

Token TGE is used to reward users across the Bitcoin, Solana, and EVM ecosystems. This allocation will be fully unlocked at the time of TGE and distributed to users through the Magic Eden mobile dApp.

Then, if there are tokens without recipients, the tokens will be sent back to the ME stakers as staking rewards, a portion of the allocation for the Community.

- Community and ecosystem: 37.7%

The majority (22.5%) is allocated as rewards for active users participating in the ME protocol, primarily distributed through Magic Eden’s reward program.

The remaining 15.2% is allocated for ecosystem development in the form of grants. In addition, 5% of this amount will be allocated to the treasury of the ME Foundation to support the protocol, including funds for liquidity provision

- Contributors: 26.2%

This allocation is intended for contractors and advisors who have supported the protocol, along with the staff of Magic Eden team.

More than 60% will be locked in a minimum of 18 months after TGE.

- Strategic Investors: 23.6%

All participants in the strategy have provided important guidance in the development of ME Foundation’s protocols, which will have a minimum lock-up period of 12 months after TGE and follow a gradually unlocking vesting schedule.

To ensure the community and the protocol are protected from security issues, a Security Council consisting of 5 members will be appointed to oversee the multi-signature wallet, monitor and take prompt action in case of unexpected incidents.

In this way, the community will receive an airdrop of tokens equivalent to 12.5% of the total ME supply at the time of TGE. These tokens will be unlocked immediately for the owners.

The project also notes that there will be a link for everyone to link their wallet, check if their wallet is eligible for the airdrop or not.

Magic Eden only reveals that the TGE is approaching, but has not yet announced the specific date and time.

12.5% airdrop may not be a big number, but it’s not too stingy either. Evidence shows that compared to similar projects or segments such as Parcl (PRCL) 8%, DeBridge (DBR) 10%, Jito (JTO) 10%, Jupiter (JUP) 10%, Tensor (TNSR) 12.5%, Sanctum 10%.

Of course, % airdrop does not tell everything, but also needs to consider the token value at the time of trading.

For example, although Hamster Kombat airdrops 60% of tokens, it receives countless inquiries after the airdrop, because each player actually only receives a few dollars for half a year of hard work.

The community feels like they are “being deceived”, the project is not being taken seriously, and the result is Hamster Kombat losing 260 million players in just 3 months.

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