Magic Eden Airdrop Launch Date: What Will be ME Token Price?

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As a seasoned crypto investor with a knack for spotting promising projects and a keen eye for potential airdrops, I must say that the upcoming Magic Eden airdrop has piqued my interest. With its cross-platform NFT marketplace and decentralized exchange, Magic Eden has been making waves in the crypto community, and the ME token is no exception.

In the ongoing bullish phase of the cryptocurrency market, a well-known exchange has revealed an anticipated event – the Magic Eden airdrop. Known for its wide appeal among crypto enthusiasts as a cross-functional NFT marketplace and Bitcoin decentralized exchange, Magic Eden is now creating excitement among investors due to the eagerly awaited ME token generation event and airdrop.

The exchange recently confirmed its plans for the ME airdrop, revealing the possible timeline and allocation criteria. However, amid this announcement, the exchange has also received some criticism for its new reward program.

Magic Eden Airdrop Launch Date and Key Features Revealed

According to the ME Foundation blog and various sources, Magic Eden’s airdrop is scheduled for the coming weeks, but the specific date has yet to be revealed. The airdrop will distribute a total of 1 Billion ME tokens, with the crypto community receiving 12.5% or 125 million tokens initially. Over four years, the community and ecosystem will collectively receive 50.2% or 502 million ME tokens (including the initial 12.5% airdrop and additional portions for the community and ecosystem). This news is generating excitement among users due to the potential rewards involved.

The allocation outlines that 26.2% (equivalent to 262 million ME) is earmarked for contributors, while 37.7% (377 million ME) is designated for the community and ecosystem, and a further 236 million ME is set aside for strategic participants.

Category Allocation
Total Token Supply 1,000,000,000 ME
Initial Airdrop 125,000,000 ME (12.5%)
Community & Ecosystem 377,000,000 ME (37.7%)
Contributors 262,000,000 ME (26.2%)
Strategic Participants 236,000,000 (23.6%)

 

The distribution of tokens will take place through Magic Eden’s mobile application, which has streamlined the process. Users who are involved with Bitcoin, Solana, and Ethereum will receive their allocated ME tokens at the Token Generation Event (TGE). Additionally, the team is planning to unveil the eligibility checker a bit ahead of schedule to disclose the allocations earlier.

So far, the airdrops from X Empire and HMSTR have been the largest, but unfortunately, they fell short of expectations because of sudden adjustments in distribution at the last minute. Now, we’re eager to see how the Magic Eden team will manage their upcoming airdrop event.

Magic Eden Reward Feature

“The upcoming Magic Eden airdrop is set to be one of the largest crypto giveaways in November. Moreover, since the exchange has chosen ME as its native token, it will serve as a reward for users moving forward. The CEO and co-founder, Jack Lu, announced this on Twitter, stating that with this token adoption, users can expect an increasing trend towards on-chain trading.

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By embracing $ME, Magic Eden and its user base are uniting together to propel forward a common objective: expediting the widespread use of on-chain transactions.

We’re introducing user-focused updates that recognize long-term contributors. In the near future, you’ll have opportunities to accumulate $ME tokens by participating regularly in…

— Jack Lu (@0xLeoInRio) November 18, 2024

What’s significant is that they are unveiling a loyalty program, under which users can accumulate tokens simply by interacting with the Magic Eden platform. This program also offers ME rewards for those who stake and contribute to the Magic Eden ecosystem. Additionally, users will be granted some decision-making authority in terms of future protocol advancements, as they’ll have governance rights.

Users are eager to learn more about the conversion of their currently active Diamond rewards into ME tokens in the future. However, these inquiries have gone unanswered by the team, causing some concern among users who have accumulated Diamonds over a number of years.

What Will Be ME Token Price?

Currently, the price stands at $2.12 following a 14.5% decrease over the past 24 hours. This token is currently unlisted and had been performing well until now. However, its trading volume has significantly dropped by 87%, standing at approximately $21,413.1. Notably, the community will receive tokens worth around $265 million through the Magic Eden airdrop.

Despite its recent decrease, the token has shown greater values previously. Taking this into account and the increasing demand for the decentralized exchange, users expect it to reach $3-$4 in the near future. Consequently, due to the upcoming Magic Eden airdrop, the token is likely to hold a higher value.

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2024-11-20 16:54