With $ME, users can earn rewards, stake their tokens for more benefits, and even help guide the future of the ecosystem through governance.
It’s like hitting the jackpot for active participants in the Magic Eden platform. Let’s explore more about the $ME Tokenomics.
What Is $ME?
$ME is an SPL token , but it’s not limited to one ecosystem. Whether you’re on Solana, Bitcoin, or EVM chains, $ME is designed to work across all of them. Users can stake, trade, and earn $ME by trading NFTs and tokens on multiple blockchains.
The token will debut through Magic Eden’s rewards program. This program encourages users to trade more assets, making the blockchain community grow faster than ever.
ME Foundation is excited to share the tokenomics for $ME .
This tokenomics post covers the following:
– The next phase era of innovation in crypto is all onchain. $ME has been adopted by Magic Eden, the top multi-chain, multi-asset onchain trading platform– Magic Eden is the #1…
— $ME (@MEFndn) November 18, 2024
How Does It Work?
The total supply of $ME is 1 billion tokens, which will be distributed over four years. Most of these tokens—over half—will go to the community to keep things fair and square. Here’s the breakdown:
- Initial Claim (12.5%): At the Token Generation Event (TGE), users across Solana, Bitcoin, and EVM ecosystems can claim $ME through Magic Eden’s mobile app. This first batch will be fully unlocked right away.
- Community & Ecosystem (37.7%): A major portion of these tokens is reserved for rewarding active users through Magic Eden’s rewards program. Some will also go toward developing the $ME ecosystem.
- Contributors (26.2%): This includes contractors, advisors, and Magic Eden employees. The team will lock more than 60% of these tokens for at least 18 months to show long-term commitment.
- Strategic Participants (23.6%): These are key partners who helped build the ME protocols. The team will lock their tokens for 12 months after TGE and release them gradually.
$ME TOKENOMICS
The $ME tokenomics are designed to align the community and team to ensure the long-term growth of the $ME ecosystem.First, a few facts at a glance:
– Total supply: 1 billion $ME
– The token distributions will be emitted over 4 years, with over half going to the… pic.twitter.com/5STh6fEWQJ
— $ME (@MEFndn) November 18, 2024
What’s Next?
The team will share more details about $ME after the TGE, but one thing’s for sure: $ME is ready to make waves. With staking , trading, and governance options, it’s the whole package. A strong rewards system on Magic Eden backs it, giving users plenty of reasons to stay engaged.
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.
