ME Tokenomics: ME Foundation Announces Details for Upcoming Airdrop
ME Foundation has revealed the details for the upcoming ME token airdrop, which will reward users of Magic Eden’s Bitcoin exchange and cross-chain NFT platform. The community is set to collectively receive 12.5% of the total ME supply of 1 billion Solana-based tokens, currently estimated at $312 million.
The pre-market price of $2.50 represents a 233% gain in the last 24 hours, making ME one of the top 20 crypto airdrops of all time according to CoinGecko. Magic Eden users are in for one of the largest community airdrops of 2024, with the token generation event expected in a few weeks.
The ME Foundation has allocated an additional 225 million ME tokens for future airdrops to active users of Magic Eden’s products. CEO Jack Lu announced that users will be able to earn ME through their daily use of Magic Eden products.
While traders are excited about the token reveal, there is still uncertainty surrounding how Magic Eden will convert the platform’s rewards system, Diamonds, into the ME token. Users are eagerly awaiting more information on this conversion process.
Magic Eden has become a leading on-chain marketplace, processing over $1.12 billion in trading volume over the last six months across multiple blockchains. The platform continues to grow and expand its offerings, solidifying its position in the crypto space.
In conclusion, the ME token airdrop is set to be a significant event for the Magic Eden community, providing users with a valuable reward for their participation. Stay tuned for more updates on the ME token and how it will impact the crypto ecosystem.
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