Magic Eden's $ME Token Drop Is Tomorrow! Here's The Tokenomics & How You Can Ape In:

Christmas is coming early to the Web3 world as cross-chain NFT marketplace Magic Eden gets ready to launch its highly anticipated $ME token, featuring an airdrop for everyone who's been trading illiquid J-Pegs over the years!

NFT traders, art enthusiasts, and community members are taking some $ME time this evening to "lock tf in" and prepare for Magic Eden’s Token Generation Event and claim tomorrow!

 

 

As the Bored Ape Gazette previously reported, Magic Eden’s $ME token allocation checker went live on December 4th. Everyone around the swamp—and the broader Web3 world—is invited to download the Magic Eden app, connect their wallets, and find out how many $ME tokens they’ll be receiving.

To help users set up their Magic Eden accounts, WaleSwoosh shared a 12-part explainer thread. Check it out below:

Magic Eden recommends that everyone link their wallets through the marketplace’s app before the TGE begins tomorrow at 9 A.M. EST.

 

“Please make sure you link all your wallets before TGE (on December 10) in order to have a seamless mobile claim experience on the day of TGE,” Magic Eden wrote in a December 4th Blog post. “Once all your wallets are linked, on TGE day all you will need to do is scan a QR code and complete the claim in Magic Eden’s mobile app.”

In total, there will be 1 billion $ME tokens, with 12.5% of the supply set to be dropped to the community during tomorrow’s initial claim.

26.2% of $ME will go to contributors, 23.6% will go to strategic participants, and 37.7% will go to Community & Ecosystem, according to Magic Eden’s Tokenomics article from November.

“The token distributions will be emitted over 4 years, with over half going to the community," Magic Eden wrote at the time. “$ME will be distributed over 4 years, at which point all $ME will be fully circulating with the majority allocated to the community…On day of TGE and beyond, there will be a claim period during which eligible users can claim and stake their $ME tokens. The $ME TGE will mark the beginning of a community-run initiative to accelerate the onchain economy.”

 

Take a look at the tokenomics breakdown and emission schedule below:

“Magic Eden stands for all chains, all assets, all communities. Fueled by $ME, for the first time users across major ecosystems like SOL, BTC and EVM will come together as one community,” Magic Eden CEO Jack Lu tweeted this evening. “New users coming on chain value convenience, simplicity and trust. They want to go to a place where they can see everything, trade everything. Magic Eden will work towards that vision. Our community will be a place where anyone can explore different chains and different communities. No tribalists tearing each other down here, let’s win together.”

 

The Bored Ape Gazette will continue to monitor tomorrow’s $ME claim and report on its impact on the broader NFT market. Stay tuned for updates!