Magic Eden is the widely acclaimed cross-NFT platform and decentralized exchange that trades Bitcoins. It is available on multiple chains such as Solana, Ethereum, Bitcoin, and Polygon. The token launch event and the subsequent airdrop of the Magic Eden platform will happen soon. In a recent post on X, the Magic Eden platform has announced an upcoming airdrop, even though the exact date is still unknown. However, we can expect it to happen in the coming weeks.
Magic Eden has an innovative tokenomics that is designed to incentivize early investors and supporters of the dedicated community. In this article, you will read about the Magic Eden airdrop and other details related to the platform.
Magic Eden Tokenomics
The tokenomics of Magic Eden is planned in such a way that you get a significant sum in the initial airdrop itself. This is helpful as you can join the Magic Eden platform at its early stage and take part in its governance activities.
The total supply of Magic Eden tokens is 1,000,000,000. This token supply is distributed in the following manner:
- 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%)
How To Participate In Magic Eden Airdrop?
Here are the step-by-step procedures you should follow to easily claim your share of the Magic Eden airdrop.
- Select a suitable cryptocurrency wallet and connect it to the Magic Eden platform.
- Fill the wallet with SOL, ETH, or BTC tokens to be used as a base currency to purchase NFTs from the Magic Eden platform.
- Now purchase NFTs from the Magic Eden platform so that you can earn diamonds as points.
- To increase your diamond earnings, make collection offers on the Magic Eden platform.
- Trade the assets you have acquired on various chains such as Solana, Ethereum, Bitcoin, and Polygon to get ME tokens.
- Increase your NFT activity on the Magic Eden wallet to earn a 30% boost on your diamond earnings.
- Keep a regular check on Magic Eden’s social media handles to know about the latest updates.
Magic Eden Reward System
The Magic Eden platform has brought out a long-term rewards system for its followers. This cross-chain rewards program can be accessed on multiple blockchains, such as Solana, Ethereum, Bitcoin, and Polygon. The rewards program incentivizes everyone who contributes to the NFT trading on the Magic Eden platform. The rewards are called diamonds.
Here are the steps to be followed for earning rewards from the Magic Eden Reward Program.
- Visit the Rewards page of the Magic Eden platform.
- Pledge your loyalty to the platform by moving all your NFT listings to the Magic Eden Platform and completing your buying and listing activities.
- You can also get rewards for your casual collecting activities such as buying native listings on Magic Eden and accepting offers.
- You can also earn loyalty rewards for using the Magic Eden platform through staking.
These rewards are seminal in deciding your share of the upcoming Magic Eden airdrop. Moreover, you also get governance rights on the Magic Eden platform to make major governance decisions to determine the future of the Magic Eden protocol.
Expected Price Of Magic Eden (ME) Tokens
The current price of ME tokens is $2.12. The token is showing good performance even in the pre-listing stage. The current price is 14.5% lower than the price 24 hours ago. The trading volume of ME tokens has also declined to reach $21,413.10. Even though there is a slight drop in the price and volume of ME tokens, this is temporary, and the price of the token is expected to gain in the future given its unique tokenomics and wide utility.
The Bottom Line
The Magic Eden airdrop will happen any time soon. You must beef up your engagement with the platform and earn as many reward points as you can to get a fair share of the ME tokens. By participating in the airdrop, you can also take part in the early-stage governance activities of the platform. Avail of this opportunity to gain maximum benefits from the Magic Eden platform.
