Magic Eden announces ME token economic model: total supply of 1 billion, 12.5% for initial airdrop

The Magic Eden Foundation has announced the token economic model for the ME token. The total supply of ME tokens is 1 billion, and the token distribution will be released over 4 years, with more than half allocated to the community. The initial ME airdrop at TGE (Token Generation Event) will account for 12.5% and will be fully unlocked at TGE; the community and ecosystem allocation is 37.7%; the contributors' allocation is 26.2%; and the strategic participants' allocation is 23.6%. To ensure the security of the community and the protocol, a 5-member security committee will be appointed to oversee a multi-signature wallet that can execute emergency and non-emergency actions. This information will be outlined in the ME DAO charter after the TGE. The ME Foundation will serve as the administrator of ME.