The ME Foundation, the organization associated with the Magic Eden Non-Fungible Token platform, will officially launch the ME token on December 10, according to a representative of the organization who shared the information with Decrypt.
The ME Airdrop program could be worth over $500 million
The Airdrop program for the ME token is expected to have a total value exceeding $500 million, based on the current preliminary trading price. Users of Magic Eden, including the Bitcoin exchange and the multi-chain Non-Fungible Token platform, will benefit from this program. Notably, the ME token will only be received through the Magic Eden Wallet application.
Although information about the conversion of Magic Eden Diamonds - the current rewards program - to the ME token has not been announced, the ME Foundation representative stated that the token allocation will be based on factors such as "natural" trading volume, multi-chain transactions, and the "loyalty" level of users eligible for the platforms.
Users will be able to check if they are eligible to receive the Airdrop through a support tool expected to be released before December 10. The specific allocation amount will be announced on the token launch day.
When the token reception portal opens on December 10, approximately 12.5% of the total supply of 1 billion ME tokens (equivalent to 125 million tokens) will be unlocked for eligible users. Additionally, 22.5% of the supply (225 million tokens) will be allocated to incentivize the use of related protocols and platforms of the ME Foundation in the future.
