Magic Eden (ME) Token Details: Users to Receive $362M at Launch

Magic Eden, a cross-chain non-fungible token (NFT) and Bitcoin Ordinals/Runes platform is gearing up for the $ME token generation event (TGE) and one of the most valuable airdrops in crypto history.

What is Magic Eden?

Magic Eden is one of the most popular decentralized cross-platform NFT marketplaces. It’s also one of the top-ranked Bitcoin decentralized exchanges (DEX), having garnered an 80%+ share of Bitcoin Ordinals and Runes trading volumes. Since launching in Sept. 2021, Magic Eden has processed over $4.4 billion in trading volumes, servicing 2.33 million traders, according to DappRadar. The Magic Eden Foundation reports $6 billion in trading volumes.

Magic Eden aspires to become a decentralized application (dApp) for NFTs and cross-chain cryptocurrency trading. The launch of the ME token represents a significant step toward realizing ambition. The ME token will be the native token of the platform and will be leveraged for staking rewards, future airdrops, and governance voting rights.

ME Token Details

The ME TGE is set to be one of the most valuable airdrops in crypto history. Over half of the token’s 1 billion supply will be distributed over four years to the community. With pre-market tokens valued at $2.9, the initial 12.5% airdrop of 125 million tokens is worth a gigantic $362.5 million.

The highly anticipated TGE is expected to take place in a few weeks. Prior to the TGE, a full release schedule, including compatible wallets, is expected to be released.

The claim rewards will be spread across the Bitcoin, Solana, and Ethereum Virtual Machine (EVM) ecosystems, fully unlocked, and distributed to users via the Magic Eden mobile dApp. Any unclaimed tokens will be returned to the community allocation for staking rewards.