Wu said that the NFT trading market Magic Eden Foundation announced the token ME tokenomics model, with a total supply of 1 billion ME tokens, of which more than half will be allocated to the community. At TGE: 12.5% of ME will be used for the first airdrop distribution (fully unlocked at TGE); 37.7% is allocated to the community and ecosystem; 26.2% is allocated to contributors; 23.6% is allocated to strategic participants. ME will be distributed over 4 years, by which time all ME will be fully circulating, with the majority allocated to the community. To ensure the community and protocol are protected from security issues, a security committee consisting of 5 members will be appointed to oversee a multi-signature wallet that can execute urgent and delayed non-urgent actions. The ME Foundation will serve as the administrator of ME. ME holders can earn further rewards from staking.

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