Original title: (Detailed explanation of Magic Eden (ME) airdrop rules, claiming steps, and future plans)
Original author: CryptoLeo, Odaily Planet Daily
At 3 AM Beijing time on December 5, the Magic Eden Foundation launched the ME token airdrop query page. Previously, Magic Eden released the ME token economics, with a total token supply of 1 billion, of which 12.5% (125 million tokens) will be unlocked immediately and provided to eligible Magic Eden users for airdrop, and an additional 22.5% of the supply (i.e., 225 million ME tokens) will be reserved to incentivize future users of ME Foundation-related protocols and platforms.
More detailed token economics can be referenced: (What preparations should be made before receiving the Magic Eden token TGE airdrop?)
Overall allocation principles
The ME token is designed to reward users who provide economic incentives on-chain with SOL, BTC, and EVM wallets, and will evaluate ME airdrop shares based on three main aspects: real users (referred to as organic users by Magic Eden), cross-chain activities, and loyalty.
Natural users can also be described as real users of Magic Eden. The natural usage of Magic Eden is a key part of ME distribution; the more the wallet address behavior is close to real users, the more likely they are to receive rewards, while addresses that are not natural transactions have been identified, meaning Magic Eden has filtered out some witch users.
Some users on the X platform have reported having many diamonds, but the ME token shares they received are relatively small, or they are classified as non-natural users.
The four main sections of the query page
As a multi-chain protocol covering both tokens and NFTs, and preparing to cover more than 15 chains by the end of the year, the difference in this airdrop query is that it allows users to connect multiple wallets, and the displayed ME is the total amount that multiple qualified wallets can claim.
The airdrop is divided into four sections, with the total airdrop token quantity calculated by adding each section together. The four sections are: one main section Rewards Tiers, and three secondary sections: Launchpad Bonus, Wallet Bonus, Active OG Bonus.
Rewards Tier main section
Rewards Tier is also the wallet's reward level and is the main criterion for evaluating ME airdrop shares. The Tier is related to the number of ME diamonds we mentioned, which is linked to the trading activities of the user's connected wallets, but if a user has multiple eligible wallets, they can connect all of them to the airdrop query interface, and their Rewards Tier will display the highest wallet level among all wallets.
The display level of the Tier is not related to the number of connected wallets; for example, if a user has multiple eligible wallets and conducts a small number of transactions on each wallet, that user can obtain a larger overall ME airdrop share, but their Rewards Tier will be lower; on the contrary, if a user only has a few eligible wallets, and each wallet has a large transaction volume, that user may have a higher Rewards Tier, but the ME share obtainable from the transaction volume of a few wallets may be lower than that from more wallets' total transaction volume. Of course, users who focus solely on one wallet address with excellent data across the board do not need to complicate things.
So far, the highest level I have seen is Tier 1, and the lowest level is Tier 14, but the ME Foundation distribution rules website has not clearly listed the relationship between the number of diamonds and the levels.
The data from the secondary sections will display the best data from all connected wallets. For example, if a user has three wallets, one with a lot of Launchpad activities, another with a lot of Wallet activities, and a third that has traded for a long time, the overall allocation will show the best statistics for each wallet.
Launchpad Bonus
The evaluation criteria for Launchpad Bonus are mainly divided into: High, Medium, Low, and - (representing zero). This section mainly includes minting and cross-chain minting of NFTs on the Magic Eden Launchpad. However, the use of the Launchpad is considered a secondary standard for the quantity of airdrop rewards; if a wallet has no diamond balance, participating in Launchpad activities alone will not qualify for ME airdrop shares.
Wallet Bonus
The evaluation criteria for Wallet Bonus are also four: High, Medium, Low, and - (representing zero), representing wallet activity, including but not limited to NFT cross-chain trading, cross-chain token swaps in Magic Eden Wallet, rune trading, and Lucky Buy. (Note: Lucky Buy is a new feature launched by Magic Eden in September, allowing buyers to purchase NFTs below market price. The adoption of this feature is based on a percentage system, determined by the system based on the percentage of the NFT price that the user wants to use and the probability of winning. Buyers can participate in bidding when purchasing NFTs; if successful, Magic Eden will cover the difference, and sellers will still receive the full price of their NFT. Even if the final purchase is unsuccessful, NFT buyers can also receive 'diamond' incentives, which is one way to accumulate Magic Eden diamonds.)
Wallet activity is also a secondary standard for the quantity of airdrop rewards; if a wallet has no trading balance, it cannot qualify for ME airdrop shares based solely on wallet usage.
Active OG Bonus
Active OG Bonus represents user loyalty, and the evaluation criteria are: Yes and No. Active OG Bonus represents addresses that were among the first to use the protocol and have continued to do so frequently until now. This means that if a user is an early user but their address has not been used for a long time, it will not be classified as Active OG Bonus.
The early evaluation criteria for OG can refer to the MagicTicket. Magic Eden published a tweet in February 2022 stating that Magic Eden conducted the MagicTicket airdrop (total of 30,602 pieces) based on its inception date (September 17, 2021) to give back to the Solana NFT ecosystem, specifically as follows:
Users who conduct their first transaction within one month of its inception will receive OG Ticket (6,348 pieces);
Users who conduct their first transaction between mid-October and mid-December 2022 will receive Degen Ticket (7,162 pieces);
Users who conduct their first transaction after December 2022 will receive Normie Ticket (17,092 pieces).
MagicTicket holders receive three types of benefits: community governance, rewards, and social. For example, they can create proposals, vote, and also gain more points (diamonds), whitelist spots, and airdrops.
Airdrop query tutorial
The airdrop query is divided into three steps:
-Download the ME wallet application on your phone, and then import the Magic Eden wallet using the mnemonic phrase. Previously, Magic Eden launched the ME test coin claiming process as a reference: (Magic Eden is about to open testME airdrop claiming, bringing you familiar with the process in advance);
-Click on the app's scan function to scan the QR code of ME Foundation and log in randomly on your phone;
-After logging in, as mentioned earlier, users should connect as many wallets that have traded on Magic Eden with BTC, ETH, SOL, etc. as possible; the more qualified wallets added, the better.
After the connection is completed, you can see your allocation amount on the query interface.
Conclusion
The ME claiming is set for December 10. Jack Lu, co-founder and CEO of Magic Eden, previously listed some key points for the ecosystem and community building after the launch of ME:
-Magic Eden will become the gateway for everyone to enter the cryptocurrency field, trading all on-chain assets;
-Magic Eden is incorporating ME into its rewards program;
-Implement all chains, all assets, and all community strategies to build a strong cross-crypto chain maxis community.
Currently, the price of ME in pre-market trading on OKX fluctuates between 3.5 USDT and 4 USDT, while Coinbase International also announced on November 20 that it will launch ME perpetual contracts on its Pre-Launch market to show support for Magic Eden, perhaps we can expect a firsthand 'Coinbase will include ME in the token listing roadmap'.
In addition, with the recent revival of old altcoins and the continuous rise of new coins, yesterday the NFT sector tokens also saw good gains, among which APENFT (NFT) rose by 38.94%, SuperVerse (SUPER) rose by 21.62%, Apecoin (APE) rose by 18.85%, and Blur (BLUR) rose by 6.84%. It seems that the market is rotating, and people are not only focused on Meme PvP; other sectors are also gradually warming up.
After ME goes live, we cannot expect Magic Eden to bring some life back to NFTs, but perhaps we can believe that ME, dedicated to 'all chains, all assets', will see good growth in the future.
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