# ME Foundation Unveils $ME Tokenomics, Kicking Off Community-Driven Ecosystem
ME Foundation has announced the tokenomics for its $ME token on the 18th, aiming to reward users and drive a community-led economy within the MagicEden ecosystem.
$ME is a Solana blockchain-based token designed to support the growth of the MagicEden platform’s user base and community. A total of 1 billion $ME tokens will be issued, with gradual distribution over four years.
# Token Distribution and Community Reinvestment
At the initial Token Generation Event (TGE), an initial 12.5% of the $ME tokens will be airdropped to users of the Bitcoin (BTC), Solana (SOL), and EVM ecosystems within MagicEden. Users can claim their tokens via the MagicEden mobile app. Any unclaimed tokens from this process will be reallocated to the community and used for future ME staking rewards.
Post-TGE, the token distribution will be as follows:
– Community and Ecosystem: 37.7%
– Contributors: 26.2%
– Strategic Participants: 23.6%
For contributors and strategic participants, tokens will be subject to a lock-up period of 12 months and 18 months, respectively, followed by gradual distribution to ensure ecosystem stability. The detailed tokenomics are as follows:
### Community and Ecosystem (37.7%)
– 22.5%: Allocated to protocol users via MagicEden’s reward program.
– 15.2%: Support for ecosystem development, provided to developers and creators under long-term agreements aimed at ensuring the protocol’s long-term success.
### Contributors (26.2%)
– Allocated to core contributors and external collaborators, with over 60% locked for at least 18 months post-TGE.
### Strategic Participants (23.6%)
– Distributed to investors and partners contributing to the MagicEden ecosystem’s growth, with a minimum lock-up of 12 months followed by gradual release.
# Launch of Staking and On-Chain Rewards Program
The ME Foundation is set to roll out a staking program and rewards scheme for transactions conducted within the MagicEden platform. Users can earn $ME by trading NFTs and tokens or through staking on the platform. This encompassing on-chain reward program aims to incentivize user participation across multiple chains.
Additionally, MagicEden plans to establish a security committee to oversee the ME ecosystem’s security and community-led governance. The committee will consist of five members utilizing multi-signature wallets to safeguard the protocol and community.
$ME holders will have governance rights, enabling them to participate in the community-centric development direction of the protocol. The MagicEden Foundation plans to strengthen this governance through internal policies.
Prior to TGE, users can verify their eligibility for ME claims and link their wallets via the MagicEden website. Users who participated in last month’s test distribution of ‘TestME’ tokens can claim their $ME without additional steps.
The announcement of tokenomics has spurred significant interest in $ME tokens, with pre-trading prices on the decentralized OTC exchange Whales Market surging from $0.4 to $2.5 over ten days, representing a more than 500% increase.
# MagicEden Leads Multi-Chain Trading Ecosystem with $ME Token Integration
MagicEden is currently leading the on-chain ecosystem with a more than 80% market share in the Bitcoin DEX sector, 60% in NFT ecosystem revenue, and 29% in NFT market user share.
The platform is building a mobile-friendly environment allowing users to seamlessly trade digital assets across multiple chains. This unified service will enable users to trade tokens and NFTs without the hassle of navigating different blockchain networks such as Bitcoin, Solana, and Ethereum-based (EVM) chains.
The introduction of the $ME token by the MagicEden Foundation is poised to be a turning point in stimulating on-chain economic activity. The community-centric framework and lock-up based stability are set to foster a sustainable on-chain trading environment.
