Magic Eden (ME) airdrop is coming, detailed explanation of airdrop rules, claiming steps, and future plans
The total supply of ME tokens is 1 billion, of which 12.5% (125 million tokens) will be immediately unlocked and provided to eligible Magic Eden users as an airdrop.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 supply of 1 billion tokens, of which 12.5% (125 million tokens) will be immediately unlocked and provided to eligible Magic Eden users as an airdrop. Additionally, 22.5% of the supply (i.e., 225 million ME tokens) will be reserved to incentivize users who engage with the ME Foundation's related protocols and platforms in the future.
Overall Distribution Principles
The ME token is designed to reward users who provide economic incentives on-chain through SOL, BTC, and EVM wallets. The ME airdrop shares will be assessed based on three main aspects: real users (referred to as organic users by Magic Eden), cross-chain activities, and loyalty.
Organic users can be described as the real users of Magic Eden. The natural usage of Magic Eden is a key part of the ME distribution, and the more wallet address transaction behaviors resemble real users, the more likely they are to receive rewards. Conversely, addresses identified as non-organic transactions have already been filtered out, indicating that Magic Eden has screened out some "witch" users.
Some users on the X platform have reported having a lot of diamonds but receiving relatively few ME token shares, or being classified as non-organic users.
Four Main Sections of the Query Page
As a multi-chain protocol covering both tokens and NFTs, Magic Eden is preparing to cover 15+ chains by the end of the year. This makes the airdrop query different in that it allows users to connect multiple wallets, and the displayed ME is the total amount that can be claimed from multiple eligible wallets.
The airdrop is divided into four sections, with the total airdrop token quantity calculated by summing the four sections. The four sections are: one main section, Rewards Tiers, and three secondary sections: Launchpad Bonus, Wallet Bonus, and Active OG Bonus.
Rewards Tier Main Section
The Rewards Tier is the wallet's reward level and is the main criterion for assessing ME airdrop shares. The Tier is related to the number of ME diamonds mentioned, which is linked to the transaction activities of the user's connected wallets. However, 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 connected 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 each wallet has a small number of transactions, that user can obtain a larger overall ME airdrop share, but their Rewards Tier may be lower. Conversely, if a user has only 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 the total transaction volume of more wallets. 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 is Tier 14, but the ME Foundation's distribution rules website has not clearly listed the correlation between the number of diamonds and the levels.
The data from the secondary sections will display the best statistics 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 been trading for a long time, the overall distribution will show the best statistics from each wallet.
Launchpad Bonus
The criteria for the 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 criterion for the quantity of airdrop rewards; if a wallet has no diamond balance, participating in Launchpad activities alone will not yield ME airdrop shares.
Wallet Bonus
The evaluation criteria for the 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 the Magic Eden Wallet, rune trading, and Lucky Buy. (Note: Lucky Buy is a new feature launched by Magic Eden in September that allows buyers to purchase NFTs below market price. The adoption of this feature is based on a percentage system determined by the system, which decides the percentage of the NFT price the user wants to use and the probability of winning. When buyers purchase NFTs, they can participate in bidding, and if successful, Magic Eden covers the difference, ensuring the seller receives the full price of their NFT. Even if the purchase is ultimately unsuccessful, NFT buyers can still receive "diamond" incentives, which is also a way to accumulate Magic Eden diamonds.)
Wallet activity is also a secondary criterion for the quantity of airdrop rewards; if a wallet has no trading balance, it cannot obtain ME airdrop shares based solely on wallet usage.
Active OG Bonus
The Active OG Bonus represents user loyalty, with criteria of Yes and No. The Active OG Bonus represents addresses that were among the first to use the protocol and have continued to do so frequently to this day. This means that if a user was an early user but their address has not been used for a long time, they will not be classified as having an Active OG Bonus.
The early evaluation criteria for OG can be referenced through MagicTicket. Magic Eden released a tweet in February 2022 stating that it conducted a MagicTicket airdrop (totaling 30,602 tickets) based on its inception date (September 17, 2021) to give back to the Solana NFT ecosystem, specifically:
Users who made their first transaction within one month of its inception received OG Tickets (6,348 tickets);
Users who made their first transaction from mid-October to mid-December 2022 received Degen Tickets (7,162 tickets);
Users who made their first transaction after December 2022 received Normie Tickets (17,092 tickets).
MagicTicket holders enjoy three types of benefits, including community governance, rewards, and social engagement. For example, creating proposals, voting, and obtaining more points (diamonds), whitelists, and airdrops.
Airdrop Query Tutorial
The airdrop query is divided into three steps:
Download the ME wallet app on your phone, then import the Magic Eden wallet using the mnemonic phrase. Previously, Magic Eden launched the ME test token claim process for reference: "Magic Eden is about to open the testME airdrop claim, bringing you familiar with the process in advance";
Click the scan function on the app to scan the QR code of the ME Foundation and randomly sign in on your mobile device;
After logging in, as mentioned earlier, users should connect as many wallets as possible that have traded on Magic Eden, such as BTC, ETH, SOL, etc. The more eligible wallets added, the better.
Once connected, you can see your allocation amount on the query interface.
Conclusion
The ME claim is set for December 10. Magic Eden co-founder and CEO Jack Lu previously listed some key points regarding the ecosystem and community building after the launch of ME:
- Magic Eden will become the entry point for everyone into the cryptocurrency space, trading all on-chain assets;
- Magic Eden is incorporating ME into its reward program;
- Executing strategies for all chains, all assets, and all communities to build a strong cross-cryptocurrency chain maxis community.
Currently, ME is trading in pre-market on OKX between 3.5 USDT and 4 USDT, while Coinbase International announced on November 20 that it would launch ME perpetual contracts in its Pre-Launch market, showing support for Magic Eden. Perhaps we can look forward to "Coinbase listing ME on its coin listing roadmap."
Additionally, with the recent revival of old altcoins and the continuous rise of new coins, the NFT sector tokens also saw good gains yesterday, with APENFT (NFT) up 38.94%, SuperVerse (SUPER) up 21.62%, Apecoin (APE) up 18.85%, and Blur (BLUR) up 6.84%. The market rotation seems to indicate that people are not only focused on Meme PvP, but other sectors are also gradually warming up.
After ME goes live, we may not expect Magic Eden to revive NFTs significantly, but we can perhaps believe that the ME dedicated to "all chains, all assets" will see good growth in the future.
