PANews reported on November 19 that the Magic Eden Foundation announced that the token economic model of its token $ME was officially announced, with a total supply of 1 billion, of which more than half will be allocated to the community. The first token generation event (TGE) will distribute 12.5% of $ME, which will be fully unlocked and distributed to Bitcoin, Solana and EVM ecosystem users through the Magic Eden mobile app. Unclaimed tokens will flow back to the community staking reward pool.
Distribution details: 37.7% is allocated to the community and ecosystem, of which 22.5% is used to reward active users of the protocol, and 15.2% supports ecological development; 26.2% is allocated to contributors, including core developers and consultants; 23.6% is used for strategic participants, and is locked for at least 12 months. All tokens will be fully circulated within 4 years. To ensure the security of the protocol, a 5-member security committee will be established to supervise the multi-signature wallet. The ME Foundation will serve as the management body of $ME, promote the development of the on-chain economy, and provide staking rewards to token holders.
