ME Foundation Unveils ME Tokenomics And Prepares For Upcoming TGE
In Brief
ME Foundation has released details about the ME token, with plans to make 12.5% of the total supply available for initial claims during the TGE.
Cross-chain decentralized application (dApp) token project ME Foundation released comprehensive details about the ME token.
Based on its tokenomics, the total supply of ME tokens is capped at 1 billion. At the token generation event (TGE), 12.5% of the total supply will be available for initial claims. Additionally, 37.7% is designated for the community ecosystem, 26.2% for contributors, and 23.6% for strategic partners.
The token release will occur incrementally over four years, culminating in the full circulation of ME tokens, with a large portion directed toward community development.
With the upcoming ME TGE, an eligibility checker will be provided to allow users to verify eligible wallets before the event. At this stage, users will also be able to link their wallets, following a process similar to the TestME claim flow. Wallets previously linked during TestME will not require relinking. On the TGE day and afterward, eligible users can claim and stake their ME tokens during a designated claim period.
ME Foundation To Serve As Stewards Of ME
ME Foundation is a non-profit organization dedicated to supporting the ME community, aiming to enable growth in on-chain users. Its open-source protocols are utilized across various platforms, including those beyond Magic Eden, such as OKX, Exodus, and Phantom. These entities are integral contributors to the ME ecosystem. The foundation operates under the guidance of its Constitution, Bylaws, Articles of Association, and Memorandum of Association.
Magic Eden is recognized as a leading consumer-focused dApp in the cryptocurrency space, striving to make digital ownership accessible to everyone. Its vision centers on creating a trading platform capable of supporting assets across all blockchain networks. The ME token, which is an SPL token, is designed for widespread adoption, appealing to users across Solana, EVM-compatible chains, and Bitcoin.
As Magic Eden plans to introduce an expansive on-chain trading rewards program, users will have opportunities to stake, trade, and earn ME tokens by participating in non-fungible tokens (NFT) and trading on multiple chains. Once users become part of the ME community, they will have the ability to contribute to shaping the future of the ME Foundation’s protocols, enhancing the experience of on-chain trading for all participants.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
