Magic Eden CEO: The Magic Eden founding team will lock up the ME tokens for at least 18 months after the TGE

10/22 03:12

Wechat scan to share

On October 22nd, Jack Lu, CEO of Magic Eden, shared the vision for Magic Eden on social media and indicated that soon, users will be able to trade assets on all chains within one application, similar to Binance or Coinbase, but fully on-chain. By the end of this year, Magic Eden will launch on 10 chains. In addition to NFT trading, there will also be Solana token trading, rune trading, and cross-chain swapping. The ME token will become the growth engine of the application. The progress of testing tokens is still on schedule to be launched this month. To demonstrate a long-term commitment to MAGIC, the founding team of Magic Eden will lock their tokens until at least 18 months after TGE. In order to establish consistent incentives with the community, Magic Eden's ME integration will also reward the platform's longest-term users.

Comments

All Comments

Recommended for you

Coindesk · 03/17 08:50

Crypto Whale Shorts $445M in Bitcoin While Taking Bullish Bet on MELANIA Token, Hyperliquid Data Show

A group of traders looked to liquidate the giant short position in BTC but the operation failed, per observers.
Coindesk · 03/17 08:45

U.S. Treasury Secretary Bessent Calls Corrections Normal, Suggesting a Higher Pain Threshold for the 'Trump Put'

Bessent's take suggests that the "Trump put" may take longer to manifest or require more significant market declines before any action is taken.
Francisco Memoria · 03/17 06:43

Coinbase Stock Decline Can't Stop Highly Leveraged Long ETF Rollouts

The ETF allows investors to capitalize on the volatility of Coinbase's stock without directly holding shares.
Tom Mitchelhill · 03/17 06:40

How Bitdeer Is Transforming Bitcoin Mining Machines

The Singapore-based miner has big plans to shake up ASICs with a new design and a greater commitment to transparency.
Mint Blockchain · 03/17 06:36

MintID Holders Alert: Big Update on Staking Rules!

To ensure that MintID holders can manage their NFT assets more flexibly, starting from May 31, 2024, at 8:00 AM (UTC), all holders will be free to choose whether to continue staking their MintID or to unstake and retrieve their NFT.
PermaDAO · 03/17 06:36

Aolotto Dividend Mechanism Upgrade

Aolotto is a fully community-driven $1 on-chain lottery protocol, where 100% of profits are returned to the community. In Aolotto’s token model, 50% of protocol profits (equivalent to 20% of total sales) are allocated for holder dividends.
Mint Blockchain · 03/17 06:36

MintPool: Fully Participate in Staking & Restaking to Earn Generous Rewards.

With the official launch of the TGE event, Mint Blockchain’s $MINT Staking and Restaking mechanisms are the optimal choices for enhancing participation and maximizing returns.
Mint Blockchain · 03/17 06:36

$MINT Staking Guide: High-Yield Mining on Gate & Bitget — Don’t Miss Out!

With Mint Blockchain recently completing its TGE and initial token distribution, both Gate and Bitget exchanges have launched high-yield $MINT mining activities.
Mint Blockchain · 03/17 06:36

$MINT Staking & Restaking: Mechanism and Rewards Explained

As the Mint Blockchain Token Generation Event (TGE) approaches, the $MINT tokenomics and staking mechanism will provide users with diversified participation opportunities.
PermaDAO · 03/17 06:36

Arweave/AO Weekly Highlights Week 10 | $AOCRED Now Redeemable, Rimbox Launches Building Mode, Protocol Pioneers

Arweave Network Data: In the past week, Arweave completed 284,351,831 transactions, reaching a storage volume of 4.5 TiB. Storage fee for this week stands at 1.22 $AR/GB, block reward at 2,844 $AR, and endowment increased by 4,698 $AR.