Here's a breakdown of our Initial Incentives so that you know exactly what to expect on Public Mainnet.
Our incentives philosophy rests on 3 core pillars:
➤ Rewarding real users
➤ Incentivizing useful apps and novel use cases
➤ Ensuring long-term alignment
Details ↴
$ME TOKENOMICS
The $ME tokenomics are designed to align the community and team to ensure the long-term growth of the $ME ecosystem.
First, a few facts at a glance:
- Total supply: 1 billion $ME
- The token distributions will be emitted over 4 years, with over half going to the community
Initial $ME Claim at TGE: 12.5%
- This claim will reward users across Bitcoin, Solana, and EVM ecosystems who will be an integral part of $ME DAO. This allocation will be fully unlocked at TGE and distributed to users via Magic Eden’s mobile dApp.
- Any amounts that are left unclaimed will go back to $ME stakers as future rewards as part of the Community allocation.
Community & Ecosystem: 37.7%
- The majority (22.5%) has been reserved to reward active users of ME protocols, to be released primarily via Magic Eden’s rewards program.
- The remaining (15.2%) of this allocation will go towards ecosystem development, including passionate advocates and creators who want to grow and support the protocols. These grants will be structured as long-term agreements to align long term stakeholders in the ecosystem. Also, 5% of ecosystem development is allocated to the ME Foundation Treasury for protocol support, including amounts for liquidity provision.
Contributors: 26.2%
- This allocation includes contractors and advisors supporting the protocols and Magic Eden employees. To signal long term commitment, core contributors representing >60% of the Contributor token bucket will lock their tokens for a minimum of 18 months post-TGE.
Strategic Participants: 23.6%
- All strategic participants who have provided critical guidance in the development of the ME Foundation protocols will have a minimum lockup period of 12 months post-TGE and follow the Token Emissions Schedule for gradual unlocking.
TOKEN EMISSIONS SCHEDULE
$ME will be distributed over 4 years, at which point all $ME will be fully circulating with the majority allocated to the community.
Security Council: To ensure the community and protocols are safeguarded from security issues, a Security Council of 5 members will be appointed to oversee a multi-sig wallet with the ability to perform both emergency and delayed non-emergency actions. This information will be outlined in the ME DAO Constitution after TGE.
ME FOUNDATION WILL SERVE AS STEWARDS OF $ME
ME Foundation is a non-profit foundation that supports the $ME community, ensuring the $ME community is set up to drive the greatest increase in onchain users. The open source protocols of ME Foundation are used in platforms including platforms beyond Magic Eden like OKX, Exodus, and Phantom. These members are all players in the $ME ecosystem. ME Foundation will be governed by its Constitution, Bylaws and Articles of Association and Memorandum of Association. This post will be updated soon with links to these governance documents in the near future.
REMINDERS BEFORE $ME TGE:
The $ME TGE is coming soon. Here’s what you can expect beforehand:
- There will be an eligibility checker where users will be able to check which wallets are eligible before TGE. Users will also be able to link their wallets at this time, similar to the $TestME claim flow. If users linked their wallets during $TestME they will not need to relink.
- On day of TGE and beyond, there will be a claim period during which eligible users can claim and stake their $ME tokens.
- The $ME TGE will mark the beginning of a community-run initiative to accelerate the onchain economy.
DISCLAIMERS
ME Foundation will keep you informed once $ME claim tools are live. Note that ME Foundation or contributors will never approach you, ask you for personal information or ask you for money.
We strongly advise our community members to exercise caution and be wary of potential scams or illegitimate pages. The Foundation and community moderators will never message you first or ask you for personal information or private keys.
Please stay alert and turn on notifications for @MEFndn to await next steps.