NFT marketplace Magic Eden has announced the launch of its second season of user rewards. Participants can earn points for trading NFTs, staking the $ME token, and swapping cryptocurrencies. Details below.
How Season 2 Works
According to the announcement, the new system tracks user activity in real-time, takes into account trading volumes and staking duration, and calculates rewards individually without dividing participants into tiers. Payouts are scheduled for mid-August.
To participate, users need to stake $ME and link all their accounts to combine their staking power. The higher the trading volume and the longer the token lock-up period, the higher the final score. Users earn points for NFT trades, token swaps, and Runes-related activities. Rankings are updated every hour.
Only transactions made directly on the platform are eligible for rewards. Listings marked as “Eligible for Rewards” qualify for points. There is no minimum price. Trades originating from aggregator platforms are not counted. All NFT collections, including cNFTs, and all supported blockchains are included.
What’s New on the Platform
Magic Eden has also redesigned its interface for the second season. A global leaderboard and progress indicator have been added, along with updates to the homepage, collection pages, and the mobile version of the token swap interface. A temporary 0.5% fee applies to all transactions on EVM chains.
The Lucky Buy feature will be added later.
Token and Runes Trading Also Earns Points
Cryptocurrency swaps are eligible for points whether made on the website or via the mobile app. There are no minimum limits. However, transactions through fiat gateways — such as Moonpay — are not included. Each completed transaction counts toward the ranking unless deemed inorganic. Activity that appears artificially generated will lower a user’s score.
The same rules apply to trading Runes — users must buy or sell an asset. Order book transactions do not count.
Staking Amplifies the Impact of Any Activity
According to the announcement, every action earns points depending on the current staking strength. This is calculated using the formula: amount of $ME staked × duration of lock-up. Data is not recalculated retroactively — if a user increases their stake later, it will only affect future actions.
To maximize their score, users are encouraged to combine all wallets under a single account. This boosts the overall score without risks or penalties. One wallet can have only one lock-up duration. When adding new tokens, the original lock-up period remains. Extending the lock-up period applies to the entire staked amount and increases the multiplier, but tokens cannot be withdrawn before the period ends.
Slingshot Acquisition Expands Scope of Operations
Previously, Magic Eden acquired the crypto application Slingshot. According to project representatives, this move was aimed at expanding beyond the NFT market, which has been experiencing declining volumes and the exit of major players since early 2025. As part of the deal, the platform added access to 8 million tokens across 10 leading blockchains without the need for bridges or centralized exchanges. Now users can trade from a single USDC balance regardless of the network.
This post is for informational purposes only and is not an ad or investment advice. Please do your own research making any decisions.