What’s Known
Magic Eden has launched the third season of its trader activity program. Key updates include an enhanced leaderboard, a community proposal tab, and larger rewards. Users can track rankings in real time, submit ideas for fund allocation, and compete for a share of the prize pool.
The new interface displays current trader positions, including the bottom 50%. Developers highlighted the addition of the Governance tab, where the community can submit ideas for using the funds. A total of 5 million ME tokens has been allocated to community initiatives.
Previous Season Was Profitable
The second season, which ended on August 7, delivered a drop equivalent to 2-4 times participants’ investments. The prize pool initially stood at 8 million ME but was later increased to 10 million. The second season lasted three months.
The third season will run longer than the previous one - four months. The exact number of tokens allocated has not been disclosed, but the announcement video featured a banner reading “12 million $ME,” which could indicate the size of the airdrop. The team confirmed that the amount will exceed the second season’s pool, with a main focus on community engagement through proposals for fund use and active, dynamic trading participation.
According to users, the high payouts in the second season have drawn many new participants to the third, which could affect overall competition and the distribution of tokens. However, there is also a risk of overheating, as more active traders with large deposits could reduce individual payouts.
Market Price of ME Remains Far From Peak
At the time of publication, ME was trading at $0.7158, down 0,28% over the past 24 hours. Its price remains significantly below the all-time high of $13.24. The team hopes that launching the new season will boost interest in the token and increase market activity around the ecosystem.
