Magic Eden’s ME Lists on Binance

Binance has announced the listing of the Magic Eden (ME) token, with trading set to begin on December 10, 2024, at 15:00 UTC. The following trading pairs will be available: ME/BTC, ME/USDT, ME/FDUSD, and ME/TRY. Users can now deposit ME to prepare for trading.

Listing Conditions and Warnings

According to the announcement, the listing fee for ME is 0 BNB. Withdrawals will open on December 11, 2024, at 15:00 UTC. The token received a Seed tag, indicating the purchase risk due to potential volatility. To access trading, users must complete a specialized quiz confirming their understanding of the associated risks.

Binance emphasizes the importance of researching the project before trading and reminds users that the Seed tag indicates an innovative but potentially unstable asset.

Magic Eden’s Innovations

On November 19, the project’s team released the ME tokenomics, stating that the total supply will be 1 billion tokens. The ME token is designed to incentivize user activity on Magic Eden. Holders can participate in a rewards program, staking, and decision-making via a DAO.

On the day of the token listing, Magic Eden CEO Jack Lu announced that the next version of the platform will function like an on-chain Binance, enabling trading across multiple blockchains. According to him, the token will be a key part of the ecosystem, allowing users to earn ME through daily engagement and other contributions.

Additionally, Lu previously stated that he and the co-founders would lock their ME token holdings for 18 months to demonstrate their commitment to the project.

“Growth solves all problems. We’re using ME to ensure the entire ecosystem thrives. It’s a token for everyone who wants to be part of our movement,” added the CEO.

To claim tokens during the TGE, users need to connect their wallets through the Magic Eden mobile app. This process can be completed by February 1, 2025. To finalize transactions, users must have a small amount of SOL in their accounts.

This post is for informational purposes only and is not an ad or investment advice. Please do your own research making any decisions.